Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
“A lot of baby boomers still are still working at 70-and-a-half. You’re going to pay your regular tax on your income and then you’re going to pay a fortune on the money that’s had to come out of your 401(k) And your IRA. Varney said if Trump raises the age to between 72 and 75, older retirees will be able to save more money and it will send out a ripple effect to the 55 million Americans with 401(k)’s and the 30 million people who have an IRA.
At the moment 401(k)’s are pretty much restricted to major corporations, big companies. The President wants to extend that to groups of small companies. Another very good move,” Varney said. “Extending pension planning and pension money to a larger group of people.”
“A lot of baby boomers still are still working at 70-and-a-half. You’re going to pay your regular tax on your income and then you’re going to pay a fortune on the money that’s had to come out of your 401(k) And your IRA. Varney said if Trump raises the age to between 72 and 75, older retirees will be able to save more money and it will send out a ripple effect to the 55 million Americans with 401(k)’s and the 30 million people who have an IRA.
At the moment 401(k)’s are pretty much restricted to major corporations, big companies. The President wants to extend that to groups of small companies. Another very good move,” Varney said. “Extending pension planning and pension money to a larger group of people.”
Seems to me it gets more people to put their money where another Bernie Madoff style heist will be made easy. Or whoever is in the works for the next big theft from Americans.
The executive order doesn't make any change. It's to "look at changing" the rules.
Really doesn't make a difference. If you haven't saved enough by then, you're not going to. If you're still working and have a big 401k, you're doing so because you like working.
Last edited by LordSquidworth; 09-01-2018 at 03:41 PM..
"The order, which the president signed at an event in Charlotte, N.C., calls on the Treasury Department to review its rules for mandatory withdrawals from 401(k) plans...
..The executive order also calls on the Labor Department to consider allowing small businesses to jointly offer 401(k) plans.
Obviously, if you don't have a 401k you don't have to worry about paying higher taxes when you withdraw the money.
What I think is more interesting is the idea whereby small businesses can get together like large corporations do to offer 401k plans so they could attract better employees. These companies will be more competitive.
I laugh at the Loonies who object to good things Trump does. It's called 'cutting off your nose to spite your face.'
Here is Trump speaking about this at the signing event in NC, thanking people who support this plan.
He mentioned he was asked to read out the list of Trump administration accomplishments but they didn't have enough time -- it's five pages long, single spaced.
Seems to me it gets more people to put their money where another Bernie Madoff style heist will be made easy. Or whoever is in the works for the next big theft from Americans.
401k plans have proven safe and successful for most employees. These will be portable plans people can take when they change jobs even though they work for a small company.
Sec. of Labor Acosta gave some details. Small Business administration chief Linda McMahon spoke about why this executive order is so important. She praised the Trump administration for eliminating regulations which strangled small businesses.
401k plans have proven safe and successful for most employees. These will be portable plans people can take when they change jobs even though they work for a small company.
Sec. of Labor Acosta gave some details. Small Business administration chief Linda McMahon spoke about why this executive order is so important. She praised the Trump administration for eliminating regulations which strangled small businesses.
Speaking of SBA , I look at small businesses for sale and have noticed recently a lot more say SBA loans are available on them . Before it was rare .
Definitely seems a lot more since Trump became President
Here is Trump speaking about this at the signing event in NC, thanking people who support this plan.
He mentioned he was asked to read out the list of Trump administration accomplishments but they didn't have enough time -- it's five pages long, single spaced.
Who the hell asked him to do that and yeah right Trump would nt be able to read 5 pages out loud about himSELF .
This is more fake news courtesy of Mr Trump.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
