Other Voices

IN Voices

Feb 9, 2014 @ 12:01 am

Little love for myRA

Washington reporter Mark Schoeff Jr. took the pulse of advisers after President Barack Obama floated his idea to help low-income Americans build nest eggs through so-called myRA retirement savings accounts. A number of advisers were dubious of the plan, though others found some value in it. Online, readers mostly voiced skepticism.

Bonds at this juncture? Right! Another outstanding investment, brought to you by the U.S. government!”

— Michael_Mattes

So no conflict of interest in the government promoting a retirement account that contains only government bonds? Fine, add another retirement account to the alphabet soup. Maybe a few more will save, and if so, great.”

— Shawn_Brickler

MyRA already exists; it's called Social Security! Maybe the POTUS & crew should work on fixing that horrific program before starting another one!”

— Marcus Crawshaw

Anything our "Commandeerer' in Chief suggests is a nonstarter. I quit listening to him shortly after he was elected the first time and haven't found it necessary to start listening now as he tries to salvage his legacy.”

— Jeb Clarkson

As opposed to the last Idiot in Chief, whose hands-off approach led to TARP and the worst financial situation since the Great Depression.”

— AssnapKined

I have a concern with: "Enrollment would be voluntary, and tax-free withdrawals could be made at any time, according to senior administration officials.' How does being able to withdraw at any time help with saving for retirement? Shouldn't we encourage people to save in a retirement account?” — Joey_Loeffler

The only difference is that Obama is creating a new market for buying the government bonds to fund his overspending AND the government gets their grubby hands directly on the people's money.” — Crystal Thies

You do realize the deficit has shrunk at a faster pace under Obama since any president since Ike? Not that I think he is a great POTUS, but perhaps you should be more honest in your assessment.” — nerisdetum

Here are the facts: The national debt six years ago today was $9.4 trillion. Today, $17.3 trillion, an 84% increase, occurring almost entirely on the current administration's watch. In the four years prior to 2008, it went from $7.1 trillion to $9.4 trillion, a 32% increase, and in the four years before that, $5.8 trillion to $7.1 trillion, a 22% increase (and all while fighting the war on terror).” — AdvisorGuy

0
Comments

What do you think?

View comments

Recommended for you

Featured video

Events

Are investors getting complacent?

Tom Florence, CEO of 361 Capital, discusses growing investor complacency and why he thinks overconfidence might be creeping into adviser and investor decision making.

Latest news & opinion

Nontraded BDC sales in worst year since 2010

The illiquid product's three-year decline is partially due to new regulations and poor performance.

Tax reform debate sparks fresh interest in donor-advised funds

Schwab reports new accounts up 50% from last year, assets up 33%.

Nontraded REITs to post worst sales since 2002

The industry is on track to raise just $4.4 billion, well off the $19.6 billion it raised just four years ago, as new regulations hinder sales.

Broker protocol for recruiting a boon for clients

New research finds advisers whose firms have joined the agreement take better care of customers.

Meet our 2017 Women to Watch

Introducing 20 female financial advisers and industry executives who are distinguished leaders, advancing the business of providing advice through their creativity and hard work.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print