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UPS, are you asking for it?
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<blockquote data-quote="pretzel_man" data-source="post: 799637" data-attributes="member: 927"><p>Golden handcuffs are:</p><p>"The term “golden handcuffs” typically means some lucrative financial incentive to keep an executive or manager from leaving a company. Financial compensation is arranged in such a way to “handcuff” them to their particular job or company. "</p><p> </p><p>Saving enough money to afford to be out of work is a good thing. Not affording to be out of work is also considered a "golden handcuff". Your thought that a golden handcuff is related to a 401K is incorrect.</p><p> </p><p>401K's and IRA's are similar. According to the WSJ:</p><p>"While there are benefits and drawbacks to both options -- an IRA may offer more investment flexibility, for example, while a 401(k) can be easier to tap in an emergency -- a wrong decision can be costly, further eroding savings that already have taken a beating in the bear market."</p><p> </p><p>Not being able to affort $1 for charity? Well, that's a personal decision. I always gave to charity. I give a lot more now because I remember what it was like to be poor.</p><p> </p><p>Of course then there is a decision on whether to do a Roth or regular of each.</p></blockquote><p></p>
[QUOTE="pretzel_man, post: 799637, member: 927"] Golden handcuffs are: "The term “golden handcuffs” typically means some lucrative financial incentive to keep an executive or manager from leaving a company. Financial compensation is arranged in such a way to “handcuff” them to their particular job or company. " Saving enough money to afford to be out of work is a good thing. Not affording to be out of work is also considered a "golden handcuff". Your thought that a golden handcuff is related to a 401K is incorrect. 401K's and IRA's are similar. According to the WSJ: "While there are benefits and drawbacks to both options -- an IRA may offer more investment flexibility, for example, while a 401(k) can be easier to tap in an emergency -- a wrong decision can be costly, further eroding savings that already have taken a beating in the bear market." Not being able to affort $1 for charity? Well, that's a personal decision. I always gave to charity. I give a lot more now because I remember what it was like to be poor. Of course then there is a decision on whether to do a Roth or regular of each. [/QUOTE]
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UPS, are you asking for it?
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