And you thought you had it bad

[Capricious]

Oh, this sounds like a good idea:

http://online.wsj.com/public/article/SB119162722016150793.html



"...Despite potential tax and investment consequences, more individuals have been borrowing from their 401(k) plans or taking hardship withdrawals in recent months, some retirement-plan providers say.

Not all plans have seen jumps, and more-comprehensive statistics won't be available until next year. But a number of plan providers that follow month-to-month patterns, including T. Rowe Price Group Inc., Hewitt Associates and Hartford Financial Services Group Inc., have seen a small but noticeable uptick..."

 

[scooterbug44]

What happens when they don't pay that 401k money back w/ interest? :roll:

 

[SHELLY]

Their "justification" for their addition (to a mobile home no less) was lack of space, yet they then had room for a pool table in their cramped abode :funn:.


If you can't write a non-bouncing check for it and it's not necessary for your survival, YOU DON'T NEED IT!

I'd be in a "credit crunch" too, if I was buying TVs, pool tables, furniture I couldn't afford!

The addition was to their new colonial-style home, not the mobile home. (Apparently the home had GCT and SS already in place. :roll


.

 

[Capricious]

What happens when they don't pay that 401k money back w/ interest? :roll:

They can not retire and instead work right up until the day they
die, continuing to bolster the Social Security trust fund and ensuring
that I will have Social Security to collect.

See?

A silver lining to every gray cloud

 

[seaside2]

Like I said before, live like you make 50% of what you do. Then these things won't happen.

 

[scooterbug44]

50% is currently beyond my reach, but a great savings tool is to have a fixed percentage of your paycheck automatically sent to a savings account.

You don't have to think about saving it and don't think to spend it because it is never part of your checking account balance. Adds up fast, depending on your salary and the percentage, you can have saved a couple grand by the end of the year - plus interest!

 

[SHELLY]

50% is currently beyond my reach, but a great savings tool is to have a fixed percentage of your paycheck automatically sent to a savings account.

You don't have to think about saving it and don't think to spend it because it is never part of your checking account balance. Adds up fast, depending on your salary and the percentage, you can have saved a couple grand by the end of the year - plus interest!

:scratch: Saving money....that's an interesting new concept.


.

 

[greenstreet]

Have no fear, Duncans! Hillary will soon ensure that we passive taxpayers make you whole because of the scurrilous ways you have been taken advantage of by the greed of the financial system!

(enjoy that pool table)

 

[SHELLY]

Have no fear, Duncans! Hillary will soon ensure that we passive taxpayers make you whole because of the scurrilous ways you have been taken advantage of by the greed of the financial system!

(enjoy that pool table)

I think the "Bush Gang" is trying to beat her to it:


Paulson Urges Action on Housing Crisis
Tuesday October 16, 11:50 am ET
By Martin Crutsinger, AP Economics Writer
Paulson: Aggressive Action Needed for Housing Crisis, Which Is 'Significant Risk' to Economy


WASHINGTON (AP) -- Treasury Secretary Henry Paulson called Tuesday for an aggressive response to deal with an unfolding housing crisis that he said presents a significant risk to the economy.

In the administration's most detailed reaction to the steepest housing slump in 16 years, Paulson said that government and the financial industry should provide immediate help for homeowners trying to refinance current mortgages before they reset at much higher rates.

In his most somber assessment of the crisis to date, Paulson said that the housing correction is "not ending as quickly" as it had appeared it would and that "it now looks like it will continue to adversely impact our economy, our capital markets and many homeowners for some time yet."

Paulson spoke a day after officials from the nation's three biggest banks announced the creation of a fund with up to $100 billion in resources to buy troubled assets such as mortgage-backed securities.


--------------------------

:roll: This economy is sooo screwed.

 

[Capricious]

I know what kind of "aggresive response" we'll get out of Bush.

Just like the katrina Response.

"You're doing a heck of a job, Brownie"
W


Which is just as well.