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Know the new rules for your 401(k)?

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  • stuff Provo, UT
    Aug. 24, 2012 11:31 a.m.

    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.

  • Screwdriver Casa Grande, AZ
    Aug. 24, 2012 8:40 a.m.

    "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'!"

  • stuff Provo, UT
    Aug. 23, 2012 4:31 p.m.

    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.