Not Investment Advice, just a thought I had about retirement plans

posted 2 years ago by COLNE68601 2 years ago by COLNE68601 +9 / -0

They're keeping a lot of us tied down by controlling retirement savings. I know the market is shit right now, but it would send a big message if a bunch of Americans pulled money out of 401K-type retirement plans. My wife and I cashed in my 401K a couple months ago and paid off our home loan 8 years early. Obviously there will be a penalty for the early withdrawal but we're also going to save tens of thousands on interest payments on our home loan so I'm hoping we're close to breaking even on the transaction. We've begun to invest our monthly mortgage payment into ethical investments that we choose, which feels great.

It's possible they're tanking markets on purpose to keep people from cashing out of the system. They're hoping they can pull their Great Reset shenanigans and nobody will touch their money because we've been conditioned to ride out the lows. These 401K plans give big wads of our cash to the people who don't give a damn about us. Think about taking some of that control away from them.

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– Oblakhan 7 points 2 years ago +7 / -0

Pulling your 401 for many people will cost them close to 40% of the money and in many instances that is the difference between retiring and working for the rest of your life.

The rules were set up to fuck the little guy, and keep him locked in their system.

What needs to happen is the personal income tax needs to be stopped, and the IRS needs to be eliminated. Then people can do with their own money what they want. In fact for many they wouldn't need their damned 401K system.