whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
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Post by whoisjohngalt on Sept 21, 2012 11:26:05 GMT -5
So, I've "heard" that there is an idea floating around that govt wants to seize 401K and/or redistribute it or something. How much of it is true? do you believe it? If you do, has it changed your contributions at all? Have I gone completely coo-coo listening to weird rumors??  Lena |
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Deleted
Joined: May 1, 2024 17:38:46 GMT -5
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Post by Deleted on Sept 21, 2012 11:27:39 GMT -5
Zero of it is true. No it has not changed my mind.
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swamp
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Joined: Dec 19, 2010 16:03:22 GMT -5
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Post by swamp on Sept 21, 2012 11:28:41 GMT -5
I think the actual rumor is that the government wants to tax the contributions.
adn no, I haven't changed my game plan.
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whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
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Post by whoisjohngalt on Sept 21, 2012 11:29:50 GMT -5
Whew, good to know. thanks
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thyme4change
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Post by thyme4change on Sept 21, 2012 11:54:11 GMT -5
We are a long way off from the government even considering seizing 401k money. This is just one of those things people say to get everyone all worked up. They are hoping stupid people will believe them, and then vote against the party that is reportedly going to do so.
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whoisjohngalt
Junior Associate
Joined: Dec 18, 2010 14:12:07 GMT -5
Posts: 9,140
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Post by whoisjohngalt on Sept 21, 2012 12:30:52 GMT -5
hmmm, note to self - refrain from posting stupid things ;D
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reader79
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Post by reader79 on Sept 21, 2012 12:32:19 GMT -5
I haven't listened to the rumors, and I am looking forward to increasing my contribution when my debt is gone. I just hit $50K last week.  I am 33, and that is pretty much what I will have to rely on in retirement. If they seize it, and deny me public assistance, I'm sure I can find a nice high speed train to jump in front of. |
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Sum Dum Gai
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Post by Sum Dum Gai on Sept 21, 2012 13:23:00 GMT -5
There's always one odd ball politician here or there talking about how much tax deferred money is out there in retirement plans whenever the government starts looking for new revenue. However, it's never a serious proposal by the speaker of the house or something like that. I think both major parties realize they'll be utterly crucified if they vote for something like that. It would be party wide political suicide. There is no way in hell I'd ever vote for a D or an R again even in local elections, if a party really went after my retirement money.
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midjd
Administrator
Your Money Admin
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Post by midjd on Sept 21, 2012 15:07:32 GMT -5
OMG Dark, your names... please don't pick one, I like the scrolling action!
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Wisconsin Beth
Distinguished Associate
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Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Sept 21, 2012 15:08:42 GMT -5
Virgil's agreed to do a poll for us, but Dark has to approve it first.
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Formerly SK
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Post by Formerly SK on Sept 21, 2012 15:23:01 GMT -5
OMG Dark, your names... please don't pick one, I like the scrolling action!  It's good to see you putting those valuable IT skills to use!  |
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lynnerself
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Post by lynnerself on Sept 21, 2012 18:04:10 GMT -5
The government is not known for getting rid of popular tax relief programs, the deduction for interest on home loans for example.
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I am 33, and that is pretty much what I will have to rely on in retirement. If they seize it, and deny me public assistance, I'm sure I can find a nice high speed train to jump in front of.
