[NavVet]

And once the government gets that money, I'm sure they would never be tempted to spend my retirement money the way they have spent social security money. Oh, and just wait a year or two after you've been forced to put your money in the government accounts. 1. The age at which you can start making your withdrawals will start creeping up until it finally intersects with one’s life expectancy. 2. There will be talk that the “rich” don't really need the money they've put in, and “means testing” will be introduced as a method to confiscate all or part of the retirement funds of a lot of people. 3. Since that money was for your retirement, it just wouldn't make sense to let your children reap a windfall by allowing the money to pass through inheritance.

In short, the system will first mirror social security, then merge with it, and at the end of the day, you will be left with the same meager social security check even though your contributions to it would have doubled.

[Grampa Dave]

Thanks for your excellent summary of the nightmare that will take over if Obama and a Rat controlled congress are in total control in Jan 2009.

"And once the government gets that money, I'm sure they would never be tempted to spend my retirement money the way they have spent social security money. Oh, and just wait a year or two after you've been forced to put your money in the government accounts. 1. The age at which you can start making your withdrawals will start creeping up until it finally intersects with one’s life expectancy. 2. There will be talk that the “rich” don't really need the money they've put in, and “means testing” will be introduced as a method to confiscate all or part of the retirement funds of a lot of people. 3. Since that money was for your retirement, it just wouldn't make sense to let your children reap a windfall by allowing the money to pass through inheritance.

In short, the system will first mirror social security, then merge with it, and at the end of the day, you will be left with the same meager social security check even though your contributions to it would have doubled.

[Mad_as_heck]

Its beginning to look like the people with their savings safely deposited in a tin can buried in the back yard are the smart ones after all....

[pabianice]

If you are over 59 1/2, you should bail on your IRA and Roth before Obama seizes them.