Teen's Roth IRA Can Be Savvy Investment in Future
The federal government is currently spending trillions of dollars it doesn't have. The federal government is planning on spending trillions of dollars in the future that it doesn't have now, and won't have in the future. Do you think this will cause runaway inflation? Want kind of investment will survive this?
Keep in mind, that that the social security tax, which is money taken out of your paycheck to fund your retirement, is not put into a retirement fund. It is put into the general fund, so that it can be spent on raises, or additional interns, or future stimulus bills or whatever other pork project the politicians get bribed to fund.
Also keep in mind what can happen to your own private retirement account.
http://www.washingtonpost.com/wp-dyn/content/article/2008/11/20/AR2008112003812.html
Argentina to Nationalize Pension Funds
Argentina's Senate on Thursday night gave final approval to the government's plan to nationalize the private pension system in an attempt to protect retirement investments from the international financial crisis.
Wouldn't it be nice to believe that the federal government will balance the budget and not allow debt to overwhelm the country?
Don't hold your breath.
After spending almost a trillion dollars on the stimulus / bailout (welfare for the wealthy) to create an economic recovery that didn't include unemployment, homelessness and business bankruptcy, Barack Hussein Obama is setting up a committee to figure out who in the government is spending trillions and getting nothing for it in return (other than bonuses for people who have looted their companies and then looted the country).
The obvious answer to retirement planning is to get some kind of union job working for the government. The unions won't allow the government to fire any of the union workers. And since you can't get fired, you don't have to work very hard. So you can keep this job until they cart you off in a box.
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