31% Of Americans Have No Retirement Savings At All (advantage, 2015, state)
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Not only a problem investing in Treasuries but how much interest you will lose in the result. That on top of the fact that they will rob your money to pay for other government programs and bankrupt that fund too.
Bada Bing! Was wondering how long it would take someone to point the obvious out. TY.
Not only a problem investing in Treasuries but how much interest you will lose in the result. That on top of the fact that they will rob your money to pay for other government programs and bankrupt that fund too.
Nah..they will just "borrow" your money and give you Treasury bonds in return just like they did with the SS Trust Fund.
$20 trillion or maybe even more by now is sitting in individual retirement accounts.
I'm keeping close tabs on this and follow what's going on. I even read the transcripts of the 3 day DOL meeting.
So far it's all talk and all the talk specifies "optional".
Now would the USG seize them and pull an Argentina on us ? Not likely anytime soon.
When the USG runs low on money they have been dipping into Federal pension money. That has happened 2 or 3 times now.
Nah..they will just "borrow" your money and give you Treasury bonds in return just like they did with the SS Trust Fund.
$20 trillion or maybe even more by now is sitting in individual retirement accounts.
I'm keeping close tabs on this and follow what's going on. I even read the transcripts of the 3 day DOL meeting.
So far it's all talk and all the talk specifies "optional".
Now would the USG seize them and pull an Argentina on us ? Not likely anytime soon.
When the USG runs low on money they have been dipping into Federal pension money. That has happened 2 or 3 times now.
I started a thread about the fact that a large number of tax deferred owners were unaware of market performance. It got read differently and went down a different path. However the fact remains that many are unaware about much about their tax deferred investments and government want to play a bigger role in that market. U.S. Labor Department to release financial advisers rule by August
T
Quote:
he U.S. Department of Labor is eyeing August as a target to release a controversial proposal that would require retirement plan financial advisers to put their clients' interests ahead of their own, a department official confirmed Wednesday.
"We are not quite finished. We haven't made all of our decisions," Phyllis Borzi, the assistant secretary of the Employee Benefits Security Administration, said in remarks at an event held by the Financial Services Roundtable. "August is our goal."
The Department of Labor has been working for several years to overhaul regulations that govern how advisers provide advice to clients in workplace retirement plans such as 401(k)s and individual retirement accounts.
The idea behind the plan is to reduce potential conflicts of interest because advisers who offer rollover advice to retirees stand to benefit financially.
The plan generated massive opposition from the industry, which said it would drive up costs, curb commissions and ultimately hurt customers.
Critics also complained the Labor Department's rule could conflict with a separate fiduciary-rule making effort under consideration at the Securities and Exchange Commission that would harmonize rules between broker-dealers and investment advisers.
The meeting was about Lifetime Income in 2010. Transcripts of the meetings are linked there.
Of course they don't directly come out and say anything. You have to read between the lines and the flowery use of words.
It can be interpreted that the DOL would require mandatory annuities as part of individual retirement account payouts.
The meeting centered around making sure Americans had a steady income stream with their individual retirement accounts over and above SS.
Nah..they will just "borrow" your money and give you Treasury bonds in return just like they did with the SS Trust Fund.
$20 trillion or maybe even more by now is sitting in individual retirement accounts.
I'm keeping close tabs on this and follow what's going on. I even read the transcripts of the 3 day DOL meeting.
So far it's all talk and all the talk specifies "optional".
Now would the USG seize them and pull an Argentina on us ? Not likely anytime soon.
When the USG runs low on money they have been dipping into Federal pension money. That has happened 2 or 3 times now.
That is the point I am making. Let's use my PIP (personal investment performance) for example. I have three investment funds I am in under TSP. I have options for more but at my age I am invested thus.
40% small cap - S fund
20% large cap - C fund
40% treasuries -G fund
Why you ask? I do it to balance my portfolio and maintain some control. My PIP for the past 12 months is 14.36% to the good. Why do I point this out? If I were 100% invested in the G fund my PIP would be under 4% and most likely in the 2.5% range. That number barely if at all keeps up with inflation. No one could securely invest in the future with that kind of number. Then to have the government tell me that is security and I am supposed to like it? Bah!!!!
I started a thread about the fact that a large number of tax deferred owners were unaware of market performance. It got read differently and went down a different path. However the fact remains that many are unaware about much about their tax deferred investments and government want to play a bigger role in that market. U.S. Labor Department to release financial advisers rule by August
T
This quote is not about government playing a bigger role. It is about retirement plan advisors being held to the standards of a fiduciary. Currently, their standards are lower.
Not only a problem investing in Treasuries but how much interest you will lose in the result. That on top of the fact that they will rob your money to pay for other government programs and bankrupt that fund too.
And IMO, that's the biggest problem- I don't believe for one minute you could ever trust the guv'mint not to do that.
This quote is not about government playing a bigger role. It is about retirement plan advisors being held to the standards of a fiduciary. Currently, their standards are lower.
Yes and making them more accountable in representing their clients best interest. To accomplish that government would take on a bigger regulatory role. When government increases regulations it is creating a bigger role in our lives.
The meeting was about Lifetime Income in 2010. Transcripts of the meetings are linked there.
Of course they don't directly come out and say anything. You have to read between the lines and the flowery use of words.
It can be interpreted that the DOL would require mandatory annuities as part of individual retirement account payouts.
The meeting centered around making sure Americans had a steady income stream with their individual retirement accounts over and above SS.
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