Workers break retirement piggy bank in tight times

Jul 16, 2008 | Posted by: Iria | Full story: news.yahoo.com

Americans are raiding their already fragile retirement piggy banks to weather financial hardships such as unemployment, medical emergencies and buying a home.

Comments
1 - 16 of 16 Comments Last updated Jul 17, 2008
OWWW

Bronx, NY

#1 Jul 16, 2008
Part of thr neo-conservative -"religious right" plan to bankrupt and eliminate the American middle class.

When Bush says 'all is going well,' he really, really means it. On course to 1919.

Since: May 08

Marrero, Louisiana

#2 Jul 16, 2008
I broke the hell out of mine a few years ago!

“Did They Really?”

Since: Jul 08

Los Angeles

#3 Jul 16, 2008
Spend your dollars while they are still worth something.

“Rather B Sail'n”

Since: Jun 08

San Francisco

#4 Jul 16, 2008
There’s no conspiracy here, we predictably do it to our selves. Do you think that the house you live in is worth its appraised value or the car you drive and have not paid for is actually getting you where you want to be by working to pay down your decision to increase your personal debt beyond your available cash position? As long as there is someone somewhere in the world that is willing to take less by believing they are getting more the circle jerk continues. In a capital based society resources drive the economy when resources regress ergo the economy. Global resources are unevenly distributed. This off balance situation historically always results in war. Wars literally break things up and redistribute resources. Before America admits to a depression we will be at war. History proves this out.

“Smart@ss”

Since: Dec 07

Location hidden

#5 Jul 16, 2008
Thoreauing wrote:
There’s no conspiracy here, we predictably do it to our selves. Do you think that the house you live in is worth its appraised value or the car you drive and have not paid for is actually getting you where you want to be by working to pay down your decision to increase your personal debt beyond your available cash position? As long as there is someone somewhere in the world that is willing to take less by believing they are getting more the circle jerk continues. In a capital based society resources drive the economy when resources regress ergo the economy. Global resources are unevenly distributed. This off balance situation historically always results in war. Wars literally break things up and redistribute resources. Before America admits to a depression we will be at war. History proves this out.
That might just happen.

Since: May 08

Marrero, Louisiana

#6 Jul 16, 2008
Thoreauing wrote:
There’s no conspiracy here, we predictably do it to our selves. Do you think that the house you live in is worth its appraised value or the car you drive and have not paid for is actually getting you where you want to be by working to pay down your decision to increase your personal debt beyond your available cash position? As long as there is someone somewhere in the world that is willing to take less by believing they are getting more the circle jerk continues. In a capital based society resources drive the economy when resources regress ergo the economy. Global resources are unevenly distributed. This off balance situation historically always results in war. Wars literally break things up and redistribute resources. Before America admits to a depression we will be at war. History proves this out.
Not that alot of them aren't asking for it either.
john k

Hoboken, NJ

#8 Jul 16, 2008
not me!

“Dropped on head as child”

Since: Dec 06

Athens, Ga

#9 Jul 16, 2008
Chimpy Bush = Herbert Hoover.

Both Repukes ran the economy into a ditch while on a drunken joy-ride.

“Iblis-ak-bar & mo his prophet”

Since: Mar 07

Mt Clemens, MI

#10 Jul 16, 2008
If you are going down, why open the only large amount of money that is bankrupt proof? If you are doing this, it is very silly.
JCD

Since: Jan 08

Location hidden

#11 Jul 16, 2008
My 401k surged 25% this year.
JCD

Since: Jan 08

Location hidden

#12 Jul 16, 2008
A fool and his money are soon parted. Your money left you a long time ago eh?

x
OWWW wrote:
Part of thr neo-conservative -"religious right" plan to bankrupt and eliminate the American middle class.
When Bush says 'all is going well,' he really, really means it. On course to 1919.

Since: Apr 08

Location hidden

#13 Jul 16, 2008
Money is a hygenic consderation. Cant afford healtcare? Get a Greyhound bus to Mexico city. Change your i.d. to Juan Gonzalez ( thier cheap there about 50 bucks cash)....sneak back across the border usinig your american I.D...lol then show up at any emergency room with you illegal i.d.

See? paying health care insurance is folly in light of its being free.
OWWW

Bronx, NY

#14 Jul 17, 2008
JCD wrote:
A fool and his money are soon parted. Your money left you a long time ago eh?
x
<quoted text>
I would not be surprised if I lost more money in investments since 2000 than you will ever have.

In spite of your posturing, Bush's economic performance has been dismal. Unless you have abandoned the US market, your divesified portfolio is 'way down, if you even have one.

“Did They Really?”

Since: Jul 08

Los Angeles

#15 Jul 17, 2008
JCD wrote:
My 401k surged 25% this year.
And then sank 30% in the last six weeks if invested in the US stock market. Meanwhile, inflation continues.

“ Sexy Smart and Sayin Stuff!”

Since: Jul 08

Park Forest, IL

#16 Jul 17, 2008
I fell into bad times, and cashed in my retirement and my mutual funds..ended up living off them.. then later became homeless.. I have never been able to recoup my losses. My downfall is permanent and not recoverable 10 years later. Ive got nothing to live on, I AM INDIGENT..
Hello. I once made $50,000 a year.. now Im poor at $12,000.. its a sin! DONT CASH IN YOUR RETIREMENT~
JCD

Since: Jan 08

Location hidden

#18 Jul 17, 2008
Nope, I have tens of thousands of more dollars now than I did back in January. Research is your friend. T. Rowe Price, New Era Fund.

x
DavidInLA wrote:
<quoted text>
And then sank 30% in the last six weeks if invested in the US stock market. Meanwhile, inflation continues.

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