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Stupid Banks
So, get ready for a rant. Big Business killed pensions because they didn’t want to fund retirements. So, the banks kick in this idea of 401k, so everyone can have retirements. In fact, the consumer was sold a bill of goods that this is the best thing since slice bread. It’s not, because the consumer has no sane choices. Bankers gamble with your money, or buy property, drive up bubbles to crash the markets, and get to keep the properties and the rent that comes in from that property. What does the consumer get? Screwed!
But it’s worst than that right now in this economy. My saving account at my bank is safer than the 401k? Can I take my money out and put in a safer account? No! I have to quit the job to cash out my 401k. Quitting and putting it in my savings results in tax penalty, even though- taking it out of the hands of those bankers and putting it into my savings is a smarter investment at this moment in time. If the point is to guarantee i have a retirement, then should there be a savings option that promises no losses?!
So, I am doing math. I hate math. It is actually better for me to have an accountant. Most people would benefit from an accountant. Should I quit, cash out my 401k, put that in the bank, and just find another job? I wonder if everyone quit and pulled their retirement out of the bank would effect the economy.
