About the Post

Author Information

Jennifer is Co-host of The Story of Liberty Radio Broadcast, video editor and creator, blogger & Web designer for the Story of Liberty. TheStoryofLiberty.net

The Government Wants to “Help Manage” Retirement Accounts.

fed

Retirement Savings Accounts Draw U.S. Consumer Bureau Attention.

The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.

“That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.

The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.

The retirement savings business in the U.S. is dominated by a group of companies that handle record-keeping and management of investments in tax-advantaged vehicles like 401(k) plans and individual retirement accounts. The group includes Fidelity InvestmentsJPMorgan Chase & Co. (JPM),Charles Schwab Corp. (SCHW) and T. Rowe Price Group Inc. (TROW) Americans held $19.4 trillion in retirement assets as of Sept. 30, 2012, according to the Investment Company Institute, an industry association; about $3.5 trillion of that was in 401(k) plans.

Continue reading at Bloomberg: http://www.bloomberg.com/news/2013-01-18/retirement-savings-accounts-draw-u-s-consumer-bureau-attention.html

More:

Advertisements

One Comment on “The Government Wants to “Help Manage” Retirement Accounts.”

  1. gold bullion roth ira November 28, 2013 at 2:25 pm #

    Lastly, you may want to consider an IRA Custodian for safe keeping of your respective gold investment.
    Each SDIRA company is a little bit different on their own process to fund new investments but needs a few things:.
    IRS has set standards with regards to your physical asset’s
    fineness, that will be followed to acquire your
    account investment. Having that in mind, this
    unstable companies are leading us to rethink
    how we can still be at a solid investment within the midst with this market’s challenges.
    In order to get gold as a possible investment, individuals need
    to establish a gold IRA account, where in they can
    start saving for expenses post retirement.

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: