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Re: Class Warfare's Next Target: 401(k) Savings
Dear Ash ... what may not be in your consideration is that one, because of the government Tax incentive and future tax exemption of your 401k it already has moral hazard written all over it and the government "thinks" it already owns some of it and two, as DOW 1000 (or whatever inflation adjusted number near worthless will be) approaches you will be begging to convert that paper to government paper thinking it is better to have something rather than have nothing.
In the new economy the only entity having the chance to buffer paper wealth for more than a few years will be the government. Get a government job. Take the 10% haircut now and invest in land, businesses near your home, and your kids. You'll be better off.
My tongue is slightly in my cheek but only slightly.
Dear Ash ... what may not be in your consideration is that one, because of the government Tax incentive and future tax exemption of your 401k it already has moral hazard written all over it and the government "thinks" it already owns some of it and two, as DOW 1000 (or whatever inflation adjusted number near worthless will be) approaches you will be begging to convert that paper to government paper thinking it is better to have something rather than have nothing.
In the new economy the only entity having the chance to buffer paper wealth for more than a few years will be the government. Get a government job. Take the 10% haircut now and invest in land, businesses near your home, and your kids. You'll be better off.
My tongue is slightly in my cheek but only slightly.
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