muses of the moment

August 21, 2013

401k

Filed under: 401K and IRAs — totallygroovygirlfriday @ 1:20 pm

Click here for an excellent 401k article from Economics Voodoo. Some very interesting info regarding delivery problems, hidden fees, charges, and consequences.

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3 Comments »

  1. Wow, scary post. Trapped by endless fees and regulations, the 401K investor doesn’t stand against the corrupt banks, financial institutions and insurance companies. They want it all and they’ve written the rules to ensure that the get it.

    Comment by sw — August 23, 2013 @ 5:16 pm

  2. the IRS ruling is that a 401k distribution to a spouse in a divorce proceeding is not subject to the penalty…only to the income tax. therefore, to escape the penalty phase, your divorce decree should express this.

    Conceivably, the Court could allow the entire 401k of one spouse to, in an equitable distribution, be pledged to the other spouse and be cashed without penalty. see? while the spouse who earned the 401k amount receives other consideration. is NOT tax evasion, is tax avoidance. perfectly legal.

    Comment by eyecandy — August 24, 2013 @ 6:52 am

  3. SW,

    Yes, between you and me, gg is VERY concerned about the retiree. Between house prices collapsing long term and 401k slow erosion, and of course, the lack of MSM to highlight this is anyone, we are in serious trouble. We are going to have alot of starving and homeless old people in this country. And that is not even addressing the medical insurance issues. This is a major societal moral crisis in the making.

    gg

    Comment by totallygroovygirlfriday — August 24, 2013 @ 9:24 am


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