U.S.Workers and retirement?

[beamie]

The only ones really making any money with 401k's and defined contribution plans are the scheysters on Wall Str. Just wait until you start taking money out. Hinden fee here hinden fee there. Oh you think you have been making an average of 8% a year......well after all the fees you never seen comin you may be at 4%. Granted it is better than 0.5% at your local bank. But still, you are getting bent over.

[justplugit]

Originally Posted by beamie

Just wait until you start taking money out. Hinden fee here hinden fee there.

Yes, and after 70 and 1/2, when you are required to start withdrawing, the percent required increases every year for withdrawal. If any of the withdrawal is reinvested, it is then subject to regular income tax . Still the best plan out there, especially if you get employee matches.

[FishermanTim]

Originally Posted by justplugit

Yes, and after 70 and 1/2, when you are required to start withdrawing, the percent required increases every year for withdrawal. If any of the withdrawal is reinvested, it is then subject to regular income tax . Still the best plan out there, especially if you get employee matches.

All in all, I would rather have to complain about MY money than complain about not having any money.

Or.... I'd rather have to deal with my retirement funds instead of having to work when I should be retired.

How many think that Social Security will be their "retuirement funds", or will be there at all when they retire???

My main concern now is wether we will be on the gold standard by the time I retire, or if we will still be the "United States" of America.

Too many variables to give any kind of answer right now.

[Nebe]

Originally Posted by FishermanTim

All in all, I would rather have to complain about MY money than complain about not having any money.

Or.... I'd rather have to deal with my retirement funds instead of having to work when I should be retired.

How many think that Social Security will be their "retuirement funds", or will be there at all when they retire???

My main concern now is wether we will be on the gold standard by the time I retire, or if we will still be the "United States" of America.

Too many variables to give any kind of answer right now.

Check the price of gold today vs yesterday.
Posted from my iPhone/Mobile device

[bassballer]

I get the concerns. But we have made the sacrafices now for our future. Financial advisor, and maxing out both our 401K's. we have a slush fund that never gets touched. Whats left over goes to play time. Work hard, play hard.

[piemma]

Originally Posted by beamie

The only ones really making any money with 401k's and defined contribution plans are the scheysters on Wall Str. Just wait until you start taking money out. Hinden fee here hinden fee there. Oh you think you have been making an average of 8% a year......well after all the fees you never seen comin you may be at 4%. Granted it is better than 0.5% at your local bank. But still, you are getting bent over.

I have SEP/IRA which I manage and I have some corporate bonds that pay 4% every year. Granted I bought them a few years ago but I just let the money sit and it gets compounded.
No fees as I manage my money.