In this day and age where things are happening that no one could have imagined happening just a few short years ago, do you think your IRA and 401(k) plan will always be yours? Do you believe that your children will be able to collect their Social Security?
Let me put it this way. The Department of Labor and the Treasury Department are exploring the idea of using your retirement accounts and to replace them with yet another version of a Social Security-like retirement program, or ‘revenue stream’ as it is referred to.
Some food for thought:
“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it.”
Frederic Bastiat
Right now, they’re toying with the idea. But from here, it looks like the compass they’re following.
Related Links:
- Jan 8, 2010: http://www.businessweek.com/investor/content/jan2010/pi2010018_130737.htm
- Jan 14, 2010: http://boortz.com/more/newsletter/011410_retirement.html
- Feb 3, 2010: http://boortz.com/nealz_nuze/2010/02/the-government-wants-your-reti.html
- From the Dept of Labor and Dept of Treasury: Request for Information Regarding Lifetime Income Options for Participants and Beneficiaries in Retirement Plans
