The following article is not only a wake up call to employees but also a lesson to young Americans who live life as if they will never face retirement age. The vote that is cast today that embraces big government and banks too big to fail as well as employers who promise the retirement benefits moon, may not be there to fulfill their lofty promises in the future.
With Detroit's retirees facing a 90% cut in their promised benefits, municipalities all around the country should reassess their political and philosophical agendas. Government that is too big to fail may end up being the proverbial "if it sounds to good to be true, it probably is."
Personal retirement accounts, though heavily dependent on the self control of the individual to save and invest wisely from beginning to end of employment, may end up being the most viable option. Trusting the government to look out for the little guy is not a retirement option that I choose to place my bet on.
READ THE ARTICLE, do your own research and make an informed decision (NOTE: This is not an endorsement of Birchgold.)
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