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Carlos pregunto:
How long are you planning to stay here? <a href=" http://michigansportscenter.com/about ">hydrochlorothiazide tablets ip</a> TMC, thank you for your reply. So for the people you’ve described, “income of 30-40k” and with no savings, we already have programs, Social Security and welfare. In this article, Ms Schrager proposes “the government should encourage people to annuitize at least some of the money in their retirement accounts with an insurance company. That might mean favorable tax treatment, or requiring people to buy an annuity.” Ms Schrager is clearly referring to the people who DO gave savings. She is also clearly suggesting that the Federal Government step in with yet more regulation as to how we should manage our savings. I have, on occasion, been contacted by the person you’ve described (low income, no money). I talk to them about budgeting and about how they might qualify for a job with higher earnings. Some of them feel less hopeless after our conversation and are able to follow my advice. I have never laughed at anyone who has asked for my help. I have to add that I think it is amusing that Ms Schrager points to “favorable tax treatment” as an advantage of an annuity. Most of our population- the average person- is unable to fully fund the tax deferred accounts already available to them (401k’s, 403b’s IRA’s, SEP IRA’s, Simple IRA’s) and, most of my truly affluent clients choose to not load up on annuities because the money they later draw from an annuity will be taxed as ordinary incomee (do to LIFO tax treatment). This is useful dialogue for many people tmc, thank you for your comments. |
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