Recently, we’ve seen multiple news stories suggesting buying a home and having a mortgage is not necessarily a good investment, and when making the decision to buy a home, you really should not consider it as an investment vehicle since your “rate of return” would suck. Why has this become a news-cycle theme all of a sudden?
This week, the U.S. Treasury will ask for comments on the conversion of private IRA and 401(k) funds into government annuities backed by Treasury bills. You’ve been doing a good job saving for retirement, and President Obama’s administration sees your investments as a solution to their problem.
This is unbelievable. Since Congress has totally screwed up Social Security and refuse to do a damn thing about it, now they are looking for more cash to fund their out-of-control spending. Since we know we can not depend on Social Security for our retirement, many smart investors are depending on 401(k) accounts, IRAs and Roth IRAs.
All three offer tax breaks either now or in the future and get this, a couple of Democrats don’t think they are getting enough for their investment. Their investment? They have the gall to think that $80 million in tax breaks provided to 401k investors is an investment. It’s our damn money!