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Old 05-01-2010, 12:16 PM   #41
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they will have to pry it from my cold, dead hands...
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Old 05-01-2010, 12:19 PM   #42
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Ha ha! In your backyard, with the rattlesnakes, scorpions, and prickly pear? No way.

Other than that, I have no reason to keep money anywhere but in the bank.
My backyard is better than any bank, as nobody would even suspect your stash is there. I will provide photos to show how these coffee cans are securely buried. I have no rattlesnakes nor scorpions, but why would these be bad? They would be cost-free guardians of your treasure! I will even raise some, just for you.
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Old 05-01-2010, 12:53 PM   #43
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No way am I using my backyard as a repository. My next-door neighbor owns a backhoe!
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Old 05-03-2010, 08:58 AM   #44
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The government already owns 25% of my 401(k). They are just letting me hold it for now.
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Old 05-03-2010, 09:34 AM   #45
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The government already owns 25% of my 401(k). They are just letting me hold it for now.
As of now, same here, but I'm planning on reducing their ownership to 15% when I retire.
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Old 05-03-2010, 12:57 PM   #46
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Why would the govt confiscate 401(k)s when they can just tax the heck out of them?
Consider the possibility of incremental confiscation- where the taxes on withdrawals exceed the interest earned on the balance.
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Old 05-03-2010, 01:06 PM   #47
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I never worried about outright confiscation, but I did worry about paying higher taxes on my 401(k) upon withdrawal than I would pay in a regular taxable account, so I didn't always max out my 401(k). Typical of me, I waffled back and forth. Hey, during the Bush II years, we were looking at historically low income tax rates and still had very high debt, so higher taxes in the future seemed like a pretty good bet.

So far, it hasn't worked out that way. My 2009 tax rate was ridiculously low.

Still, it is not to late for them to fix that.
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Old 05-03-2010, 01:09 PM   #48
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I never worried about outright confiscation, but I did worry about paying higher taxes on my 401(k) upon withdrawal than I would pay in a regular taxable account, so I didn't always max out my 401(k). Typical of me, I waffled back and forth. Hey, during the Bush II years, we were looking at historically low income tax rates and still had very high debt, so higher taxes in the future seemed like a pretty good bet.
There's no way they would ever be so transparent as to do an outright takeaway.

I do fear that at some point, the value of your retirement accounts may be used as one way to means-test Social Security.
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Old 05-03-2010, 01:29 PM   #49
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There's no way they would ever be so transparent as to do an outright takeaway.

I do fear that at some point, the value of your retirement accounts may be used as one way to means-test Social Security.


Dang. I hadn't though of that. You had to go and ruin my day didn't cha?
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Old 05-04-2010, 04:05 PM   #50
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Talk about hiding your stash in the attic , I just remember that I already posted a story of a man doing just that, and ending up with disastrous results.

You can read about it here.
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Old 05-04-2010, 07:16 PM   #51
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I think they would start WW3 indirectly somehow to keep the bond vigilante's away

Greece is just an experiment to see how much "Austerity" their gonna be able to get away with for now...
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Old 05-04-2010, 11:02 PM   #52
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If they confiscated all the 401K money it would only cover the deficit for 2 or 3 years, then what would the government do? And that wouldn't even be any help for state governments.
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Old 05-05-2010, 12:00 AM   #53
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If they confiscated all the 401K money it would only cover the deficit for 2 or 3 years...
Really! What a sobering fact, that what the citizenry takes a life to save, the government can spend in that short amount of time!
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