jsullymaan
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Wow, reading these posts it is amazing to see how uneducated and easily swayed the masses are with regards to party politics. Listen up people, if you have money and you worked hard for it, the Democratic party wants to take it away from you and give it to people who have made dumb decisions with their lives and/or have not worked nearly as hard or smart as you have to earn your wealth. Plain and simple. Republicans believe people ought to be able to keep the money they lawfully earn and the role of the government should be limited to the activities of protecting the common good: fair trade, law and order, protection of national interests, and protection of rights spelled out distinctly in the Constitution and Bill of Rights. Repeat after me: Democrats equals handouts, Replublicans equals keep what you make.
Now that the lesson in American Politics is over, Obama will not be able to touch your 401k just as long as you don't cash it. Your funds are grandfathered into an existing system, and the only thing that can change is the tax basis on which capital gains are levied when you withdraw them, or tax breaks on future contributions or the tax deferred status of employer contributions. Let it all sit in there until the masses get sick of having their taxes raised year after year to pay for Welfare folks so they can have a 40"LCD and an Escalade, and vote another Republican administration in that will restore your ability to keep your money, money you want to hold onto not because you are greedy, but because you want to have sufficient savings at retirement so you are not a burden on your government medically and finacially, unlike Milly who plans on complaining at 60 why her government is not taking care of paying for her meds because she didn't save a dime all her life and her social security check goes to pay the $100k in credit card debt she has amassed (which is definitely not her fault!)....Nuff said
For more straight talk with an edge, visit my blog at maanspace.blogspot.com |
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digdowndeepnseattle
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I'd suggest that you'd roll over part of the money into an IRA and take part in cash. Then take the cash portion and invest it two courses. The first course would be a course in financial investing to learn about 401k's, how they are funded, and the rules associated with them. The second course would be an education on the 4th amendment to the constitution...you know the one that protects you against unlawful search and seizure of your papers and effects.
Better education on both these topics would alleviate any fear of "punishment" |
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vsteg1
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save it!
they will not take anything away from you, 1D1OT! dont be 'concerned that the future government may "share the wealth" in a way that punishes me for saving in my 401k.' silly. |
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A.J.
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Move out of the country and take it with you until 2012. That's what I want to do. |
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Jeanne R
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If you have 401(k)'s from previous employers you should always roll the money over to a Self Directed IRA regardless of any current administration.
The American government is NOT going to do anything with your (or my) retirement accounts. This whole ridiculous scare story has it's basis in the fact that Argentina has nationalized the pension system there because of Argentina's national debt. |
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Derek (Steelers, SB champs)
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They will not take away your 401 (k). |
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Denise H
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Must be a Republican. HATER!!!! lol...
AND... I bet you don't even have enough money to be talking. I bet that you voted Republican....if you make less than 250k, and finance is your main concern.....WHY would you vote for ANYONE else? |
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maxmom56
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You just left your 401ks with your former employers? Wow, talk about careless.
Oh course, your question makes absolutely no sense. Why would money in a 401K be treated differently than money in an IRA or in a Roth or the same money in "investments?" Are you ranting or just financially inept?
Since all your investments are at their lowest point value wise thanks to your beloved Republic-A$$e$, leave them alone so as not to recognize the losses. Once stock values come back, get your money out of your former employers' 401Ks like you should have when you left the jobs.
Oh, and get yourself some education - financially AND politically. |
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David M
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If Obama and the Dumbocrats attack our 401K's they won't stop there. They will attack all tax advantaged accounts. You ask a very valid question here that I'm not sure of the answer. But the last time we had this liberal of a President and a Senate and House to back him up was Jimmy Carter from 1977 to 1981. They so thoroughly screwed things up that he served only one term and ushered in the Reagan revolution. I fully expect the same out of Obama. Those morons who answered in a way which blamed Republicans I'll wager are all too young to remember what a mess Carter left behind. To help their feeble memories, let me repeat.
17% inflation
19% mortgages
10% unemployment
A very deep recession
Jimmy Carter's own words: "A general malaise"
Worst President in my lifetime. A feat Obama will try to outdo. |
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Merry Mary
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Do what I did ...I withdrew it and bought a Harley Davidson and an expensive acoustic guitar. The move didn't sit well with the wife but, I got two choices now ...I can play my guitar loud enough to tune her out or I can jump on the Hog and get away from her. Good luck! |
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Anthony G
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??
Leave it alone. They are not going to touch it.
And did you know that with the addition of Home Land Security...
Bush created the largest government that we have EVER SEEN?
Oh and did you know that he has given government the largest growth in POWER that we have ever seen?? Shh they are listening! |
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Justin M
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leave it.
democrats will probably have it better off than the reds. (republicans) |
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S&T
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lol wow you have bigger issues if you think Obama and the democrats are the ones taking your 401k....you can thank the republican party for that! Obama and the democrats are actually going to be putting money back into our banks, giving us middle class a tax break....unless your making over 250k, then your money will sitll keep you rich, so stop ur b*tching if thats the case! If not, take your money and invest it into a house you can pay off or something that you will own because even an IRA isnt safe |
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