Comments on: Daily Links: One Equals Two Edition

By: Ben

Ben — Tue, 22 Jan 2008 17:24:53 +0000

Thanks for the mention! I agree with Jeremy, 401k debit cards seem to be a horrible idea. The point of a 401k is that you put money in early so your investment will grow during your working years and be there for you when you’re older and your earning potential is down or you’re not able to work. Taking money out of a 401k is a short sighted move in my opinion.

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By: Traciatim

Traciatim — Tue, 22 Jan 2008 11:53:00 +0000

Only -5? Wow, yesterday where I live it was -20C and today I woke up to -16C. Yesterday the wind chill brought the ‘feels like’ temperature to -31C. Today there isn’t much wind so it will feel much warmer.

Though I’m in Canada and we don’t have 401K’s, we do have RRSPs. They kind of have similar rules, and I could see in my company if people had easy access to their funds they would use them all the time. I in fact used mine just to get the company match, and the tax rebate in order to speed the purchase of a house. It was drained, but now it’s growing again and I’m only 28, so I have many years to contribute. Plus statistics say I’m still way ahead of the pack even if I started over at 28.

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By: Jeremy

Jeremy — Tue, 22 Jan 2008 04:47:48 +0000

Thanks for the mention, J.D.

The number of 401k/403b loans I process on a weekly basis is already sickening, so I couldn’t imagine the effect of giving people the ease of access that a debit card offers.

What’s next, people can get advances on their Social Security income?

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