401k/IRA Screw Job Coming?

[ASH]

Re: 401k/IRA Screw Job Coming?

What think all of you itulipans, should I transfer my 403b into an IRA or just take it all out and get crushed in taxes this year?

Damn those government bastards they make it so hard......

In my opinion it would be premature to take your retirement savings out of a tax-deferred vehicle. It may become necessary eventually, but I don't think there is any real risk of sudden confiscation.

Hell -- if you are keen on taking a tax hit this year, I would take the opposite bet, and convert traditional balances to Roth... if you've got the money lying around to cover the tax hit. I would do that myself, but it would require selling some physical PM to pay the taxes, and I'm not up for that one yet.

[Jay]

Re: 401k/IRA Screw Job Coming?

In my opinion it would be premature to take your retirement savings out of a tax-deferred vehicle. It may become necessary eventually, but I don't think there is any real risk of sudden confiscation.

Hell -- if you are keen on taking a tax hit this year, I would take the opposite bet, and convert traditional balances to Roth... if you've got the money lying around to cover the tax hit. I would do that myself, but it would require selling some physical PM to pay the taxes, and I'm not up for that one yet.

I actually have been thinking of doing just that. What do you think about jk's viewpoint that an IRA is of no benefit?

jk, you are close to or are retired correct? What did you do?

Edit: just caught up on the other thread, we should keep everything there. Thx.

[jk]

Re: 401k/IRA Screw Job Coming?

I actually have been thinking of doing just that. What do you think about jk's viewpoint that an IRA is of no benefit?

jk, you are close to or are retired correct? What did you do?

Edit: just caught up on the other thread, we should keep everything there. Thx.

i'm not retired, i've just cut back a bit - i.e. a few years ago i started taking 8 wks of vacation/year and cut back my hours 20% so i only see 100 patients/wk instead of 125. i have no plans to stop working altogether.

i think any regs re mandatory purchase of treasuries will hit ira's if they hit anything, that's why an ira is no advantage.

i've been thinking about starting to make some withdrawals, perhaps just take out about 4%/year, so that i have some assets outside my pension plan. right now everything's in my pension plan.

[Yaowarat]

Re: 401k/IRA Screw Job Coming?

I do have to say that Puplava...

Puplava... I let that guy drone on at night when I can't sleep. Better than a sleeping pill What a windbag. Who can listen to the hours and hours of the same crap repeated year over year ?