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Are 401ks at risk now?

Discussion in 'The Okie Corral' started by Landmonster, Dec 1, 2012.

  1. Landmonster

    Landmonster

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    This is a serious question. Are private 401ks at risk now... of some sort of government confiscation or re-distribution plan?

    How can we tell? And when will it be too late to protect yourself if the government does decide to confiscate such plans?
     
  2. tous

    tous GET A ROPE!

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    When the hippie socialists get around to conficating private property, your 401k account, there will be no place where they can't get it.

    You didn't build it and what's yours is really theirs.
     

  3. JBnTX

    JBnTX

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    Obama is considering the nationalization of private retirement accounts like 401Ks and IRAs.

    They would all be placed in one big pot and the money then allocated out as needed.

    Of course, the government would confiscate more than their share.
    Which would then bankrupt the system, just like social security.

    If you're over age 59 1/2, take the money out and pay the tax,
    while tax rates are still low.

    Then put half in gold/silver and put half into cash.
    Take possession of the gold/silver half and bury it in your back yard.
    Put the cash in your mattress.

    Once double digit inflation hits and bank savings accounts are paying 9-10 percent, like they did in the 1970's, then put the cash in the bank.

    Let the gold/silver set. Use it last.

    ..
     
    Last edited: Dec 1, 2012
  4. Landmonster

    Landmonster

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    Right now I don’t know if there is anything to be scared about... yet.

    We can’t control or predict the future, so the best course of action is probably to continue preparing the best we can based on the information we have at hand.

    This means to continue making investments based on current tax laws, while being mindful of possible changes. Personally, I am preparing for retirement by investing in my 401k and IRA, and I am also investing in taxable (non-retirement) investments when I can.

    I don’t think it’s wise to let fear and unsubstantiated rumors drive one’s investments and retirement planning. On the other hand... there's a lot of crap happening in the USA that I never thought would happen.
     
  5. Jonesee

    Jonesee

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    Not one shred of evidence of this other than the tin-foil conspiracy theorists.

    I could write a dissertation on why not. In another post I practically did.
     
    Last edited: Dec 1, 2012
  6. Landmonster

    Landmonster

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    Do you have any sources on this?

    What if a person has like $300k saved, vs. a guy who has $15k saved? Would it just be distributed equally to them both?
     
  7. aircarver

    aircarver Descent Terminated Silver Member

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    ... From each, according to his ability...

    ....to each, according to his needs ... :whistling:

    .
     
  8. tous

    tous GET A ROPE!

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    You apparently don't underdstand modern hippie socialism. 'Their' funds will be allocated based one's lack of ability for critical thinking, how much free stuff you are already receiving from the goverment and whether you are a member of a public service employee union.

    The more you take, they more they'll give you until they run out of other people's money to steal.
     
    Last edited: Dec 1, 2012
  9. M&P15T

    M&P15T Beard One

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    :rofl::rofl::rofl:

    Good Lord!!!

    We need some tinfoil hats in these parts!!!
     
  10. Jonesee

    Jonesee

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    Yes, Please.

    Post a a reliable source... Please.
    (hint... there isn't one)
     
    Last edited: Dec 1, 2012
  11. meathead19

    meathead19

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    Really??? They forced Obummer care down our throats....who says they won't come after something else they want?
     
  12. hammerkill

    hammerkill

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    The scum politicians have run up the debt to the point where they will have no choice but to sieze the 401k's. This will be the last ditch effort to kick the can down the road. If you don't think it will happen then apparently you don't know that obama won the election. The deadbeats won. We are in an economic death spriral.
     
  13. M&P15T

    M&P15T Beard One

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    :rofl::rofl::rofl::rofl:

    I really had no idea that Chicken Little joined G.T.
     
  14. JBnTX

    JBnTX

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    Do a Google search, it's all over the internet.

    [ame="http://www.youtube.com/watch?v=cGlZQDWnrXQ"]401(k) IRA Nationalization *** Quietly Moves Forward - YouTube[/ame]

    [ame="http://www.youtube.com/watch?v=zuLfcROlrSg"]Mark Levin interviews Dr Ghilarducci about nationalizing 401K's (Part 1) - YouTube[/ame]

    ..
     
    Last edited: Dec 1, 2012
  15. Jonesee

    Jonesee

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    That is speculation not evidence.

    Here is the difference:

    I can speculate you wear women's panties and a tutu at night.
    But, I have no evidence of it.

    JBnTX, this applies to you also. Evidence is not a blog or commentary.
     
    Last edited: Dec 1, 2012
  16. devildog2067

    devildog2067

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    I don't think we're anywhere near a point where the government could just confiscate our 401k's, but I can easily see the tax code being "changed" to effectively steal a big chunk of it.
     
  17. Ragnar

    Ragnar

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    Actually, we had the opportunity to control the future but blew it by re-electing Obama.

    As for predicting it, we will get more of what we just had for the last 4 years.

    I put nothing beyond the Obama regime, including confiscatory tax rates or practices.
     
  18. aircarver

    aircarver Descent Terminated Silver Member

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    They have an insatiable need for money, and will seek it wherever it is ...

    .
     
  19. Jonesee

    Jonesee

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    DD, exactly. You are a man with a rational thought process.