|
Title: If you have 401k, you might want to consider closing it out early.. Read this Post by: Nightstalker on October 24, 2008, 09:26:37 PM http://www.smallerindiana.com/forum/topic/show?id=1736855%3ATopic%3A168719 Quote The debate now is, even if you put that same money into 401k, you still would get taxed at the $100k a year. This is a classic example of imputed income tax. Taxing you on something that is considered of value even if you don't actually spend it at that time. The real kicker is, you still get taxed on this money in your 401k when you retire and start drawing down on that retirement account. This is called double taxation. Now that goes to bring up a Bill that Bush passed in, in 2006.. http://www.penny-saved.com/2006/08/18/401k-changes-on-their-way/ It looks and sounds good on paper, but when folks are being cut in pay on their checks without their knowledge or consent, theres something fucking wrong with that. Now when you look at the '06 bill, then look at the proposed new changes of double taxation, it looks like the shit was set up in stage. If not in the least they are exploit the new 401k investments of the passed '06 bill. Hears the serious thing. I was watching market news, and an analyst mentioned that congress looking to pass a bill under radar that would take a big chunk of 401k out and sink it into social security as "government financial investment". I need to dig up more info to confirm that, but if you've got 401k, you need to be on your toes about this shit congress is trying to do. Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Varg on October 24, 2008, 09:50:40 PM Hears the serious thing. I was watching market news, and an analyst mentioned that congress looking to pass a bill under radar that would take a big chunk of 401k out and sink it into social security as "government financial investment". Its people talking like that that are making this problem worse. The government isnt going to do that, especially under the table. Scaring people into pulling out of there 401k is going to hurt the market even worse. What newschannel did you see that on? That guy should be strung up. Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Jim Tressel on October 24, 2008, 09:56:28 PM what about my 403b?
Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Varg on October 24, 2008, 10:00:12 PM Us po folks dont know nuthin bout dat richy rich IT Director
Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Armonde on October 24, 2008, 10:06:05 PM I'm with varg, and not that Steve Shuck isn't a totally standup guy and all, but I like my information coming from non blogs, or at least cited ones =P
*edit* and when I say cited I mean I shouldn't have to google people who are mentioned in the article for the info. Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Jim Tressel on October 24, 2008, 10:39:20 PM LOL! Richy Rich eh? Not so much. I got a mean dose of humility the other day when I was asked to sit in on a Board of Advisors meeting for the John Glenn School. Some of the people in that meeting?
Dr. Charles Wise (https://pro.osu.edu/profiles/wise.983/) Joe Alutto (http://en.wikipedia.org/wiki/Joseph_A._Alutto) Tami Longaberger (http://www.glenninstitute.org/glenn/Board_of_Directors/longaberger.html) Paul Tipps (http://www.glenninstitute.org/glenn/Board_of_Directors/tippls.html) The Honorable Rob Portman (http://en.wikipedia.org/wiki/Rob_Portman) Annie Glenn (http://en.wikipedia.org/wiki/Annie_Glenn) Les Wexner (http://en.wikipedia.org/wiki/Wexner), yes, the 147th richest person in the country (http://www.forbes.com/lists/2008/54/400list08_Leslie-Wexner_AOB7.html) and of course: Senator John Glenn (http://en.wikipedia.org/wiki/John_Glenn) The entire meeting I sat quietly, my only thought being, "please don't ask me a question, please don't ask me a question, please don't ask me a question." Just being in room with this much money and power was pretty intimidating. Listening to them speak casually was something else entirely. Crazy experience. I felt very, very small even though I could've whipped every one of them in a round of fisticuffs, especially Annie. I hear she's got a glass jaw. Literally. Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Unnormal on October 25, 2008, 01:16:30 AM what about my 403b? Same hereTitle: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Hartz on October 25, 2008, 02:45:10 AM My 403b states
" buy a shotgun, move to western Canada and hunt wolves. Good luck with the rest of the shit" Title: Re: If you have 401k, you might want to consider closing it out early.. Read this Post by: Redbear8 on October 27, 2008, 07:15:33 PM My 403b states " buy a shotgun, move to western Canada and hunt wolves. Good luck with the rest of the shit" Mine is similar but mentions Texas and jack rabbits. (see long ass political thread) |