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Old 04-18-2014, 06:55 AM
 
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Hard to say much of anything on the long term benefit of since we still have to be convinced that the intended audience will even bother to take advantage of. Gotta wonder that if they had to propensity to save for retirement they would have already figured out how to use low entry IRA's.
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Old 04-18-2014, 07:28 AM
 
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Originally Posted by TuborgP View Post
Hard to say much of anything on the long term benefit of since we still have to be convinced that the intended audience will even bother to take advantage of. Gotta wonder that if they had to propensity to save for retirement they would have already figured out how to use low entry IRA's.
You are touching on why the real audience here is low-wealth individuals. If they had wealth they would have more options at their disposal.

I agree with you that I don't suspect that they will draw much of an audience. But there is a negative impact on those who do - statistically. They are putting money to use in low-yield investments that are concentrated in a single issuer. The tax consequences alone put them behind using IRAs. This is the marriage of high risk, low-yield, negative taxes that creates poverty not cures it.
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Old 04-18-2014, 07:35 AM
 
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Originally Posted by JoeTheEconomist View Post
You are touching on why the real audience here is low-wealth individuals. If they had wealth they would have more options at their disposal.

I agree with you that I don't suspect that they will draw much of an audience. But there is a negative impact on those who do - statistically. They are putting money to use in low-yield investments that are concentrated in a single issuer. The tax consequences alone put them behind using IRAs. This is the marriage of high risk, low-yield, negative taxes that creates poverty not cures it.
Financial education from the bully pulpit might do wonders. I am still hoping for a speech on how to grow your wealth instead of wanting what someone else has grown. Just a speech on the power of compounding would do wonders.
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Old 04-18-2014, 08:08 AM
 
Location: Great State of Texas
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Originally Posted by TuborgP View Post
Financial education from the bully pulpit might do wonders. I am still hoping for a speech on how to grow your wealth instead of wanting what someone else has grown. Just a speech on the power of compounding would do wonders.
And that usually came from our parents.


Christmas club accounts at banks, layaway and how that worked, etc.
I didn't learn any of that in school; I learned it at home.
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Old 04-18-2014, 11:30 AM
 
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Originally Posted by HappyTexan View Post
And that usually came from our parents.


Christmas club accounts at banks, layaway and how that worked, etc.
I didn't learn any of that in school; I learned it at home.
Except now we have a Commander in Chief who wants to restructure how wealth is acquired and eventually distributed. My reference was to him and the MyRA and continuing quest to ........ The wealth gap which this could make worse.
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