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Thread: The Government Wants to “Help Manage” Your Retirement Accounts.

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    Dolphins9954's Avatar
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    The Government Wants to “Help Manage” Your Retirement Accounts.

    The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

    “That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,”bureau director Richard Cordray said in an interview. He didn’t provide additional details.

    The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

    The retirement savings business in the U.S. is dominated by a group of companies that handle record-keeping and management of investments in tax-advantaged vehicles like 401(k) plans and individual retirement accounts. The group includes Fidelity Investments, JPMorgan Chase & Co. (JPM), Charles Schwab Corp. (SCHW) and T. Rowe Price Group Inc. (TROW) Americans held $19.4 trillion in retirement assets as of Sept. 30, 2012, according to theInvestment Company Institute, an industry association; about $3.5 trillion of that was in 401(k) plans.
    http://www.bloomberg.com/news/2013-0...attention.html



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    MoFinz's Avatar
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    Yeah, cuz they manage all their finances so well.....



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    NY8123's Avatar
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    They can take a dose of go **** yourself from the "anything goes thread" and shove it up their asses if they think they are going to **** with my money. I'll pull every cent out and buy ****ing gold if I have to in order to keep that from happening.

    J.P. Morgan and Charles Schwab tell me all I need to know about this particular act of greed.
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    phins_4_ever's Avatar
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    Quote Originally Posted by NY8123 View Post
    They can take a dose of go **** yourself from the "anything goes thread" and shove it up their asses if they think they are going to **** with my money. I'll pull every cent out and buy ****ing gold if I have to in order to keep that from happening.

    J.P. Morgan and Charles Schwab tell me all I need to know about this particular act of greed.
    You haven't done that yet? Just one advice though: buy gold not just certificates. It's the safest investment.
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