It Is None Of The Government's Business

Started by supsalemgr, April 28, 2022, 01:29:12 PM

Previous topic - Next topic

supsalemgr

https://www.cnbc.com/.../senate-democrats-bill-tries-to...

I found this article quite interesting. Before I get into the meat of this subject let me state one opinion. This decision is not any of the federal governments business!

I worked for a large national corporation for 42 years and grateful to have had  the benefit of a pension and a 401-k plan. When I retired in 2006 i took the lump sum pension. Many of my colleagues also retired that year and because interest rates had fallen the lump sum was much larger. It has turned out to be a good decision.

That being said, it worked for me because we have a financial advisor who is trustworthy  and knows our financial goals. To me this is the key. I would not recommend a lump sum if someone thinks they can manage their own portfolio.
"If you can't run with the big dawgs, stay on the porch!"

Solar

Quote from: supsalemgr on April 28, 2022, 01:29:12 PMhttps://www.cnbc.com/.../senate-democrats-bill-tries-to...

I found this article quite interesting. Before I get into the meat of this subject let me state one opinion. This decision is not any of the federal governments business!

I worked for a large national corporation for 42 years and grateful to have had  the benefit of a pension and a 401-k plan. When I retired in 2006 i took the lump sum pension. Many of my colleagues also retired that year and because interest rates had fallen the lump sum was much larger. It has turned out to be a good decision.

That being said, it worked for me because we have a financial advisor who is trustworthy  and knows our financial goals. To me this is the key. I would not recommend a lump sum if someone thinks they can manage their own portfolio.
Interesting, the link say's the article doesn't exist. Did they get real feed back with actual facts and stats exposing their Marxism? :biggrin:
Official Trump Cult Member

#WWG1WGA

Q PATRIOT!!!

supsalemgr

Quote from: Solar on April 29, 2022, 06:05:41 AMInteresting, the link say's the article doesn't exist. Did they get real feed back with actual facts and stats exposing their Marxism? :biggrin:

I picked it up from the CNBC website. It fits this administration's MO in that they want to control everything about our personal lives.
"If you can't run with the big dawgs, stay on the porch!"

Solar

Quote from: supsalemgr on April 29, 2022, 11:33:42 AMI picked it up from the CNBC website. It fits this administration's MO in that they want to control everything about our personal lives.
That's the problem, there is no article:

"We're sorry, the page you were looking for cannot be found.
Here are some trending stories that might interest you."


Can you find it elsewhere?
Official Trump Cult Member

#WWG1WGA

Q PATRIOT!!!

supsalemgr

Quote from: Solar on April 30, 2022, 06:22:14 AMThat's the problem, there is no article:

"We're sorry, the page you were looking for cannot be found.
Here are some trending stories that might interest you."


Can you find it elsewhere?

I cannot. Interesting they took it down.
"If you can't run with the big dawgs, stay on the porch!"

Solar

Official Trump Cult Member

#WWG1WGA

Q PATRIOT!!!

supsalemgr

https://www.msn.com/en-us/money/savingandinvesting/secure-act-20-passes-house-signaling-massive-retirement-savings-and-investment-policy-shift/ar-AAVG0TE?li=BBnb7Kz

I found another article. There are a couple of points that could be beneficial. However, overall it is more government control.

It requires automatic enrollment and then mandated increases until the 10% threshold is met. This is a disincentive. Many folks just getting started can't afford up to 10%, especially with the inflation we now have.

The bottom line. It is not up to the feds to determine personal financial choices.
"If you can't run with the big dawgs, stay on the porch!"