401K and IRA's Cancel The title field is required!

1. Sandy Clark

   

   0 posts
   
   4/26/2012 2:04 PM

   Don't think for a minute that all of us won't end up paying 20% more than the current tax we pay when we begin to draw that money down. They will quickly look at what you have built up, not what we have taken out for our 401K and determine that you must be rich and we need more of it. Maybe I am cynical but I have seen too many of these government schemes to believe any different. I earned and saved mine so I would not be a problem in later years. The government is bound and determine to make sure I am dependent! Vote for Mitt if you want the country to survive these next 4 years!
   
   David, I just noticed a headline about the Secret Service and El Salvador. I haven't read anything yet but it does include hookers again.

   
   
   
   
2. Larry Allan

   

   0 posts
   
   4/26/2012 2:04 PM

   Sandy, I think Scotties question is valid. In reading this whole thing I haven't seen anyone refer to an actual bill that will do this. Is this just something you have heard, heard proposed or what?
   
   I know we are limited as to how much we can put into our retirement plan which I think is 18 percent of our gross per annum, but upon drawing on it, it is taxed at the taxation rate of income.

   
   
   
   
3. Sandy Clark

   

   0 posts
   
   4/26/2012 5:04 PM

   Larry, I am sure it is just one of those trial balloons and I hope it dies a quick death. If I wasn't just about 66, I probably would think that in the long run it might not hurt me that much. I don't have a second chance to earn it again and if lucky will work until I am 72 in my current position. I don't think for a minute that I wont try to find some industry related part time job when I finally do retire. All indications are that both my wife and I could live to reach 100. We both have tons of family history that make that possible. I hope to have my house paid nearly off and between eventual inheritance and savings, have a large next egg put aside. I figure we need to function for a minimum of 34 + years. I have to think much longer term than most and have to be prepared financially for the so-called golden years. It isn't going to be cheap!

   
   
   
   
4. Wallace Jeffrey V

   
   4/26/2012 7:04 PM

   Sandy Clark, CGCS said: I would burn my money and jump off a high bridge before I will give it to be fair to others! I earned and saved it, they didn't, this isn't negotiable!

   
   
   Sandy,
   
   I have a better idea. I'll hold on to your cash, and when the bungee cord yanks you back up to bridge level, I'll give it back to you. You'll still have your money, and you will have made a statement against tyranny heard around the world. If the cord snaps, I'll use part of your money to buy a new one and we'll try it again. If it snaps a second time, then I'll publicly light up a cigar with a hundred dollar bill. Kind of an "in-your-face" protest against the government. In your honor, naturally.
   
   And I promise to credit you during any television appearances, of which I hope there are many. Especially Jon Stewart. Girls dig guys that appear on Stewart's show. So what do you think? Sound like a plan?
   
   (Dave, I hope your remarks will be slightly more restrained this time. After the Vegas fiasco, well.....you understand.)

   
   
   
   
5. Ronald Kirkman

   

   40 posts
   
   4/26/2012 11:04 PM

   Sandy,
   
   Heard on the news this evening - prisoners & murderers who are out of jail on parole suffer from Post Traumatic Stress and are eligible for Social Security. How many others in the U.S. are receiving checks. They are actually receiving checks.
   
   Capt. Kirk
   Retired Alien
   Needham Golf Club
   Needham, MA 02492

   
   
   
   
6. Larry Allan

   

   0 posts
   
   4/27/2012 6:04 AM

   We had a guy, Cliford Olsen, who was a serial child killer. 25 + murdered over his career. When he turned 65 behind bars he offered to donate his Canada Pension and Old Age security checks to the Conservative Party. Nobody until that point realized that the law hadn't taken this into consideration. It was very quickly changed so that prisoners were no longer entitled while we were paying for their room and board

   
   
   
   
7. Wahlin Scott B

   
   4/27/2012 8:04 AM

   Ronald Kirkman said: Sandy,
   
   Heard on the news this evening - prisoners & murderers who are out of jail on parole suffer from Post Traumatic Stress and are eligible for Social Security. How many others in the U.S. are receiving checks. They are actually receiving checks.
   
   Capt. Kirk
   Retired Alien
   Needham Golf Club
   Needham, MA 02492

   
   
   http://www.myfoxboston.com/dpp/news/undercover/con-receives-disability-for-ptsd-after-serving-time-20120426

   
   
   
   
8. Sandy Clark

   

   0 posts
   
   4/28/2012 11:04 AM

   Jeff, I have one major problem with my threat. I am scared to death of heights so bungee cords and tall bridges or buildings really won't happen!