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Mandatory Retirement Bonds? More Reason to be Concerned About Your IRA and 401k

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posted on Jan, 12 2010 @ 06:46 AM
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Mandatory Retirement Bonds? More Reason to be Concerned About Your IRA and 401k


beforeitsnews.com

If you’re saving for retirement under a tax “advantaged” plan like an IRA or 401k, please be skeptical.The very same US government that’s offering you “advantages” is also your tax collector. Uncle Sam probably wants to help you save for a happy and healthy retirement, but maybe not. In a pinch — when his own bill collectors come knocking and he finds no money in his pocket — don’t expect him to forget that you still owe him a little something.
(visit the link for the full news article)




posted on Jan, 12 2010 @ 06:46 AM
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Most of us out in the real world, who are not part of the one percent who control forty two percent of the wealth, do have to work most every day. That means we hope to be able to retire some day, that is why it is important to take note of things like this. The article above state that as the federal government runs out of money it will start looking at retirement plans as a way to get some more. It also brings up the idea of mandatory retirement bonds.

beforeitsnews.com
(visit the link for the full news article)



posted on Jan, 12 2010 @ 07:40 AM
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Does anyone have 401k or other retirement funds left? I know a lot of my family's plans were wiped out by the fall in 2008. Luckily I saw it coming and pulled mine out early 2008 and purchased gold ingots, none of that paper bull. I took a 20% hit on taxes but that was made up pretty quick. Hell of a good move there, luckily.

I would say 85% of my immediate family members retirement funds were wiped out.

If anyone has a doubt that the economy is getting worse, all one has to do is look at what government is contemplating on all fronts. Getting into health care and manipulating so many things.

The only thing I can see as a possible remedy on all of this is to file bankruptcy on all governmental debt. I know that is one of the no no's in economics of scale, but if the economy is already tanked, how much further down can it go? I don't know, maybe we can sustain the debt by socializing everything, that may be their final plan? The bankruptcy being part of it?



posted on Jan, 12 2010 @ 08:08 AM
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reply to post by endisnighe
 


Endisnighe
thanks for posting.
Congratulations on your correct move with your investment. Maby you should be advising everybody hear on ATS. The government going into bankruptcy is what I thought was going to have to happen for a long time. A little person like me can not accurately say what would happen on the world wide scale if they did, but i still think that is what is going to have to happen.



posted on Jan, 12 2010 @ 08:31 AM
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reply to post by RedGolem
 


It was pure luck, I was going to leave California and knew the economy was bad and the only real safe investment over the long run was gold. My boss put me in touch with our investment manager and I was able to purchase the gold through his firm.

I cannot advise anyone on investments. I have always left that up to others, like I said, it was pure luck.

Of course I have been living on that luck since 08 and need to find work soon. Hope whatever happens, happens soon. By what the Asian area governments did when their economies faltered back in the 1995-2000 time frame, we are only going to prolong the problems instead of fixing them.

The one thing about me pulling out when I did, I should have looked back at history and put together the same thing always happens. A slow rise always follows a severe drop in the market.

I believe now the next point in the market that can be a money maker is shorting stock. But for that to work you need to get in at the right point. Another dip is coming, I do not know when but it is inevitable. Even if we see a long term rise in the market, another downturn is on the horizon.

I just need to find another job or start a company again. My first venture was back in the 93-2000 time frame. It did well but I had problems with a workman's comp case and had to close because of it.

Need to come up with a good business model and invest the last of my savings, maybe. It is kind of scary to start a business in this market. Still working out possible ideas. My specialty is construction of any type, but that is one of the hardest markets right now. I am leaning toward the survivalist market but that has been flooded already. And I hate to profit on others fears, just does not seem Christian to me.

Need to find a niche.

Keep giving me these articles to read. I may come up with something.



posted on Jan, 12 2010 @ 04:10 PM
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reply to post by endisnighe
 


Endisnighe
thanks for sharing everything you did, star

I do hope to keep finding the articles. I personally do not understand everything with the economy and the different investments and all. I just do hope the people I use will get me in some of the right things.



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