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What I read in these stories are that the government wants to supply investors with the OPTION to invest in annuity plans. That’s a far cry from appropriating our personal IRA and 401K savings, isn’t it?
And what one believes about the state of U.S. debt, (and whether it’s a good idea to buy U.S. bonds), is true whether or not our government decides to offer a Government sponsored annuity pension option. You either believe Treasuries are good investment and buy bonds, or you don’t and you don’t invest. Period.
A government annuity OPTION would be just that, an OPTION. There may well be people for whom that option is a viable and sensible retirement plan.
If the U.S. government were to suddenly decree that investments other than the pension OPTION being described are no longer allowed in retirement plans, our whole financial system as we now know it would collapse. Obviously. So, if anyone here believes that this is going to be the case, well, I have some guaranteed to skyrocket Florida condos to sell you! LOL!
[quote=”kordan”]Over the last few months, I have heard from more and more clients how hard it is to send money of larger quantities to Costa Rica. We actually had a client have 3000 euros seized in Customs while arriving from spain. Sure, he got it back after a few days of fighting, but what law did he break?
There are reasons for this.
Including the US governments intent to TAKE OVER 401k and IRA accounts[/quote]I’m sorry, I am afraid I don’t understand your points.
I read both articles closely and disagree with the conclusion that the government intends to ‘take over’ 401Ks and IRAs. Even if this interpretation were correct, (which would require a healthy leap in imagination, in my view), what do IRAs and 401Ks have to do with your client being stopped in Customs with 3,000 Euros?
