The Great American Do-It-Yourself Retirement Fraud, Brought to You By Big Finance & Co.

[ceonupe]

11. The only people

I see wanting to take over private accounts are those on the far left that want to use the trillions in them to solve government funding issues for government pensions and social security.

While there are some places that charge higher fees we went with one that had low fees.

Yes you may get less return than inflation in some cases but that is also related to the risk you are willing to put your money at. How do you think you grow money in a retirement account outside of putting in more money you risk the money in it investing in companies hoping to make more than you invested.

Banks pay very low rates for low risk investments that should not be a surprise that's how it works.

Oh and yes my wife does have an IRA at Edward james and pays pretty low fees. I have one at an online brokerage and have little fees as well but don't do much trading (I admit it looked cool but after I had a friend lose lots of money playing like Vegas I realized I don't know enough to be of benefit to myself tradein g so I use it to hold longer term positions of established companies that pay a dividen, (for me its coke, pharma, gas/oil, Disney) ill admit I had Sony stock from a youth but I sold it for apple stock when I got my first gen iphone purely on emotion and bought apple, once apple got really high I sold it only to see it go even higher lol)

Good luck to you and continue to invest in yourself. Some of the happiest people I know left big buck corporate jobs to run small businesses they were passionate about and became such great local people. These after career jobs/small business provide good income and flexibility and help the local community.

One thing is for sure at age 31 I don't expect for SS to be around in the same form when I reach eligibility age. So I have a couple of things to help me 401k, home almost completely paid off (thanks Dave Ramsey!), low personal debt(thanks Dave Ramsey!) a profitable business that is sellable and money left over to donate to groups I support that do good. (Most of my money and time go to orginizations that help at risk youth minority males 6-25yrs old)

While I'm on my tangent I recommend that you look at Dave Ramsey if you have not already. Gaining the piece of mind of being in more control of your money is very calming and almost euphoric. As you start to pay down that debt it starts snowballing. I had to give up my Mercedes AMG while my wife keept her new car(this was in 2009) (she was not buying into the system at first) now that her car is paid off she is not even wanting a new car. Being able to write those big mortgage payments (3-5x what is due now) gets us hype. Yes we cheated when we bought an SUV but we bought it used we needed the space as we often take others children on trips and to and from functions.

Now I know why those people loving in paid for trailers In mid Florida driving paid for used cars are so happy. They have freedom and soon we will have ours.

Again good luck and sorry for the off topic stuff but I had to share as I know a lot of people on DU discount Dave Ramsey because of how it is big in churches and is on fox business channel. Get pass that and you will find his advice way more sound than "suzzie".