What’s This All About?
I’ll tell you, it’s about freedom, that’s right freedom to lose my money the way I see fit.
I, like millions of people were sold a big bill of goods some years ago when the government introduced the 401K retirement savings plan. I fell for it like many others.
It was the fear of our social security system failing that led me to “take action” for my retirement. I say fear because that is just what it was. The hype initiated by the government and hammered by the media, put me into a frame of mind that, I could be left without anything come retirement time. I started my 401K late but I thought it was better than none at all.
The idea of tax deferred really wasn’t that important to me and the 10% early withdrawal penalty was so understated that I gave it little thought.
Well, now that a new crisis is being hammered on us, causing the stock market to all but evaporate the money that I and my employers contributed to the 401K, I have decided to take matters into my own hands. I stopped the bleeding. Well not completely because I will still have to pay taxes on the money that I saved and I am sure the IRS will attempt, possibly successfully, to collect a 10% penalty against me because I saved my money from complete evaporation. I will not go down easy on the penalty. In a situation where I have had almost zero control, I have paid my penalty by nearly 6000% and if the hungry IRS dogs try to take another 10% of the little that is left, they will be opening up a can of worms.
This blog will be of my adventure. I will publish each of the steps that I have taken as well as how well I am doing at losing my money.
If anyone decides to read and follow this, I hope you can learn from my mistakes and hopefully successes. Comments are greatly welcomed so please feel free to communicate.
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CURRENT GOLD AND SILVER BULLION PRICES
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Trend Graph of 1 oz Buffalo Gold Coins sold on eBay
Updated on November 25, 2009
As A Comparison To The Spot Gold Bullion Prices
Updated November 25, 2009 Pre-Close
