Congress Is Coming for Your IRA

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Protect YOUR Money now

Before its too late!



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The House passed the Setting Every Community Up for Retirement Enhancement Act, known by the acronym Secure, in May. The vote was 417-3. The Secure Act is widely expected to pass the Senate by unanimous consent. While ostensibly helping Americans save for retirement, the bill would actually reduce the value of all retirement savings plans: individual retirement accounts, 401(k)s, Roth IRAs, the works.

The main problem with the Secure Act is that it eliminates the stretch IRA, the fixed star in the financial-planning firmament since 1999. The stretch IRA lets savers leave their retirement accounts to children, grandchildren or other beneficiaries...Congress wants to kill this. The Secure Act gives nonspouse beneficiaries 10 years to pull out all the money in an IRA. The effect would be to make more of an IRA subject to higher taxes sooner, as distributions are made in supersize chunks. As much as one-third more of an inherited IRA would get gobbled up by taxes than under current rules.

When the Tax Cuts and Jobs Act expires in 2025, taxes will rise across the board. If President Trump signs the Secure Act into law, the stage will be set for a taxpocalypse sometime in the next decade....

The insurance industry loves the Secure Act's mandate that annuities be offered as a payout option in all retirement plans. Insurance companies sold more than $230 billion worth of annuities in 2018, and they would like to push that figure higher. The mandatory offer of an annuity is a first step that could lead to the mandatory annuitization of all retirement accounts. This would shoehorn the distributions into higher brackets, accelerate the collection of tax revenue, and eliminate the 'problem' of the inherited IRA. Best of all, politicians would get to accomplish all this without voting to raise taxes.

Here's How You Could Be Affected:
#1: Banks could be leveraged to confiscate and accelerate the Secure Act and begin squeezing your IRA's and 401k's
#2: Your hard-earned life savihgs could be used to out the Greedy Banks or other institutions by implementing this act
#3: These type of accounts would no longer be FDIC insured


The Secure Act would upend 20 years of retirement planning and stick it to the middle class.