Obama's MyRA

I have an old acquaintance named Sam who has a hell of a deal for you.

Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity.

Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return.

Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be losing some money. But don’t dwell on that too much.

And, rather than invest your funds in productive assets, Sam is going to blow it all on new cars and flat screen TVs. So when it comes time to make interest payments, Sam won’t have any money left.

But don’t worry, he still has that good ole’ credibility. So even though his financial situation gets worse by the year, Sam will just go back out there and borrow more money from other people to pay you back.

Of course, he will be able to keep doing this forever without any consequences whatsoever.

I know what you’re thinking– “where do I sign??” I know, right? It’s the deal of the lifetime.

This is basically the offer that the President of the United States floated last night.
 
emptyeternity said:
I have an old acquaintance named Sam who has a hell of a deal for you. Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately... but he's trying to make a comeback. And Sam is prepared to float you a really great investment opportunity. Here's the deal he's offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return. Granted, the rate of return he's promising doesn't quite keep up with inflation. So you will be losing some money. But don't dwell on that too much. And, rather than invest your funds in productive assets, Sam is going to blow it all on new cars and flat screen TVs. So when it comes time to make interest payments, Sam won't have any money left. But don't worry, he still has that good ole' credibility. So even though his financial situation gets worse by the year, Sam will just go back out there and borrow more money from other people to pay you back. Of course, he will be able to keep doing this forever without any consequences whatsoever. I know what you're thinking- "where do I sign??" I know, right? It's the deal of the lifetime. This is basically the offer that the President of the United States floated last night.
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More IRAs are eventually good for business. Period. Political screeds belong on a diff thread.
 
emptyeternity said:
Not politcal, truth. To not see it and hide behind "its good for business" excuse shows you don't have your client's best interests at heart. What person in their right mind would tell someone this was a good idea for retirement?
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Hey c'mon it's 25 bucks a week or whatever it is, maxes out at 5k. No biggie, but for some people it could be a start. Then, we show them how to make that 5k work for them. Pretty easy sale when they already have a start on it. Any saving beats zero savings. Investing beats treasuries, of course.
 
I am confused what is truely new about this. I can go to the local bank and open a Roth IRA savings account $25 down contributions of as little as I want also secure. Why does he pick these values except that it can be done without Congressional approval.
 
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