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Old 04-12-2013, 10:20 AM   #1
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Retirement Savings Limit, Anyone?

So Obama wants to determine what constitutes a "reasonable amount of savings."

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In his latest budget proposal, President Obama wants to compel workers to enroll in a "voluntary" tax-deferred retirement savings account while simultaneously limiting those accounts to $3 million, CNS News reported Thursday.

According to the proposal, the amount set by the president is all the money “needed to fund reasonable levels of retirement saving.”
http://www.examiner.com/article/obam...-million-limit
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Old 04-12-2013, 10:27 AM   #2
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if I have a cool 3 mil by the time I'm 65...that's cool with me. Do I think big brother should tell me how much I can save for retirement? Nope. This is why the wife and I are taking steps now to secure our future retirement income (in addition to IRA's and 401k). There is no doubt in my mind the gov't will try and limit things (such as this latest budget proposal) so I suggest you diversify your assets/investments so they are not all in the same basket. Just my opinion.

My bro in law is a CFA...he contributes WAY more to his retirement funds (percetage wise) than we do I'm sure....I'm just not so confident all that projected money will be there when I retire. I guess you could say I'm not so optimistic.

Last edited by dbuck; 04-12-2013 at 10:30 AM.
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Old 04-12-2013, 10:28 AM   #3
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and that sonofabitch is worth how much now?
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Old 04-12-2013, 10:29 AM   #4
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You doing the 7 steps dbuck?
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Old 04-12-2013, 10:32 AM   #5
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and that sonofabitch is worth how much now?
Not to mention that he'd be exempt because his retirement is taxpayer funded and not voluntary contribution.
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Old 04-12-2013, 10:33 AM   #6
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You doing the 7 steps dbuck?
not sure what you mean by 7 steps? I'm doing things the "smart way" as I see it. Carry no debt, contribute a good chunk to tax deferred accounts and pay off home loan aggressively to buy more property....we're taking the real estate route.
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Old 04-12-2013, 10:34 AM   #7
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Not to mention that he'd be exempt because his retirement is taxpayer funded and not voluntary contribution.
kinda like the healthcare plan....good enough for everyone else, but not ME!!!!!!
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Old 04-12-2013, 10:40 AM   #8
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Obama could make good use of an afternoon by reading the constitution and finding out what his job and the authority of the federal government actually is.
I know he claims to be a christian and occasional church goer... but in truth i do not think he believes in , i think he believes he IS .
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Old 04-12-2013, 10:44 AM   #9
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Obama could make good use of an afternoon by reading the constitution and finding out what his job and the authority of the federal government actually is.
I know he claims to be a christian and occasional church goer... but in truth i do not think he believes in , i think he believes he IS .
Christians do not, have never, and will never name their kids Hussein, period.
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Old 04-12-2013, 11:04 AM   #10
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$3 mil sounds like a lot.... till you get 10 years down the road and inflation is so high that America does like some 3rd world countries have done and just lop a few zeros off the end of the currency so a snickers doesn't have a $1000.00 price tag....

Just sayin...
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Old 04-12-2013, 11:05 AM   #11
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Originally Posted by cedestech View Post
$3 mil sounds like a lot.... till you get 10 years down the road and inflation is so high that America does like some 3rd world countries have done and just lop a few zeros off the end of the currency so a snickers doesn't have a $1000.00 price tag....

Just sayin...
this is very true....another reason we are investing in real estate....rent goes up with inflation...as does the FMV of the property.
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Old 04-12-2013, 11:07 AM   #12
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Christians do not, have never, and will never name their kids Hussein, period.
He did not name himself that.
To my knowledge, neither of his parents claimed to be christian... and i also think that most christians believe that conversion is a personal thing that everyone is promised by to have an opportunity to do...no matter the opinion/faith/or origin of their parents. He calls himself a christian, i will leave that to be an issue between him and his ...my lack of confidence in his profession has no bearing on the issue.
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Old 04-12-2013, 09:29 PM   #13
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Quote:
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this is very true....another reason we are investing in real estate....rent goes up with inflation...as does the FMV of the property.
except you do not really own the land, the government owns it an just allows you to have a piece of paper that allows you to pay taxes on it.
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Old 04-12-2013, 09:31 PM   #14
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It's good to try and prepare for retirement but for some of us younger folks it may not matter. All the things Obama and his type are doing to this country will destroy it and the economy. Once hyperinflation hits and it all goes to , a couple million won't go anywhere. Payday is coming folks. There is no doubt we are headed to a socialist society. Just what Obama wants, how he was educated, what he believes in.

"We can learn from history that politicans often use an economic crisis to make their subjects more government dependent, and with that dependency comes more control." ...and "With expanded govenment control come the loss of liberty, and a loss of the work ethic." - Erwin Lutzer
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Old 04-12-2013, 09:33 PM   #15
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And the good ol' gubment will come to the rescue of the people........from the very thing it created.
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Old 04-12-2013, 09:43 PM   #16
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It's good to try and prepare for retirement but for some of us younger folks it may not matter. All the things Obama and his type are doing to this country will destroy it and the economy. Once hyperinflation hits and it all goes to , a couple million won't go anywhere. Payday is coming folks. There is no doubt we are headed to a socialist society. Just what Obama wants, how he was educated, what he believes in.
sooooo.....I should buy more motorcycles while I can still afford gas because my retirement is going to be anyway? got it, consider it done
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Old 04-12-2013, 11:21 PM   #17
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sooooo.....I should buy more motorcycles while I can still afford gas because my retirement is going to be anyway? got it, consider it done
Basicly. While most people who choose to be responsable for their own way in life believe a rising tide floats all ships, people unwilling to put forth effort or responsability for their own existance choose that we should all be stuck in the mud of low tide together....

At least that is what I took away from the elections in November.

Putting on my hip waders....
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Old 04-12-2013, 11:28 PM   #18
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Basicly. While most people who choose to be responsable for their own way in life believe a rising tide floats all ships, people unwilling to put forth effort or responsability for their own existance choose that we should all be stuck in the mud of low tide together....

At least that is what I took away from the elections in November.

Putting on my hip waders....
As a young adult I like to think I am preparing myself for the future in several ways while still enjoying all the dumbshit that comes with being young. This may be youthful optimism but I think I'll be just fine. I'm not struggling now and saving a good portion of what I make. You say you are investing in real estate. That is something I would like to get into, but more land and not so much housing....and not in texas
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