Posted on 11/09/2008 12:07:39 PM PST by Son House
401K?!
Under Obama you won’t have a 401K. You will have a gov’t IOU from the infamous SS Trust Fund.
One word: REQUIRED.
Under Obama you won’t have a 401K. You will have a gov’t IOU from the infamous SS Trust Fund.”
I have tried to explain this to a number of people.
Apparently it is too much for them to digest at one sitting—they just cannot believe I am correct. When I refer them to the Free Republic threads about the 401, I get :
It’s just an opinion
It’s a Republican lie
They cannot do this- too many people would be affected.
I am now working on how many ways I can say:
I TOLD YOU SO......
I stopped my 401K contributions on Thursday. I figured I might as well stop throwing money in a bucket that hs no bottom. After Obama is voted out in 4 years I will resume my 401K if it still exists.
Right on! It’s called scrip and it will be worthless.
Largest source of liquid untapped money in the country. Where do they think Hussein is going to get the money to fund his reparations?
The sad thing here is that it’s reported as news. This should have been so blatantly obvious from the very beginning that no one with a policy of soaking the rich could get nominated on either ticket.
I think it goes without saying that we’re headed for some serious economic woes. Jimmy Carter redoux.
I am staying in because long term down market offers more long term growth, obviously a big risk with Democrats, but polls say they are better for the economy(/s), I have always put in the minimum to get the employers matching funds
My 401K went nowhere under the present administration.
401(Keg) Plan
If you had bought $1,000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 of the original $1,000.00.
With MCI/Worldcom, you would have less than $5.00 left.
If you had bought $1,000.00 worth of Miller Genuine Draft (the beer, not the stock) one year ago, drunk all the beer then turned in the cans for the 10-cent deposit, you would have $214.00.
Based on the above, 401KegPlan.com current investment advice is to take that $5.00 you have left over drink lots and lots of beer and recycle !
Wow, should me husband have his 401k switched to his IRA? I am not as financially astute as I’d like to be?
Neither am I. I was told that you can’t switch unless you
leave the 401K job. I don’t know what to do about mine
either, but since I’m 59 1/2 I might have a few more
options than younger person. Good luck trying to hang on
to what you’ve saved so far.
Then you invested poorly.
I think you stay in at this point, 3rd quarter 2009 would be the time I look to sell and or change. The reason is 2010 is when the Bush tax cuts sunset, and everyone will be getting out, 3rd quarter of 2009 should offer an upswing, even if artificially induced by one term novelty candidate, long term we need low tax rates for real economic growth
One other explanation is the market had a lot of record highs that would raise the dollar cost averaging of a 401k, therefore making any drawback in the market a drag on the account balance.
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Another observation I would offer is the high employment under Bush is what gave defaulters the chance to invest in them high risk mortgages they really shouldn’t have afforded themselves
can I safely assume that no 401 tax changes can take place at least until 2010?...should I contribute next year?......
I find it highly ironic that so many high-income voters supported Obama when many of them will be most harmed by his economic policies.
I agree partly, what I noticed though was that I was putting money in (including my employers contribution) and the balance kept dropping by the hundrend. I just started thinking it was counterproductive and stopped the withdrawl from my check. If the economy picks up I can always start it again.
no 401 tax changes can take place
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Nope, unfortunately, like the $700 billion bail-out, Democrats will push their legislation regardless of public resistance, but I’d think folks will be more outspoken if the 401k is changed
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