My only question is
"WHAT IS NON_ESSENTIAL" I am just getting used to my SSI and military retirement. Neither seem to be very important these days.
Look here to see some liberal thinking to make up shortfalls. I got this in an email from a survivor site alert.
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Here's a little something to brighten your day ...
If the stock market didn't eat your 401k, now the government is seriously considering gobbling up what you have left in one big bite.
Because the Dollar is losing value and the National Debt is at crisis levels, the government is hungrily eyeing one of the last untapped sources of money left... private retirement accounts.
The plan is based on the work of Teresa Ghilarducci, professor at the New School of Social Research, and her idea is to eliminate the IRA and the 401(k) and force those funds into government-run "guaranteed retirement accounts" that buy US Treasuries.
Nationalizing retirement accounts has been done before, most recently by Argentina - and these proposed changes were to be introduced in the 2010 budget (which thankfully never got passed).
The bottom line is these 'guaranteed retirement accounts' would yield a measly 3% annual return, far below the historic 7% average of the stock market where current private retirement accounts invest.
What does this mean in real terms?
Let's say you invest $10,000 for 40 years in a 401(k) or IRA and get the historic average return from the stock market of 7%.
After 40 years you'd have $150,000. With the governments proposed plan paying just 3% over the same 40 years you'd have just $22,000.
So what this means is that you're getting screwed out of $128,000 for the illusion of 'safety'.
If you're like me, then you'll be hopping mad about this and want to find a better way to invest for your future that won't get gobbled up or
frittered away.
I did some digging and found some good news.
There is a government approved plan you can follow that not only saves your nest egg from being nationalized, but it also has the potential to make a whole lot higher return, too.
I highly recommend you take a close look at this right now because the window of opportunity to avoid the government take over of your retirement may be closing soon.
You'll find what you need here...
www.SurviveInPlace.com/nesteggStayin' Alive,
David Morris
P.S. The very worst thing you could do right now is bury your head in the sand and hope for the best. In the last few years the Government has
passed sweeping 'reforms' so don't think for a minute that nationalizing your retirement funds couldn't happen.
Best thing to do, as always, is get prepared and protect yourself and your family - in this case, from financial disaster.
www.SurviveInPlace.com/nestegg