Rescuing Retirement Flaws

Tony James, Blackstone chief operating officer and “Rescuing Retirement” co-author, was on CNBC today pushing his Guaranteed Retirement Account (GRA) proposal:
.

.
What the panel seems to have missed…


.
Get rid of the 401(k) deduction! How would that play with the CNBC viewership if anyone brought it to their attention?
.

.
In theory you are not supposed to be able to get at your 401(k) until age 59-1/2 while distribution rules are similar for all pensions (defined benefit and defined contribution) . So where is the backup for this claim? Is the difference due to fees foisted on ignorant financial consumers?

One response to this post.

  1. Posted by skip3house on February 5, 2018 at 6:47 pm

    “….. Is the difference due to fees foisted on ignorant financial consumers?….”
    …..better to have self responsibility with ignorant consumers than with ignorant politicians and their systems feeding the ‘connected’.

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: