I just came across this article about Obama’s proposed changes to 401k plan. I am wondering when Obama will enact his proposed changes into law. Like Pinyo, I am wondering if this will help or hurt our economy and finances. There are a lot of good points made by his readers about this will be very helpful for some people, particularly the ones that are deep in debt and paying a lot of interest. Hopefully, this will works out for the better.
In any case, I am glad that he’s in the office now.
2 responses so far ↓
1
james a wilson
// Jan 27, 2009 at 1:47 pm
Can you tell me when this plan will be enact. I would be the one that will payoff high credit card that company increase the interest on just to make more money off of the people that pay their bill.
If you got a card with 8% and now 15% because the credit co. change the due date this would be good thing.
You can always add money back to your 401k that you was paying on the credit card and come out better in the long run
2
budgetary
// Jan 27, 2009 at 1:56 pm
James, welcome to my blog. You’re the first commenter! Unfortunately, no prize.
Yeah, I’d like to know when it will become law too, but I guess all we can do is wait and see.
Yes, you can always add the money back, but the amount that you take out will be gone from the 401k for good.
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