12 votes

Your wealth to be seized!

I post this because 3 or 4 years ago there was someone on here asking about starting a 401 k. I not only said NO but HELL NO! That guy who went by the name of jzneff, who was the DP version of Steve LIESman on cnbc talked that person into starting it. GET OUT OF YOUR 401 K NOW! Pay the penalty. If you can't touch it you don't own it.

Polish Pension Bail-In is a Preview: Your Wealth Will be Seized!

September 13, 2013 | By The Doc | Silver Doctors

Andy Hoffman and Jeff Nielson join the SGTReport for an in-depth precious metals and monetary Ponzi update. At the front of mind is the Polish government’s announcement that it has seized 50% of privately-owned pension funds from its citizens to shore up government fiscal shortfalls. It’s a BAIL-IN, though the mockingbird media has refused to cover it. It’s Cyprus Part Deux.

It’s the new trend worldwide, and Andy and Jeff warn you, it’s coming here next.

http://www.silverdoctors.com/polish-pension-bail-in-is-a-pre...




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Everyone needs to run their own financials; no blanket statement

For example, if you put in 6% and your employer adds another 4.5% on top of that and you are in the 33% tax bracket, if you with draw the money immediately and are fully vested, you'll get about .9 of every 1 you put in after taxes and penalties.

If you just took that dollar in income, you'd end up with about .6 after federal, state and local taxes, 33% less than if you HAD put the money into a 401K (in the example above) and withdrawn it immediately.

So, I dont think it's right to issue a blanket statement for everyone. Certainly the warnings may be blanket, but everyone should look at their own financial variables in order to make the right decision for them.

Lets say me and the government were walking down the street with

my pension, and the government said hey pension I know you have been friends with him for 30 years but we are going to kidnap you and you cant help your friend pay his bills anymore. I would buy multiple machine guns fully auto or at least learn how to make them auto and I would be mowing down the sons of bitches who stole my friend pension until I was dead. Wow that kind of talk could get you on a list but it is serious talk, I will never have a pension, but if I did and they took mine, people would die, not innocent people, but those who took my pension would definitely die. Work your ass of all of your life to have it stolen, fvck whoever takes it, draw their blood.

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

wow

Good lord, are you still talking about me?

...

Ron Paul says, if you can't put it in your pocket than you don't have it. I don't remember ever reading your posts in the past. I know investment advisers that make claims of nominal returns on 401k and mutual funds. In my opinion this is just the official casino and gains are covered by the loss of purchasing power. It is a clever scheme for the theft of real wealth.

All rights reserved and no rights waived.

true...but

If its in your pocket, you have it...but its also not earning you any interest or dividends.

To each his own though.

interest

Dividends can be lost. Stocks are no different than gambling! What happens when interest earned is less than inflation? As you said, to each his own!

yup

What can I say, I'm a gambler. I win a lot more than I lose though.

I guess you are wise enough to do it!

So far!

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My bets are against the US dollar.

All rights reserved and no rights waived.

...

We are talking nominal though. Meaning not a number signifying real value but a number that is just a number until you compare it to other things with real wealth.

Your entitled your own and what works for some doesn't always work for all.

My question is how has your real wealth grown? The new Movie will always set sales records nominally but never has any movie surpassed the attendance of the Movie Gone with the Wind. The reason why is because they are telling you the nominal amount of money spent/earned and not the the amount of people attending. Movies are $15 instead of a nickle.

All rights reserved and no rights waived.

$15???

Holy crap, $15 for a movie? Really?

I usually spend $2 at the cheap theatre.

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In joycamp, you get to watch movies for free.

All rights reserved and no rights waived.

by the way...

You couldn't be more wrong. I took a loan out of my 401k and bought a rental property, now I've already paid it back and now am generating income on a house I own free and clear, and its probably worth double what I paid for it.

Still sitting on a pile of silver? How's that working out for you?

Use your mind, and make your money work for you. :)

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You could of easily taken a loan against the silver and done the same but instead of being in debt paying interest, you would be collateralized and your own banker.

Homes are commodities that have yet to see a price correction. The land may be valuable but eventually even the property taxes will be enough to take your house.

Don't count your eggs while your still in the hen house. A life time of gains can and will be lost in an instant.

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sure

There aren't any sure things, but nothing ventured nothing gained.

Taxes aren't bad, the rent pays taxes and insurance by mid March, the rest of the year is pocketed. Actually, most of it goes into junk bonds. The world is dumping municipal bonds right now, when the whole world is selling I'm buying.

I'd be curious to hear

what ratings and yields you're finding attractive in municipal bonds right now. Thanks!

C+

To be quite honest, I am pretty busy these days and don't watch this stuff like a hawk, my buddy owns a brokerage firm and I let him handle it.

Thanks

Your tolerance for risk is several orders of magnitude greater than mine! :-)

no problem

I'm only 35, I can afford to throw the dice. Most people my age are living hand to mouth, and that's 100% guaranteed to ensure you'll be broke forever.

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The outcomes are always the same. It matters little if you know how to play the game or not. In a rigged game, you always lose. A real investor focuses on production.

All rights reserved and no rights waived.

...

Make sure you convert some of those dollars to real assets or commodities. If your going to believe in anything besides gold or silver than it should have something real. Seeds, Rice, Copper, etc.

The tax crunch isn't even here yet. The bonds market is big enough to destroy the currency. Remember wealth is not created or destroyed, just transferred. In order for you to make a buck, someone has to lose a buck.

At this moment, owning property is good.

All rights reserved and no rights waived.

Don't think that it can't happen here!

Here are a couple of articles about just this sort of thing happening.

http://georgewashington2.blogspot.com/2009/05/will-obama-sei...

http://www.bloomberg.com/news/2010-11-25/hungary-follows-arg...

And finally this. Did assassinated Federal Judge Roll rule against Obama?

http://www.eutimes.net/2011/01/top-us-federal-judge-assassin...

Unless

you have lost your job...you can not liquidate your 401K. Many found this out in 2007-2008...LOL...bet you never again heard them say..."its a free country!"

Wha? .....hey....who stole my country?

LIBERTY2ME's picture

xxx

xxx

Bugs in the machine's picture

I did

I recently decided to cash out my 401k, and found that even though I was vested, I could only cash out about half of it. I work for a large telecommunications company, and they apparently have policy that prevents me from taking all of it, even though I'm willing to pay the penalties.

Regardless, I took what I COULD get out of it, and turned it into PM while the gettin' is good.

By claiming there is no conspiracy, you prove to those who believe in the conspiracy that you are part of the conspiracy.

LIBERTY2ME's picture

I'm sorry, are you saying you

I'm sorry, are you saying you were 100% vested?
My company was purchased by another company. I they are asking us to fill out a form telling them what I want to roll it into. I am leaning towards taking penalty and taking my money to do else with, but when I ask I keep getting the answer that I can only take my money if there is a hardship of some kind.
this is not the case if I were to quit, so I believe that since the company was sold it is the same thing. I also verified this with a financial advisor (who of course does not want me to cash in my check but to invest in an IRA).
So were you 100% vested when you took your 401k out?

Bugs in the machine's picture

Yes, 100% vested

The rule for the 401k plan I'm on is that the company match contribution amounts (around half) are available for withdrawal only after age 55.

By claiming there is no conspiracy, you prove to those who believe in the conspiracy that you are part of the conspiracy.

...

Unless your close to age 55, I would hardly say this is an guarantee.

All rights reserved and no rights waived.

my 2 cents...

When I change jobs I roll my 401ks to accounts outside of company control. in other words.... my control. but I have to stay in the 401ks in order to get the company matches which goes without saying I know...

Smaulgld.com also covered this back in June

Google "mandatory retirement accounts" or click here:
http://smaulgld.com/mandatory-retirement-accounts/

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