The 401k Ripoff
Have you considered putting your hard earned dollars into the 401k plan possibly provided by your current employer? Do they tell you they will give you something like a fifty percent contribution? Does this sound too good to be true? Well, you know what, if it sounds too good to be true it probably is.
Now do not get me wrong. I by no means claim to be a financial expert. However, 401k plans just came into existence a few years back and the first time I heard about them I actually got really suspicious. I mean why is it that you cannot withdraw your money without a penalty? That makes no sense! What kind of legitimate investment is it if they penalize you for using your own money? What if you have enough to retire early? So now some bank and your wonderful employer are going to also control your retirement age? I just do not get it.
Now I personally do not see the benefit of storing your funds in a 401k. It sounds like a big headache and you cannot even have access to the money when you really need it. Why not just put it in an interest bearing bank account and get it over with? At least you can take out your money any time without penalty.
Lets be real, most of us probably are not going to make it too much past age sixty five anyhow. With all the stresses that we have in life I mean I will seriously consider myself to be lucky to make it to sixty five at all.
Now I wonder what these big corporations get out of making us sign up for their 401k plan. Maybe they get some kickback from the banks or the government. I mean your money is just sitting there and earning interest and they are using it to fund their operations. Do you really see any of it? Probably not. You see crumbs for the birds!
Now I am poor and I try to be as much in debt as possible. I see no point in limiting my spending and try to owe as much money on credit-card as my credit limit will allow. Why you may ask? Well, it is because my boss pays me so little that no matter how hard I try I will never have any savings nor will I ever be able to pay off everything I owe. This is the reason why I decided not to care anymore. You see once you are dead all the debt you have will be forgiven and those rich companies will have to pay for it anyhow. So good luck and good buy.