401K's never designed for retirement...
EmeraldCityGrl
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:23 PM
Original message
401K's never designed for retirement...
According to Rep. George Miller on CNBC. Huh? Now they tell us...:crazy:
ingac70
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:24 PM
Response to Original message
1. Then what the hell were they for?
Thank goodness I never got suckered into putting my money in that crap.
TechBear_Seattle
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:24 PM
Response to Original message
2. So Miller is saying that the US Tax Code is lying when it calls them retirement accounts?
Edited on Tue Oct-07-08 03:28 PM by TechBear_Seattle
Read the US Tax Code,
Section 401(k) for yourself.
:eyes:
endarkenment
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:26 PM
Response to Original message
3. obviously he is correct
think about it: sucker all the boomers into the market and then when they get to retirement age: POW! They were designed to screw us.
speedoo
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:27 PM
Response to Original message
4. There is so much misinformation about 401k's out there.
I like Miller, his heart's in the right place, but what he was really saying is the 401k program needs to be restructured and I agree.
Xenotime
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 09:21 PM
Response to Reply #4
7. I agree too. There should be a portion that goes to those who can't afford retirement.
A more fair distribution of investments is what will balance those who are no longer working.
NC_Nurse
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 03:27 PM
Response to Original message
5. They were designed to get companies out of having pension programs...
now yer on yer own - heh heh....
Hannah Bell
(1000+ posts)
Send PM |
Profile |
Ignore
Tue Oct-07-08 06:45 PM
Response to Reply #5
DU
AdBot (1000+ posts)
Sun May 05th 2024, 09:56 PM
Response to Original message
Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators
Important Notices: By participating on this discussion
board, visitors agree to abide by the rules outlined on our Rules
page. Messages posted on the Democratic Underground Discussion Forums are the
opinions of the individuals who post them, and do not necessarily represent
the opinions of Democratic Underground, LLC.