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Old October 7th, 2008 #1
William Robert
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Default Is contributing to a 401(k) pension plan wise?

BAILOUT VOTE CONSTITUTIONAL? - 401(k)s BLEED
http://www.newswithviews.com/Devvy/kidd400.htm

(Excerpt)
401(k)s. For almost three weeks, popular financial guru's on both the tube and Internet have been telling people these bail out bills would not have any effect on their pension plans or 401(k)s. Keep investing in the stock market and don't touch those 401(k)s! While speaking to my attorney friend out in DC over the weekend, he told me a friend of his checked his 401(k) and found it had lost 47% last week. That's not the only one. Another man I know lost $35,000 of his 401(k) last week and a wonderful lady who emails me all time, Nettie, said her husband's 401(k) had lost almost $60,000 and she was very worried about his mental health. They're in their late 60s and it's too late for them to start over.

Retirement accounts have lost $2 trillion so far
http://biz.yahoo.com/ap/081007/meltdown_retirement.html

Americans' retirement plans have lost as much as $2 trillion in the past 15 months -- about 20 percent of their value -- Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs.
 
Old October 8th, 2008 #2
fdtwainth
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The short answer to your question, no, because of the systemic risks involved. It is wise to convert your 401(k) into money as soon as possible despite penalties associated with this decision.
 
Old November 27th, 2008 #3
QuikSilver
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No. Put in the bare minimum you have to by law in your pension plan, but allocate most into gold that you buy privately and hold it until it is time to retire. I don't care if you get a tax break on such a purchase or not. If you don't take care of your pension yourself privately, you will lose your 401(k) at any time of your 40-50 years of your career.
 
Old November 29th, 2008 #4
Joe_J.
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I stopped contributing about a year and a half ago to mine. Started doing major silver buying.

Congress, recently, has talked about not only taxing 401 but also taking them over as part of Social Security.

The mindset of Congress' buffoons is that the allowance of 401 to be exempt from payroll withholding is a 'subsidy'.
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Old November 29th, 2008 #5
Scott Clarke
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At last look, I was 18 grand in the red. And that was some time ago. God I hope things get better.
 
Old November 29th, 2008 #6
Horseman
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back when I was working as a lemming in the zog system, I did rather well with my 401K. This was despite languishing stock markets. I put all my money into bond funds rather than stocks. They are the most conservative type of fund. Thus you can get your matching money and a save investment.
 
Old December 7th, 2008 #7
Dale VanderMeer
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Better yet, join a local credit union and buy an IRA from them. The credit unions are hardly tied into the jewed banking system and are independent.
The rates for IRA are modest, but well worth it. Invest very little into a aggressive growth 401K and more into it's government securities. However if your employer is matching quite a lot into it, do invest in a 401K. Make sure that the 401K's board isn't full of jews and greedy "kwans first.
Quote:
Originally Posted by fdtwainth View Post
The short answer to your question, no, because of the systemic risks involved. It is wise to convert your 401(k) into money as soon as possible despite penalties associated with this decision.
 
Old December 7th, 2008 #8
Marse Supial
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Most 401(k)s have an employer matching provision for a certain level of contributions. In other words, you employer matches your contributions up to a certain dollar amount -- usually from 5 to 10 percent of your earnings. That's an instant 100% return on your investments. And it's tax deferred. You're crazy if you don't take advantage of that.

You don't have to buy stocks with your investment. You can keep it 100% in cash if you choose. Or a money market account. Different 401(k)s give you varying levels of choice, but to the extent you are in cash, you are insured by the SIPC just as if your cash was in an FDIC bank. Granted, that doesn't mean as much as it used to. But still, I think it's a great investment, if for no other reason, the matching contributions.
 
Old December 8th, 2008 #9
WhiteTexan68
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My 401k has lost over 40% since October.
 
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