Posted by Bruce Bialosky at 2:41 am on Aug 29, 2016 Comments Off on California Pension Program Another Government Sham
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It always starts with a bucolic name. Democrats are great at
that. This one is “Secure Choice.” It starts with a good concept —
people don’t save enough for retirement. But then it puts it in the
hands of elected officials and their cronies and, when things go
south, they will point fingers at private enterprise and we will
bear the cost.
As a financial professional (CPA), I advise all my clients to
put money into a pension plan. All professional literature suggests
the earlier you put money into a pension the better off you will be
later. Even if you are getting social security it will not be
enough to support you in your retirement years, and those years are
getting to be longer and longer with increased life spans.
John Chiang, California State Treasurer, has been promoting this
plan and he even has a website pushing it which is funded with your
tax dollars (of course with a picture of his smiling face).
Everything on the website is “peaches and cream.”
The one negative he starts with is how many people don’t have
pension plans. Of course, he starts with the Big Lie. They have
pension plans. They can set up a traditional IRA.… Read More