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sabra (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:39 AM Original message |
McCain makes new 401k proposal |
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MidwestTransplant (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:41 AM Response to Original message |
1. I can't wait until Obama hits him on privatizing SS. Now is about the time. |
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wordpix (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 08:37 PM Response to Reply #1 |
46. yes, Obama should remind the nation this was the repuke plan McShame supported |
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54anickel (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:41 AM Response to Original message |
2. He's not serious, is he? |
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radfringe (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:52 AM Response to Reply #2 |
10. grabbing at any straw he can to keep from falling... wait until tomorrow |
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Virginia Dare (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:24 PM Response to Reply #10 |
24. Big Rock Candy Mountain |
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BlueIdaho (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 04:18 PM Response to Reply #24 |
30. My favorite song! Thanks! nm. |
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dkf (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:41 AM Response to Original message |
3. I hardly think that selling stock to fund a distribution is the biggest thing a 70 yo is thinking |
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jbloom (1 posts) Send PM | Profile | Ignore | Sun Oct-12-08 09:20 AM Response to Reply #3 |
61. STOCK SELLING TO FUND A DISTRIBUTION |
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liberal N proud (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:41 AM Response to Original message |
4. Huh? |
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stray cat (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:43 AM Response to Original message |
5. John - people need the money for retirement - it can't sit for another 10 years to recover |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 09:48 PM Response to Reply #5 |
35. Or a few extra houses sitting around they can sell. |
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MindMatter (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:44 AM Response to Original message |
6. Uuuuh, John. We don't have to wait until age 70 to see our 201Ks dissolve |
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Warren Stupidity (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:49 AM Response to Reply #6 |
9. Mine is now a 104. |
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Warren Stupidity (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:48 AM Response to Original message |
7. WTF? |
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Kadie (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:55 AM Response to Reply #7 |
12. Maybe his plan is for people to keep working until the are 90. |
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54anickel (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:03 PM Response to Reply #12 |
14. A lot are going to read his comment that way. Lots of retirees I know are already working part-time |
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Virginia Dare (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:23 PM Response to Reply #7 |
22. I agree, it's a ridiculous proposal.. |
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Demit (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:49 AM Response to Original message |
8. I don't think it's investors he's wanting to protect. He wants that money to stay in the market. |
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ColonelTom (415 posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:53 AM Response to Reply #8 |
11. Bingo. He wants seniors to bail out the market... |
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Princess Turandot (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:10 PM Response to Reply #11 |
18. I'm not sure what he thinks this will accomplish.. |
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Virginia Dare (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:21 PM Response to Reply #8 |
21. It's insane for a 70 year old to have his or her retirement savings.. |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 04:09 PM Response to Reply #21 |
29. Hmm,,, |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:53 AM Response to Reply #29 |
38. we have some very unknowledgeable "investors" on du, ms toad |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 12:25 PM Response to Reply #38 |
43. The reason for the negative reaction is probably two-fold |
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Lionel Mandrake (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:26 PM Response to Reply #43 |
47. I agree. |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:36 PM Response to Reply #47 |
48. No disagreement there. |
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high density (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 11:56 AM Response to Original message |
13. What??? |
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Swede Atlanta (906 posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:04 PM Response to Original message |
15. This is a sensible proposal |
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Texas Mom (45 posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:24 PM Response to Reply #15 |
25. You think this is sensible? |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:55 AM Response to Reply #25 |
39. only if you are naive enough to think someone is wealthy because they have a retirement plan |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:43 PM Response to Reply #15 |
26. Thanks for the voice of reason. |
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slackmaster (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:07 PM Response to Original message |
16. John McCain - Point man for the New Old |
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panAmerican (864 posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:08 PM Response to Original message |
17. I think a better proposal is to suspend the mandatory withdrawal penalty. |
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soupkitchen (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:13 PM Response to Original message |
19. I was thinking this morning, why not make the first $20,000 withdrawal tax free? |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:49 PM Response to Reply #19 |
28. A lot of it is tax free already, actually |
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Virginia Dare (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:19 PM Response to Original message |
20. I have a better idea McToast.. |
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antigop (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 09:52 PM Response to Reply #20 |
36. DING!DING!DING! WE HAVE A WINNER! I agree 100% n/t |
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Zynx (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:24 PM Response to Original message |
23. I have a better idea: get rid of 401ks and bring back pensions. |
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meow2u3 (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 12:45 PM Response to Reply #23 |
27. Damn straight |
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BlueIdaho (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 04:23 PM Response to Original message |
31. How many folks do you suppose this will impact in the next two years? |
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Vinca (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 04:35 PM Response to Original message |
32. John should read a newspaper. The IRAs and 401ks disappeared this week. nt |
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KamaAina (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 04:55 PM Response to Original message |
33. "his second major economic proposal of the week"? What was the first? |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:58 AM Response to Reply #33 |
41. possibly he stole this one from the same source |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 09:46 PM Response to Original message |
34. I am sorry but not everyone will live to be 70. Where the hell does he come up with that #? |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 10:57 AM Response to Reply #34 |
40. if you won't live to be 70 you don't have to be concerned about it |
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SharonAnn (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 08:34 PM Response to Reply #40 |
45. My husband is still working, over 70 and would certainly like to wait to take distributions. |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:25 AM Response to Reply #45 |
57. In your 401K I think he only has to withdraw a certain % a year, and all he has to do.... |
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InkAddict (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 09:04 AM Response to Reply #40 |
60. At the age of 62, I see no way to recoup the losses we've experienced |
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antigop (1000+ posts) Send PM | Profile | Ignore | Fri Oct-10-08 10:05 PM Response to Original message |
37. Here is a 401(k) proposal we need... |
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pitohui (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 11:04 AM Response to Reply #37 |
42. erm, you can do this already |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 12:37 PM Response to Reply #42 |
44. Actually, it depends on the plan |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 11:27 PM Response to Reply #44 |
50. Yes, the investment choices depend upon the plan that the company chooses. |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 11:31 PM Response to Reply #44 |
52. I share your concerns with the "guaranteed" income funds. n/t |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 04:35 AM Response to Reply #52 |
53. I'm not actually that concerned - |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 09:04 AM Response to Reply #53 |
59. "I don't think a fund that isn't really guaranteed should be allowed to call itself guaranteed" |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 11:16 AM Response to Reply #59 |
63. There is - |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 01:39 PM Response to Reply #63 |
66. I agree. And right now I want something like a CD with a guaranteed return for some of my money. |
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Ms. Toad (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 02:50 PM Response to Reply #66 |
68. At least you have a 401(k) |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 11:26 PM Response to Reply #42 |
49. Nope. We don't have a money market or CD choice |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:22 AM Response to Reply #49 |
56. Most 401ks don't offer CDs because they're run by investment firms, not banks. |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 09:01 AM Response to Reply #56 |
58. Take a look at WHO those investment firms are that are managing your 401(k) funds |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 12:19 PM Response to Reply #58 |
64. It's obvious who it is. To access it online, you go to that firm's website. It could |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 01:59 PM Response to Reply #64 |
67. It's not always obvious. Sometimes you may have to dig through the actual plan documents. n/t |
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antigop (1000+ posts) Send PM | Profile | Ignore | Sat Oct-11-08 11:30 PM Response to Reply #42 |
51. The other problem is the fees that are charged in some plans. |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:19 AM Response to Reply #42 |
55. No, if your co. offers a 401k, empee can't open a deductible IRA, but... |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 08:16 AM Response to Original message |
54. That won't help anyone but fat cats. If someone doesn't need his 401k by age 70, then he doesn't |
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FreeStateDemocrat (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 11:10 AM Response to Reply #54 |
62. Right, McSame wants to make it a tax-shelter for the rich. |
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Honeycombe8 (1000+ posts) Send PM | Profile | Ignore | Sun Oct-12-08 12:20 PM Response to Reply #62 |
65. I think that's correct. nt |
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