- Nov 8, 2012
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I'm curious what others here think of his recent proposal.
As a finance person myself, I'm actually pretty torn. On one hand, I'm a huge advocate for being prepared for retirement. On the other hand, it just looks like more of the government digging into our wallet. You can say it's to help people retire - but Isn't that what social security is for? Yes, that is what social security was intended to be for.
First and foremost take it for what it is: The default action of the myRA program will buy treasury bonds. What that is is obvious -- it's a scumbag way of getting people to give the government more money. Fin. It's taking advantage of people who don't look at their paycheck options and pulling directly from their paychecks.
I don't disagree - most people don't do enough research about financial options. But that simply comes from not educating themselves enough. We can't fix that by making people shit investment accounts for government bonds. We CAN fix that by fixing our education system and instead of requiring Physical education and electives for 4 years in high school have a mandatory year of Finance 101. Is that too much too ask?
Article for reference: http://finance.yahoo.com/news/obama-hopes-myra-first-step-081739707.html
As a finance person myself, I'm actually pretty torn. On one hand, I'm a huge advocate for being prepared for retirement. On the other hand, it just looks like more of the government digging into our wallet. You can say it's to help people retire - but Isn't that what social security is for? Yes, that is what social security was intended to be for.
First and foremost take it for what it is: The default action of the myRA program will buy treasury bonds. What that is is obvious -- it's a scumbag way of getting people to give the government more money. Fin. It's taking advantage of people who don't look at their paycheck options and pulling directly from their paychecks.
I don't disagree - most people don't do enough research about financial options. But that simply comes from not educating themselves enough. We can't fix that by making people shit investment accounts for government bonds. We CAN fix that by fixing our education system and instead of requiring Physical education and electives for 4 years in high school have a mandatory year of Finance 101. Is that too much too ask?
Article for reference: http://finance.yahoo.com/news/obama-hopes-myra-first-step-081739707.html