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7 comments:
I do not think he gets invited back on CNBC after trashing Krammer.
But why he is against 401k's without better explanation is just stupid. 8 years ago my wife worked for a firm with a horrible 401k with excessive fees and bad choices. By my evaluation it still made more sense to put money in the 401k over the short run and transfer it to an ira a few years latter.
Paying the taxes was a worse choice than getting screwed by the 401k fees.
I understand the tax code can change in the future and that is why I am against roth ira conversions, but 401k and traditional ira's still seem like good bets
w/o a better explanation? i don't think he had the chance after bashing Jim. My hunch is his point is about poor and limited choices.
"I understand the tax code can change in the future and that is why I am against roth ira.."
anon 6:58 please explain...
as alot of wealthy people
will be flipping into Roths
over the next few years.
Good flipping while the market
is down...
If our only choices were Bogle vs. Kramer, goddess help us all.
Is this how intellectually bankrupt CNBC is?
Thanks for the funny clip, Roger.
I have read several articles over the years by accountants that explain how they can either simply change the law and tax roths or make your roth money count in some other way to significantly increase your taxes. I think one article the accountant listed 10 different ways to change the rules and make you pay additional taxes from your roth.
Since they are running up trillion dollar deficits you better believe they will want to tax anyone with any funds any where in the future.
BTW, you still don't believe everyone is going to get social security benefits in the future do you? The fact you paid into the system will make no difference the supreme court has already ruled on that 10 to 20 years ago.
I only watch CNBC daytime if I go home for lunch.
I have starved myself in order to take my lunch at 2pm here when Erin Burnett's show comes on - that's how much I dislike Power Lunch. It's like cnbc's answer to The View or Cold Pizza.
Obviously I've been bottling my anger about Power Lunch, thanks for providing this space to vent.
401Ks are a fine way to save, but a poor way to invest. Choices and investor decisions provide for terrible results. But, at least we can "borrow" out against our remaining balances with a debit card. And, luckily the companies are pulling back on the their matching.
For CNBC to say that Cramer is only about trading is not correct. Once he got his show he has been about both short and long term investing. The "am I diversified" portion of his show is for investors not trading, as an example.
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