This from http://www.wsj.com/articles/investin...und-1419898857
Investing in the ObamaFund
Treasury rolls out a new savings plan without a Congressional vote.
Dec. 29, 2014 7:20 p.m. ET
Hey, kids. Uncle Sam has a new investment offer for you. Even if you have several decades of productive work ahead—and thus a long investing time horizon—the White House wants you to consider a retirement plan that will invest in nothing but U.S. government debt.
Any financial professional who advised a young investor to avoid stocks and corporate bonds—and everything else except Treasury bonds—would be sued for malpractice. But asset allocation is merely one of the problems with the new “myRA” fund rolling out from the Treasury this month.
If Obama can do this w/o the congress he can also takover your 401K as has been rumored. I heard a financial advisor say that there are only 2.8 workers for every SS retiree and the number is declining. Washington is greedy for our funds so I have little doubt that he would like to do this.
BTW Treasury is using tapayer dollars to roll out this myRA plan, where was that money hiding in its budget? Or did it just send in a print order?
The similarity with the US and socialist countries is our growing dependence on the federal government for survival (like Obamacare). Don't all democrats have some view of a utopian society? How could anyone be against the deficit/debt if their retirement depended on it?
It may be time to re-read "how to catch wild pigs" it seems that the gate may close in our lifetimes.