“Move every dime you can into a Roth IRA.”
Careful FRiend. There’s stuff in the works in the House to turn “your” 401K/Roth money into a cash cow for the government.
I put the max in my 401K the first year it started, and then, they changed the rules.
It isn’t “your” money. It’s “yours” for as long as they allow it.
Tell me more, please!
It isn’t “your” money. It’s “yours” for as long as they allow it.
I actually have lefties tell me that ‘my money’ is actually OUR money(as in society’s money) and that it is a MORAL obligation that society help out those who cannot help themselves.
Collectivists live in a Utopian dreamland and are turning our reality into a fricken nightmare.
“Careful FRiend. There’s stuff in the works in the House to turn “your” 401K/Roth money into a cash cow for the government.”
I have two problems with Roth, and 1 with 401k/IRA. For the Roth, if you are at the higher income levels, you are better off mathematically taking the tax deferrment. The reason is that you probability of being in a lower bracket at 65 is high and the extra money can grow faster.
For all of these types of accounts, my problem is that the gov’t can change the rules at any time. That money is earmarked as under special rules. Personally, I would rather pay my taxes and have free&clear savings. Those savings can be used in a pinch, but the retirement accounts are basically off limits.
Do you have SPECIFIC items that I can write my Congress-critter about? I have heard these fears and seen the attempts in Europe, but do not know of any details here.
Having moved everything into IRAs and then moving chunks into Roths, this is my great fear, that the VAMPIRES of Congress will, ONCE AGAIN, rob the ants to feed the grasshoppers! After all, was that not what they did with the Chrysler Bond holders?