Obama going after your 401k’s and IRA’s

@raditz Said

I hear that's working out very well. lol

@ThePainefulTruth Said

Yeah, and we already have a national medical care system. It's called Medicare.

@Alkaia Said

Begins Push for New National Retirement System

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning…

…Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.

…”This whole issue is moving forward very quickly,” warns Crone. “Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.

Read more at https://investment***chblog.com/obama-going-after-your-401ks-and-iras/#A7Z5mkKX67GmquJ7.99

just another step to the red flag

@Alkaia Said

I have a retirement fund, thats why I am still in. Money doesnt gain interest at the rate just in a bond or savings account needed to have a viable retirement fund.

I dont use vanguard. I prefer fidelity. Ive used them all, Ive had the best success with fidelity.

oh and as I said, I may get out. Im stuggling with that My biggest question now is do I think the economy can recover in the next 20 years along with my retirment account. Its a long shot, always is. But the alternatives dont give a lot of hope either

@boobagins Said

Aww sweet. Another Bogle follower. Smart man, smart man!

I recently got to meet him and get an autographed copy of his books. Lovely, awesome man he is.

@El_Tino Said

Well, my suggestion is you read some (or all) of the following books before you make a move.
- The 4 Pillars of Investing by William Bernstein
- A Random Walk Down Wall Street by BUrton Malkiel
- Anything by John Bogle, maybe The Little Book of Common Sense Investing



Nice! Yeah I just discovered his ideas in the last year or so, wish I knew about it like 5 years ago Not to say I did poorly when the market crashed, but I could have saved a lot in fees and been diversified in a better way.

@Alkaia Said

Thanks, I dont think Ill be changing my profession any time soon and becoming a investor with my entire retirment fund. Ive already thought about it and if I take it out I will buy land in canada.

I read something recently about something that is really what thy want to do with our retirment funds and it may be where this topics idea came from. It has to do with removing tax benefits.
https://www.cnbc.com/id/49976741

and I know you are aware if you are a invester yourself that a lot of investers/brokers are leaving the market, some closing down shop. The market is inflated due to quantitative easing QE3 btw.that means theve done it 3 times in the last 4 years. use the air money as I call it and buy up bonds. so when all that stops know one knows now they have it going 40 billion a week till infinity, that cant continue.

@Leon Said

Not really, as Medicare only is for the seniors.

@Alkaia Said

Thanks, I dont think Ill be changing my profession any time soon and becoming a investor with my entire retirment fund. Ive already thought about it and if I take it out I will buy land in canada.

@Alkaia Said

The market is inflated due to quantitative easing QE3 btw.that means theve done it 3 times in the last 4 years.

@Alkaia Said

use the air money as I call it and buy up bonds. so when all that stops know one knows now they have it going 40 billion a week till infinity, that cant continue.

@Alkaia Said

Thanks, I dont think Ill be changing my profession any time soon and becoming a investor with my entire retirment fund. Ive already thought about it and if I take it out I will buy land in canada.

Quote:

and I know you are aware if you are a invester yourself that a lot of investers/brokers are leaving the market, some closing down shop. The market is inflated due to quantitative easing QE3 btw.that means theve done it 3 times in the last 4 years. use the air money as I call it and buy up bonds. so when all that stops know one knows now they have it going 40 billion a week till infinity, that cant continue.

@boobagins Said

Yes, brokers are leaving because index funds consistently beat actively managed funds and everyday they get faceplamed in the face.

@El_Tino Said

And I wouldn't suggest you do that. You don't have to quit your job to read 3 books, or even 1 of the three, do you?



If we knew the stock market would crash tomorrow, it would crash today.



Now hedge funds are doing even worse than managed mutual funds

@shinobinoz Said

https://factcheck.org/2008/11/iras-401ks-and-you/
Now stop posting s*** please.

@Alkaia Said

No I could read one book on it. basically what Im saying is im chicken s*** to do that. I mean I might put several hundred in there to play with, but not thousands. Im too scared to do that myself.

@jonnythan Said

That fear comes from ignorance. If you understood it better, it wouldn't feel like "playing" and taking chances.

@ThePainefulTruth Said

Ooooo, good point. So our medical program that only takes care of seniors is being bankrupted via mismanagement and overspending, so the cure is Obamacare that takes care of everybody--and cuts Medicare funding by 50%. How is that not a major clue for big government, big spending socialists wanting to expand on a bankrupt Social Security system? When has responsible government ever entered their thinking.

Republicans forced Clinton to reform Welfare and Food Stamps. But the first chance he got, Obama removed those reforms and is even advertising in this country for people to use Food Stamps (thus becoming habituated to it), and advertising in other countries for them to partake of our welfare.

@Alkaia Said

No I could read one book on it. basically what Im saying is im chicken s*** to do that. I mean I might put several hundred in there to play with, but not thousands. Im too scared to do that myself.