Rich Customers Pull Money From Banks Offering Paltry Interest Rates

[in2herbs]

4. Last I read the average 401k was $140,000. Leaving it in a 401k it will be subject to stock market

losses but investment costs as well. IMO when 401ks get below a certain level the owner of the 401k should be able to withdraw and close the IRA without penalty. Placing that $$ in a savings account for use to pay for house repairs, medical expenses, etc., as the owner deems fit.

As a woman, the thing I hate most about my 401k and IRAs is that I have to ask my financial advisor for money, when I'm the one who earned that money!!! Luckily withdrawals are not necessary to live on.

My 401k and IRAs have lost almost $1million in the past 14 months due to stock market fluctuations. At my age there is likely not enough years left in my life to recoup that amount, especially since more stock market loss is expected.

Don't tell me that 401ks and IRAs are not a ponzi scheme created by Congress for their Wall Street donors. If it isn't why won't Congress allow people to handle their own retirement accounts??