I Warned You About This......
Back in January.
Obama Administration Makes Plans to Gobble Up 401(k)s
"The Obama Administration is making plans to take over the nation’s 401(k)s in order to bail out their union backers and their bankrupted pension plans."
Yes, these Sons-a-bitches are going to do this to you & you damn well better be bailing out of these programs now if you can.
Screw it. Take the hit from the fees and taxes and bail. Better a little now than none later. Invest it in something tangible.
Like I've always said here - "I am not a financial adviser". So don't depend on me to be your guide and savior on things like this.
But don't come bitching about how they raped you of your retirement either.
There just isn't enough money to keep things going as they have been. The unions are gonna be a hell of a lot higher on the the pecking order than you are.
Get over it and get to understanding the, "New Rules".
I wish I was wrong on this and I hope I am. But it ain't likely.
Gratuitous Picture for a Wednesday Night-
