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Originally Posted by Slingin Sammy 33
Your point about SS being stolen is right, but part of saden's point is also correct. The difference in our portfolio's is partially because the funds/economy are down, but also keep in mind the guys running our 401Ks and the mutual funds they invest in are often colluding together in a major way. Put the 401K money in this fund to help me get my bonus, then I'll skim you a percentage here, percentage there, bonus $$$ off the top of contributions, plus the fact that we don't have direct control of our 401Ks to move money out quickly when there is a drastic market turn. By the time we can react, it's too late.
I'm done allowing others control over my $$$. I'm putting the minimum required in my 401K (my corp match isn't very good). Once the economy turns a bit, my savings will be going into a self-directed IRA, or similar vehicle that I can control as necessary, or into expanding my business.
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Great post Mr. Baugh ! I actually roled my Roth IRA into a brokerage account , it was the best move I have ever made as far as personal finance ! With CNBC TV and some of the Internet sites , like Zach's and Seekingalpha.com , I have been able do make some nice gains since March. The great thing about having control over your IRA , you can almost guarantee some gains ,,,, buying stocks that pay nice dividends the day before the ex-dividend date
Make Ex-Dividends Work For You . Thus getting some free money < and no taxation on IRA's > !