Congress eyes 401K's...yet again..this makes one too many times

[grmasterb]

Originally Posted by HappyTexan

I posted the article as this is not the first time government oversight of 401K's has been mentioned.

The federal government already regulates 401Ks. Ever heard of ERISA? From where do you think the term 401K comes?

[shaker281]

To the comment that this is a finance/economics forum and not a "political" one, I notice you failed to jump on all the comments that are clearly right-wing and political. I would prefer the over-the-top, political conspiracy BS was eliminated altogether, from both sides. But once it starts, and that clearly was from the right wing ( see post #3), then the other side is free to chime in.

I am neither a Republican, nor a Democrat. Neither one is representing me, nor do I require a political platform to form my opinions. That being said, all the sky is falling BS, undermines any rational dialogue and mutes the message.

Yeah right, The "Democrats" want to steal your hard-earned retirement funds and the only thing standing in their way is the Republican party! So, vote for them. This message is conveniently played out prior to mid-term elections.

Of course the A-holes who run the country (All of them, both parties) would look at any opportunity to find relief for their previous mistakes. And if that means skimming from 401Ks, I am sure they would consider it! Let's not forget here which party was in charge while 80% of our National debt was being rung up. Oh, yeah, it was the "fiscally conservative" Republicans.

Thank goodness they are going to step in right before mid-term elections and offer to protect us!

[zz4guy]

401k is a joke anyway. How do you make any money in it? I've netted about $15k in the last 5 years at a 10% match. Last year I cut back my 401k contributions to a minimum match and have started buying rental properties. I enjoy fixing properties up and being a landlord and know what it takes to do it. 401k is black magic if you ask me. Not to mention an easy target for greedy Democrat politicians. Real estate is the way to go if you have the ability and desire to do so.

[shaker281]

Originally Posted by zz4guy

401k is a joke anyway. How do you make any money in it? I've netted about $15k in the last 5 years at a 10% match. Last year I cut back my 401k contributions to a minimum match and have started buying rental properties. I enjoy fixing properties up and being a landlord and know what it takes to do it. 401k is black magic if you ask me. Not to mention an easy target for greedy Democrat politicians. Real estate is the way to go if you have the ability and desire to do so.

Honestly, the last 10 years have been a very difficult situation with equities, so I can understand your frustration.

But, consider this: If you invest the minimum it takes to get your company match (.10 on the dollar in your case?) you are still getting a 10% returm with the advantage of tax deferral. And if you invest in a fixed income investment at 2% you can add that to your overall return. Twelve percent return with no risk and tax deferral ain't nothing to sneeze at.

After 30 years you will have a nice nest egg, but you won't get rich quick, if that is what you mean. I know some folks who own and manage rental property too. Nothing wrong with having many irons in the fire.

I will add this, if the Republican party scares their own constituency away from 401Ks as a political expedience, they will have screwed them royally. Much in the same way their "socialist" sky is falling rhetoric caused many of their followers to miss out on the huge rally that occurred between March 2009 & March 2010!