Archive for the '401k' Category

Nov 14 2008

Confiscating Your Retirement

Today’s Wall Street Journal has an interesting editorial about Washington’s potential plan for your 401(k) assets.

   

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Oct 09 2008

Confirming What I’ve Warned About for Years

A wide range of sweeping changes to the 401(k) system were proposed Tuesday at a hearing on how the market crisis has devastated retirement savings plans.

Chief among them was eliminating $80 billion in tax savings for higher-income people enrolled in 401(k) retirement savings plans.

This was suggested by the chairman of the House Committee on Education and Labor. 

“With respect to the 401(k), it appears to be a plan that is not really well-devised for the changes in the market,” Rep. George Miller, D-Calif., said.

“We’ve invested $80 billion into subsidizing this activity,” he said, referring to tax breaks allowed for 401(k) contributions and savings.

With savings rates going down, “what do we have to start to think about in Congress of whether or not we want to continue and invest that $80 billion for a policy that is not generating what we … say it should?” Mr. Miller said.

~ InvestmentNews

(Thanks to M.H. for the article)

Update:  Here is more info on this from U.S. News & World Report.   

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Sep 29 2008

Buying Opportunity

 

Video courtesy of KETV News.

This is a good recap video of the issues I feel that are most important to everyday investors today and on into the future.
     

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