Comments on: Say bye bye to your 401(k)?

By: Barbara

Barbara — Wed, 26 Nov 2008 15:00:46 +0000

What is sad is my husband has made no money on his 401k plan this year. Everything he has put in has been lost because of the investment plan chosen by the 401k company. Sure my husband has the choice of low moderate or high risk but to loose everything put in for a year because of moves made by the politicians is just wrong. My husband invests our money wisley. Looks for the best return on CD’s puts money into an IRA account and puts the max allowed into his 401k and now loosing what we have. If people would go shopping and spend a little money this would not be as bad as it is. (media hype is screwing us all) But to know there is a plan sitting on the table waiting for some Moron in congress to vote on that will hurt the working man more than he has already been hurt is just SAD. Don’t touch my husbands hard earned money… don’t take away our Social Security and for god sakes don’t pass another bill that will be compleatly messed up by the time my husband decides to retire and has nothing to show for it. Keep the money grubbing feinds away.

By: Tracy Coenen

Tracy Coenen — Tue, 25 Nov 2008 16:43:27 +0000

Yes Chad, but you said the magic words “smart well-planned.”

As it stands, people have to be responsible for themselves and save and plan. If the government promises to take care of them, they have no worries!

Unfortunately, those of us who normally plan and save will be hurt by this.

By: Chad Bordeaux

Chad Bordeaux — Tue, 25 Nov 2008 16:06:25 +0000

This is just sad. I wonder if the politicians supporting this crap are truly socialist or if they are just plain dumb to the core. It is all about one thing – POWER. The more they control, the more power they have.

As you said, basic math debunks their falsehoods. Why do I want to get a 4% or 5% return on my money? Regardless of the current downturn, smart well-planned long-term investments can easily double this.

Why do the financially responsible once again have to suffer because of the financially incompetent?

If they must, force people to invest for their retirement, but don’t force the people who are already planning for it suffer with less than desirable returns.