Politicians and 401K Organizations wanting our paychecks again

[Anathema]

This is a thread on 401K's. You just want to rant as your rant has nothing to do with the topic

I’m just trying to ensure that people realize 401Ks aren’t necessary and may not even be good for them and for Society as a whole.

 

[Mr Natural]

I’ve been retired 20 years now. The best 20 years of my life.

 

[pknopp]

This is a thread on 401K's. You just want to rant as your rant has nothing to do with the topic

I’m just trying to ensure that people realize 401Ks aren’t necessary and may not even be good for them and for Society as a whole.

You want to work your entire life so no, saving isn't important.

 

[Anathema]

You want to work your entire life so no, saving isn't important

What i WANT is irrelevant. I’m actually one of the laziest SOBs you’ve ever met. There has not been a single day in my life where I WANTED to go to work or school.

However, I was taught in my youth, and have come to agree as an adult, thst anyone who is not capable of supporting themselves (and their family) and contribute to Society does not deserve to be allowed to live. Therefore I bust my ass constantly to ensure I support my wife and myself and to contribute. When I am no longer able to do that, it’s time to take the ride to the other side of Eternity.

 

[pknopp]

You want to work your entire life so no, saving isn't important

What i WANT is irrelevant. I’m actually one of the laziest SOBs you’ve ever met. There has not been a single day in my life where I WANTED to go to work or school.

However, I was taught in my youth, and have come to agree as an adult, thst anyone who is not capable of supporting themselves (and their family) and contribute to Society does not deserve to be allowed to live. Therefore I bust my ass constantly to ensure I support my wife and myself and to contribute. When I am no longer able to do that, it’s time to take the ride to the other side of Eternity.

You are ranting again.

 

[Anathema]

You are ranting again

Yess, and? Thst seems to be an issue for YOU, not for me.

 

[Baron Von Murderpaws]

The principles of this argument are:

1. Government is slowly encroaching on our rights to keep OUR money WE work for, without
THEM being involved.

2. NOBODY should EVER have any right to PRE-sign up employees for ANYTHING.........EVER, without EXPRESS WRITTEN PERMISSION BY THE EMPLOYEE!!

 

[Baron Von Murderpaws]

I am fine with what they are hoping to achieve in theory. Nobody is forcing people to join. It just makes it easier for people who work for mom and pop shops to plan for their retirement. When I set mine up for my S-corp, it cost like $1800 up front and still costs me on average $30 a month in addition to what the fund fees are. Spreading those costs over a lot of people or doing away with them could benefit small employers.

But they ARE forcing people to have these 401K "plans" by underhandedly creating bills so that banking institutions can siphon off an employees money without their express written consent!! This money is HELD HOSTAGE from the employee, while the banks make TONS off the employees money, and while the politicians get kickbacks for passing this bill (hopefully not).

I've been a victim of this crime already, as have many, many, many, many other employees I've talked to over the years!!

It's fine and dandy if you make enough money to pay ALL of your bills, medical expenses, homes, cars, and kids, and have PLENTY of money left over to invest in anything you want, including a 401K plan...............but MILLIONS of us that work from paycheck to paycheck, especially now after all this pandemic shit going on, DO NOT HAVE THE MONEY FOR SUCH "plans"!!!!

Especially underhanded plans where employees ARE NOT NOTIFIED that they have been "pre-signed up" for this communist program!! And once they start taking money out of an employees paycheck, it's all over!! The employee is refused their pay returned to them! The communist program continues to serve the banks and politicians, and continues to harm the employee!!

This kind of thing is fine for management positions and above, but NOT for positions BELOW management level, or people making LESS than $40.00 an hour.

For people like me that work from paycheck to paycheck CANNOT afford ANY amount of pay taken out of our checks! Even $5 stolen from our checks can result in many hazards.........can't afford gas for the work week, can't make the full rent payment, can't afford to pay daycare for the week, etc.....

If you make plenty of money to cover all your bases, more power to you. But NOBODY should be creating underhanded, illegal, and communist programs to be deceiving, defrauding, and victimizing people that have to work low paying jobs by corrupt companies who refuse to pay a living wage and offer REAL raises based on employee merit, and not just copping out by using "blanket raises".

Every cent I make is put to things I HAVE to HAVE, and now that Im older, stealing money from my pay in this way would literally kill me, as I have several thousand dollars worth of hospital bills I am attempting to pay off.

401K's and other such programs should not be FORCED by underhanded means on people that would have their lives upheaved even more than they are now, by this communist program.

 

[pknopp]

The principles of this argument are:

1. Government is slowly encroaching on our rights to keep OUR money WE work for, without
THEM being involved.

2. NOBODY should EVER have any right to PRE-sign up employees for ANYTHING.........EVER, without EXPRESS WRITTEN PERMISSION BY THE EMPLOYEE!!

Not that you can explain how it is you won't be able to keep your money.

 

[pknopp]

I am fine with what they are hoping to achieve in theory. Nobody is forcing people to join. It just makes it easier for people who work for mom and pop shops to plan for their retirement. When I set mine up for my S-corp, it cost like $1800 up front and still costs me on average $30 a month in addition to what the fund fees are. Spreading those costs over a lot of people or doing away with them could benefit small employers.

But they ARE forcing people to have these 401K "plans" by underhandedly creating bills so that banking institutions can siphon off an employees money without their express written consent!! This money is HELD HOSTAGE from the employee, while the banks make TONS off the employees money, and while the politicians get kickbacks for passing this bill (hopefully not).

I've been a victim of this crime already, as have many, many, many, many other employees I've talked to over the years!!

It's fine and dandy if you make enough money to pay ALL of your bills, medical expenses, homes, cars, and kids, and have PLENTY of money left over to invest in anything you want, including a 401K plan...............but MILLIONS of us that work from paycheck to paycheck, especially now after all this pandemic shit going on, DO NOT HAVE THE MONEY FOR SUCH "plans"!!!!

Especially underhanded plans where employees ARE NOT NOTIFIED that they have been "pre-signed up" for this communist program!! And once they start taking money out of an employees paycheck, it's all over!! The employee is refused their pay returned to them! The communist program continues to serve the banks and politicians, and continues to harm the employee!!

This kind of thing is fine for management positions and above, but NOT for positions BELOW management level, or people making LESS than $40.00 an hour.

For people like me that work from paycheck to paycheck CANNOT afford ANY amount of pay taken out of our checks! Even $5 stolen from our checks can result in many hazards.........can't afford gas for the work week, can't make the full rent payment, can't afford to pay daycare for the week, etc.....

If you make plenty of money to cover all your bases, more power to you. But NOBODY should be creating underhanded, illegal, and communist programs to be deceiving, defrauding, and victimizing people that have to work low paying jobs by corrupt companies who refuse to pay a living wage and offer REAL raises based on employee merit, and not just copping out by using "blanket raises".

Every cent I make is put to things I HAVE to HAVE, and now that Im older, stealing money from my pay in this way would literally kill me, as I have several thousand dollars worth of hospital bills I am attempting to pay off.

401K's and other such programs should not be FORCED by underhanded means on people that would have their lives upheaved even more than they are now, by this communist program.

I started drawing from mine in October. 2k (before taxes). I have 20K more in my account now than I did when I started taking money out.

I just can't get into all of this so I have someone doing it. Yes he takes a small percent for handling it but the banks get none. I'm not sure you even understand how this all works. The banks never have been involved in my 401K.

 

[Dekster]

I am fine with what they are hoping to achieve in theory. Nobody is forcing people to join. It just makes it easier for people who work for mom and pop shops to plan for their retirement. When I set mine up for my S-corp, it cost like $1800 up front and still costs me on average $30 a month in addition to what the fund fees are. Spreading those costs over a lot of people or doing away with them could benefit small employers.

But they ARE forcing people to have these 401K "plans" by underhandedly creating bills so that banking institutions can siphon off an employees money without their express written consent!! This money is HELD HOSTAGE from the employee, while the banks make TONS off the employees money, and while the politicians get kickbacks for passing this bill (hopefully not).

I've been a victim of this crime already, as have many, many, many, many other employees I've talked to over the years!!

It's fine and dandy if you make enough money to pay ALL of your bills, medical expenses, homes, cars, and kids, and have PLENTY of money left over to invest in anything you want, including a 401K plan...............but MILLIONS of us that work from paycheck to paycheck, especially now after all this pandemic shit going on, DO NOT HAVE THE MONEY FOR SUCH "plans"!!!!

Especially underhanded plans where employees ARE NOT NOTIFIED that they have been "pre-signed up" for this communist program!! And once they start taking money out of an employees paycheck, it's all over!! The employee is refused their pay returned to them! The communist program continues to serve the banks and politicians, and continues to harm the employee!!

This kind of thing is fine for management positions and above, but NOT for positions BELOW management level, or people making LESS than $40.00 an hour.

For people like me that work from paycheck to paycheck CANNOT afford ANY amount of pay taken out of our checks! Even $5 stolen from our checks can result in many hazards.........can't afford gas for the work week, can't make the full rent payment, can't afford to pay daycare for the week, etc.....

If you make plenty of money to cover all your bases, more power to you. But NOBODY should be creating underhanded, illegal, and communist programs to be deceiving, defrauding, and victimizing people that have to work low paying jobs by corrupt companies who refuse to pay a living wage and offer REAL raises based on employee merit, and not just copping out by using "blanket raises".

Every cent I make is put to things I HAVE to HAVE, and now that Im older, stealing money from my pay in this way would literally kill me, as I have several thousand dollars worth of hospital bills I am attempting to pay off.

401K's and other such programs should not be FORCED by underhanded means on people that would have their lives upheaved even more than they are now, by this communist program.

Nobody is forced to put a dime out of their own pocket in. Some employers elect to do a level contribution from their own pockets into 401K and IRA's and some do it only as a match up to a certain percentage for those who elect to contribute themselves. The reason most employers that do a level contribution do it is because their fund has become top-heavy and it is the only way they can keep from being penalized. That happened at my old work's SEP-IRA system. Too few people elected to participate so the owner's personal contributions occupied too much of the collective balance when it was just a dollar for dollar match.

 

[Jarlaxle]

There is NO program that will EVER get me to contribute to a 401K or other retirement account. Hell, I wish I could trade my pension for additional current wages.

I will not survive a retirement. I have no plan to. When I can no longer work it’s time to check out, permanently.

Why wait?

 

[justinacolmena]

Stop this Communist bill now!!

No kidding. They're professional money managers. They charge money to manage your money for you and make decisions with your money for you over your head. It's all about the management fees "in the business."