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Author: CCinOC Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 741523  
Subject: Re: 401K to Roth 401K conversions Date: 1/14/2013 1:15 PM
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“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.” [...]

“This effort ultimately is designed to grab the retirement nest eggs of America’s senior citizens. This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America’s older citizens,” explains Crone. “This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too.”


I think it's only prudent not to place 100% trust in government action. Look where our government's actions have brought us--up to our eyeballs in debt.

However, a deeper analysis of the hearings on the Hill about what to do about Americans' poor retirement planning skills is less alarming--at least at this time.

http://www.factcheck.org/2012/12/no-government-401k-takeover...
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