Way off topic

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Robatoy wrote:

That'll make the value of your automatic weapons increase!
I predicted back in April that the GOP will pick up nigh on 200 seats - in addition to what they already have - and each week edges closer to that goal.
For example, just today the Cook Political Report issued this update:
CA-47 Loretta Sanchez Likely D to Lean D FL-02 Allen Boyd Lean D to Toss Up GA-08 Jim Marshall Likely D to Toss Up IA-03 Leonard Boswell Lean D to Toss Up IL-11 Debbie Halvorson Lean D to Toss Up OH-16 John Boccieri Lean D to Toss Up PA-08 Patrick Murphy Lean D to Toss Up PA-10 Chris Carney Likely D to Lean D SD-AL Stephanie Herseth Sandlin Lean D to Toss Up TN-04 Lincoln Davis Likely D to Lean D
That is, take a bunch of seats and move 'em one notch to the right.
But I worry. In 1994, the GOP took over Congress and straightened out the mess. Clinton got credit for the resulting booming economy and got re-elected.
It could happen again.
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On Wed, 18 Aug 2010 15:37:26 -0700 (PDT), Robatoy

Ya mean they should -expend- the fresh ammo there? That's an investment you can take to the bank!
-- We're all here because we're not all there.
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That money can simply be rolled into an IRA you pay no tax initially.
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There is no penalty, that I know of, for a lump-sum distribution from a retirement plan. I had that option a few years ago (retirement #1 - I was 54). The numbers didn't add up though. I would have had to guarantee 10%, at least, to break even over the annuitized retirement. Taxes on the lump would have had to have been paid, of course.
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snipped-for-privacy@gmail.com wrote: ...

The question wasn't posed of a qualified fully-funded retirement plan but for a 401k. Retirement plans are different animuhls entirely.
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The two are getting intertwined here. The question about a "lump-sum" distribution implied a qualified retirement plan, at least to me. Of course a 401K can be taken out in a lump. It's your money.
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snipped-for-privacy@gmail.com wrote:

Actually, looking back I see I did miss one part -- the posting I replied to was (attributes were lost earlier)

My response was directed to the 401k portion and I missed the latter portion of the first quote after the "or".
My response did, in fact, agree that one can withdraw 401k monies early in lump sum, only noted that there are potentially seriously economic consequences of doing so prior to reaching age 59-1/2.
This is _so_ OT, I'm retiring (so to speak :) ) from further watching this thread...
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The retirement "plan" is certainly affected by the stock market. My retirement check is not.
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knuttle wrote:

Well, it would seem the the wrek is _way_ off any economics-related ng's; would seem logical to find one there instead for such queries...
I never heard of it; the posted link simply brought up a google chart for today's DJIA so don't know what you were looking at...
But, from the homepage it simply looks like a front for posting links/articles culled from other resources.
Don't have much interest in such apparently mindless 'bots posting links to everything they can crawl over...I use either the Morningstar or Marketwatch sites for routine info on what's happening daily but I don't obsess on short-term volatility.
Age and time in the market are essentially everything; unless you're day-trading or otherwise in a timing short-term deal it doesn't really matter much what happens day-to-day; all one might do is perhaps make some adjustments on watershed events -- I moved into other areas a high fraction of stocks/mutual funds after the first of the major financial failures simply because it was clear there was going to be a severe emotion-induced selloff at the least. I didn't expect the collapse any more than anybody else but certainly knew the reaction would be to cause a pretty significant pullback in the markets and there wasn't any sense in riding them down. I'm most back at the present w/ the runup--again, I didn't foresee just when the bottom really was but had a feeling that the panic had eased 12-18 months ago and started to re-enter the same places I had previously but back with a lower average cost basis than before. I don't have time (or, more accurately, don't want to take the time) required to watch or try to select individual stocks so that stay almost exclusively in mutuals except for a few no-brainers and a couple of mostly sentimental picks like former employer(s), etc.
Since most is in an IRA, there are no tax consequences to color the decisions; I haven't made an active trade outside the IRA funds in 15 years; I simply select what appear in my view to be reasonable mixes that are relatively low volatility but perform reasonably well in tracking the broader markets. While at traditional retirement age, am in good health so figure still have a pretty long time horizon to deal with in all likelihood. W/ that perspective, don't think one can afford to _not_ be in the markets w/ prudence.
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