Comments on: 401(k) Investors Can’t Get Money

By: Lola Flores

Lola Flores — Wed, 17 Jun 2009 01:48:57 +0000

I’ve been saying this all along: it’s only a matter of time before they figure out how much there’s sitting in retirement accounts and devise a scheme to get their hands on it. Now that SS is gone, this is a reality more than ever. Truly sickening realization to see that first, we’re robbed out of money from our paychecks before we even see it with the excuse of our retirement. Then, they blow that money on wars, bailouts and all kinds of payola. Since that isn’t enough, they talk us into saving more in separate accounts so they can figure out a way to get their stinking dirty paws on that too. And by Galee, they’ve figured it out and the day is here!

By: Gary Gibson

Gary Gibson — Mon, 18 May 2009 13:28:36 +0000

Sorry, Butch. I meant to change that.

By: Butch

Butch — Sun, 17 May 2009 13:34:09 +0000

Your credibility was just flushed down the toilet. You inveigh against ‘defined benefit’ plans, but then discuss 401(k)s. Since these two are different, to which are you referring? 401(k)s are ‘defined contribution’ plans. How do you expect readers to believe your writings if you do not write correctly?

By: 401(k) Investors Can’t Get Money | margaret sanger

401(k) Investors Can’t Get Money | margaret sanger — Sun, 17 May 2009 08:23:57 +0000

[...] own accounts and some even allow outright withdrawal of matched funds—with the requisite 10% penalty and income tax. The only way to get all of it, however, has been to terminate employment…but now even that’s not good enough. Read the full article [...]

By: 401(k) Investors Can’t Get Money | pandemic

401(k) Investors Can’t Get Money | pandemic — Sun, 17 May 2009 07:32:41 +0000

By: 401(k) Investors Can’t Get Money | cdc

401(k) Investors Can’t Get Money | cdc — Sun, 17 May 2009 07:28:45 +0000

By: Ann

Ann — Fri, 15 May 2009 23:32:36 +0000

Regarding this: ” “We should have picked our own cotton! I also shoot straight and a little hard. By the way if I really wanted to, I can easily check out your website, but I could care less, I already have much too much to read on a daily basis. Happy Hanukah.”

I need to know why this man from 95% white Irvington, NJ, “back in the day” cannot use proper English and say, “I COULDN’T CARE LESS” instead of the annoyingly incorrect “I could care less.” Could it be that, because he did not pick his own cotton, he failed to understand the importance of speaking English well in America? Could he have missed the day his English teacher taught that “I could care less” implies that he does indeed care? Sheesh! And he’s Jewish? Double sheesh. Sheesh !!

By: Gary Gibson

Gary Gibson — Fri, 15 May 2009 13:58:43 +0000

Thanks for the input.

I stand by my point. Do not put your money into any of these things.

And you can’t eat cash either.

By: 3 $ Bill

3 $ Bill — Fri, 15 May 2009 10:55:27 +0000

You can roll your 401K into an IRA and take the money out about 1 week later. Don’t believe this article and let your money sit in your tension fund. As far as gold goes, you can’t eat gold! If you are looking for short term investments try buying food. Food is increasing in value as a percentage faster than metals. In a 3 month time frame, you would have made (or saved) 30%! Plus, if the SHTF, you can always trade food. What are you going to do with a 5oz bar of gold? Give up your life defending it?

By: Nancy

Nancy — Fri, 15 May 2009 04:42:23 +0000

“Turns out that the money you put into the 401(k) can be locked up a lot longer than you’d like. Most plans allow investors to borrow from their own accounts and some even allow outright withdrawal of matched funds—with the requisite 10% penalty and income tax. The only way to get all of it, however, has been to terminate employment…but now even that’s not good enough.”

True and not true. If you separate from your employer you either have to roll that money into an IRA (including all funds you borrowed) or you pay the 10% penalty and taxes on it. Even when you retire, you still have to pay income taxes on any amount you withdraw .We closed our 401k in 2000 and paid the tax and penalty only because my husband left that employer and the new employer didn’t offer a 401k. We had borrowed against that 401k(cancer medical bills) and since we didn’t have the funds to replace that borrowed money if we rolled, we just said forget it. I never did like big brother telling me when and if I could have my own money! Glad we did that!