Show-me Account Talk

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Steadygain said:
CB,

This is the very first I've heard anything about this AT ALL.

I don't understand this. How can Obama (or anyone) let us withdrawn money TAX FREE. I think that is very wrong and is in essense an attack against anyone who is not a Federal Employee.

I believe every dollar should be taxed regardless of who you are.
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Steady,

It covers anyone that has a 401K retirement Plan and Roth. It's not limited to the Feds.

CB
 
CountryBoy said:
Just one of the many google search links.

I agree with lady Show-me, thanks for letting us ramble on about this. :)

CB


http://www.dispatchpolitics.com/live/content/local_news/stories/2008/10/13/aobama.html?sid=101
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THANK YOU !!!

CB,
I'm thrilled someone is taking this seriously and really making concrete plans to turn things around.

Thanks Show-me and everyone else contributing to the MB.

This article spells it out - WONDERFUL; ABSOLUTELY WONDERFUL !!


woops - thanks for the last reply as well
 
XL-entLady said:
My understanding is similar to CB's. If that's correct, I think that could allow my husband and me to have $40k (in two years) that could go into an account that is much less restrictive than TSP. It would still leave the vast majority of our retirement invested in TSP ("full faith and credit" is not a bad thing!). But that would allow us to have a reasonably substantial sum in a much less restrictive environment.
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More reading on the subject leads me to believe that it will probably be $10k per year per family, rather than the $10k per IRA/401k that I originally thought. So that would mean we could move $20k (not $40k)from our TSP into an IRA that is more easily controlled. Still not a bad thing, IMHO.

Lady
 
XL-entLady said:
More reading on the subject leads me to believe that it will probably be $10k per year per family, rather than the $10k per IRA/401k that I originally thought. So that would mean we could move $20k (not $40k)from our TSP into an IRA that is more easily controlled. Still not a bad thing, IMHO.

Lady
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Hey Sweets - I file jointly (but don't know if that makes any difference). If it's $10 per family then how do you get $20.

I doubt BOTH you and the sweet adorable man can both collect $10 a piece.

PS whenever I talk money I talk in thousands.
 
Just a thought. If we had the opportunity to withdraw 10K from our TSP "tax free" for two years and almost everyone took advantage of this opportunity that would be over 30 billion per year. Just a small dent in the total.:rolleyes:
 
Steadygain said:
Hey Sweets - I file jointly (but don't know if that makes any difference). If it's $10 per family then how do you get $20.

I doubt BOTH you and the sweet adorable man can both collect $10 a piece.

PS whenever I talk money I talk in thousands.
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The $20 comes in because the proposed plan is to allow it for 2009 and then allow it retroactively for 2008. Two years = $20. :cool:

BTW, the Foreward on your story is exceptional! I'm looking forward to the next installment with anticipation!

Lady
 
IRA and or 401k, 15% up to $10k for each year 2008 and 2009 is what I read as Obama's plan.

McCain wants to add that they eliminate the mandatory withdrawal at 70.5. Why make the elderly sell at the bottom if they do not want to.
 
Show-me said:
Hessian,
That is a good question. Anything FDIC insured would be safe. You can get Roth CD's.
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OK, that's good to know on the Bank/Investment question.
On the Roth issue, there's a limit per year - and though I've been maxing it each year, mine isn't yet built up ( & 4 years until MRA). :blink:
I'm with look into all options though.
You use ScottTrade?
 
You can use Scottrade but I heard on Clark Howard there has been issues with redeeming CD's from failed banks as it goes thru the broker and not directly with the FDIC.

Basically the broker are being accused of shorting a few days of interest on the CD.
 
Show-me said:
Good one! Just a FYI, keep your video and digital cameras handy. We had a incident in our 'hood this weekend and I was thinking they make great evidence. Bad economy equals bad actions by citizens. Be prepared.
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Flash back: The incident got worse, somebody has been dumping trash next to the road on our property. Call Sheriff's office and reported it as a second incident. Gave background on weekend incident and who I thought it was. I was right. They busted him and proceeded to tell me he is a registered sex offender and come from a family of felon's doing life in Federal prison for drug trafficking. He is a career criminal getting ready to do time for felony fleeing a officer.

Love that right to bear arms and it's loaded.
 
Show-me said:
Flash back: The incident got worse, somebody has been dumping trash next to the road on our property. Call Sheriff's office and reported it as a second incident. Gave background on weekend incident and who I thought it was. I was right. They busted him and proceeded to tell me he is a registered sex offender and come from a family of felon's doing life in Federal prison for drug trafficking. He is a career criminal getting ready to do time for felony fleeing a officer.

Love that right to bear arms and it's loaded.
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Well, can't bear arms here because our fences have to be 3' chain link, and two blocks from an elementry school. With the downturn, because we are at the far end of the commute to DC, housing is going for a song (when it goesl).

One neighbor had her window shot with a BBGun while she was on vacation, the other neighbor's kids were shot at (not directly but someone's a show off) with possibly same bbgun. Don't blame immigrants, this is Prince William County with the strictest anti-immigrant laws in the DC area. Our house was probably spared because it's the only one story (others in the area are two stories) and it's hard to see with all the trees around it, and the sig other watches late night TV (leaving the lights on).
 
Show-me said:
They busted him and proceeded to tell me he is a registered sex offender and come from a family of felon's doing life in Federal prison for drug trafficking. He is a career criminal getting ready to do time for felony fleeing a officer.
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Show-me,
As it turns out many of these individuals are genitically wired to behave the way they do. It's an abnormal property of the brain whereby too much of this or that is largely always in place - from an area that's defective.

We have the ability to correct it - with a guarantee that the sex drive (for instance) could be shut off - and he could be a productive citizen and pretty much live like the rest of us. But we are a long ways off from this being considered an acceptable practice.
 
Show-me said:
Love that right to bear arms and it's loaded.
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200 years ago you probably could have shot the offender and the Sheriff's wife would have baked you an apple pie!

My how the times have changed...

P.S. I cleaned my guns last night, and damm I love the smell of Napalm in the morning! Seriously though, I need to buy my kids some guns for their birthday. My daughter will be 13 this march and I want to ensure I pass the Right to Bear Arms down to the next generation.
 
JTH said:
200 years ago you probably could have shot the offender and the Sheriff's wife would have baked you an apple pie!

My how the times have changed...

P.S. I cleaned my guns last night, and damm I love the smell of Napalm in the morning! Seriously though, I need to buy my kids some guns for their birthday. My daughter will be 13 this march and I want to ensure I pass the Right to Bear Arms down to the next generation.
Click to expand...

My daughter has already requested a Glock 9mm Model 26 for her Graduation present from College next year. She has a CCW and the 26 is a sub compact. Hopefully we'll always have that right. :worried:

CB
 
Viva La Migra said:
Not under an Obama, Reid, Pelosi regime! Watch out for the Brady bill on Steroids if that happens!
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They aren't going to have time to play with the gun laws.

The District may try again, since violence did go down there with the control laws - and they have the Statehood issue.
 
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