Then people could use their own money to make ends meet, cover expenses after unemployment runs out or transfer funds from losing mutual funds to pay down high interest credit cards and 2nd mortgages.

They always talk about our money… we’ll it’s mine and I need it NOW!!!

Yes, I know this would be like a run on the bank, but they don’t deserve to be trusted with our savings any more !!!!!!!!!!!!!!!!

Now that we are reaching a critical mass of having a future of more people drawing it than paying in, wouldn’t it be a good way to keep the program from collapsing?
And they could enforce it by charging a huge tax penalty to anyone who opted out and did not invest in their retirement.

I maxed out my 401K account. Is there any way for me to contribute to the Traditional IRA for the same year and for my contributions to be tax deductable? Thanks in advance.

ect.) might be best for my personal situation? Could someone explain the plan that is more important and why this plan is best for me.

I know that starting next yr, it will be possible to roll those 401K accounts eligible for rollover into an IRA to be rolled directly into a Roth IRA. If 100K is rolled over from a 401K to a ROTH IRA in 2008, will all 100K be taxed in 2008.

Aren’t they just paper losses? When the market recovers later on, won’t they recover their “paper losses” sometime in the future? I don’t understand this. Can someone please explain it to me. I figure it’s not a loss unless they cashed out of their programs and actually “realized” their losses.

Is there a maximum contribution amount for employer-sponsored 401K plans? Does your total combined IRA contribution for ’08 (that’s Roth IRA plus 401K) have to be $5,000 or less?

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