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Started By
Message
re: Do you ever worry that your retirement or savings will be taken away?
Posted on 6/21/18 at 2:34 pm to TheHarahanian
Posted on 6/21/18 at 2:34 pm to TheHarahanian
quote:
If there were ever a serious threat of this happening, watch the price of gold go over 100k/oz overnight
Dollars would be worthless, so pricing things in dollars would be worthless too.
Any hard asset would become invaluable with respect to cash, but if shite hits the fan, I've got no use for gold.
0
Posted on 6/21/18 at 2:35 pm to slackster
It's obviously not a cash balance pension.
A company can always unilaterally change the interest rate or vesting schedule on which a pension calculation is based, or eliminate the plan entirely.
At least with a cash balance plan, the employee can roll over a lump sum to a rollover IRA and invest it elsewhere.
A company can always unilaterally change the interest rate or vesting schedule on which a pension calculation is based, or eliminate the plan entirely.
At least with a cash balance plan, the employee can roll over a lump sum to a rollover IRA and invest it elsewhere.
Posted on 6/21/18 at 2:36 pm to The Torch
this just happened to my brother he's 61 was married to this stupid bitch for 17yrs . He was a superintendent for years and ran jobs in the plants. She worked made about $9 an hour . She had a kid which my brother raised and was a good dad to him( they are still close) anyway this whore leaves my brother for another man. My brother had everything paid for and had 300k in his 401k. The judge made him give her half 150k ...
Posted on 6/21/18 at 2:38 pm to BowDownToLSU
(no message)
This post was edited on 2/11/25 at 8:02 am
Posted on 6/21/18 at 2:41 pm to TDFreak
quote:
NOT SO Subtle “I’ve got lots of money” brag
FIFY
This post was edited on 6/21/18 at 2:53 pm
Posted on 6/21/18 at 2:43 pm to GoIrish02
quote:
The date for the trust fund to go bankrupt hasn't been pushed back at any point in the last 20 years, in fact it's only been revised to be earlier. I believe it's 2024 now, and there's always been a bold statement on your SSI statement "only 76% of benefits will be payable after 2024".
It's 2034.
Posted on 6/21/18 at 2:45 pm to GoIrish02
quote:
It's obviously not a cash balance pension. A company can always unilaterally change the interest rate or vesting schedule on which a pension calculation is based, or eliminate the plan entirely. At least with a cash balance plan, the employee can roll over a lump sum to a rollover IRA and invest it elsewhere.
I understand all of that, but I'm asking for more information on the plan. It's possible the poster and his wife simply misunderstood the terms of the pension in the first place.
Posted on 6/21/18 at 2:45 pm to PortHudsonPlaya
No, that’s never once crossed my mind
Posted on 6/21/18 at 2:46 pm to TheCaterpillar
The Fed has been printing money since 2008, the Treasury is losing reliable buyers every day, so the only option will be more printing.
We won't quite be Argentina, but rates and inflation will be dramatically higher in the next ~5 years and only increasing. The easiest option to deal with ballooning national debt is hyper inflation fueled by the Fed.
We won't quite be Argentina, but rates and inflation will be dramatically higher in the next ~5 years and only increasing. The easiest option to deal with ballooning national debt is hyper inflation fueled by the Fed.
This post was edited on 6/21/18 at 2:49 pm
Posted on 6/21/18 at 2:48 pm to PortHudsonPlaya
In the sense of losing it due to a catastrophe. My father in law had millions in his 401K prior to 9/11 and filed bankruptcy before he died.
Posted on 6/21/18 at 2:48 pm to slackster
Thanks.
2034 is the same year the last baby boomers (born 1964) will have to begin taxable required minimum distribution from traditional IRA and 401k accounts.
2034 is the same year the last baby boomers (born 1964) will have to begin taxable required minimum distribution from traditional IRA and 401k accounts.
Posted on 6/21/18 at 2:49 pm to PortHudsonPlaya
Doesn't seem like a realistic concern. I'm more worried about the stock market completely crashing at an inopportune time.
Posted on 6/21/18 at 2:52 pm to crazycubes
I work for a fortune 500 company, and I always have that slight fear that we will get Enron'd.
Posted on 6/21/18 at 2:54 pm to GoIrish02
quote:
2034 is the same year the last baby boomers (born 1964) will have to begin taxable required minimum distribution from traditional IRA and 401k accounts.
2035. Can’t forget the half year bruh
Posted on 6/21/18 at 2:56 pm to slackster
quote:
I understand all of that, but I'm asking for more information on the plan. It's possible the poster and his wife simply misunderstood the terms of the pension in the first place.
Or instead of a monetary payout they’ve converted part of it to the insurance payout
Posted on 6/21/18 at 2:58 pm to PortHudsonPlaya
Get a real job and save it yourself.
Posted on 6/21/18 at 2:58 pm to TheDeathValley
quote:
I work for a fortune 500 company, and I always have that slight fear that we will get Enron'd
Never understood people investing in the own company stock in their retirement plans. Such an unnecessary risk.
Posted on 6/21/18 at 2:59 pm to slackster
quote:
Never understood people investing in the own company stock in their retirement plans. Such an unnecessary risk.
Nothing wrong with it if you’re getting it at a market discount and you keep it to a small %
Most people don’t keep it to a small % is the problem
Posted on 6/21/18 at 2:59 pm to Thib-a-doe Tiger
quote:
Or instead of a monetary payout they’ve converted part of it to the insurance payout
Yeah there is likely some change that the post isn't telling us. Sounds like his wife was forced out, so it probably has to do with the "early" retirement she's taking.
Posted on 6/21/18 at 3:00 pm to PortHudsonPlaya
If that ever happened, you would see the use of the 2nd amendment increase..
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