Posted on 01/08/2010 11:07:28 AM PST by Zeddicus
Very good point. The whole scam / sham is a crap shoot. I expect taxes must go up with $110 trillion in debt, so maybe converting an IRA to a ROTH now would be beneficial. But, the probability of confiscation is better than 50 / 50, so maybe unlocking the funds from withdraw penalty now gives a family flexibility.
I just watched a two hour show on the history channel about the potential results of a REAL pandemic that kills millions of people. At one point they said that a person who knows how to grow food might be more valuable than a stock market expert. I am old enough to know how to grow food with machinery or with the old methods, using hand tools or a horse drawn plow. Maybe I’ll be employable again yet.
Hey, I resemble that remark, actually I converted in ‘97.
The last straw. The tresury seeks public comment? How bout we send the messenger back a piece at a time!
Ha, funny thing, that is just what I did last year when I first heard mention of this proposed theft by some of our scumbag congressmen - I cut my excess contributions to the minimum, and am now considering early retirement so as to spend down my portion of this obvious pool of money apparently plum for the criminal $hitbags in DC.
I think 95% of us are f'ed if you're talking about the Almighty :)
"You's sends one a his to the fkin morgue! THATs the Chicago way."
There are a number of federal tax free municipal bond funds that yield between 4.5 and 6% - with no federal tax - and they pay monthly dividends (MNP, NPY, DMF).
Don't accept 0.6% yield!
That is pre 12-25-09 thinking.
;)
And Miller wasn't the only one..."floating" that scheme.
-Barack Hussein Obama
I will start that.......
My pop taught me....
Had $6k in the bank...when I was almost 19. Bought my first car...with $4k of it...
Kept saving at least $50 a month for years....Then started figuring out ways to leverage that, and now have a real good amount.
I've taught my kids to do the same....My youngest...who's just 21...has over $10k in the bank! Whoa!! Surprised me...!! She's a smart young lady.
But I worry about her future!
I vaguely recall that Sheila Bair put her two cents worth in on the scheme. Vipers, all.
I think this latest workplace shooter in St Louis was “set off” due a conflict with his and his coworkers 401k being supposedly trashed by their company , or something to that effect .....etc
If polidiots ....that watched ENRON and Maddoff (sp?) etc rob the sheeple that just said “oh well we got screwed”....consider our savings and investments for retirement as a source of their cash. They do NOT want to try such through legislation. They will get “tired” trying that IMO. (Pamwe Chete).
Dear polidiot.......take my life savings and leave me no alternative . I’ll show ya a trick .
My opinion.....
I don’t think he’s got it all in place yet. They’ll act prematurely, and out of hubris. They also seriously underestimate the anger that’s been building towards them over the decades.
That’s going to be their downfall. Unfortunately, there’s going to be a whole lot of dying between point A and point B.
We personally strive to never be more than 50% reliant on fiscal US infrastructure and systems for our long term retirement investments.
Groceries / Garden, Guns, Gold/Cash and Gas on hand (AT HOME) to get through at least a minimum of six months of any national monetary crisis, as well as a safe deposit box at your local bank and additional resources stored in a private bonded secure storage facility. A defense in depth per se......
Self reliance is the key .
My opinion !
but what of us who have to save for our own retirement?....we're going to be slaves again.....
I've feared this for some time....one reason I didn't do much with my 401 last year, and probably won't be contributing much this year either....
Almighty Lord help us please....
Cash is good. Paper, maybe not so much if we have a currency crash - as is likely. Junk silver coins in easily recognizable denominations might be a better deal. But we didn’t buy a bag when we had the chance. Oh, well...
LOL
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