No. of Recommendations: 4
Read this the other day and the more I hear the more intensely I dislike the direction our country is headed.

Bad enough they want to limit what I can accumulate in my IRA. But reading this article, there are 2 more factors to consider. This article makes it sound like 401ks and 403bs (possible ALL retirement accounts) will be considered in total. The "magical" $3M is for ALL accounts. Easily doable.

But here is the kicker. That $3M magic number is based upon what an annuity would pay out. So if this were in place a few years ago with normal interest rates, the cap would be $2.2M. Not so rich anymore. Then if (IMHO when) we hit Jimmy Carter interest rates, that cap could be well under $1M. Easily reachable by many people.

No, don't see any unintended consequences here. Move along sheeple.

JLC

http://www.usatoday.com/story/money/personalfinance/2013/04/...
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