You’ve probably been hearing about the new “myRA,” a new government-run retirement account that President Obama unveiled at his State of the Union address and plans to create with a stroke of his pen.
Its primary purpose is to offer a savings option to the 50% or so of U.S. workers who have no access to employer-sponsored retirement plans and have little saved for retirement.
The appeal is that it “guarantees a decent return with no risk of losing what you put in,” according to Obama.
Sounds okay so far, right?
I did some digging into the details to understand more about how this program will actually work… and to help you sort through the pros and cons of programs like this.
Below I’ve listed the good, the bad, and the ugly about this new program. But really, most of the bad and the ugly points apply to all government-run retirement accounts, including 401(k)’s, 403(b)’s, IRA’s, etc. So if you have one of these plans, I urge you to read this today.
[Read more…] “The good, bad and the ugly of the new myRA”
I absolutely did not want to write another book… but I wanted to share with you what changed my mind.
Yup, after months of brain-numbing work and putting in hours that could kill a horse, I just sent the manuscript of my second book off to the publisher. The title is, The Bank On Yourself Revolution: Fire Your Banker, Bypass Wall Street and Take Control of Your Own Financial Future.
It will be published early next year, and there is no doubt in my mind it will hit all the best-seller lists, just like my first book. (Of course, I’ll let you know how you can get an autographed copy.)
This book is incredibly well documented and will blow the lid off the “conventional financial wisdom” and expose it for what it really is – a way for Wall Street and the banks to continue to line their pockets at our expense.
Writing my first book in 2008 was one of the most painful experiences of my life. It was all-consuming of my time and energy for nearly a year. I swore to my husband Larry that I would never, ever again set myself up for the stress of looming deadlines, the agony of the editor’s red pen, and the loss of so many weekends and so much sleep. Nope. Never again.
Then the book hit the best-seller lists. (That was nice and softened the pain a bit.) And we got tremendous response from folks who were thrilled to have discovered Bank On Yourself. (That was even better.)
Are you ready to have the peace of mind of knowing at least a chunk of your nest-egg is in a plan that goes in only one direction…
And has never had a losing year in over 160 years? You can know the guaranteed value of your Bank On Yourself plan at any point in time before you decide to move forward. To find out what your numbers would be, request your FREE Analysis, if you haven’t already.
But then the backlash started. (Not fun at all.)
[Read more…] “Why I swore I’d never write another book”