Posted on 11/21/2012 10:37:47 AM PST by blam
That’s retroactive slavery.
I’ll fight to the death before they steal my retirement.
Boomer Bust!
The way things are going you may have to burn it to generate some heat to keep warm.
Of course, it will first be "demanded" by "the people" via the MSM after endless stories of "43 million without coverage".
That template has already worked wonders.
That’s when the shooting starts.
It’s almost time.
You and I are on the same page. I am prepared to take the ‘sting’ of closing the 401k and convert it to assets that can be better utilized for retirement. I will be danged if I let anyone get their hands on it.
Have you heard of structured settlement investments if so what do you think of them?
That might be their idea, at least for a few high-profile examples to scare the rest of the sheep.
If I were your age and felt like you do, I would invest it in a piece of cheap, foreclosed property at a sheriff’s sale, then collect rent. IF we survive economically, your investment will look pretty good when you’re 65.
Yeah, but it's not money, it's power that they're after.
I was just reading a little Claire last night.
The 16th Amendment was the actual institution of slavery.
Let's face it, if the government has first dibs on your paycheck, you are a sharecropper in your own nation.
Sounds about right.
I think that one of the ways to get our country back is to make it cool to bump heads with this administration like the hippies did in the 60’s. Young people seem to be driven by emotion. It’s time we (conservatives) capture that emotion and use it for good.
A little boom goes a long way.
There will be a market crash either naturally or manufactured. There will be media outrage to alarm citizens from the evils of The Wall Street. The Wall Street is run by the rich who gamble with and cheat people out of their life savings.
They will roll out select welfare queens to shout to the world to show the world how unfair it is for rich people to have money to save when she has to rely on government assistance to feed her fatherless children.
Why risk your nestegg on risky Wall Street schemes when you can invest in the good ole USA?
Initially, ALL companies will have to offer government approved investment vehicles. Eventually, that will be your only choice. You will be forced to move your money into these “funds” that are managed by a new Office of Retirement Affairs. You will be required, as will your employer, to contribute a minimum percentage to the plan.
Welfare will now include a retirement plan. The recipient will receive statements showing how much savings have been deposited and how much they have “earned.”
Anyone with a current IRA or old 401k can either cash it out and pay a prohibitally large penalty or convert their holdings to the new savings plans.
Welcome to the future.
You can get your money out. For a price. Usually at least 1/3 goes to penalties and taxes.
Simple warning will suffice here...here is a story to consider: Friend took a job as an auto repo guy. He pulled up to a car in the ghetto on his seizure list. Guy yelled out of second story window, put your hands on that car and that is where they are going to stay.
He quit.
I do a lot of blustering but if anyone seizes any of my funds I put away for retirement, funds I worked for, they are going to die. Period.
I talked to our finance guy.
Our 401(k) is structured such that it is virtually impossible to take anything out while in service.
I’d have to quit or be fired in order to access it. Even hardships don’t count unless you can document you’ve tried other options and been turned down for other sources of financing.
So I’m basically stuck.
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