tag:blogger.com,1999:blog-3758330678390419129.post2853083153599088984..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: How the Government Is Coming After Your IRA and 401(k) PlanRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger43125tag:blogger.com,1999:blog-3758330678390419129.post-66024106735895839802014-02-14T14:32:54.282-05:002014-02-14T14:32:54.282-05:00Atlas Shrugged, 1984 come to mind. The Liberty Amm...Atlas Shrugged, 1984 come to mind. The Liberty Ammendments by Mark Levin is a good read and keep only what you need iin the bank. hard assets. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-23071813676290048182014-02-05T15:00:01.223-05:002014-02-05T15:00:01.223-05:00I read "The Demographic Cliff" by Harry ...<br />I read "The Demographic Cliff" by Harry Dent. He is predicting deflation coming soon, with a continuation of the real estate and stock market bubbles bursting. He attributes this to an aging population in the U.S., such as Japan has seen for the last ten years, during which their economy has been in a coma, in spite of massive government stimuli.<br /><br />If he is right, cash Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17520432221540055132014-01-29T17:01:33.293-05:002014-01-29T17:01:33.293-05:00You can withdraw the taxed portion of your savings...You can withdraw the taxed portion of your savings with a 10% penalty at any age. I've done it and I am not 59 1/2.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-47533726001583393992014-01-15T11:48:46.571-05:002014-01-15T11:48:46.571-05:00Change jobs. Roll it over into a self-directed 401...Change jobs. Roll it over into a self-directed 401k (trust account). Loan yourself 50% at 1% interest and buy the things you need for survival...........I'm just saying.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-33269747604163264592013-05-16T20:18:14.374-04:002013-05-16T20:18:14.374-04:00Currency printed out of thin air = purchasing powe...Currency printed out of thin air = purchasing power (credit).<br />Currency someone receives 'after' they work = buying power.<br /><br />What happrnd when they print/ spend currency, then call it money? You may think the currency printed and spent already had value.<br />If it did, then debt would decrease, not increase.<br /><br />However, the currency they collect from taxes/interest/Anonymoushttps://www.blogger.com/profile/01422638069145429593noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-25843253997071302992013-03-21T19:16:43.119-04:002013-03-21T19:16:43.119-04:00DUDE! Have them roll it over to an IRA, then get a...DUDE! Have them roll it over to an IRA, then get an eviction notice THEN pull it out of IRA! THAT is the exception to the penalty.WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-18842352917057330772013-03-21T19:15:27.332-04:002013-03-21T19:15:27.332-04:00It's coming.It's coming.WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-74965783524572093122013-03-21T19:15:10.299-04:002013-03-21T19:15:10.299-04:00you can't not take a 401k with penalty unless ...you can't not take a 401k with penalty unless you are 59 1/2. You have to roll it over to an IRA then you can get an eviction notice and won't have to pay penaltyWinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17457406563611890222013-03-21T19:13:53.143-04:002013-03-21T19:13:53.143-04:00No I didn't!!! I call obummer a traitor which ...No I didn't!!! I call obummer a traitor which is what he is, if he's even a born citizen. Sheriff Joe and Co has reason to believe he's not. I say "FIRING SQUAD!" If he's not a citizen!WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-63951556787740492182013-03-21T19:12:20.060-04:002013-03-21T19:12:20.060-04:00it has to come out of an IRA. It doesn't count...it has to come out of an IRA. It doesn't count for employer invested retirement tho, only if you invested as well.WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-1200957631835552862013-03-21T19:10:58.429-04:002013-03-21T19:10:58.429-04:00If you quit, they have to either send it to you an...If you quit, they have to either send it to you and you pay a penalty or roll over into an IRA. I would suggest the IRA, then get an eviction notice and pull it out so you can get the penalty exemption. I'd hurry before they get rid the the exemption, and it's only good on IRAs.WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-2258355192688730222013-03-21T19:07:32.733-04:002013-03-21T19:07:32.733-04:00If you believe that this plan is the guarentee, I ...If you believe that this plan is the guarentee, I have ocean front property on top of Laramie Peak to sell to you. They pay out to supposedly handicapped people, I've heard talk of them using ss for funding other "political responsibilities", and most don't get that much on ss income. Unless they made ALOT of money back in the day. Most I've seen was around 12k to 16k a yearWinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-28257530858892770042013-03-21T19:02:13.719-04:002013-03-21T19:02:13.719-04:00If they don't give it all to illegal aliens, t...If they don't give it all to illegal aliens, to ppl claiming to be handicapped and get out of work, or if the money isn't used for other "political expenses" then we MIGHT get some of it back... just saying...WinchestersWitchhttps://www.blogger.com/profile/10234551270860358240noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86450314046470715332013-02-21T23:52:24.619-05:002013-02-21T23:52:24.619-05:00You folks are all a bunch of conspiracy theory jun...You folks are all a bunch of conspiracy theory junkies. I cannot imagine anyone so foolish as to liquidate their 401k. As for Obama being a fascist.....that was George W.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-44159311143489055542012-12-28T13:01:37.498-05:002012-12-28T13:01:37.498-05:00I'm slowly exiting all my qualified plans, tak...I'm slowly exiting all my qualified plans, taking the penalty now, and transferring everything to Permanent Dividend-Paying (Mutual) Whole life insurance. You'll effectively get taxed on the seed not the harvest, allowing your money to begin working for YOU not the banks and the IRS. Anytime you want you can EASILY borrow up to your policy's cash value and have flexible repayments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-30605066174636513992012-12-17T17:42:36.296-05:002012-12-17T17:42:36.296-05:00By law, you can't take it out until your emplo...By law, you can't take it out until your employment terminates with that employer. However, in the meantime, you can take out up to 50% via a loan and invest it elsewhere.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-17652783557380172072012-12-13T06:34:38.774-05:002012-12-13T06:34:38.774-05:00401(k) horror story - I left one job to go to anot...401(k) horror story - I left one job to go to another, and had not yet gained the priviledge of the wonderful 401(k) program (pure sarcasm), at the new facility. I chose to withdraw MY MONEY from MY 401(K) with the previous employer. TransAmerica was the "holder" and by that I mean the thief. It was bad enough I had to pay federal and state tax on my own money, but these POS had the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-73329618110826802662012-12-13T06:26:12.664-05:002012-12-13T06:26:12.664-05:00Well this whole "Retirement USA" thing m...Well this whole "Retirement USA" thing may sound appealing to the economic illiterate, aka the modern left, it's important to note that it's just another coffer to raid... All one has to do is look at Social Security for proof. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27692330327018490402012-12-12T00:54:57.695-05:002012-12-12T00:54:57.695-05:00Well, it is possible to 'earn' less money,...Well, it is possible to 'earn' less money, thus putting yourself into a much lower tax bracket. It's your choice.bsfootprinthttp://bsfootprint.comnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-67309595268710671932012-12-12T00:53:03.142-05:002012-12-12T00:53:03.142-05:00My company 401(K) is through Wells Fargo and altho...My company 401(K) is through Wells Fargo and although it wasn't easy to get it done through the system, I had my funds moved to a "Self Directed Account" (SDA) - this allows me to select whatever I want to invest in (not just their list of 25 really lousy mutual funds and REITs). I'm still in my 401(K) but have seen Significant growth as I've had it in good PM stocks for Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-27167392800107515032012-12-11T20:45:00.636-05:002012-12-11T20:45:00.636-05:00You will pay taxes on anything that comes out of a...You will pay taxes on anything that comes out of a 401. It is considered income. And I would not worry about anyone doing something to pre-existing 401's. Read this and nobody should tell investors to get out now... there gonna be mad at you!<br />http://www.brookings.edu/research/papers/2009/07/automatic-ira-iwry Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-58658041944324816372012-12-11T20:30:09.916-05:002012-12-11T20:30:09.916-05:0035% bracket + 10% penalty= 45% tax hit. I'm s...35% bracket + 10% penalty= 45% tax hit. I'm seriously considering it, I have only a few more days to make the call. I don't see taxes ever going lower. It will either be the best call I've made or the worst.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-59729806848011509602012-12-11T18:39:51.259-05:002012-12-11T18:39:51.259-05:00This is something only an illegitimate government ...This is something only an illegitimate government would do. Oh, wait. I forgot. We DO have an illegitimate government. <br /><br />Taking private retirement funds is the same as trying to take our guns and would result, for them, in equal consequences.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-64592358151688170742012-12-11T18:29:33.145-05:002012-12-11T18:29:33.145-05:00Dead on. I retired debt. My 'savings' i...Dead on. I retired debt. My 'savings' is in hard assets. I intend to make it very, very hard for the Government to get at what I have.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-20845320836973896292012-12-11T16:39:08.017-05:002012-12-11T16:39:08.017-05:00I'm a financial adviser and I'm telling my...I'm a financial adviser and I'm telling my clients to pull their money out of any retirement plans - even the younger folks. Take the hit, pay the tax and do whatever with it. Having 70% of it or whatever is better than having none of it. Or worse, having the government 'invest' it for you so they can blow your savings (ie: using IRA/401 money to monetize the debt). I hope someoneAnonymousnoreply@blogger.com