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Trump looking at RE-DOING and IMPROVING Americas "Retirement Accounts"... WHAT a GREAT IDEA !!
Today 10:54 am
Social Security was originally built for an America where people worked for 30 years, at the same company, and retire from that company... as most of us know the "TRADITIONAL" pensions are GONE... BUT, TRUMP is looking SERIOUSLY at RE-INVENTING them... and it SOUNDS GREAT !!
It's based on an Australian blueprint, About 54 million Americans have no access to any kind of employer-sponsored retirement plan, according to data from the Economic Innovation Group. Minority workers bear a disproportionate share of this burden. About 63% of Hispanic workers, 52% of Black workers, and 44% of Asian American workers have no access to a workplace savings plan. So, HOW will it work?
1) Keep Social Security as the foundation. The executive order directs the Treasury Department to launch a new website — TrumpIRA.gov — by January 2027. That’s timed to coincide with the launch of the Saver’s Match. The site will function as a marketplace. Workers without employer-sponsored plans can browse vetted, private-sector IRAs and filter options by cost, minimum contribution, and minimum balance. The Treasury will vet the plans that appear on the site. The order also directs the Treasury to issue guidance for private-sector donors who want to contribute directly to workers’... Currently, nearly 78% of companies with nine or fewer workers don’t offer a retirement benefit at all !!
2) Create a portable retirement account (IRA) that belongs to the worker, not the employer. A provision in the Secure 2.0 Act of 2022 — called the Saver’s Match — takes effect in January 2027. It directs the federal government to match up to 50% of retirement contributions on a maximum of $2,000 per year, for single workers earning under $35,000. With MORE being considered.
3) Require (or strongly) encourage automatic retirement contributions into privately managed investment accounts ! Also, a Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial adviser (That’s twice as much)! If you’ve got $100,000 in investible assets, you qualify for a free appointment with a vetted financial advisor in your area.
4) No more Obama era investing in "Savings Bonds"... The Treasury and the National Economic Council is required to draft legislative recommendations that could expand the program further — potentially including automatic enrollment and broader income eligibility for the match. WHAT'S MORE, it puts everyone on a more level playing field... AT LEAST everyone will be able to put money away, have it conservatively invested, and make for a MUCH better chance of a Healthier and Happier retirement !!
https://www.msn.com/en-us/money/savinga ... r-AA26OTaO
It's based on an Australian blueprint, About 54 million Americans have no access to any kind of employer-sponsored retirement plan, according to data from the Economic Innovation Group. Minority workers bear a disproportionate share of this burden. About 63% of Hispanic workers, 52% of Black workers, and 44% of Asian American workers have no access to a workplace savings plan. So, HOW will it work?
1) Keep Social Security as the foundation. The executive order directs the Treasury Department to launch a new website — TrumpIRA.gov — by January 2027. That’s timed to coincide with the launch of the Saver’s Match. The site will function as a marketplace. Workers without employer-sponsored plans can browse vetted, private-sector IRAs and filter options by cost, minimum contribution, and minimum balance. The Treasury will vet the plans that appear on the site. The order also directs the Treasury to issue guidance for private-sector donors who want to contribute directly to workers’... Currently, nearly 78% of companies with nine or fewer workers don’t offer a retirement benefit at all !!
2) Create a portable retirement account (IRA) that belongs to the worker, not the employer. A provision in the Secure 2.0 Act of 2022 — called the Saver’s Match — takes effect in January 2027. It directs the federal government to match up to 50% of retirement contributions on a maximum of $2,000 per year, for single workers earning under $35,000. With MORE being considered.
3) Require (or strongly) encourage automatic retirement contributions into privately managed investment accounts ! Also, a Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial adviser (That’s twice as much)! If you’ve got $100,000 in investible assets, you qualify for a free appointment with a vetted financial advisor in your area.
4) No more Obama era investing in "Savings Bonds"... The Treasury and the National Economic Council is required to draft legislative recommendations that could expand the program further — potentially including automatic enrollment and broader income eligibility for the match. WHAT'S MORE, it puts everyone on a more level playing field... AT LEAST everyone will be able to put money away, have it conservatively invested, and make for a MUCH better chance of a Healthier and Happier retirement !!
https://www.msn.com/en-us/money/savinga ... r-AA26OTaO
AMERICA, and AMERICANS, NEED to WAKE up… There is NOTHING “Democratic” about the CURRENT American “Democrat Party”! THEY are more an amalgamation of Totalitarian Marxists, Socialists, Communists, and Globalists… who are BENT on TAKING, and then KEEPING power... & where ultimately the American PEOPLE will have NO SAY AT ALL in how we are GOVERNED... and our "Democracy" will be DEAD!!