Comments on: Obama Versus McCain And Your Retirement Savings

By: Kay Richards

Kay Richards — Wed, 18 Feb 2009 09:18:00 +0000

The economy is headed for a much worse crash than imagined. Most small businesses have been enduring increasing overhead along with fewer customers for a long time now. Many small businesses have become less than marginal and will soon bite the dust. This happened to taxicabs in Los Angeles. They are a key leading economic indicator. They took 27 years to deteriorate with increasing overhead: car cost, gas, insurance, city franchise fees, fines, along with over-supply. Simply too many cabs competing against one another overloading the cab stands. But the main problem came when there were no longer any passengers. Fewer and fewer people had the money to take cabs. So cabs went out. Now restaurants are raising their prices and suffering from fewer clientele. We have a hollowing out of the middle class ever since the baby boomers. No one cried out about NAFTA/GATT the New World Order or the outsourcing of our remaining computer jobs. And so it is.

By: Finance » Blog Archive » Reflections on the Week

Finance » Blog Archive » Reflections on the Week — Mon, 10 Nov 2008 19:28:43 +0000

[...] Moolanomy writes an informative post on Obama Versus McCain in relation to one’s Retirement Savings, after which you should check out My Open Wallet’s post and comments in The Candidates’ [...]

By: Make Friends, Earn Money

Make Friends, Earn Money — Sat, 01 Nov 2008 12:17:53 +0000

Politicians will promise anything to get into power, but it is what happens afterwards that is important. I’ll wait to see how things work out after either is elected

By: Donny Gamble

Donny Gamble — Tue, 21 Oct 2008 02:53:29 +0000

I think chooses Obama will benefit your retirement savings down the long run. He will give you more incentive to invest in your future by lower your taxes on retirement savings

By: Marsadie

Marsadie — Mon, 20 Oct 2008 15:38:55 +0000

Let’s be honest — the majority of voters want and want to hear the “bandaid” solutions. Unfortunately.

By: BlueCollarDollar.com

BlueCollarDollar.com — Mon, 20 Oct 2008 14:35:26 +0000

We should also keep in mind that these are changes to tax regulations. By the time Obama actually takes office, only the unfortunate few will still be reeling over the credit mess. This makes no solution, even in the short-term, very appealing or probable.

Perhaps expanding the withdrawals to specific needs beyond what is currently allowed (college, first time home buyers), such as meeting current and past mortgage obligations or funding the cost of refinancing, using the assets in the 401(k) as collateral for those loans (which would mean blocking any further sales of investments in them and forbid reducing contributions below 3% of pre-tax income – 2% of which could go to repayment), and possibly even offering a government guarantee to businesses who continue to make or increase contributions and matches to the defined contribution plans to help the stem the temptation of selling.

Dismantling the system as it is structured, even temporarily would have long range effects on anyone fifty years or older. Short-term solutions are simply crowd fodder and can be mostly ignored.

By: Jason

Jason — Mon, 20 Oct 2008 14:03:31 +0000

Politicians won’t come up with long term solutions because they know most people don’t care about anything other than the here and the now. We live in a populist age.