It's my money. Get your blankity-blank hands off it, congress and
president. I should be free to use it as I see fit - anytime, anyway without you
taking what you call a 'penalty'! It doesn't belong to banks,
brokers or investment houses. It belongs to me and only me.
"With these new rules, the government has agreed to be more clear and
simple."That should read that the government is forcing your
investment bank to be more clear and simple. Silly conservatives - the
government doesn't run your 401k, "stuff".And stuff,
you are free to not have a tax deferred 401k. Nobody is forcing you to do it.
You are free to have a brokerage stock account and "use it as I see fit -
anytime, anyway without you taking what you call a 'penalty'!"
Screwdriver, the government sets the rules, such as A) can only invest a bare
minimum of ~2500 (or whatever the min is now); B) can't withdraw it without
penalty until your 59.5 years old (with a few exceptions) and many other rules.
Those are enforced by the IRS, which is a government entity. The
bottom line is that the government is inhibiting me from using my money as I see
fit. They shouldn't be. I'm already doing other things
besides a 401k.