Are you fully vested? If not, you could be sued.

Vesting is when your employer contributes to your 401k plan. Your employer may contribute up to 50% in matching funds for every dollar you place into your 401k retirement plan. The catch to it is your employer can take back a portion of the fund depending on how long you have worked there. This amount is calculated on the vesting years required by your employer. With the recent collapse of the stock market layoffs are just around the corner. Your employer is entitled to that percentage regardless if you have loosed or gained in the stock market. Even if you move the plan to another employer. If the amount left in your 401k plan is less than your former employer’s share of the vesting amount you could be left with a bill. You will also have to pay 10% to the government, plus a %10 fee to the 401k provider if you withdraw the funds. To cover cost your former employer may hold your last paycheck while the suit is in progress.

Your 401k plan is not as safe as you may think; if the company you work for collapses they may confiscate the funds. An employer I worked for in Arkansas called Lindsey Software confiscated my 401k plan when I left. There was no vesting involved there. If you don’t believe this can happen to you talk to some former employees of a now defunct company called Enron.

Depression, we are in it!

There, I said it. If anyone has declared that we are in a depression, I did it first. If you want to know how, just look at how we got here the last time. In the 20s “The golden 20’s” as they called it, every one was investing in the stock market. Soon the stock market collapsed, the banks closed their doors, and stock portfolios disappeared. If you want to blame anyone you could blame the stock market, they did it last time, they did it this time. There is an old saying “Fool me once shame on you, fool me twice shame on me.” And another saying: “Those who forget history are destined to repeat it.”

I saw the 401k plan when it was first created. It took me two seconds to declare. This thing was created by our government to save the stock market, and to save social security. I never believed in it and never will. Those who run Wall Street are rich and are not there to give their money to you. They are there to take your money. If you thought for one second you could get rich in the stock market you are as dumb as your great grandparents where in the 1920s. Fear can also be blamed. In 1929 fear caused a run on the banks, and fear closed the doors. Today fear is doing the same. Fear is causing a selloff, and fear is causing another run on the banks. Big business has been pulling accounts from any banks that even remotely look unstable. Because the banks are federally insured they can’t close their door, which saves my personal accounts, but not the banks. They are collapsing one by one.

Who caused this fear? Well ask yourself. Who causes a war? I place part of that blame on the media, the old saying “the pen is mightier than the sword” They have placed fear on America, and the rest of the world. Everything from crime to the election. We can also blame our Government, who stole from the treasury and gave it to the rich, to the extreme, to the rest of the world. When will they learn our government was not set up as a charity basket for failing business, for the sick or the rest of the world. It was set up for one reason and no other. That is: “Our government was created to enforce laws and keep order in this country” Nothing else. But that did not happen; they handed the law over to vigilantes and stuck there nose in all of our business.

Since we can say the government of the U.S. was setup by the people, for the people, if you want to know who is really at fault. Go look in the mirror.