ST Alpha - "Thanks for the caps. Don't think of it so much as your retirement money, not to be touched. Think of it as your money. Period. -- nm" (Reading a Post)

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In response to "IT'S YOUR RETIREMENT MONEY. it's not for 'cashing in', there are other ways to invest your money that you CAN cash out if you need them. -- nm" by Andie - 41 shopping days till X-mas

Thanks for the caps. Don't think of it so much as your retirement money, not to be touched. Think of it as your money. Period. -- nm

Posted by Loyola Nov 13 '08, 10:01

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i don't even have a 401(K), because i'm Canadian, but i'm smart enough to know why they are a good thing for Americans. -- nm - Andie - 41 shopping days till X-mas Nov 13, 10:04
If that's you're thinking, you're putting your money in the wrong place. You should be buying regular investments, not 401k. A 401k is configured to - oblique Nov 13, 10:04
Who says we don't? I know it's my money, and I choose to keep it in a 401(k). Is that acceptable to you? - Mr. Havens Nov 13, 10:03 17
- It's not a question of it being acceptable to me. you do whatever you want with your money, it's your baby. -- nm - Loyola Nov 13, 10:04 16
  - I'm curious. What type of retirement benefits does the Irish government provide? - znufrii Nov 13, 10:07 11
    - I believe the Irish have the same kind of thing as a 401(k) but there it's called a Personal Retirement Savings Account -- (link) - Mr. Havens Nov 13, 10:10 1
      - interesting, thanks! -- nm - znufrii Nov 13, 10:13
    - Nothing like yours. Although there's talk of some compulsory scheme coming down the line. -- nm - Loyola Nov 13, 10:09 8
      - I see. so basically, you're on your own when it comes to retiring? fair enough. - znufrii Nov 13, 10:11 5
        
        Well unless you go for a private pension, under the public scheme you get about $240 a week non contributory, and around $300 contributory. -- nm - Loyola Nov 13, 10:16
        
        also, how prevalent are company pensions, still? -- nm - znufrii Nov 13, 10:14 3
        
        I would estimate they're dropping in prevalence. -- nm - Loyola Nov 13, 10:17 2
        
        I know they have been in decline here, for quite some time, as companies opt into offering 401(k) plans instead. -- nm - znufrii Nov 13, 10:21
        
        Couldn't be sure though, might look it up as a matter of interest. -- nm - Loyola Nov 13, 10:18
      - so, what do you have? -- nm - Andie - 41 shopping days till X-mas Nov 13, 10:09 1
        
        Contributory, and non contributory schemes under the umbrella of PRSI but defined so as not to pass 4% I think at the moment of gross taxable salary. - Loyola Nov 13, 10:12
  - So why are you getting your panties in a bunch over it? I'm not the one who has a problem with it - Mr. Havens Nov 13, 10:05 3
    - I think you missed my tone. -- nm - Loyola Nov 13, 10:09 2
      - If that is the case, then you presented your side very weakly - Mr. Havens Nov 13, 10:10 1
        
        :) gee thanks -- nm - Loyola Nov 13, 10:13

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