patrick.net

If there's one thing I'm certain of, it's that this is a BANKSTER idea. 401K are often locked up in staid funds.

In the investing world, VELOCITY of money is everything. Everyone should spend every cent as soon as it comes in and save nothing. The more velocity there is on money, the faster the FIRE people can pile up fees. The already outsized growth of their sector, needs more sugar so the tumor can get even bigger.

This is why bankers are not united against Social Security. It gives them a fiction of a backstop, so they can claim you don't need to save anything at all.

Why the hell not?

What we should leave it there until Wall Street and rotten federal finance policy sees fit to destroy it?

You know there were plenty of people who retired in 07 and 08 that didn't get to enjoy a market rebound.

It's their damned money if they take a notion to pull it out and take off to Las Vegas and blow it all on one round of blackjack, it's none of anyone's business.

Let's end the tyranny and allow recreational marijuana to be covered by Medicare, Medicaid and participating ACA insurers!

Everybody must get stoned.

As a conservative, I can say this is an Obama policy I can get behind!

1) Give people more control and freedom over their own choices and money.

2) Get rid of a tax penalty on those who can least afford it

3) Tell the banksters to F themselves!!!

I only hope that if you have removed money from the IRA/401k, you are allowed to put it back in again.

Technically, haven't 401K loans been in place for a long time to do essentially the same thing?

Vicente says

Technically, haven't 401K loans been in place for a long time to do essentially the same thing?

Yeah, but making them penalty free opens the door to using them as a substitute for a bank account.

Blurtman says

Let's end the tyranny and allow recreational marijuana to be covered by Medicare, Medicaid and participating ACA insurers!

Everybody must get stoned.

Dylan swears rainy day women wasn't a drug song. Check out the flatt and scruggs bluegrass cover. https://www.youtube.com/watch?v=zP6Be7mappQ

bob2356 says

Dylan swears rainy day women wasn't a drug song. Check out the flatt and scruggs bluegrass cover.

Interesting, maybe not a drug song but I think Lester and Earl were referring to alcohol.

adjective, Slang.
1.
intoxicated or dazed from drugs; high (sometimes followed by out):
to be stoned out on pot.
2.
drunk.

indigenous says

bob2356 says

Dylan swears rainy day women wasn't a drug song. Check out the flatt and scruggs bluegrass cover.

Interesting, maybe not a drug song but I think Lester and Earl were referring to alcohol.

adjective, Slang.

1.

intoxicated or dazed from drugs; high (sometimes followed by out):

to be stoned out on pot.

2.

drunk.

Dylan claims the song is about being stoned in the biblical sense. He specifically said in an interview that anyone who views rainy day women as a drug song isn't familiar with the book of acts and that the song is about persecution. Of course Dylan was well known for all kinds of double meanings and playing with peoples heads so who knows. Some people like Dylan biographer Andy Gill claim the whole thing was a bunch of biblical puns put to salvation army music as a goof on the folkies who were pissed about Dylan going electric the year before.

No one will ever know except Dylan.

So Earl and Lester had it wrong too?

There is no 401k loan with no job.

If you can't repay the loan, you get to report the income as well as pay penalty. That would make the loan as stupid as a loan shark.