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In reply to the discussion: 401(k)s are a sham: Duped by a DIY retirement dream, elderly face staggeringly low living standards [View all]HERVEPA
(6,107 posts)179. You have 60 days if you take the money out of the employers 401k to put it into an IRA
Not 60 days from when you leave the company.
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401(k)s are a sham: Duped by a DIY retirement dream, elderly face staggeringly low living standards [View all]
NewDeal_Dem
Dec 2014
OP
As people near retirement or enter it, they are likelier and likelier to suffer catastropic
merrily
Dec 2014
#175
The 401k plan almost definitely igave him choices of where to invest. If he lost 2/3
HERVEPA
Dec 2014
#19
A lot of companies only offered their stock in the 401k. I think Enron was like that.
LiberalArkie
Dec 2014
#61
Yep, the game is rigged and "full disclosure" is not always what it's cracked up to be.
merrily
Dec 2014
#130
At interest rates for the last 6 years, putting $ in the bank is about like putting $ in a mattress.
merrily
Dec 2014
#131
Imagine what they would do to Bush's "individual accounts social security".
Enthusiast
Dec 2014
#160
here is a link....I don't think the ruling applies to trustee-to-trustee transfers
antigop
Dec 2014
#4
What's the same? The trustee to trustee transfer is verydifferent from the rollover where you take
progree
Dec 2014
#106
While I do not doubt for one second you are sincere in your convictions.....
A HERETIC I AM
Dec 2014
#15
Too many people do not understand basic principles of investing, nor do they understand the
still_one
Dec 2014
#16
First you start with 401Ks, then you take about IRA rollovers. The only way you can make a rollover
still_one
Dec 2014
#14
Top 5% owns about 2/3 of stock. Maybe owning that much gives some a better cushion
NewDeal_Dem
Dec 2014
#34
I said the top 5% owns 2/3 of all stock. The information from Pew is saying something different.
NewDeal_Dem
Dec 2014
#183
I didn't not contradict you or say you were wrong. All I was pointing out is that about 60% of
still_one
Dec 2014
#184
401K is the article, IRAs is my personal question. I don't have a 401K, thus I have no
NewDeal_Dem
Dec 2014
#33
Your confusion may be a perfectly understandable misunderstanding re: "rollover"
FBaggins
Dec 2014
#66
"You're thinking of a CD that "rolls over" into a new CD of the same maturity at the end of the term
NewDeal_Dem
Dec 2014
#87
Yes; I know I'm losing money to inflation but I don't know what else to put it in that's
NewDeal_Dem
Dec 2014
#119
food for thought, you may want to investigate I-Bonds. Now may not be the best time, and
still_one
Dec 2014
#181
Your complaint is legitimate, but you are being punished for one couple gaming it, and the IRS ruled
still_one
Dec 2014
#70
And I gave you the reason why the IRS didn't allow it, because of that case were they gamed it. I
still_one
Dec 2014
#101
You have 60 days if you take the money out of the employers 401k to put it into an IRA
HERVEPA
Dec 2014
#179
That isn't the point. The point you are making is people cannot afford to save for retirement
still_one
Dec 2014
#78
The government has been deeply involved already -- in destroying traditional pensions,
NewDeal_Dem
Dec 2014
#88
even before iras and 401ks there were a hell of a lot of people who did not have
still_one
Dec 2014
#99
That report has a lot of information to digest, and will take me some time to go through.
still_one
Dec 2014
#139
52k is without context. How many people per household, geographical area, and age group. a single
still_one
Dec 2014
#100
Real wages have been about stagnant for 50 years. That is far from so re: the real income of the 1%.
merrily
Dec 2014
#133
you understand that half the population has no pension, no stocks, no 401k, right?
NewDeal_Dem
Dec 2014
#46
Out of every dollar of profit made in the USA, 49 cents now goes to the Bankers & Big Money people
truedelphi
Dec 2014
#35
I was ripped off twice early on and I asked for a 401K, I was their pension specialist.
hollysmom
Dec 2014
#39
So companies should promise benefits to their own employees, and the taxpayers
hughee99
Dec 2014
#152
401ks ONLY help keeping the wall street casino alive AFTER the baby boomers leave.
pansypoo53219
Dec 2014
#80
the responses on retirement threads here on DU depress me. I think I'm going to add
liberal_at_heart
Dec 2014
#94
Does Elizabeth Warren recommend we don't invest? Put it under a mattress? Or stick to CD's?
progree
Dec 2014
#109
I have a 401K, a Roth IRA, own a bond and stock index funds, have savings, and physical precious
Yavin4
Dec 2014
#98
And then there are pensions, which apparently can be crushed in one fell swoop...
Matariki
Dec 2014
#105
Where I worked often most of the funds were sh** funds. The CEOs seemed to have a cozy relationship
RKP5637
Dec 2014
#107
If you have access to a 401k and an employee match you should absolutely take advantage of the match
Godhumor
Dec 2014
#112
It is not essentially free funds. Stop working and see if you still have a job and the "free funds".
Skeeter Barnes
Dec 2014
#143
A 401k was never designed to be all of your retirement. They were created to supplement pensions.
Skeeter Barnes
Dec 2014
#140
The greatest imperative related to this issue is the need to protect Social Security benefits ...
dawg
Dec 2014
#142
When I first got a 401k I went to the most financially savvy person I knew
Sen. Walter Sobchak
Dec 2014
#168
Whenever got into a new 401K I would take the different investment options to my financial adviser
B Calm
Dec 2014
#170
Only means when your employer goes belly up, you might still have something
One_Life_To_Give
Dec 2014
#178