Are New Roth IRA Conversion Rules Meant To Be A Short Term Fix For Government Funding? | 20s Money

Are New Roth IRA Conversion Rules Meant To Be A Short Term Fix For Government Funding? | 20s Money: "Government has loosened the rules making it possible for more people to convert their traditional IRAs and 401(k) funds into Roth IRAs.� This conversion essentially means you can pay taxes on the amount then convert it and not pay taxes on it again.

It seems to me that our sly politicians have found a way to boost the revenues for government in the short term.� Since the short term is all that matters when you’re a politician, why wouldn’t you want more Roth IRA conversions?� This doesn’t mean that it is a good thing for you and your money, but it’s surely a good thing for current politicians."

Too many cashing out of 401(k)s

Too many cashing out of 401(k)s: "Millions of Americans who lost their jobs during the recession are faced with the likelihood of being out of work for a long period of time, as the unemployment rate shows little sign of improving soon. Strapped for cash, many are tempted to tap into their 401(k) retirement accounts."

Are they coming for our 401(k)s?

Are they coming for our 401(k)s?: "Zerohedge is panicked that the Treasury wants to take away your 401(k) and instead give you an annuity following a lifetime of contributions. While the document they link to is somewhat more benign that Tyler suggests, it's more an dmore looking like the government wants to help us not make bad choices."

Examining the Impact of Obama's IRA Plan - Financial Planning

Examining the Impact of Obama's IRA Plan - Financial Planning: "With retirement savings dwindling President Obama has proposed as part of the 2011 budget proposal for workers to be automatically enrolled in individual retirement accounts."

Why the U.S. Government Wants to Hijack Your 401(K)

Why the U.S. Government Wants to Hijack Your 401(K): "It's bad enough that we've been forced to bail out Wall Street, but now the Obama administration is hatching plans to raid our retirement savings too.

Both the U.S. Treasury Department and the Department of Labor plan are planning to stage a public-comment period before implementing regulations that would require U.S. savers to invest portions of their 401(k) savings plans and Individual Retirement Accounts (IRAs) into annuities or other 'steady' payment streams backed by U.S. government bonds.�

With $14 trillion fiscal hangover looming, the Treasury can no longer count countries such as Japan and China to be dependable buyers of U.S. government debt. Not only have those nations dramatically reduced their purchasing of U.S. bonds, most of our largest creditors are now actively diversifying their reserves away from greenback-based investments in favor of other reliable stores of value - like crude oil, gold and other commodities."