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401K??? yeah right

 
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Foesad



Joined: 26 Jan 2007
Posts: 198

PostPosted: Wed Jan 09, 2008 4:50 pm    Post subject: 401K??? yeah right Reply with quote

I've decided that I would have been better served in 2007 (and made more money) if I'd have taken the hit, pulled my money from my 401K, and stashed the cash under my matress. WTF????? If I'd have pulled the 25k out of Fidelity, I could have found ways to invest that money manually and made more than Fidelity is making me.
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Dwylbtzle



Joined: 26 Jan 2007
Posts: 4483
Location: Sun Valley, Idaho

PostPosted: Wed Jan 09, 2008 7:20 pm    Post subject: Reply with quote

just curious...
did yer portfolio get hit by the sub-prime bad loan collapse debacle?

normally I would say that the insane prices of houses
coming down
would be a good
and natural thing
because it got unrealistic
but
apparently all these weird real estate funds were created
wherein investors
(or the people, rather, who manage these funds FOR investors)
assumed houses would just go up in a straight line forever
and now whole gears of international finance are scrambled
because they didn't Confused
and tons of people can't pay the inflated interest on the inflated loans...
and they can't sell their house for even what they PAID for it...
so they are defaulting all over the place

so if yer 401k invested in these funds
you may have actually LOST money on the whole deal
last year Mad

*************

my dad bought a normal
average
three bedroom ranch house
in the suburbs of sacramento, ca
in 1966
for 35,000 dollars
and now it's worth a quarter of a million dollars
and THAT may really be how much inflation there has been
but the same house in certain areas near los angeles goes for a cool million Rolling Eyes
(or DOESN'T GO--but that's about what people are trying to ask, there, now)
THAT's GOT to be over-bubble-ified

and now tons of people have investment funds that are COUNTING on a
house like that selling for a million
and GOOD LUCK WITH THAT! Rolling Eyes

I think the word "MILLION" is just kinda a magic number
I don't care where you live
or what year it is
you say MILLION to somebody
and they're expecting some kinda mansion

when they started asking a million
in LA
for a normal house
THERE'S the popping of yer bubble

people will BACK OFF
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Dwylbtzle



Joined: 26 Jan 2007
Posts: 4483
Location: Sun Valley, Idaho

PostPosted: Wed Jan 09, 2008 11:44 pm    Post subject: Reply with quote

maybe yer right
take a look around
and see what you can get (percentage-wise) on some stocks that are out there
and see if you'd make more money

there are blue chip stocks that you buy directly
so there is never any broker's fee
and you can buy just ONE stock, at a time
if you want
and automatically re-invest any dividends

phone companies and pharmaceuticals and banks Laughing
they're NEVER gonna go out of business

then use the law of 72
divide the interest into 72
and that's how many years it would take any dollar invested
to double
12% doubles in six years
6% doubles in 12 years
etc

actually quicker
once you count the dividends that get re-invested, over the long-haul

that's what social security SHOULD be

the stock market is always gonna be producing a better return
than whatever it is the government does with the money they take out of
a person's paycheck
(they just spend it-they ADMIT this
-those dollars don't produce ANY "return"
for ANYbody
but they give you no choice, with THOSE dollars) Confused
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STROBE



Joined: 26 Jan 2007
Posts: 333
Location: BIG SKY MONTANA where the bad girls live.

PostPosted: Thu Apr 24, 2008 12:38 pm    Post subject: Reply with quote

I had to drag this topic out..
Things have taken a bit of a swing since the last post on THIS! Shocked
How many folks in L.A. still HAVE those big houses,NOW?
And do you still TRUST the stock market?
And do you still think BANKS will never go BROKE? Razz
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The Judge



Joined: 26 Jan 2007
Posts: 78

PostPosted: Thu Apr 24, 2008 3:38 pm    Post subject: Reply with quote

STROBE wrote:
I had to drag this topic out..
Things have taken a bit of a swing since the last post on THIS! Shocked
How many folks in L.A. still HAVE those big houses,NOW?
And do you still TRUST the stock market?
And do you still think BANKS will never go BROKE? Razz


It's gonna be all doom and gloom from now on.Credit crunch is here and will be felt for a few years to come,banks are tightening their belts.Oil is at $120 a barrel and there is also a rice crises going on..
The $$$$$ is falling faster than a comet,it's not looking good.
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Dwylbtzle



Joined: 26 Jan 2007
Posts: 4483
Location: Sun Valley, Idaho

PostPosted: Thu Apr 24, 2008 8:55 pm    Post subject: Reply with quote

I have a friend who has a conspiracy theory that the ONE WORLD conspirators want to drive America's economy down till everyone agrees to tie all the countries in the western hemisphere into one single curency
like the EURO
but they will call it the AMERO

I have no way of knowing if this is actualy true or not
or why someone would want this to happen

I guess SOMEONE would end up the winner
if this happened
but I don't know who

personally, they could call the money CHOPPED LIVER
and I wouldn't care
as long as they gave ME a bunch of it Laughing
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STROBE



Joined: 26 Jan 2007
Posts: 333
Location: BIG SKY MONTANA where the bad girls live.

PostPosted: Fri Apr 25, 2008 7:34 am    Post subject: Reply with quote

Its sad to say,but people are actualy starting to HOARD items.
A few big time markets like SAM'S are limiting the amount a bags of
RICE you can buy..I think 4 bags was the limit.
It is NOT going to get better any time soon.
Even our aid to poor countries that get free rice from us are gonna feel it.
It is making some people panic.Christ..this sucks!
I am not easily scared but I do think my next shopping trip will be to
purchase canned goods and dry goods,esp my COFFEE, before they
get so high I cant afford them.
Hell,I have a bread machine and I will just make my own dam bread.
Got to get flour and stuff before THAT gets out of site.
Maybe I should buy a cow...but it will eat more than I do. Razz
And my land lady and I are gonna try a bigger vegie garden this year.
Last year the dam deer got more than we did so we will have to put
up a TALL fence. Evil or Very Mad
Cant EVEN grow a flower..unless you cage it in,and thats no fun!
I said I would hunt no more with out my husband beside me,but I may
have to change that idea.After the deer fatten up on my garden,I will
eat THEM! Laughing Laughing
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Brian



Joined: 29 Aug 2007
Posts: 125
Location: Stevensville, Michigan USA

PostPosted: Fri Apr 25, 2008 9:20 am    Post subject: Reply with quote

Thursday -
A "very sorry" Wesley Snipes, star of the "Blade" movies, was sentenced to three years in prison
on Thursday for willfully failing to file U.S. income tax returns for 1999 through 2001.

He read a prepared statement, describing himself as an "idealist, naive, passionate, truth-seeking,
spiritual-seeking artist" who epitomized the expression "mo' money, mo' problems."

"I am very sorry for my mistakes and errors," Snipes told the judge. "This will never happen again."

His lawyers tried to give the court three envelopes with checks totaling $5 million, but the judge
and prosecutor said they could not accept the payments. An Internal Revenue Service agent
collected the money during a recess.

Prosecutors said Snipes had earned more than $38 million since 1999 but still had not filed tax
returns for the years 1999 through 2007 or paid any taxes prior to Thursday.


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STROBE



Joined: 26 Jan 2007
Posts: 333
Location: BIG SKY MONTANA where the bad girls live.

PostPosted: Sat Apr 26, 2008 12:03 pm    Post subject: Reply with quote

He deserved it..thats the problem with so called'superstars."
They think they are so special..not with the I.R.S. Rolling Eyes
What made him think just because he was famous he wouldnt have to pay
taxes,,well DUH.!
And of all the stupidity on his part..they gave him so many chances to pay up
and he ignored the warnings.I cant feel sorry for him.
2 things in life are certain..DEATH AND TAXES. Razz
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Brian



Joined: 29 Aug 2007
Posts: 125
Location: Stevensville, Michigan USA

PostPosted: Sat Apr 26, 2008 4:54 pm    Post subject: Reply with quote

Whatever his story was and is guess he shoulda coulda would've
--but didn't.

A lot of people--celebs especially, contribute to charity to write-off into the sunset.

From CNN -- ABOVE THE LAW:

Movie actor Wesley Snipes was indicted Tuesday on eight counts of tax fraud accusing him
of trying to cheat the government of $12 million in false refund claims.
Snipes, 44, also failed to file tax returns for six years, according to an indictment unsealed
in Tampa, Florida.

Federal prosecutors said that Snipes fraudulently claimed refunds totaling nearly
$12 million in 1996 and 1997 on income taxes already paid.

The indictment also charged him with failure to file returns between 1999 and 2004.

Our reaction to this news is the same as it was to the tax case brought against 'Survivor' winner
Richard Hatch: "How could you be so stupid?"

The incomes of these men are a matter of public record: in Hatch's case, because he won $1 million
on a nationally-televised reality show, and in Snipes's case, because it's published in Variety each
time he makes a new movie.

And the IRS is like a big talent agency: they always get their cut.

(Actually, that may be a poorly chosen reference for Snipes. This past August, he was sued for
$1.5 million by United Talent Agency, "for his alleged failure to pay the agreed percentage for four
film roles it helped him win.")
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Dwylbtzle



Joined: 26 Jan 2007
Posts: 4483
Location: Sun Valley, Idaho

PostPosted: Wed Apr 30, 2008 3:33 am    Post subject: Reply with quote

Quote:
write-off into the sunset.

that's funny! Laughing

yeah
I don't understand how famous, high-profile gross money earners think
they can get away with not even filing a tax return
i might be able to understand if they thought they were gonna get away
with paying some wrong, lesser amount, by filing slanted info
but snipes went years without even FILING Shocked Rolling Eyes
when everybody knew he was making SOME money from all those movies

********

I also don't understand why the stores are running out of rice
americans don't even eat that much rice
it's not like SOME countries, where rice is 85% of the populace's diet

they say it isn't even because of any rice SHORTAGE
people are just buying as much as they can NOW
because they believe the price is gonna go up
and the stuff keeps almost forever
so there's no worry about it spoiling
and they figure they're gonna want it SOMETIME
so they better buy it now
before they have to pay twice as much for it
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