Comments on: Obama’s Economic Rescue Plan Would Allow Penalty-Free Withdrawals up to $10,000 This Year and Next From Retirement Accounts

By: joseph

joseph — Wed, 21 Oct 2009 18:40:04 +0000

I don’t know about all these politicians. They have jobs. I am unemployed. When this unemployment runs out I don’t know what I will do. They say it’s getting better but I don’t see it. In my state the cuts are going crazy. If I have to wait, I will be out on the street. We have 3,000 carpenters on the bench (out of work), That’s out of just over 5,000 carpenters. I don’t see any sign of an improvment at all. Where do they come off telling us about surviving when they have jobs, and BENEFITS. They don’t have a clue what is going on for regular people like us. At least give us a way to get through these hard times. These politicians have jobs, they have benefits, they can support their families, and they don’t even know how much a loaf of bread or a gallon of milk is!! This is the first time I have not had even a chance of getting a job!! Getting to take out $10,000 out of my 401k without any penalty would really help me to get through what you call tough times that I call impossible times. FAMILY FIRST!! Aloha Joseph

By: jackie

jackie — Fri, 09 Oct 2009 18:01:58 +0000

it doesn’t exist, bummers

By: jackie

jackie — Tue, 06 Oct 2009 08:24:28 +0000

i think it’s a great idea, my husband & I work, we have 5 kids altogether, we have a mortgage, child support for 2 kids, etc. struggling to pay a little more than the balance due on our mortgage & credit card each month, will make the call tomorrow and get started.

By: mark

mark — Mon, 14 Sep 2009 01:49:45 +0000

Why not let me take $10,000.00 out of my retirement.My money has been invested and lost by people who only have their best interests at heart.Let me take some money out and buy some real estate or invest it myself.Real estate is a much safer and lucrative investment than letting the “professionals” have it.They have shown me what they can do.It’s my turn.

By: steve

steve — Thu, 09 Apr 2009 06:36:15 +0000

obama should get legislation passed to allow people with 401k or irs who have lost their ass to be allowed to withdraw any or the full amount of what is left in their account to pay off some or all of their debt as times are tough for all us joe six packs and this would be a solution to get our financial things in order, if he can bail out wall street and the financial markets he can surely do the same for the people who elected him.also pelosi and reed have got to go,oh pay no taxes on withdrawels of any amount

By: Karen

Karen — Tue, 07 Apr 2009 02:58:43 +0000

My husband got hurt on the job a year ago very badly. He is still undergoing treatment, has possible future surgeries and his knee, hip and back will never be the same!! His company has just terminated him using a loop hole to union contract; union is trying to fight it. In the meantime, my family will now incur COBRA, worker’s comp. may end soon, which is 40% less of his former salary…future is very bleak! Our daughter is a sophomore in high school and with impending expenses and college just around the corner, we are really starting to get worried. I am working and we are just a normal family with no frills and we could sure use the money to pay impending insurance payments, mortgage payments, etc. My prayer is that a solution is found for all the unemployed families that are hurting!! Quick question: why did we let someone make rules for: when we could have OUR money, at what age, how much and if we wanted it earlier, we would get penalized to get OUR OWN MONEY? Plus, now, our 401(k) and IRA’s have lost money and we are at a key time when we cannot make it back…. Thanks for listening!!

By: Chip Gieger

Chip Gieger — Wed, 25 Mar 2009 13:59:16 +0000

I wanted the opportunity to get the money because it would help my family get in a much better financial situation. The money I have in this account has lost tremendously and I could put it to better use. I have another retirement account due to career change and I would not be hurting my retirement plans.

By: Christina

Christina — Fri, 20 Mar 2009 14:29:33 +0000

I just lost my job due to cut-backs, so lifting the penalty on using money from my IRA may just keep me from losing my house & car. Put yourself in the shoes of us that have lost jobs and trust me, it could really help out.

By: Andre

Andre — Thu, 05 Mar 2009 16:59:12 +0000

I work as a union electrician, however since my local is in the most racist city in america, black men are always the first to be laided off. If you are a white man and work 45 yrs you will retire with about 38 credits thats equats to a retirement of about 2300 per month. If you are a black man and do 45 yrs you will be lucky to get 18 credits or 1080 per month. I have watched my friends loose their homes and cars, while they have over $100,000 in their annuities. Why should anyone have to beg the government or the Union for their own money. The whole wall street system is a racket, i pray for jail time for these white collar criminals. If you stole 1 dime for any reason the police state would be all over you. We have witnessed the biggest theft in the history of the world and knowone is going to jail, but i seen a black guy get 25 yrs in prison for stealing 1 can of spam. Is that twisted or what which theft was more egregious?

By: Vince

Vince — Sat, 28 Feb 2009 19:18:52 +0000

While everyone talks about the taxes on the 401k withdrawal, how is it possible to tax, tax deferred income when that income has taken losses in excess of 50%. Why then can I not claim my losses in my 401K, if it is so damned wonderful, when now it is bleeding like a sieve. I don’t see the government stepping in and propping up my hard earned dollars to at least keep me at a level where I can at least have what I actually put into the plan. and simply have a 0% gain. All you friggin wizards of financial smarts have no idea how to save our retirement plans, and you certainly have no idea how to rescue our economy. We are giving hundreds of billions of dollars to the same financial jerks that screwed us in the first place and then most of you have the nerve to tell us that we don’t know what we are doing? The whole financial community should be tried for treason, starting with out government.