Posted on 11/09/2008 12:58:49 PM PST by 4buttons
Vultures.
It takes the mindset of a vulture to achieve the prominence to be able to actually show what a vulture is capable of doing.
EA, you are no vulture.
Locke, Hobbes, and the Federalist Papers are indeed worthwhile. Thoreau is for entertainment and Rousseau is the wellspring of many of today's utopian socialist follies. Better to read Burke, Mises, Hayek, Friedman, and de Tocqueville.
The government cannot confiscate anything of yours without due process. There are 93 million in IRAs, 401ks etc. That’s a lot of voters.
Miller’s biggest priority has been on legislation aimed at greater transparency in 401(k)s and other retirement plan administration, specifically regarding fees, Albright said, and he sent a link to a Fox News interview of Miller on Oct. 24, 2008, to show that the congressman had not made a decision.
After repeated questions asked by Neil Cavuto of Fox News, Miller said he would not be in favor of “killing the 401(k)” or of “killing the tax advantages for 401(k)s.”
What about the other members? Miller backed down in the face of public scrutiny. Kind of.
See my 37
So take a leave of abscence from your work and just ride on some of that principle.
Let me see. I believe AIG was the largest insurance company. IIRC I remember seeing an article at Bloomberg where insurance companies are now at the Fed window. I am sure you can find it but if not I will try to locate the article.
"Guaranteed" to be paid back in inflated dollars worth a mere fraction of what they were when they were earned by the sweat of your brow.
The government will not address IULs. No one looks at them like retirement programs. The companies cannot advertise them as such. That’s the beauty, buy a policy and use it for retirement and still retain the death benefit. Very few others know what they are.
I called my broker the other day to move my money into an annuity and he couldn’t understand why. He told me that the lobbyists that he talks to told him this issue is dead. That is why tomorrow morning I am calling somebody who understands how serious this is and will help me move my money to someplace that I feel more comfortable with. This is money that I haven’t touched since the late 1980s so it is doubtful that I am going to need it in the next 10 years before I am 59 1/2.
What is 8.29% tax free? Are you looking at long-term returns projections on a UIL like Life of the SW? Any UIL companies you like?
I think you are talking about the same thing. But if I spend it there goes my meager retirement nestegg. It truly sucks.
No, I got it -- you are in a financial Catch-22. If you don't use it, you lose it. If you use it, you get taxed on it and you get shoved to the next bracket, which means you lose it.
Maybe you should find a large income-producing investment like a house or something and just take the hit once.
But I can't advise either -- I am too conservative with my money (no pun intended).
The Dow dropping so rapidly. My mom has lost 40K since January.
Return???
$50,000 in and $5000 back (scaled for percentage) and the government determines WHEN you retire, although God determines when you die, to boot????
Hell of a deal! /sarcasm
Old Mutual just changed their IUL rate from 9.61 to 8.29. They have out run the index the last 10 and 25 years. They guarantee 1 and cap at 15%.
AIG became a financial services company and got involved in everything. Their insurance companies have reserves set aside. Insurance companies should not be allowed to be those businesses that AIG was in. Not all insurance companies are at the fed window - most are not.
What I've seen is they want to make it "voluntary" to turn over your 401K to them. The incentive will be the guaranteed return and by eliminating the tax deduction businesses will not make matching contributions.
groth, distribution, and death benefit all tax free.
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