Did you think the left would let you have private retirement accounts...silly you...

[2aguy]

yes...all that money sitting in private retirement accounts.....and you guys thought that the left would let you keep it all to your selves.......that just shows you don't understand the left wing regressive a and their Borg like desire to control every aspect of your lives...

How do they plan on doing this......by regulating financial advisors out of managing private retirement accounts....so you will have no where else to go but to the government and the corrupt politicians who run it.........

Obama Now Setting Out To DESTROY This Vital Economic Tool We All Use

New rules going into effect at the end of the year change the “fiduciary rule” requiring financial advisors to act “in the best interest of their clients.” That sounds fine, but the devil’s in the details.



The rule “carries such enormous potential legal liability and demands such a high standard of care that many advisors will shun non-affluent accounts.” Read: Middle class Americans will be shut out.

At the same time, the Obama Administration is unveiling a host of new government-run competitors for retirement savings.

Labor’s new rule will start biting in January as the President is leaving office. Under the rule, financial firms advising workers moving money out of company 401(k) plans into Individual Retirement Accounts will have to follow the new higher standards. But Labor has already proposed waivers from the federal ERISA law so new state-run retirement plans don’t have the same regulatory burden as private employers do.

 

[Maryland Patriot]

whole lot of talking in those articles, not much to hear though.
The did not inform enough to discuss this issue, they only created a need for extensive research.
Must have been written by a liberal.

 

[Katzndogz]

obama has wanted to seize private retirement accounts since his first day in office.

 

[Agit8r]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

 

[Manonthestreet]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

Got any proof they arent........that a fix is needed at all especially one that includes more govt

 

[Agit8r]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

Got any proof they arent........that a fix is needed at all especially one that includes more govt

I've lost two 401k accounts. That is proof enough for me.

 

[Manonthestreet]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

Got any proof they arent........that a fix is needed at all especially one that includes more govt

I've lost two 401k accounts. That is proof enough for me.

Lost how..........and what was your culpability

 

[Katzndogz]

The government has the idea that it knows much better than everyone else how to handle their money. To save you from yourself, the government will take care of your money for you. Your retirement will be one check. Retirement and social security. The beauty of this plan is, when you die the government already has your money. You are relieved of leaving it to your children. The government promises to give your kids some, whatever the bureaucrats think they should get.

 

[boedicca]

It's hardly a surprise that the Grasshoppers have formed a mob to rob the Ants.

 

[Manonthestreet]

Cant wait to get my zero interest bonds...and deal with retirement .gov

 

[TooTall]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

That is a double edged sword. You don't pay taxes on the contribution or the earnings while you are working, but do pay taxes when you retire and start to withdraw the money. If taxes were higher when you were working, and lower when you retire, it was a good deal. If the reverse were true, not so much.

On edit: If I don't like how my broker is managing my account, I can transfer all of it to another brokerage firm. Not an option once the government get its hands on my retirement funds.

 

[boedicca]

Cant wait to get my zero interest bonds...and deal with retirement .gov

Retirement.gov will be the forced Bail-in by those who have saved to cover the insolvency of those who lived beyond their means.

 

[Manonthestreet]

Cant wait to get my zero interest bonds...and deal with retirement .gov

Retirement.gov will be the forced Bail-in by those who have saved to cover the insolvency of those who lived beyond their means.

It is looking that way.......I dont doubt they will play the same games with this as SS....heres some IOUS for your account while your money goes to cover govt "operating" expenses

 

[boedicca]

Cant wait to get my zero interest bonds...and deal with retirement .gov

Retirement.gov will be the forced Bail-in by those who have saved to cover the insolvency of those who lived beyond their means.

It is looking that way.......I dont doubt they will play the same games with this as SS....heres some IOUS for your account while your money goes to cover govt "operating" expenses

My prediction is that we'll see massive inflation while the indexing of SS payments lags far behind combined with means testing so that "The Rich" (defined as anyone with any meaninggul savings whatsoever) being disallowed from receiving SS benefits.

 

[2aguy]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

Do you understand what they are going to do....they are going to make it harder for you to get a 401k.......and force you into a government managed account....you know...the same guys who put us into 19 trillion dollars of debt....

In any other business those people would already be in jail.......

You really want the government in control of your retirement account.....? Really?

 

[2aguy]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

That is a double edged sword. You don't pay taxes on the contribution or the earnings while you are working, but do pay taxes when you retire and start to withdraw the money. If taxes were higher when you were working, and lower when you retire, it was a good deal. If the reverse were true, not so much.

On edit: If I don't like how my broker is managing my account, I can transfer all of it to another brokerage firm. Not an option once the government get its hands on my retirement funds.

Exactly....and again.......19 trillion in debt....and Social Security is out of money....

 

[Agit8r]

If I don't like how my broker is managing my account, I can transfer all of it to another brokerage firm. Not an option once the government get its hands on my retirement funds.

Most people who have an account through an employer do not have that option.

 

[Agit8r]

Only a far-right wingnut could object to retirement funds working in the best interest of their clients. It is given tax free status so that people can actually have use of this investment when they retire.

Do you understand what they are going to do....they are going to make it harder for you to get a 401k.......and force you into a government managed account....you know...the same guys who put us into 19 trillion dollars of debt....

In any other business those people would already be in jail.......

You really want the government in control of your retirement account.....? Really?

 

[TooTall]

If I don't like how my broker is managing my account, I can transfer all of it to another brokerage firm. Not an option once the government get its hands on my retirement funds.

Most people who have an account through an employer do not have that option.

When you retire the company sends you the proceeds of our 401K. You have the option of putting it in an IRA or paying a 50% tax rate.