SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John McCarthy who wrote (74921)2/20/2008 9:11:40 AM
From: Think4Yourself  Read Replies (2) of 116555
 
The 401-K situation is interesting. I have been thinking about it since you posted this, and have a few thoughts.

I had a 401-K a number of years back, until I took the funds and put them in my Roth so I could manage it. The funds available to me under the 401-L plan were pathetic. They had high fees and poor performance. If this is normal then it may not be a bad thing that people are raiding their 401-K's now. The stock market is likely to suffer a major decline in the next few years, so why not pull funds when they are as high as they are going to get?

If I were in the financially distressed situation many Americans are in, I would declare bankruptcy first, or at least get rid of non-performing hard assets. Why throw away your retirement funds paying for things that are already worth less than what you owe?

Then again many of these people in trouble have the financial acumen of a rock, and are probably using their retirement funds to try and maintain an unsupportable lifestyle.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News