I'm no financial guru as my bank account can attest. I've wasted more money than I care to admit. I'm not an "investor" nor do I have any desire to be a part time investor. If I'm willing to put some savings somewhere I would hope that I will get some kind of return on those savings...without me constantly worrying that I could be wiped out in the blink of an eye. Back in the good old days, you know, about 5 years ago I lost about 15k. Why? Because I'm not "savvy". Because I'm too lazy. And because Wall Street decided to fuck everyone when they decided to call in their bets (or the other way around). Or however you want to look at it. All of us "commoners" got fucked while some folks became very rich. Very very rich.
Being able to have money drawn against your paycheck every week seemed like a good idea at the time when we were offered a 401k. Out of sight, out of mind, no worries. Diversify and let it ride. No problem! After all, in the long run I'd get about 8% on my return! Who could argue with that? Who wants a crappy savings account that only offers .00000000001% return? Join the modern era and get rich! Retire and live the good life!
What. A. Crock. Of. Shit.
And when the shit hit the fan? 2k here, 3k there. How can this be happening? Down down down it went until I moved everything to avoid the daily blood bath. That was when I was 44. I can only imagine what the folks went through that were "ready" to retire. Even in the "safer" stuff these folks must have been contemplating suicide. A life time of savings and then? Wiped out or very nearly. A life time of planning erased, not due to their own greed, but to that of others. And those "others"? Well they are doing just fine as it turns out. Somehow, miraculously even, they weathered the storm and today they have even more money in the bank. Golly. Who would of thunk it?
Some very rich folks that pull the strings it turns out. That's who thunk it...but I digress.
So, on to my question of how do I "move" the money in my 401k. Barring me becoming unemployed is there any way I can move what I have without losing upwards of 40% of what is mine? It is supposed to be for MY retirement. I don't care if I can't touch it until those golden years come around, that's not what I want. What I do care about is making it so it can't be touched by those addicted to gambling and making a fast buck off of money I've earned and saved and I'm entitled to. You know, because it's MINE. Kind of like Social Security. How can I take it out of the casino and make it safe? Relatively safe that is...
Trying to google financial information regarding 401k's is a festival or "where and how much" to invest but nothing on the legalities and rights we "may" have regarding them. I just want to move my money as I have no faith in this wonderful thing called a 401k and how it seemingly can be stolen from me without any recourse. Dare I say millions of Americans may be wondering the same thing?