Where the money is....

When Willie Sutton bank robber was asked why he robbed banks he said "Because that is where the money is". How things have changed.

The banker's Bank the Federal Reserve is now robbing savers with near zero interest rates. Why? Because that is where the money is. It is a hidden tax. No law was passed. Still you are having the your money stolen through near zero interest rates to restore bank's balance sheets. If you had $300,000 in an IRA (or 401k) earning 5% in 2007 ($18,000 a year with nearly no risk) you are lucky if you earn half that today. That is a $9,000 or more of hidden taxes.

I hope to expose these types of actions and others by the FED and government. Boomers need to be vigilant - because their savings is where the money is. I will also delve into other areas of finances of interest to Boomers.

Saturday, May 11, 2013

The Government has eyes on your IRA

I  told you  over 2 years ago that the government would go after IRA/401k money.  I guess ZIRP  (Zero Interest Rate Proceeds - robbing you of a reasonable return) is not enough.  Be sure when interest rates go up there will be a push by the government to force retirement program funds into government securities at sub par rates.

Here is an article on this:  http://www.economicpolicyjournal.com/2012/12/how-government-is-coming-after-your-ira.html?m=1