Comments on: Obama’s 401k Plan Is A Double-Edged Sword

By: Chris

Chris — Mon, 03 Aug 2009 12:58:27 +0000

So in a nutshell, does anyone think that Obama and Congress and the rest want to take our 401ks, IRA, retirement accounts and dump those billions into Government based (3%) retirement accounts for the masses?

Anyone have any ideas?

By: mike

mike — Sun, 10 May 2009 07:07:43 +0000

i like not haveing the penalty.
my wife lost her job i got layed of and had to find another job
but found one that pays half.
i had a lone that i used to buy my home.
and when i left my old job they converted my load to a cash withdrawl
and i had to pay the penalty.
i have never had to pay anything to the irs because i have always claimed married but hold out a higher rate.
not this yr i had to set up a pament plan with them to pay off the tax debt (that was all penalties)

i could use some help like a no penaly i have always payed my taxes and tried to save for my future and my family. but i had no other options in this matter.

By: Jen

Jen — Fri, 27 Feb 2009 14:45:38 +0000

I sure hope you are right.

By: Pinyo

Pinyo — Thu, 26 Feb 2009 22:07:09 +0000

@Jen – I doubt that will happen. Worse case scenario, they will just print more money making our savings worth less.

By: Jen

Jen — Thu, 26 Feb 2009 22:04:18 +0000

What are the chances the government will some day say “There is so much money in peoples’ personal 401K, IRAs etc, we feel it is in the best interests of the country to take that money for the better good of the nation.” Then they will take that money and use it for whatever they see fit.

By: Pinyo

Pinyo — Tue, 24 Feb 2009 03:38:04 +0000

@Joy and Bazz — I haven’t keep up with the news lately, but I’ll post something if I hear about it. The last thing I heard was aid for homeowners that are at risk of foreclosure, new home buyer credit, and possibly car buyers sales tax deduction.

By: Bazz

Bazz — Mon, 23 Feb 2009 17:13:24 +0000

I’m with Joy, still waiting to hear if early penalty free 401K withdrawls were included in the recovery plan as Obama said over and over .

By: joy griffin-alsheimer

joy griffin-alsheimer — Tue, 17 Feb 2009 18:44:01 +0000

Is removing my money from my 401k still an option? Is it part of the stimulus or not?

By: joy griffin-alsheimer

joy griffin-alsheimer — Tue, 17 Feb 2009 18:40:25 +0000

I’m personally for taking money out of my 401k now and paying off high interest credit cards and making some needed home improvements rather than losing it on the stock market!

By: Texrat

Texrat — Wed, 28 Jan 2009 18:43:45 +0000

Thanks for the reference @Pinyo. I’m glad I checked out your blog!