Fund a Roth even if you make too much money
04-14-2014, 03:38 PM
#11
Gets Weekends Off
Joined APC: Dec 2007
Position: Retired
Posts: 404
This was actually floated as a trial balloon in 2009 by a Congresswoman from New York. A lot of people's retirement accounts were in trouble and the plan they proposed was to let the government take over all of the accounts and guarantee you a modest return (3.5 to 4 percent). They even trotted out a 62 year old who said that their account was "devastated". This plan would let them retire at 65 if it had been in place. Turns out they were 80 percent in to stocks. The ultimate plan was to "borrow" from these funds and replace them with government bonds just as they did with Social Security. Thank goodness it died on the vine. Just remember, they will never let a crisis go to waste.
04-14-2014, 03:43 PM
#12
New boss = Old boss
Thread Starter
Joined APC: Mar 2005
Position: Ca B737
Posts: 2,762
This was actually floated as a trial balloon in 2009 by a Congresswoman from New York. A lot of people's retirement accounts were in trouble and the plan they proposed was to let the government take over all of the accounts and guarantee you a modest return (3.5 to 4 percent). They even trotted out a 62 year old who said that their account was "devastated". This plan would let them retire at 65 if it had been in place. Turns out they were 80 percent in to stocks. The ultimate plan was to "borrow" from these funds and replace them with government bonds just as they did with Social Security. Thank goodness it died on the vine. Just remember, they will never let a crisis go to waste.
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