I'm a little miffed at the government right now.

[Jimbo S]

I'm in the middle of the third month of my new job and last week received my fifth paycheck. Only to find they deducted 6% for a 401-k contribution. I realize the government mandates enrollment unless one opts out. I thought I opted out, but amongst the confusion of a new job it turns out I did not.

I'm all for the government looking out for the populace in terms of food safety, workplace safety, etc, but mandating retirement fund enrollment is too far. I'm not 5 years old, I'm capable of my own decisions.

[panader0]

1. Contact your employer

[dflprincess]

2. Yes, but Wall Street needs your money

They know you can make your own decisions and they're afraid you'll decide you don't want to risk your money at all.

Making 401Ks an opt out deal instead of an opt in makes it easier for them to get their hot little hands on at least a few of your dollars - whether you like or not.

[Skink]

3. Lower your contribution then monitor your account.

I have learned a lot about finance by monitoring my 401k.

[msongs]

4. relax there will be a new government with corporations swindle when ppl have saved up some more $$

http://www.dailykos.com/storyonly/2010/7/19/885460/-The-Facade-Is-Crumbling:-The-Fraud-and-Looting-Continue

wall street, banks, and the wealthy top 1% have looted the working class and middle class. And guess who is stuck with the resulting debts? Not the banks and the wealthy top 1%. Privatize the profits and make the debt public responsibility.

Msongs

[dkf]

5. Find out if they match contributions first.

You may be throwing away your rightful compensation.

[Jimbo S]

13. Yes, they do

But currently I need money to pay bills short run.

[dkf]

19. Man you are missing out. Are you sure there us nothing you can cut in place of this?

Your contribution decreases your taxes and you get an instant return on your money! If you are nervous of the market now you can leave it in cash and still get the matching.

I'm just happy for you that you found a company that matches. That is a lot harder to find than it used to be.

[Jimbo S]

22. Trust me, I'm an engineer so I know all about the math.

I need to work about 43 hrs/week to just to break even with expenses.

Due to the economy, the only job I could find requires a 200 mile weekly commute. My second place (apartment) has just an air matress and analog TV. Keep the expenses down.

I will only be here a couple of years anyways. Then the next place I'll enroll again.

On edit: Plus, the company does the 401k match with company stock. Can anyone say 'Enron'?

[stray cat]

6. I assume that you also don't think the government should help those who don't save enough to retire?

after all they were not five years old and if they are broke and homeless they made the decision.....

[Jimbo S]

15. Bad assumption

I'm all for Social Security.

[Booster]

7. I can only suggest that you some how find a way to contribute

as much as you can to a 401K. When I retired after 34 yrs, I had just about $700,000 in my 401K and I can assure you that I would not have had anywhere near that amount if I had tried to do it by saving on my own. Just sayin'.

[HipChick]

9. +100

[Jimbo S]

14. After 11 months of unemployment

and my new job pays 25% less than the last, I trying to play catch up with my savings.

The Great Republican Recession has been rough on me, as others.

I agree with what you are saying, I contributed max at my last job. Right now I have short term cash flow issues.

[Booster]

17. Yeah, things are really rough right now. Hang in there and I wish

you all the luck in the world.

[Motown_Johnny]

8. you didn't opt out so it is the government's fault

interesting

[Jimbo S]

12. I thought I had opted out...

A new job and everything goes through the company website, not HR. But the retirement stuff is on yet different website I wasn't made aware of.

[nadinbrzezinski]

20. Then that is the company

not the government.

[Jimbo S]

21. The point is, why should one even have to opt out?

:shrug:

The people who want in should be the ones doing the legwork.

[Oregone]

10. Easy money for the bankers to play with

Aren't you glad pensions are a thing of the past? But you can count on these....they are guaranteed. That money will always be there. You are an owner now. Warren Buffet, look out!

[ixion]

11. Hey, they're just doing their job feeding Wall St.

It's not about you. ;)

[Freddie Stubbs]

16. "I'm not 5 years old, I'm capable of my own decisions" sounds like an argument for

making paying into Social Security optional.

[raouldukelives]

18. It is nice to know what you are profiting off sometimes

The problem I had with my 401k was that I couldn't specify where my money went. I couldn't sleep as well wondering if I was making money off Iraq.

[Zavulon]

23. Join the club. I'm well beyond "miffed."

If you think mandating retirement fund enrollment is too far, imagine what some of us feel about being forced to buy health insurance without a public option. The Repugs got us to pick up their idea and run with it, and although Obama swore it wasn't a new tax it suddenly is? So it's a broken promise or a lie, and we all have to enrich insurance companies. Offshore drilling, troop surge in Afghanistan, no Iraq drawdown, Gitmo still open and doing a smashing business...I expected so much more with a full majority and I really haven't seen anything I like yet.

I know I'd be more disgusted had McStain won, but I never thought I could be this disgusted under Obama. "Miffed" doesn't even begin to describe my disgust.