AARP Baby Boomers (Sean McCabe)
Baby Boomers are Facing Retirement Uncertainty.

Retirement Savings for Baby Boomers

The systemic transfer of wealth away from retirees through their third-party fiduciary administered and self-administered accounts has been well documented by boom to bust cyclical capital markets flows driven by the central banking and political professionals.

We clearly understand that banks, investment advisors, lawyers and fiduciary always get paid no matter what the investment strategy outcome results are for the saver. Therefore we should look for alternative solutions for managing our retirement wealth. Instead of paying professional risk advisors to lose our money for us, the solution is to re-employ our community banks and those folks who actually live in our communities with us to reinvest our resources back into local initiatives instead of sending our money to major banking centers and the products they promote. The impact for local entrepreneurial led companies to access capital to establish and grow local jobs would immediately spur economic velocity and increase employment for our citizens.

Understanding that just as lawyers transfer our money to their pockets through protracted and unnecessary litigation tactics, bankers demand/suggest/recommend buy and hold schemes to transfer your financial resources to their accounts then when the cycle changes, tell you to ride it out. Smart traders buy into and exit the capital markets several times a day so why would they insist that you leave your under performing cash assets in their under performing account. Pull them out and place your cash assets somewhere else!

The continual gutting of union pension funds through bankruptcy by corporations and then political life-preservers insure the management teams receive their compensation through retention bonuses as the lawyers get paid through preferential repayment schemes is tantamount to high-class welfare that excludes the working class. The solution is to penalize corporations for the benefit of the retirement savers and require that any retirement capital including stock equities or unfunded obligations due the workers whose savings are with their employer be first paid before any corporate bills or senior level compensation be paid. Accountability and stewardship are real words that should mean something in boardrooms.

Offshore corporate dollars should be brought back to the US tax-free without any penalty to the corporation with the caveat that all money brought back must first be paid by “special dividend” to any pension accounts whose shares are held by a fund, fiduciary or self-directed account and that no distributions may be made to funds general partners, custodial banks or lawyers representing any ERISA or Taft Hartley investor. If there is 2.5 trillion dollars held offshore this money gets repaid to those savers for their retirement savings account and the balance is placed with the Pension Benefit Guarantee Corporation to insure any future failures of pension funds are protected. This special dividend would not be taxed under the tax deferral mechanisms already in place and no political, banking or legal interest could benefit.

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