Stocks and euro plunge on Greek default

[mawilson 2,133]

Or you believe paying into a mandatory retirement scheme your whole life should yield you something.

401(k) and IRAs are not mandatory programs. Participation is entirely voluntary and the money belongs to you, not the government or organization you work for.

[mawilson 2,133]

But it'll be a negative net yield by the time it's all said and done.

That's up to you, isn't it? You're in control of your 401(k) and IRA plans -

it's your money and you can invest it in whatever you want, including nothing.

[웃 910]

Or you believe paying into a mandatory retirement scheme your whole life should yield you something.

It will.

[scandal 951]

That's up to you, isn't it? You're in control of your 401(k) and IRA plans -

it's your money and you can invest it in whatever you want, including nothing.

Most 401(k)s give you a menu of possible investments and you have to choose something off that menu, even if it's just a Sweep Money Market fund. Which is pretty close to 'nothing' but not always so. Recall that in 2008 at the height of the post-Lehman collapse much ado was made over the 'breaking the buck' by Reserve Primary Fund. So, in theory at least, even a passive do-nothing 401(k) could stay flat or even go negative.

In reality however you're absolutely right. Especially for those who have a corporate matching program on their contributions you'd be daft not to put everything you can into your 401(k). It's one of the few vehicles the IRS gives the little guy which acts like the shelters and loopholes the big guys get.

[Captain Oates 911]

They should put all their money into the West Bank.

I didn't know Adam West had a bank

Edited October 4, 2011 by Austin Devon

[mawilson 2,133]

Most 401(k)s give you a menu of possible investments and you have to choose something off that menu, even if it's just a Sweep Money Market fund. Which is pretty close to 'nothing' but not always so. Recall that in 2008 at the height of the post-Lehman collapse much ado was made over the 'breaking the buck' by Reserve Primary Fund. So, in theory at least, even a passive do-nothing 401(k) could stay flat or even go negative.

True, but when you quit your job (or get fired) you can roll it over into an IRA which gives you real freedom to invest in almost anything.

[I AM NOT THAT GUY 5,715]

True, but when you quit your job (or get fired) you can roll it over into an IRA which gives you real freedom to invest in almost anything.

Or, a house, or even a business, with some tax consequences for both, but seems to be a common path to living the American Dream.

[Captain Oates 911]

Or, a house, or even a business, with some tax consequences for both, but seems to be a common path to living the American Dream.

Quote:- if you want to achieve the American dream - move to Sweden

[Bad_Daddy 2,209]

Why not spend your own money during your lifetime?

crack h0's ftw!

[mawilson 2,133]

Quote:- if you want to achieve the American dream - move to Sweden

If you have no ambition whatsoever and just want to work a 9-to-5 job, Sweden is the place for you.

(Not "you" specifically, Alan.)

Edited October 4, 2011 by mawilson

[Bad_Daddy 2,209]

Peeps back east like in Jersey and Long Island,NY have it down to a fine art. They work god only knows how many hours a week for most their lives pinching pennies every chance they get, and then they pull up the stakes and head for a gated community in Florida doing the condo thing next to some man made alligator infested pond while playing golf with the people named Levi Cohen and Aaron Goldman.

Edited October 4, 2011 by Why_Me

[Captain Oates 911]

If you have no ambition whatsoever and just want to work a 9-to-5 job, Sweden is the place for you.

(Not "you" specifically, Alan.)

Most people see a job and a house and a nice car and guaranteed free health care for life and college fees for all 12 kids as a Dream.

Most Americans will never ever achieve that

Swedes and Finns etc take it for granted

If someone wants to be the 20 people in 300 million who becomes a film star - its the USA for them

I play the odds and I would never have exposed me and my family to this unregulated meat chopper which is financial security and society in general in the USA. I made my pile in Europe so its possible for me to take the best and dodge the rest -- so the USA is great for me

I don't think Americans have any idea what living and working is like in Europe and they sneer at 6 weeks vacation (min) and security of employment and free health care for life with no deductible or co-pay as though the Europeans are lazy and that is somehow a bad thing. Americans have been taught this by the right wing owners of society. They don't like the word 'brainwashing' but I struggle for a satisfactory alternative word.

Surely all those things are desirable and why do Americans feel better about working like dogs and getting precious little in return and dying earlier - I don't get it.

[Bad_Daddy 2,209]

Most people see a job and a house and a nice car and guaranteed free health care for life and college fees for all 12 kids as a Dream.

Most Americans will never ever achieve that

Swedes and Finns etc take it for granted

If someone wants to be the 20 people in 300 million who becomes a film star - its the USA for them

I play the odds and I would never have exposed me and my family to this unregulated meat chopper which is financial security and society in general in the USA. I made my pile in Europe so its possible for me to take the best and dodge the rest -- so the USA is great for me

I don't think Americans have any idea what living and working is like in Europe and they sneer at 6 weeks vacation (min) and security of employment and free health care for life with no deductible or co-pay as though the Europeans are lazy and that is somehow a bad thing. Americans have been taught this by the right wing owners of society. They don't like the word 'brainwashing' but I struggle for a satisfactory alternative word.

Surely all those things are desirable and why do Americans feel better about working like dogs and getting precious little in return and dying earlier - I don't get it.

Are you talking that sissy boy Euro commie talk again? You keep this up and I'm not sending you a Dale Earnhardt autographed baseball cap for xmas this year.

[mawilson 2,133]

If someone wants to be the 20 people in 300 million who becomes a film star - its the USA for them

You don't have to be one of the 20 people in 300 million - just being in the top 1% is better in the USA than Europe.

[Captain Oates 911]

Are you talking that sissy boy Euro commie talk again? You keep this up and I'm not sending you a Dale Earnhardt autographed baseball cap for xmas this year.

You excuse me because I am a gun nut and I hate terrorists - that makes up for my social progressiveness