401(k)s In Danger of Confiscation

Words 2 live by: “Don’t trust the gov’t.”

I follow these words; I cashed out all my 401(k)s ‘cuz I figured if the stock market doesn’t kill them the gov’t will.
401k In Danger of Confiscation
Sounds ominous. (Click the pic for full story.)

We face an economic crisis of unacknowledged depth. It will be worse than 1929. Do you really think that the gov’t is going to let you keep your retirement–whether it’s in a 401(k), IRA or Social Security? Do you really believe they won’t figure out a way to “borrow” it or tax it?

Please protect yourself!

Advertisements

4 Responses

  1. Yesterday the Ratings companies downgraded U.S. paper from AAA to AA. Wonder what the market will do tomorrow?

  2. When is this proposal going to take place? We have money invested in both and if the government has an idea that they will “confiscate” our hard, HARD, earned money that we were saving, I will withdraw it and take the penalties. But when is this going to happen?

  3. Has there been any more movement on this issue?

  4. […] life insurance policy “investments” to a safe haven? Have you cashed in your 401K/IRA before it’s taken? If not, have you at least changed your allocations to something safer than the markets? Got gold […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: