So Ive been going through my retirement plan, just making sure I'm doing whats best in todays economy... And I've always been a big fan of the 401k plans, its nice to get a company match and differ taxes. Plus its basically free investing for most people (company covers expenses/fees), not to mention its automatic so it's easy to stay disciplined...
Well I got to doing some reseach and saw where Argentina recently socialized all retirement plans and replaced them w/ a T-Bill (IOU) that they can inflate away to nothing by printing money...
I know this might sound paranoid, but as a result I've lowered my contribution amount to just get the maximum match, and I'm considering cashing it all out when I purchase a home... Just so the Dems dont give me a nice fat IOU after they socialize all retirement plans...
What do you think?
I'm betting its only a matter of time at this rate before the govt takes over the trillions of retirement plans. And uses the excuse that they are protecting people from market collapses/risk!
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Hoyt VTEC 28" @ 74# 283 ft/s
GTProHunters 5575 wraped and Blazed
100 Grn Rcky Mtn Snypers & Stinger 4 Blade
STS, QAD Ultra Rest Pro
So Ive been going through my retirement plan, just making sure I'm doing whats best in todays economy... And I've always been a big fan of the 401k plans, its nice to get a company match and differ taxes. Plus its basically free investing for most people (company covers expenses/fees), not to mention its automatic so it's easy to stay disciplined...
Well I got to doing some reseach and saw where Argentina recently socialized all retirement plans and replaced them w/ a T-Bill (IOU) that they can inflate away to nothing by printing money...
I know this might sound paranoid, but as a result I've lowered my contribution amount to just get the maximum match, and I'm considering cashing it all out when I purchase a home... Just so the Dems dont give me a nice fat IOU after they socialize all retirement plans...
What do you think?
I'm betting its only a matter of time at this rate before the govt takes over the trillions of retirement plans. And uses the excuse that they are protecting people from market collapses/risk!
I have Double all my contributions to my 401K, there is no better time to buy IMO. If you're a long term investor you should have no worries.
If History repeats itself in 2010 the red nights will be back[:-]
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"it's not that I am lazy, I just don't care"
My concern is ACCESS, I agree that there is no better time to buy, well.... give it a few more months until we hit bottom... then buy...
Besides that I'm in the 15% tax bracket, so w/ all this govt spending I think deffering taxes could be a bad thing for me... I'm already putting the balance of what I stopped contributing to the 401k into cash savings, until the buy time is right... I'm really hoping for a slight dip in gold to buy some more of that, Ideal entry price is 750 IMO... I bout some 3 months ago when it dipped down there, I just wish I had more cash to buy at that time! I'm sitting happy w/ 20% return in that short time frame right now
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Hoyt VTEC 28" @ 74# 283 ft/s
GTProHunters 5575 wraped and Blazed
100 Grn Rcky Mtn Snypers & Stinger 4 Blade
STS, QAD Ultra Rest Pro
Besides that I'm in the 15% tax bracket, so w/ all this govt spending I think deffering taxes could be a bad thing for me...
Might consider a Roth IRA instead. The Roth could make sense if you're reasonably sure that you will be in the same or a higher tax bracket after you retire.
Whatever you consider, you'd better consider that you ARE definitely on your own. You will only have whatever you set aside after you work your last day. Now is not the time to not send dollars ahead through time for future use.
What do I think? I think you are a smart man, particularly if your funds will be in the plan for more than 5 years. Future tax revenues won't come CLOSE to paying off our debts, the Chinese are becoming exhausted investing INCREASINGLY more money in very low yielding treasuries to fund our debt, and the dems are worse than republicans on spending to ensure that the presses will be running flat out within a few years. Result:high inflation and devaluation of the dollar.
We are getting out, We are loosing 20+ percent per year now and I am retired and the wife is about a year away. I might as well buy ammo with it. It's advancing in value faster than anything.
I'm think I'm changing my views on 401k's
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