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Missed Fortune – What Will the Government Nationalize Next?

Posted on | May 9, 2010

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Next Up on the Government’s Nationalization Agenda

A crisis is unfolding with dire consequences, though few Americans are aware.

The harsh reality of national insolvency is forcing the government to look for new sources of revenue.

What’s the most logical source? You guessed it: qualified plans, meaning 401(k)s and IRAs, where Americans have saved more than $13 trillion.

Lee Bellinger, publisher of Independent Living, recently published a report entitled “40l(k)/IRA Nationalization Quietly Moves Forward.” His comments are just common sense:

“As the government’s finances continue to deteriorate, the White House and a powerful network of left-wing think-tanks, Congressional activists, and the highly-influential Ford and Rockefeller Foundations are engineering a new regulatory and tax-incentive drive to herd and ultimately force Americans to convert their 40l(k)s and IRAs into government-directed retirement accounts…

“…the extreme tactics used to ram health care nationalization down the country’s throat are a blueprint for what could be the biggest asset grab in history: the nationalization of private retirement accounts.”

It’s only a matter of time. In March of this year, the New York Times reported:

“This year, [Social Security] will pay out more in benefits than it receives in payroll taxes, an important threshold it was not expected to cross until at least 2016…”

Business Week reported that new federal regulations designed to “promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams” would help drive cash into government-controlled entities such as American International Group (AIG), “the insurer that has received $182.3 billion in government aid.”

Bob Chapman of The International Forecaster explains,

“The looting of retirement plans is still in the planning stage, and you’re seeing these trial balloons go up.”

Bottom line: Major congressional overhaul of retirement plans — to your detriment — is something you should be planning for.

Roll ‘em Out!

In light of this crisis, the wisest, most logical decision for you may be a strategic rollout — to transfer your qualified plan funds into maximum-funded, tax-advantaged life insurance contracts, which provide the following benefits:

  1. Tax-free growth
  2. Tax-free and penalty-free withdrawal
  3. Tax-free transfer to heirs
  4. Guaranteed safety of principal
  5. Healthy returns that outpace inflation

If you think you’ll be in a lower tax bracket when you retire, you need to consider what the government is up to and think again.

Taxes will never be lower than they are today, and your dollars will never be worth more than they are today.

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*Life insurance policies are not investments and, accordingly, should not be purchased as an investment

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