401k and other retirement plans: have you raided yours yet?

[Josquius]

When I leave Japan I have the option of either transferring my pension payments to the UK or claiming them back.
Of course I'm going to take the money. What are the odds of me living long enough to claim a pension? What are the odds of it still being in any way relevant 40 years down the line anyway?

[Ed Anger]

That's the ticket. Andy Capp needs booze money.

[Monoriu]

No, I don't have the option to raid my pension plan.  Which looks pretty solid as the HK government runs gigantic surpluses year after year. 

I've been living below my means forever, so that means I am putting money into my own retirement nest egg every month. 

[CountDeMoney]

Since I really don't have any retirement options to speak of, I've decided to blow my brains out promptly at 67 years of age (that'll be in 2037), or whenever I become too infirm to work for a living, whichever comes first.

And no, assholes, unemployed =/ too infirm to work.  So solly.

[Admiral Yi]

That's the ticket. Andy Capp needs booze money.

[Barrister]

Just received the following email:

I want you to be among the first to hear about the Premier's Televised Address. It is scheduled for broadcast on CTV across the province tomorrow (Thursday) night at 6:52 p.m. It will be re-broadcast on CTV2 at 7:52pm, 11:52pm and on January 25 at 11:52 am.

I know there's been a lot of discussion lately, among the Alberta Public Service and across the province, about the current fiscal state of the province and what that might mean to both the revenue and expenditure sides of the equation. Premier Redford will speak to Albertans about her vision for our province, the priorities of this government, the opportunities to meet the growth that we continue to experience as well as the fiscal challenges that we currently face. I encourage you to watch the Address, which will be immediately followed tomorrow night with a special edition of the Connector delivered to your inbox that will feature highlights from the address, along with messages from the Premier and me to all members of the APS.

I'm confident that through an informed, committed, inspired and engaged Alberta Public Service, we will rise to any challenge put before us. With your support, we'll continue to deliver the core programs and services important to Albertans.

There will be blood.   


For those of you not following the state of Alberta's economy, the recent declines in the price of oil (which are magnified here due to limited shipping / refining capacity) is doing a number on the province's bottom line.

[MadImmortalMan]

But, Barrister, you're so lucky to have a government pension! Lucky lucky lucky! 

[Tonitrus]

Since I really don't have any retirement options to speak of, I've decided to blow my brains out promptly at 67 years of age (that'll be in 2037), or whenever I become too infirm to work for a living, whichever comes first.

And no, assholes, unemployed =/ too infirm to work.  So solly.

My plan is more along the lines of choosing a favorite National Park, and disappearing into the backcountry wilderness (without having applied for a necessary permit).

Kinda like the whole ice floe thing.

[Razgovory]

That's the ticket. Andy Capp needs booze money.

Tyr is so full of good decisions, it's a bit surprising that he isn't showered with success more often.

[merithyn]

As of tomorrow, I'll actually start paying into mine now.

[Barrister]

Just received the following email:

I want you to be among the first to hear about the Premier's Televised Address. It is scheduled for broadcast on CTV across the province tomorrow (Thursday) night at 6:52 p.m. It will be re-broadcast on CTV2 at 7:52pm, 11:52pm and on January 25 at 11:52 am.

I know there's been a lot of discussion lately, among the Alberta Public Service and across the province, about the current fiscal state of the province and what that might mean to both the revenue and expenditure sides of the equation. Premier Redford will speak to Albertans about her vision for our province, the priorities of this government, the opportunities to meet the growth that we continue to experience as well as the fiscal challenges that we currently face. I encourage you to watch the Address, which will be immediately followed tomorrow night with a special edition of the Connector delivered to your inbox that will feature highlights from the address, along with messages from the Premier and me to all members of the APS.

I'm confident that through an informed, committed, inspired and engaged Alberta Public Service, we will rise to any challenge put before us. With your support, we'll continue to deliver the core programs and services important to Albertans.

There will be blood.   


For those of you not following the state of Alberta's economy, the recent declines in the price of oil (which are magnified here due to limited shipping / refining capacity) is doing a number on the province's bottom line.

What a stupid announcement.

'Despite record-setting deficits, we are committed that we will not raise taxes, nor will we cut social services'.

Instead they are going to "review spending", as if we haven't heard that before.

[Admiral Yi]

Defined contribution man, it's the way to go.  Once it's paid out, they can't take it back.

[Barrister]

Defined contribution man, it's the way to go.  Once it's paid out, they can't take it back.

But the problem is I have no idea if I'm going to keel over at age 65, or hang on until I'm 95.  Since I don't want to run out of money, I have to assume 95.  But odds are I'll die at some point before then.

Defined benefit plans are inefficient.  I like the pooled risk.

[Admiral Yi]

Then plop all your money into an annuity when you hit 65.  You don't need Big Brother holding your hand.

[Barrister]

Then plop all your money into an annuity when you hit 65.  You don't need Big Brother holding your hand.

Then you're putting all your eggs in one basket.  If the company you purchase your annuity from goes under, you're out of luck.

Besides, who doesn't like holding hands?