Posted on 04/27/2015 3:06:57 AM PDT by markomalley
Check out “MyIRA”
There is nothing inherently wrong with investing in one's own company -- as long as that's not the only investment. Perhaps place a percentage cap on how much you can direct to company stock.
I knew he would get a high paying job, compliments of the democrat party.
depends on what you’re putting there.
if it’s cash, they can steal it anyway.
Thanks for posting this. We need to make sure our reps know about this.
That's a reasonable compromise. But, it should be a relatively low percentage.
Some companies invest any company match or profit-sharing contribution to a 401(k) in the company stock fund. I don't see a problem with that, as long as the owner can reinvest it into something else relatively soon (as in, within 12 months).
A lot of Enron employees lost everything because they had put their entire 401(k) into company stock, with the encouragement of company management. That's an extreme case, but a good example of what can happen: you lose your job AND your financial cushion at the same time.
But, but, there is no inflation! More QE, and for our safety no more gold investments in our retirement.
That's MyRA, not MyIRA: https://myra.treasury.gov/
It's nothing more than a low-cost alternative for people that don't have access to a 401(k) at work.
The investment option (US Treasury Bonds) isn't great, but it's better than a deposit savings account. And, after 30 years, or reaching a balance of $15,000, it's converted to a Roth IRA account, where the holder can invest in anything. Or, the holder can convert it to a Roth IRA at any time.
So, tell me: how exactly is this "confiscation"? If I had been able to do this with my Social Security contributions, I'd have about $1,000,000 today, tax-free. That's not a rough estimate: I've actually done the calculations, using the average annual rate of return by long-term US Treasury Bonds each year and reinvesting dividends along with my contributions.
It is my understanding that your “investment” will be in government bonds, no other choices.
When you die, the government keeps 1/2 of your funds, unlike an IRA or 401K where you can pass the entire amount on to your heirs.
Also, there was talk about giving us an IOU for the value of our retirement accounts on August 8, 2008, then they would take that, in our name, and invest it in the govt bonds.
Im not a financial whiz, but I don’t trust the govt one bit to watch out for my retirement funds. It will be a second generation Social Security piggy bank for them. They have proven untrustworthy.
what makes you think people will surrender it?
Dang, mine got dropped in the Bay while I was out boating
Just wait out the tyrant, pass it to your kids or theirs
an underground or alternative market will evolve and gold will always have value
and most of the American people will always be smarter than their government masters- at least those that still have the genetic material of the settlers who came here for that reason
stick to your plan!
If you keep it in the MyRA account, that's the only choice. But, you can convert it to a Roth IRA at any time. Read the URL I posted earlier, it has the details.
When you die, the government keeps 1/2 of your funds, unlike an IRA or 401K where you can pass the entire amount on to your heirs.
No. I don't know who told you this, but it's wrong.
Also, there was talk about giving us an IOU for the value of our retirement accounts on August 8, 2008, then they would take that, in our name, and invest it in the govt bonds.
Like I wrote earlier, this was testimony from a left-wing professor to a committee, that was quickly forgotten by everyone except the conspiracy theorists. It didn't go anywhere, so please stop beating that dead horse.
Im not a financial whiz, but I don’t trust the govt one bit to watch out for my retirement funds. It will be a second generation Social Security piggy bank for them. They have proven untrustworthy.
You don't have to trust the government. You can do it yourself, or hire someone to do it. It's not hard -- it just requires patience and perseverance.
What is REALLY dumb is not taking advantages of the tax incentives, especially the Roth IRA. And if your company matches any part of a 401(k) contribution, you are essentially giving up free money.
The stupid American voters elected Obama twice and continue to re-elect the likes of Boehner, McConnell, Graham, McCain, etc., year after year. Seems to me that Gruber's comment is spot on.
What gets me is when FDR confiscated citizen’s gold, most just sheepishly complied, and that was before all our liberties had been taken away by big federal gov’t. Now it would be easy pickens.
Gold lost value here because the dollar has risen in comparison to other currencies.
In another fifty years, that may be worth something!
Gold will always have value, and I think after the next coming crash (I am voting for this autumn), gold will skyrocket for awhile. However, I view the future through a Biblical lens. That is my vantage point. The Bible clearly tells us that someday (I don't know exactly when) the entire world will shift to not only a one world currency, but it will be illegal (to the point of torture and death) to go off "the system" in any way. That is what Revelation 13 and other Biblical passages clearly tell us.
What is also coming is a famine and global crash so bad that it will take everyone an entire day's wages to purchase one loaf of bread. Gold and silver will not save us - only faith in God.
Further, I anticipate Obama to exploit any fiscal crash that might happen in the next year or two to his maximum advantage. I can fully anticipate him announcing that anyone caught holding or trading in gold or silver will be imprisoned and their entire assets forfeited. The millions who have nothing will cheer his announcement uproariously. Homes will be raided. Safety deposit boxes turned over to Federal agents. Electronic bank accounts will be frozen. In fact, I believe the preparations are already complete for this to be carried out.
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