Re: Way OT: investments in 401K

Posted by Mysterion on August 02, 2004 at 07:06:12 from (69.179.21.81):

In Reply to: Re: Way OT: investments in 401K posted by Kurt (mi) on August 01, 2004 at 09:42:42:

While your "example" is way off, the world is full of people who would love to earn $33/hr. $66K/yr aint" bad for a part-time job.

BTW, I hope you talk to an attorney about 401Ks. They are basically a fraud. The reason is that the Supremes ruled years ago that ALL the money in 401Ks (generally) belongs to the COMPANY (yes, even your contribution).

There are now millions of people who retired thinking they were going going to spend the rest of their lives in semi-luxury many of whom now hand out shopping carts at Wally-World. How did this happen? Very simple. The company just uses the funds for their own purpose and then tells you to eat dirt when you come looking for it. Does the name Enron ring a bell? There are lots of other examples from Mom & Pops to Fortune 100 types and a good attorney should be up to date on this. Note that I"m not giving you legal advice here as there are differences in how 401Ks are set-up. But I will say this. Anybody who is foolish enough to depend on a 401K, social security, or Medicare/Medicaid for retirement is likley to be very disappointed.

TheRealRon

Follow Ups:

• Huh? Jim WI 11:04:35 08/03/04 (0)
• Re: Way OT: investments in 401K Kurt again 08:24:51 08/02/04 (0)
• Re: Way OT: investments in 401K Kurt (mi) 08:18:21 08/02/04 (1)
  • Re: Way OT: investments in 401K dhermesc 11:23:58 08/02/04 (0)
• Re: Way OT: investments in 401K dhermesc 07:51:13 08/02/04 (0)

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