How would you feel if your 401k?

How would you feel if your 401k? Topic: Ira papers
July 19, 2019 / By Georgie
Question: was confiscated and added to Social Security? Last I checked I was down 40+ % since the Democratic takeover in 2006. Now Obama has devalued currency by printed trillions of unbacked paper money, so I will guess another 5-10% drop in value. But now, what do you think about the government taking your 401k money and putting it in Sociali Security for others to use including people with stolen SSNs? Unless Madoff was a democrat in congress my money never went thru his Ponzy Scheme, but I do have some going into Uncle Sam's Ponzy scheme.
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Best Answers: How would you feel if your 401k?

Delores Delores | 2 days ago
That is Obama's grand plan. If the market tanks enough, it will make the gov. backing up 401Ks and IRAs seem like a godsend. At that point we are all dead. They will waste it all and spend it all and we will be left cleaning the messiah's feet, kissing his hands, and begging for bread. Just the way Obama likes it. BUY GOLD BUY GOLD BUY GOLD BUY GOLD BUY GOLD BUY GOLD
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Delores Originally Answered: What should I do with my 401k plan?
You should put everything in a basic S&P 500 fund with low expenses. If your 401K does not allow this move convert it to a IRA that does allow this. Most online brokers will handle all the paper work for you.
Delores Originally Answered: What should I do with my 401k plan?
4% yearly growth is HORRIBLE! I mean horrible! Phillips 66 stock DOUBLED the past 2 years, Wendy's stock has a 80% gain in the past year alone, why get a lousy 4% with fees when you can get an easy 20% +! ....Roll your 401K into a ROTH IRA! It's super easy to do and a ROTH IRA is always TAX FREE! You can open a online Scootrade account and they will assit you in doing the rollover. Then buy good safe stocks that you cannot go wrong with, stocks like McDonalds, Phillips 66, Walmart, GE, Walgreens, Wendy's, YUM, American water Co. and the like. Individual stocks will always out perform a index fund because the index fund always has a lot of trash stocks in them plus management fees. The stocks I just listed have a great track record of growrh and pays a 3% or more yearly dividend!

Cady Cady
Not gonna happen...but tell me. Exactly how does someone with a stolen social security number get a social security benefit that they didn't earn? Someone uses my social security number and works then I get an extra benefit of their additional income. They can't get the benefit until I turn age 62 and by then I would have noticed the extra income on the insert that is now sent out annually by SSA. So clue me in...how can they do this?
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Allyson Allyson
Chances are, most of your 401k is gone anyway. Most people's 401k's have bled away and there's precious little left. It doesn't much matter for now. I feel very sorry for those who are at retirement age, poured funds into the 401k, lost it all through thievery and corruption, and are trying to figure how how they are going to live in their old age on funds they were counting on and no longer have. So to keep our elders from starving, because their retirement savings were also robbed, I guess we try to help them out. The good ole USA has gone all to *ell right now. Heaven help us.
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Allyson Originally Answered: What is a 401k (please explain)?
It is an employer sponsored, employee funded retirement plan. There are a lot of rules that govern a 401(k) plan and the name comes from the section of the tax code that describes it. Money that goes into a standard 401k plan is not taxed when it goes into the plan. However the money is taxed when it comes out. The money cannot come out of the plan before you turn 59 1/2 years old. If it does, you owe the taxes on it and pay a penalty on it too. As an incentive, some employers match some portion of the money going into it. Currently there is a limit on how much money can go in tax deferred, $17,500 for 2013 (if over 50 you can add another $5500 to it). Depending on the employer there are several choices of investment that can be made within the 401k plan depending on your comfort for risk and the returns you are seeking for your money. There is a new variant of the 401k called a Roth 401k. Not all employers offer it. For a Roth 401k, like a Roth IRA, the money goes in after tax and comes out tax-free too. good luck!

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