Folks with traditional IRAs need to start looking at “Freedom IRA”s in order to take a more active hand in their own retirement money.
If you leave it where it is, they WILL steal it through inflation or outright appropriate it.
Mission accomplished. Their goal was to tap 401K's just not directly, but to get the only people with access to them, to do it for them.
Just wait until the Gov’t decides to raid it
Or people are taking the money/penalty before Zer0 and the Gets come after the money.
I have contemplated doing this as I don’t think this money will exist when I’m ready to retire in about 20 years anyway.
Even though the market has exploded, I still have a good portion of my 401k money in “safer” things like “Stable Income” and Bonds. I’ve got about 25% in the market, but I’m more interested in keeping my money.
Better to cash it out now and pay down bills, or buy gold or bullets, than to have Fedzilla steal it to pay their bills.
The war on the Kulaks marches on.
Only this time I don’t think they’re going to fool around with the cattle car ride to Siberia. Trains put out far more carbon dioxide than a 9mm.
“If that retirement account is calling your name, a financial expert advises you to stop listening.”
Yeah, don’t bother to pay those bills at all, I’m sure the judge will rule in your favor when you get sued by your creditors while sitting on a bunch of money in an IRA. /sarc