Comment: State Law and Contracts

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State Law and Contracts

Unemployment is a state program, and rules vary by state, I believe.

I "volunteered" to be laid off, in part, so I could convert my 401k to a self-directed IRA (precious metals).

401k rules are set by the employer to a large degree, and they vary, also.

Participation in 401k's is entirely voluntary. You signed the contract to participate according to their rules when you signed up for the account. Either the advantages are worth it, or they aren't.

Since my employer matched my contributions, it was worth it to me up until it became clear to me that soon, even the 100% match would not be enough to overcome the loss through inflation, and that metals were a better bet. I rolled it over, paid the income tax, and now my metals can appreciate 10-fold without any tax on them.

That's not my only nest egg, however.

What do you think?