Do you ever get the sense that something just isn’t right with the markets and the political environment that we are in? It seems that every time we turn around there is another headline in the 24-hour news cycle that gives us more uncertainty about the future.
It may lead you to believe that when it comes to your money that there are more things out of your control than there are in your control. With geopolitical events, terrorism, tax rates, Obama Care, Social Security benefits, stock market volatility, interest rates, (and the list goes on and on) what do you really have control over?
What I believe to be true is that our money system (the stock and bond markets and banks) has become so intertwined with the government and the Federal Reserve System that we have in essence given a handful of political leaders control over our financial future.
This is the same government that has over $18 Trillion in debt that is growing and projected to be above $20 Trillion by the end of 2015.
I am sure you would agree that the debt is outrageous but the more concerning aspect to this is that it is still growing and there is no evidence of the spending to stop.
So the question becomes, where will the money come from to pay for all of this debt and spending? The government has proven to us that they plan to continue spending and their talking points to increase revenue translates into more TAXES. Government Revenue = Taxes on you!
Therefore, it is my belief that there will likely be dramatic tax increases in our future along with an overhaul of retirement plans such as 401k and IRA accounts placing more control into the government’s hands.
Imagine the government taking over the management of your retirement savings and increasing your tax liabilities! Could it happen?
I personally believe that it can happen and there is current legislation pending with the Department of Labor that will dramatically impact your retirement savings and your access to financial advice if the regulations are implemented.
The question now is what steps are you going take to grab control of your financial future?
The reality is that you don’t have much control over what happens to your money but you do have some control over the decisions you make with your money. So what can you do?
- Seek guarantees to help protect the purpose of your money
- Remove cash from banks and consider a shift to alternative cash strategies
- Stop funding government-sponsored retirement accounts and use alternative programs
If you have questions about this, feel free to reach out to me.