Mac1958
Diamond Member
- Thread starter
- #41
Where are you getting this "your 401K is someone else's piggy bank" and "market goes up 40%, your 401K goes up 20%" stuff, exactly?Great for you. Keep believing that. The chances of you retiring comfortably on your 401k is about nil. They know exactly how old you are.Your 401k? HA!!! Money this country puts into 401k's ends up in some rich guy's pocket.There isn't enough money up there to pay for everything he wants government to do. The middle/upper middle class will have to be taxed as well.
The typical progressive mantra of "let other people pay for it" continues. What can't continue is the idea that the money will never run out.
We have a huge economy, but I am not sure what the figure is today. The problem is that the flow of money is not distributed fairly. In other words, the average worker is vastly underpaid since about 1980, while the upper corporate management has taken sky rocketing profits.
If only a small tax were placed on Wall Street transactions for example, government revenue would gain billions.
Here is Bernie's plan. Issues - Bernie Sanders
it always starts out with "only a small tax".
Those new taxes will take a bite out of my 401k, and everyone else's just as much as it will punish the rich (which is obviously your overall goal).
Bernie is a pie in the sky socialist in a friendly old man wolf suit.
Market goes up 40%, your 401k goes up 20%. "You were invested conservatively to protect against a downturn." Market goes down 15%, your 401k loses 30%. "You were aggressively positioned and the market went down." Odd. Same fund. Your 401k is someone else's piggy bank.
$226k in mine at age 40. As long as I spend a few hours once a quarter to manage the fund balance I am doing just hunky dorey.
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