Retirement Scams
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Like most people I was told to plow as much money into my 401k pension plan as possible. So like millions of other workers out there, I did as I was told. By 2003 I had accumulated a nice little nest egg...that I couldn't touch. Then one day I was in a bookstore and I happened across a book called The Coming Generational Storm. What I read about 401k's that day made me immediately stop all contributions.
Read more: The Great 401K Scam: Greatest Systemic Financial Hoax Ever Perpetrated
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Last Tuesday, during his “I’m king” State of the disUnion address, the POS introduced a new government scam called the MyRA (My Retirement Account). If you approve of how the feral government has squandered away your Social Security contributions — the SS “trust fund” is just an accounting fiction because the government raids that “fund” for its spending and still manages to run a deficit — then you’ll want to invest in this MyRA scam. Snark.
Read more: Beware Of Obama’s New Retirement Scam: The MyRA
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One of the biggest scams and conspiracies of the modern world has been retirement savings plans. Think of it this way, from the time you start working you get asked to pay into these programs. Of course you don't have to but they make you afraid that you won't have any money when you retire.
Read more: Retirement Savings: One Of The Biggest Scams Of The Modern World
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Last month the Board of Trustees for Social Security wrote in its annual report on the program that the major parts of the greatest Ponzi scheme in the history of the world have run out of money and the rest of Social Security will be completely broke in a few years. The state propaganda ministry dutifully reported these findings, with CNNMoney claiming that, “If lawmakers don’t act, Social Security’s trust fund will be tapped out in about 18 years.”
Read more: Government Social Security Scam Exposed
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I hate writing about finance. The most violent, ugly people in the world work in the traditional finance industry. I write something and instead of responding with a well-reasoned argument, they write things like “James Altucher is a wacko” or “James Altucher is a scumbag”. I’ve written for or appeared on the Wall St Journal, the Financial Times, CNBC, Fox Business, ABC, and many other finance sites. I’ve run hedge funds, funds of hedge funds, I’ve day traded, i’ve run a VC fund. I see what happens inside the system. It’s ugly. And they don’t like you.
Read more: Why Your 401K Is A Scam
Write comment (0 Comments)a secret plan by two or more individuals to do something unlawful or harmful.