President Obama and other liberals want to limit your ability to save for retirement and perhaps loot your retirement account to pay for government programs. This sounds ridiculous, but even though the media has paid little attention to it, there seems to be a well-orchestrated drive on the left to loot retirement accounts to cover the increasing cost of government. Mr. Obama has made a budget proposal that would cap individual retirement accounts (IRAs) at $3 million and generate an additional $9 billion in federal revenues. This effort seems to be prompted by revelations that
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Most of us don’t like the idea of the federal government and the politicians that run it being in control of our retirement funds. That’s why we put money into vehicles such as 401ks, Roth IRAs, IRAs, etc., to ensure that there will be cash available when we are too old to work. Unfortunately, there is some indication that some politicians would like to seize or take control of tax-deferred retirement plans and divert the money to their pet projects. Naturally, many of you are wondering if there are alternatives to 401ks, where you can
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One basic economic survival skill that everybody needs to master in today’s world is the ability to function in today’s economy without a bank account. Everybody needs to do this because it is entirely possible that you will find yourself without a bank account in the near future. There are several reasons why you need to seriously consider the possibility of not having a bank account. Changes in the banking industry make it harder for working people to get or keep bank accounts. The growing number of fees attached to bank accounts often makes it
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The key to your family’s financial survival is your assets, namely your money and your property. Therefore, protecting your assets must be one of your family’s top survival priorities. Unfortunately, many preppers put far more thought and effort into physical survival (storing food, etc.) than into protecting assets, even though protecting them is often just as important. There are two major threats to your family’s assets in today’s world: confiscation and inflation. Confiscation means that government will try to seize all or part of your funds through taxes or simply by taking it. Confiscation isn’t
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If you listen to the financial industry’s propaganda, you might believe that having a poor credit score means you will end up sleeping under a bridge and foraging for food in garbage cans. Nothing could be further from the truth. It’s fairly easy to live with a poor or even a bad credit score; in fact, tens of millions of Americans are doing it. And guess what? The vast majority of those people have homes, cars, jobs, and washing machines, just like the rest of us. This doesn’t mean that a credit score isn’t important.
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Educating children for economic survival can be very difficult, especially in a society where most adults don’t even know how to survive or thrive economically. Instead, most adults go through life making financial mistake after financial mistake that leaves them unable to save money or even pay the bills. This problem begins in childhood because most children learn little or nothing about money. They grow up thinking “money is something I ask Mommy and Daddy for” and “Mommy and Daddy will always be there to take care of me,” and they keep that attitude all
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There are ways that you can save for retirement without relying upon plans like 401ks, Individual Retirement Accounts (IRAs), and Roth IRAs. To be honest, these plans are not a very good deal for most Americans, and they could be subject to government confiscation at some point in the near future. That means that the lack of a 401k or IRA should not be an excuse to not to save for retirement. The truth is that Americans had little or no trouble saving for retirement before these plans existed. In fact, many Americans who are
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Putting off starting a savings program until you pay off your debts is one of the worst financial moves that you can make. Waiting until your debts are paid off to start saving is a good way to ensure that you’ll never start saving and will always be in debt. The truth is that most of us will always have some debts, whether it’s credit cards, a mortgage, car loans, or student loans. If you make debt an excuse not to save, then you’ll always have an excuse not to save. You’ll never get into
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While the main purpose of your land probably depends on how much land you have available and what you are particularly talented at cultivating, almost everyone could stand to utilize spare space to bring in some extra income. In such tough economic times, looking beyond traditional means of income is increasingly important. Petting Zoo If you have a variety of animals on your land—or you would be willing and able to—consider setting up a small petting zoo. If you live in a remote area surrounded by farms, this may not be a viable option for
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Americans have over $3.1 trillion stashed in their 401(k) plans; billions more reside in IRA accounts and other private retirement savings accounts. The government would love to get their hands on that money, and they have a number of perfectly legal options for stealing your retirement cash. Yet until recently, stealing that money was viewed as crossing the line. Now, new government proposals are putting some fire behind the idea that your money might as well be Uncle Sam’s money – and the sooner, the better. The drive to steal your retirement savings Our government
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