When this first appeared in our research we couldn’t believe what we were seeing.
This analysis was conceived when we asked the question…What did people do with their money before IRA and 401k plans existed?”
We believe it’s where Americans were lured off track of how to save and protect their money from banks, Wall Street and the Government.
In looking at the failure of our retirement system, and the 10,000 baby boomers a day entering retirement and only half have enough money to last until they die, we asked the question where did we go wrong.
How The Triangle Works
Here is what we see…Take a look at the triangle
Down in the bottom left corner
We will call that 401ks, and IRAs.
Now before 1974 there were no IRAs and 401ks. But then the tax laws changed and through a tax deduction, the Government under the influence of Wall Street lured Americans to take their money out of what were safe places, and through the lure of a tax deduction to put it into risk filled Wall Street retirement accounts.
So now, money in these accounts is locked up for over half a lifetime.
And yes there might be losses, but there are certainly fees in Wall Street plans, over $150,000 in fees according to Demos.org.
USA! USA! USA! Bringing you democracy, or else! there were strains of VD that were incurable, and they were first found in the Philippines and then transmitted to the Korean working girls via US military. The 'incurables' we were told were first taken back to a military hospital in the Philippines to quietly die. – 4um