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Author: bighairymike Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 744812  
Subject: Re: New National Retirement System Date: 11/16/2012 11:52 AM
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Such "reforms" would effectively end private retirement accounts in America, Crone warns. "These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system."

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That is absolutely terrifying. I figure after tax accounts will be safe from confiscation, at least for a lot longer time than IRA's. Even Greece hasn't got around to confiscating assets AFAIK.

Starting two years ago, when I got past the penalty for under age 59 1/2, I stared taking $40K a year from my 401k Rollover account even though I don't need the cash. I figure rates are going up and drawing down a little at a time to stay mostly in the 25% bracket is a good move. And it will cut down on RMDs later when rate will be really high.
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