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How to protect your retirement? Don't entrust it to anybody who can and will decide that your money is their money, because they always do.
Look at Social Security. Your taxes were supposed to go into a blind trust -- until the criminal shyster politicians passed laws allowing them full access to raid your retirement accounts (and then blame for you (the entitled) for ever believing you "deserved" to retire, at least in your lifetime.
Look at the 401Ks. Most lost between 40 and 50-pecent in the great crash of 2008. Why? Because professional speculators and money managers were allowed to expose your retirement to high risk investments like subprime loans, derivatives, and hypothecation.
And now the FED is destroying the value of money by printing trillions and trillions of it, and flooding the world with free money.
Those responsible must pay.
Pensions? There will be no pensions.
Presidents starting with Nixon raided Social Security "surpluses" to fund the Vietnam War. President Reagan used the "surpluses" and then the whole of Social Security to fund his "Morning in America". Pensions have been going down hill ever since. That is why most corporations don't offer pensions anymore.
Social Security didn't become a PONZI scheme until the government started raiding the fund to pay for its extravagant life style and things that had nothing to do with retirement, like $4,000.00 gold plated toilet bowl seats for nuclear submarines.
When the FED stops or is stopped from spreading trillions of phony, printed money around (money it doesn't have), this whole economy will crash overnight, just like all PONZI schemes eventually do. This crash will be world wide.
The numbers game you never hear about, about how the pool of people needed to sustain the PONZI scheme is just that. Except you also need to add all the unemployed and under-employed, people dropping out of the workforce because they know it is a just bald-faced lies, propaganda and debt serfdom. The country has gone from pensions, to no pensions, and lies about 401Ks being pensions. And any pensions there are have been "under-funded" -- stolen from. There are no pensions. I don't know why the government or Wall Street brings the subject up anymore.
The numbers game are all those millions of Americans who are only marginally employed thanks to the lie that we are experiencing a "Recovery". They can't even afford the basics -- a roof over their heads, food, clothes. A pension, like affordable health care, is a luxury that only rich people have.
The dollar game, the PONZI scheme pensions have become, is just another lie. The truth is how the value of the dollar is falling faster than income is rising. The value of the dollar has fallen 98-percent since 1913. Wait until fiat currency of the dollar collapses. Wait until the USD as the world's petro dollar goes away. Wait until the dollar as the world's reserve currency goes away. Pensions? In a Banana Republic?
Right now your money is earning negative interest due to ZIRP (zero interest rate policy). Any money placed in bank savings accounts, CDs, or anywhere is going backwards in value. At least you can get at the money stored "under a mattress" and you have gotten it away from the TBTF banks and government.
The rest of this nonsense isn't even worth replying too. Lie to your children, too do you, Wall Street? What a complete loser this government is.
"Contribute to the match and then some" slide. I heavily disagree with the notion you need to save 15% to live like you do now comment. that's simply a misguided statement as it only accounts for one variable and doesn't account for when you start saving, how much the match is, among other things. It also doesn't account for whether or not you'll still have debts in retirement, if the house will be paid off, if you'll even live in a house, if you'll downsize, etc. etc. I agree with saving to get the full company match, but saving more than that becomes a debatable area.
Other than that, the points are pretty basic. By this point in time, most know they need to save and do some soul searching and other research on what they'd like to get out of retirement.
Democrats have already, yes have already, proposed pretty much just taking your 401Ks and IRAs. They have proposed just taking it by "trading it" for a guaranteed Social Security like payment in retirement.
This is YOUR Democrat party! And really should this really come as a surprise? They don't like success, they don't like anyone being able to have more than anyone else, and most important THEY LOVE DEBT and DEFICITS and will find that THEY will have to pay for their national distruction some how. What better way than to just take American Savings.
The absolute best way to avoid a disaster with a 401K is not to get involved in the first place. There are better and safer places to put your money where you don't get charged fees even when your account lost money, and that also provide better tax sheltering.
Stop buying in to the Wall Street lie about helping you with your retirement plan, their real interest is in helping themselves to your hard earned savings through fees and other hidden costs!
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[BRIEFING.COM] The stock market punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
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