The Conservative Cave
Current Events => The DUmpster => Topic started by: franksolich on November 27, 2008, 06:02:07 AM
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4542292
Oh my.
I wasn't aware primitives had any money these past eight years, to save.
I thought primitives were just barely getting by.
merwin (1000+ posts) Wed Nov-26-08 08:19 PM
Original message
I just had to cash out my 401k
It was that or not be able to pay the rent and health insurance.
The incredibly sucky part is that my 401k had gone down from $14,000 down to $8,700 in less than a year due to Bush's financial ****up. And because of the penalty for early withdrawal, I am only getting like $6,1000.
So this year I've been diagnosed with Celiac's disease, had to stop trying to have another kid because the fertility dr is $500/month for the artificial insemination that we need. I lost my job for a couple months at the beginning of the year and got a new one that pays less than half as much. My wife is currently out of a job (since the beginning of October). And when my wife does get a new job, it won't be working at home anymore, so my 2 year old will have to be in full time daycare. We had to declare bankruptcy (no-asset case, thank God).
I am officially ready to be DONE with this year.
The only saving grace has been Obama getting elected... I actually have hope that things are going to improve eventually.
The really amazing part is that all of this has brought my wife and I closer together.
Anyways, thanks for listening to my rant! Had to get it out
Uh-oh.
That "eventually" stuff bothers me, really bothers me.
The Obamaites, and the Obamaite primitives, promised us things would get better right away, immediately, in the twinkling of an eye. And now they're reneging?
Phred42 (1000+ posts) Wed Nov-26-08 08:35 PM
Response to Original message
8. Had to do the same back in August
out of work for 18 months, no prospects and all other resources gone. the Sucky thing was that there would have een no penalty if I could have held out UNTIL FEB 09
HillbillyBob (201 posts) Wed Nov-26-08 09:18 PM
Response to Original message
15. May you have many blessings to come
My partner and I went through a few bad years after 911, he was in the aircraft parts biz got outsourced 2x. I got sick and lost my job, then finally went on SSD, its not enough to replace my earned income but it is better than nothing.
I ll not list the whole thing but it was bad bad time. We are much closer, we
were close anyway.
Now several years later, we have adapted and managed to find a house with some land cheap.
We are finding we like living in the woods and and our garden put a large dent in our grocery bills. We are happy well adjusted(some may argue that!)
I know how hard it is for you now. It will get better. At that time it did not feel like it would ever get better. If it had not been for Second Harvest food bank we would have starved, I applied for food stamps and got a whole 8$ per month, and on top of it all I was very sick.
Some thing that might help is flours made with quinoa (keen'wa or amaranth, they are gluten free It is easy to digest.
cook similar to rice as a side dish and very nutritious.
merwin (1000+ posts) Thu Nov-27-08 02:03 AM
Response to Reply #15
20. My wife's unemployment is a whopping $130 a week.
Helps, but not enough to do any significant good. The worst part of the whole thing was having to take the mandatory bankruptcy classes, which you can now do online in a couple of hours. It's completely remedial and says stuff like "If you can't afford a new TV, don't buy it until you can". We don't have that problem, as we had already moved back to our small hometown an hour north of Seattle into a tiny little house, canceled cable, got rid of one of our cars (I ride my motorcycle now. Sucks in the winter). Only so much you can cut out.
After several years of living in the big city in a nice house, it took a while to get accustomed to small town life again.
Sirveri (901 posts) Thu Nov-27-08 12:37 AM
Response to Original message
19. I was in the same boat a month ago myself.
On the verge of cashing out my retirement, saw it drop from 10k to 7200. Thankfully the unemployment kicked in in time for us to make rent and my wife just found out she's getting a job. I'm still looking myself though, which really sucks.
leftofthedial (1000+ posts) Thu Nov-27-08 02:21 AM
Response to Original message
23. sorry for the financial loss
I'm happy for you and the wife. That's what matters.
I cashed out my life savings and spent the last of it on housing, food and insurance a couple of years ago.
barbtries (1000+ posts) Thu Nov-27-08 06:29 AM
Response to Original message
26. i'm sorry you had to go through so many hard times
just know you're not alone.
i filed bankruptcy in 1987 and still have no credit. drive a 1994 escort without a mortgage on it and moved to NC from CA (home, where i spent the first 52 years of my life and thought i would never leave) just to be able to afford to live. within a month of arriving here a year ago Oct 3, i was working at a terrific firm and now have the first 401K of my life! just in time for it to meltdown of course, but i never saw the money and my employer matches most of it.
looks to me as if you and your family represent one of the early waves. i think it is safe to say that it will get worse before it gets better. the thing to know is it will get better. and i am so happy for you that this has brought you and your wife closer, that makes ALL the difference.
I am really really bothered by this.
I mean, really bothered.
The Obamaites and the Obamaite primitives promised us thing would get better right away, right the minute the Big Zero took office, in a split second there would be milk and honey and free medical care for all and peace on earth.
And now they're hedging on their promise?
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You beat me to it. Was just getting ready to post this one. The woeful wizard is wrong on so many levels, but this really made me shake my head.
merwin (1000+ posts) Wed Nov-26-08 09:19 PM
Original message
I just had to cash out my 401k
It was that or not be able to pay the rent and health insurance.
The incredibly sucky part is that my 401k had gone down from $14,000 down to $8,700 in less than a year due to Bush's financial ****up. And because of the penalty for early withdrawal, I am only getting like $6,1000.
So this year I've been diagnosed with Celiac's disease, had to stop trying to have another kid because the fertility dr is $500/month for the artificial insemination that we need. I lost my job for a couple months at the beginning of the year and got a new one that pays less than half as much. My wife is currently out of a job (since the beginning of October). And when my wife does get a new job, it won't be working at home anymore, so my 2 year old will have to be in full time daycare. We had to declare bankruptcy (no-asset case, thank God).
I am officially ready to be DONE with this year.
The only saving grace has been Obama getting elected... I actually have hope that things are going to improve eventually.
The really amazing part is that all of this has brought my wife and I closer together.
Anyways, thanks for listening to my rant! Had to get it out
It sounds like the last thing that he needs is another child.
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It sounds like the last thing that he needs is another child.
Well, that's what I was kind of wondering myself.
Then I remembered, oh, these are primitives, who expect the village to raise children.
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i filed bankruptcy in 1987 and still have no credit. drive a 1994 escort without a mortgage on it and moved to NC from CA (home, where i spent the first 52 years of my life and thought i would never leave) just to be able to afford to live.
A mortgage on a 1994 Escort? Do they write mortgages for old crappy cars now?
:rotf:
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Cashing out your 401k just to pay rent is STUPID! There are other freaking ways to get that money. Throwing away your retirement fund especially with how stocks took a massive stumble the last couple of months just goes to show how stupid these people are.
And just once, I'd love for a DUmmie to explain how President Bush's policies put us here. No one ever does. They just blame it on him.
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Does being poor and ill drive them to liberalism or does liberalism cause the poverty and disease they all seem to suffer from? Every one of those loons seems to have some sob story. A sob story that will undoubtably cost you and me to somehow fix.
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Celiac Disease? The guy is complaining about being allergic to gluten? He has to make a few dietary changes. Walk down ANY baking aisle in any moderate sized grocery store and you'll see plenty of mixes, flours, etc. that are gluten free so you don't even have to eliminate a particular food group. It's not like he has cancer or anything.
If the guy is so desperate that he's cashing in a 401k wouldn't he have been better off holding off on the fertility treatments? $500 will pay my utilities and my cell phone bill. If he would've just held off on those treatments I'm sure the messiah would've made everything all better. Why, with a mere waive of his hand he could put a Free Community Fertility Clinic and Abortion Mill in communities all across this land. And as a bonus, such a public works project would put a lot of people to work.
Cindie
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Are there ANY of these stupid ****s that don't have chronic diseases or suffer from the inability to hold a normal job for longer than you or I could hold an icecube in hell?
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This DUchebag may not be so stupid. If the democra....socialists in power start talking about nationalizing 401's and IRA's I'll be taking out everything...no matter what it's status.
I'dr ather have some of it than none of it.
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Thank Heaven Merwin can still afford internet service, so he can tell DU his sob stories.
I love the priorities over there. :whatever:
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Cashing out your 401k just to pay rent is STUPID! There are other freaking ways to get that money. Throwing away your retirement fund especially with how stocks took a massive stumble the last couple of months just goes to show how stupid these people are.
And just once, I'd love for a DUmmie to explain how President Bush's policies put us here. No one ever does. They just blame it on him.
A $10K "nestegg" isn't going to go far anyway. Can anyone tell how old the O.P. primitive is? If in his/her 30s-50s then this was stupid (and a $10K 401(k) in the 50s is alarmingly low).
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A $10K "nestegg" isn't going to go far anyway. Can anyone tell how old the O.P. primitive is? If in his/her 30s-50s then this was stupid (and a $10K 401(k) in the 50s is alarmingly low).
I was wondering about the same thing. I have about $100k in my 401K and worry that it wont be nearly enuff even with another decade minimum left to work. Plus we are an employee owned company and eventually that should be worth something, lol.
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A $10K "nestegg" isn't going to go far anyway. Can anyone tell how old the O.P. primitive is? If in his/her 30s-50s then this was stupid (and a $10K 401(k) in the 50s is alarmingly low).
No kidding! I've only been working at my place of employment for 1 and a 1/2 years and I have over 8 grand!
How much is this loser puttin' away? $20 a payday?
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A $10K "nestegg" isn't going to go far anyway. Can anyone tell how old the O.P. primitive is? If in his/her 30s-50s then this was stupid (and a $10K 401(k) in the 50s is alarmingly low).
Thought the same thing and while not knowing any personal details it isn`t fair to make assumptions even with a DUmmy.
However since it is a DUmmy it is a fair guess that they have the minimum taken out to get the employer match which likely means 2% of gross/year...a fewhundred bucks at most.
Financial planning is not one of their strong suits either as they all seem to be over extended with debt.
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No kidding! I've only been working at my place of employment for 1 and a 1/2 years and I have over 8 grand!
How much is this loser puttin' away? $20 a payday?
I have been paying 6% of my income for about 4 years and only have about 12k in my 401k now.
The market dip hit me pretty hard. My account is down about 35% ytd.
Don't be too quick to judge those that can't afford what you can when it come to 401k plans.
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I have been paying 6% of my income for about 4 years and only have about 12k in my 401k now.
The market dip hit me pretty hard. My account is down about 35% ytd.
Don't be too quick to judge those that can't afford what you can when it come to 401k plans.
I put away 6% and it's around $33/week. I just started doing 6% this quarter, it was at 3%. *shrug* At least I'm putting something away.
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Not everyone can afford to contribute massive amounts to their 401k plans.
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Not everyone can afford to contribute massive amounts to their 401k plans.
Oh, I agree! That's what my post was meant to convey. I've been putting into the 401k at work for a couple of years and I can probably afford to be retired for two months right now. LOL! :)
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I was wondering about the same thing. I have about $100k in my 401K and worry that it wont be nearly enuff even with another decade minimum left to work. Plus we are an employee owned company and eventually that should be worth something, lol.
I retired 3 1/2 years ago and was in about the same situation as you with the 401k. My house was paid off but I had a car note and some credit card debt. Paid them off and now I am in better financial shape than I have ever been in. It is kinda scary not knowing if you have enough money to last you the rest of your life. The key I found is to be completely free of debt when you retire without dipping too heavily into your savings. Eliminating my spend thrift ways by buying a new car every two or three years has finally sunk into my thick skull. My 350Z is 5 1/2 year old and has 43k miles on it.
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I put away 6% and it's around $33/week. I just started doing 6% this quarter, it was at 3%. *shrug* At least I'm putting something away.
I blame me.
I had too much invested in meduim to high risk funds.
I waited too long to tranfer my investment options to more lower risk categories.
So I lost money.
It is what it is.
I won't be one asking for a bail out. I made the mistake.. It's mine to pay for.
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I blame me.
I had too much invested in meduim to high risk funds.
I waited too long to tranfer my investment options to more lower risk categories.
So I lost money.
It is what it is.
I won't be one asking for a bail out. I made the mistake.. It's mine to pay for.
I'm in more high risk and medium risk things. I lost money, but I don't fret over it. I'm only 28 and the stock market will go up and down many times before I retire. I'll move everything to "safer" things as I age.
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I'm in more high risk and medium risk things. I lost money, but I don't fret over it. I'm only 28 and the stock market will go up and down many times before I retire. I'll move everything to "safer" things as I age.
As you should. I've got a few years on you, and I feel the same for the most part.... But that 34.9% YTD loss on my 401k plan DID get my attention.
:cheersmate:
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My husband is the frugal one. He's always put the maximum into his 401(k) for a lot of years because the company matches up to some percentage. However, it has lost quite a bit of value obviously over the last year or so. But he's patient and always the optimist. He works for a large corporation so he gets stock options but those aren't worth anything right now.
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Not everyone can afford to contribute massive amounts to their 401k plans.
I agree completely! I'm 55 and have 2 other jobs, so I can afford it, but this guy sounds like he expects his boss or company to make his retirement for him!
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Does being poor and ill drive them to liberalism or does liberalism cause the poverty and disease they all seem to suffer from? Every one of those loons seems to have some sob story. A sob story that will undoubtably cost you and me to somehow fix.
Liberalism causes poverty because poverty is a mentality. Anybody can be rich and happy if they have a mind to but liberalism is for people who not only have no mind to be rich and happy but resent those who do.
Which goes along with liberalism being a mental disease. It really and truly is. No irony here.
It is a self-selected mental disease.
Luckily for those of us who do aspire to be wealthy and happy liberals are of little consequence.
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Thought the same thing and while not knowing any personal details it isn`t fair to make assumptions even with a DUmmy.
However since it is a DUmmy it is a fair guess that they have the minimum taken out to get the employer match which likely means 2% of gross/year...a fewhundred bucks at most.
Financial planning is not one of their strong suits either as they all seem to be over extended with debt.
Unfortunately this is where I'm at. Right now I just can't afford more than 1%. Because we did an addon to the house we were re ascessed which doubled our tax.......which the county failed to notify me of. That has raised my mortgage $100 a month. No biggie, eventually I'll catch up.......................if I keep my job. The sales are looking pretty bad right now...................I'm worried.