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(Yahoo)   What to do if you save too much for retirement. Eat all beef hot dogs for dinner instead of regular hot dogs?   (finance.yahoo.com) divider line
    More: PSA, Pension, Taxation in the United States, Roth IRA, Tax, Individual Retirement Account, excess contributions, Withdrawal, Employment  
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881 clicks; posted to Business » on 10 Jun 2021 at 5:55 PM (11 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



26 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-06-10 6:08:11 PM  
wow some on has a fancy retirement plan for eating hotdogs instead of cat food.
 
2021-06-10 6:27:16 PM  
I feel that anyone who has an issue putting too much toward retirement has enough money to pay an accountant to resolve the issue for them.
 
2021-06-10 6:27:27 PM  
lh3.googleusercontent.comView Full Size
 
2021-06-10 6:30:38 PM  
samueldorland.files.wordpress.comView Full Size
 
2021-06-10 6:35:00 PM  

PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.


Way cheaper than cat food.  I've never understood how this meme got started.
 
2021-06-10 6:51:20 PM  

PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.


Cat food is better quality than it used to be and is relatively more expensive than cheapo hot dogs.
 
2021-06-10 6:55:39 PM  

Billy Liar: PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.

Cat food is better quality than it used to be and is relatively more expensive than cheapo hot dogs.


Oh....I thought he was eating cats. Plenty of them wandering around.
 
2021-06-10 7:05:15 PM  
Wonder if these laws apply to the Mitt Romneys of the world who questionably stuff their retirement accounts.

Nahh, I'm sure the "saving too much money" fine only applies to a small percent of regular people who actually manage to save for retirement.
 
2021-06-10 7:13:27 PM  
Be thankful that you're in that amazing of a spot....
 
2021-06-10 7:14:36 PM  

natazha: PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.

Way cheaper than cat food.  I've never understood how this meme got started.


Was gonna post about eating crickets to save costs, then discovered food crickets are farking expensive.
 
2021-06-10 7:16:42 PM  
Simple
Make sure your relatives know thier inheritance depends on how well they kiss your ass..
Thin give all to your cat.
 
2021-06-10 7:24:59 PM  
If you find yourself in the soul-harrowing situation of having accidentally saved too much money for your retirement, the only sensible course of action is clear:
1) stick to a strict and gluttonous diet of auto-cannibalism
2) surround yourself with religious extremists who believe that your death will bring about the new golden age
3) threaten wealthy, powerful crime syndicates with necromancy and terrorism.

Not necessarily in that order.

This...I tell you, this is the only way you can ever possibly hope to escape from such a terrifying predicament as having saved too much money for your retirement.
 
2021-06-10 7:39:04 PM  
TFA only applies to Pointy Haired Bosses and has several major inaccuracies. The usual situation if you get deemed to be an HCE is the additional contributions are classed as Non-Qualified (most larger plans have this capability). You lose the tax sheltering of the income, but for the most part, that's all.
 
2021-06-10 7:41:18 PM  

PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.


Username checks out should aim higher
 
2021-06-10 8:11:15 PM  

natazha: PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.

Way cheaper than cat food.  I've never understood how this meme got started.


Maybe dry cat food?
 
2021-06-10 8:35:53 PM  

natazha: PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.

Way cheaper than cat food.  I've never understood how this meme got started.


Reports in the '70s of elderly people buying canned cat food to stretch their food budget, when they didn't have cats, and cat food was pretty cheap due to it not being very good (a lot of filler).  They were buying whatever was cheap and even marginally fit for human consumption without losing any dignity.
 
2021-06-10 9:15:49 PM  

GodComplex: I feel that anyone who has an issue putting too much toward retirement has enough money to pay an accountant to resolve the issue for them.


My accountant charges $250/hour and is nearly useless.  His plan is to take my extra income in fees to make it difficult for me to save more.
Hey, maybe we can micromanage wealth the same.  Like tax all individual income on the same wage scale and include FICA.  So Donald Trump would owe > 50% in taxes every year, due to state, federal, and federal AMT (he currently pays less than 1%).  We can also mandate they spend 5% of their net worth annually, and limit trust funds to a maximum of 10 years where all assets in the trust must be spent to $0 or the remaining funds are taxed at 50%.
The increased revenue will be used for public higher education, rebuilding K-12 schools across the country, single payer health care, and a rational retirement system involving portable defined pension benefits.
 
2021-06-11 1:07:19 AM  

mr0x: natazha: PvtStash: wow some on has a fancy retirement plan for eating hotdogs instead of cat food.

Way cheaper than cat food.  I've never understood how this meme got started.

Maybe dry cat food?


I dunno. I now question whether cheap cat kibble or cheap instant ramen is the cheaper way to fuel a human.

/at my poorest, I was eating instant ramen multiple times a week.
 
2021-06-11 1:08:00 AM  

FarkMeAmadeus: Wonder if these laws apply to the Mitt Romneys of the world who questionably stuff their retirement accounts.

Nahh, I'm sure the "saving too much money" fine only applies to a small percent of regular people who actually manage to save for retirement.


I'm happy you're sure, even though you didn't read TFA. I mean, why let that get in the way of your preconceived delusions. :)
 
2021-06-11 2:08:12 AM  

Mcavity: Simple
Make sure your relatives know thier inheritance depends on how well they kiss your ass..
Thin give all to your cat.


Name checks out.
Fark user imageView Full Size
 
2021-06-11 6:05:14 AM  
Get some extra cheese on your Whopper.

Fark user imageView Full Size
 
2021-06-11 8:29:59 AM  

Another Government Employee: TFA only applies to Pointy Haired Bosses and has several major inaccuracies. The usual situation if you get deemed to be an HCE is the additional contributions are classed as Non-Qualified (most larger plans have this capability). You lose the tax sheltering of the income, but for the most part, that's all.


I have become somewhat of a pointy haired boss in middle age so I am getting a kick.
One way around the absurd retirement rules is simply to invest the extra in a brokerage account and take long term capital gains.  It's actually lower taxes than a traditional IRA since it has a low fixed rate.
 
2021-06-11 9:01:19 AM  
I seriously doubt that anyone on this planet would have trouble if they suddenly had "too much money."
 
2021-06-11 9:21:51 AM  

Combustion: I seriously doubt that anyone on this planet would have trouble if they suddenly had "too much money."


Plenty of people have gotten sudden windfalls of cash and success and had it negatively affect their lives, sometimes even ruining them.
 
2021-06-11 3:54:20 PM  

Smackledorfer: Combustion: I seriously doubt that anyone on this planet would have trouble if they suddenly had "too much money."

Plenty of people have gotten sudden windfalls of cash and success and had it negatively affect their lives, sometimes even ruining them.


But that's a great freaking problem to have!!! I wish I had too much money.
 
2021-06-11 7:58:46 PM  

Combustion: Smackledorfer: Combustion: I seriously doubt that anyone on this planet would have trouble if they suddenly had "too much money."

Plenty of people have gotten sudden windfalls of cash and success and had it negatively affect their lives, sometimes even ruining them.

But that's a great freaking problem to have!!! I wish I had too much money.


So did all of them.

I have "too much" money in some ways, but if I had fark you money?

Who knows.
 
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