I read a long red-flag article about this murky looting of peoples retirement funds, including IRAs.
I don’t have a fund or IRAs so didn’t really get it.
The long and short was that in the dead of night, again, congress is changing the rules about when and how and at what age retirees can draw out their money.
July 12 was the date, and the title of the story was “Congress is Coming for Your IRA”.
if they screw him again, I swear we'll rob banks......
Years ago Nancy Pelosi came out in favor of a 100% tax on 401K’s, which is just another way of saying they’re seizing your retirement account. They’ve thought about it, that’s for sure.
Any more I think the only money that’s safe from these thieves is pure gold that you’ve got hidden in a location they can’t find.
This is the great advantage of a Roth IRA ... even though the bastards later change the rules because you’ve already paid taxes on your principal they are nominally left with trying to confiscate your interest (expect them to want to apply penalties too) ... and not just principal and interest.
Ultimately, we cannot expect the scum on the Left to not try Ex Post Facto laws (such as finding reparations are owed is). The Constitution is as meaningless to them as screwing the taxpayers without even giving a proverbial reach around is.
That’s been one reason why we poured money into being debt free. Pay off the mortgage, and the rate of return equals the interest rate on the mortgage. Pay off all other debt, and you need less money to live on later.