Letter to the President

[hmm]

This is what I did today

DID you know that all you need to do is TYPE - they have a form on the Official Whitehouse web site. I also sent it to the AJC a big atlanta paper and several smaller local papers, Gaineville times and the Athens

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An open letter to the President

Letter to the Editor,

Here is an open letter that I have sent to the White House for President Obama.

I am sure that my situation is not unique.




Dear Mister President,

I am a 54 year old single woman. I have been working in the corporate world for over 30 years; the past 8 have been with a Fortune 500 Technology company, before that with a Fortune 500 Pharmaceutical Company. I have a 401k that has dropped by more than 1/3 in the past three months, I have a home with a mortgage balance of under $164k, my 12 year old car is paid off and I have a credit card balance of under $2400.00


Here is a concern, we, all in my department, have been advised that due to reorganization with in my employeer and the new business model that, jobs are going Off-Shore to India and Argentina, other jobs that were once virtual offices spread about the US are now being re-located in Boulder, Co. Dubuque, Iowa and Fishkill, NY. With that move, many of us face the possibility of a released with in the next 12 months. I will loose my job, thus loose my current level of income and be unable to afford my home.


YET, Mister President, I planned, I have a 401k, but I can not touch, without penalty of a high tax bill, to pay off my mortgage and be debt free.


Your plan to help industry is grand and may assist some in the long run, but there are many like myself that will not benefit, our needs are here in the present and many of us will loose everything we have.


If we had the ability to withdraw and take the monies we have so wisely saved over the past 20, 30 years to use now without tax penalties or tax payments due, many of us would be able to pay down out mortgages, pay off outstanding credit debt and that alone would be a salvation for some of us.


I only ask that you think in small terms as they may help more people quicker.


Thank you,


Shari Heinz

[CurSedVoyce]

Well said and well done Shari....:thumbup:

[Jonseredbred]

Thats a great letter and a very valid point.

[Chisel Tooth]

Lets hope someone is listening, indeed a very nice to the point letter.

[OTGBOSTON]

I like it!

'cept you spelled lose wrong:P

[sotc]

sounds logical, itll never pass

[stehansen]

Yeah, they'll never go for that. You didn't have to pay taxes on the money when you put in your retirement account so, in their mind you are getting a free ride.

[hmm]

... You didn't have to pay taxes on the money when you put in your retirement account so, ...

That may not be true. You have before tax money that you can put into a fund and after tax money.

What about those that put money's in from their weekly paycheck NOT with an employeer? I am unlucky that most of my investment was with BEFORE tax dollars so I will pay when i withdrawl at a (supposed) lower rate as when i should take it out, I would not be making as high an income.

I guess this was my vent

[stehansen]

I should learn to be quiet when I don't know what I'm talking about.

[MasterBlaster]

A most positive trait, indeed.

[Old Monkey]

If I were the President I would say no. If I let you and others like you pull out of your retirement accounts without penalty it would sink the already faltering market.

[sotc]

you dont think some would invest in stocks or rental properties? why would it sink us?

[vharrison]

If I were the President I would say no. If I let you and others like you pull out of your retirement accounts without penalty it would sink the already faltering market.

Darin, I don't agree with you. That money is just sitting there. It is her money. If she or I could access our money without being taxed, we could stimulate the economy. I might add that most of the money John and I have put away is pre taxed. While I, and I would bet Shari, am not ready to take such drastic measures, we are looking at worst case scenario's and trying to plan for them. Worst case scenario, we could go down the tube and your tax dollars can support us. :what:

Shari, great letter!

[Mr. Sir]

Instead of being broke now... you'll be broke when you retire. :roll:

[vharrison]

Instead of being broke now... you'll be broke when you retire. :roll:

Exactly why we are not wanting to do that. Just so all of you know, your 401 k's and IRA's are considered a protected asset. We spoke to an asset protection lawyer yesterday. We found out some interesting things.

[MasterBlaster]

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