Lots of people will be decorating lamp posts around America if they try to seize IRAs/401k, etc.
>> Lots of people will be decorating lamp posts around America if they try to seize IRAs/401k, etc.
I personally think academics look really cool hanging from lampposts. Every university town should have a few (dozen) decorated lampposts.
They’ll have to pry my investments from my cold, dead fingers.
The more likely path is to portray 401ks and IRAs as risky in their current format. They could be made far safer by requiring a small part (say 10%) the savings in a "safe" investments like government bonds. Then when that is "successful" the percentage will be bumped up to 25% and then 50%. Finally the only permitted investment will be lending it to the government. Will you be hanging government officials on a shift from 35% to 40% bond requirement?
They've boiled quite a few frogs in their lifetimes and they are experts at turning up the heat slowly.
Try to seize? SEIZE? it is not physical monies. A simple matter of FedGov overriding computers and all that stuff magically disappears. They do not have to TRY.
Cashing out a 401k early results in losing 40-45%. But 60% is still more than 0%.
Myself, I cashed out a portion last year and paid off my home, am now essentially debt free. Just waiting for this house of cards to fall.