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When did you start 401k and what's your balance
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<blockquote data-quote="Ms.PacMan" data-source="post: 1104310" data-attributes="member: 4656"><p>I don't believe you. You said you are invested in muni bonds and dividend stocks in an earlier post on another thread. Both have some pretty steep tax consequences for selling at the wrong time. You might want to add a financial/investing disclaimer at the bottom of your posts also for people who misguidedly respect what you say and don't realize it's only an attempt to manipulate them into your political views.</p><p></p><p>For those of you who don't know - municipal bonds must be held until maturity or they are not tax free and dividends from dividend stocks must be purchased by the ex-dividend date prior to the actual payment of the dividend and then held 60 days after the dividend is issued for the dividend to be consided "qualified" and taxed at a cheaper rate (0% for the 10-15% tax bracket). </p><p></p><p>The 401k "tax" would not really be a tax on 401k's but rather less of a tax break on monies put into 401k's (currently traditional 401k contributions, up to $17,500, are subtracted from your income and wages on the W-2 and not declared or taxed on your tax return). I hope congress never changes this.</p><p></p><p>The fear mongering in the media and unregulated wall street is not helping to solve the crisis of people not saving for retirement and there will be a crisis if millions of seniors end up on welfare and the solution will not be to let them starve but to increase taxes to pay for them.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 1104310, member: 4656"] I don't believe you. You said you are invested in muni bonds and dividend stocks in an earlier post on another thread. Both have some pretty steep tax consequences for selling at the wrong time. You might want to add a financial/investing disclaimer at the bottom of your posts also for people who misguidedly respect what you say and don't realize it's only an attempt to manipulate them into your political views. For those of you who don't know - municipal bonds must be held until maturity or they are not tax free and dividends from dividend stocks must be purchased by the ex-dividend date prior to the actual payment of the dividend and then held 60 days after the dividend is issued for the dividend to be consided "qualified" and taxed at a cheaper rate (0% for the 10-15% tax bracket). The 401k "tax" would not really be a tax on 401k's but rather less of a tax break on monies put into 401k's (currently traditional 401k contributions, up to $17,500, are subtracted from your income and wages on the W-2 and not declared or taxed on your tax return). I hope congress never changes this. The fear mongering in the media and unregulated wall street is not helping to solve the crisis of people not saving for retirement and there will be a crisis if millions of seniors end up on welfare and the solution will not be to let them starve but to increase taxes to pay for them. [/QUOTE]
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When did you start 401k and what's your balance
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