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Governor wants to help you save for retirement how well with automatic -- some are acting -- that this is the best thing since sliced bread.
But we have the little three point have done some digging to find out the truth about these -- a -- it's.
And what it means for your next day for more we're joined by Marcia -- founder and managing partner of the Wagner -- group welcome great to see you.
Thank you for having me I I think this is such an interesting topic because everybody seems to be embracing this idea of the auto IRA.
Look at possibly be wrong with people saving more for retirement.
The question is how.
Of people seeking more free time and is it correct to mandate essentially that people safe -- -- -- and if so to what degree.
Apparently from an individual's perspective there are ready mandated to save for retirement through Social Security.
Through the -- attacks on employers and employees people are saving for medical expenses in for retirement right -- -- And I don't have any choices and that obviously -- -- have prices and whether you participate in your say your employer's 401K.
But these auto IRAs they would have to be put in place it doesn't law would -- -- the one that's been suggested drawn up.
These other problems with this planet seems to me everybody got so caught up in the rhetoric of fixing the big retirement savings problem in this country.
But it's like this -- does make certain requirements especially the employers who may not have the time to give the setting things up.
I think is a very large global question which is -- the -- should be in the business of mandating -- private pension schemes set up such as automatic IRAs.
And my concern -- that is the government should clearly.
People to do what the government thinks is in societal interest.
Through tax credits -- saving credits to tax deductions through tax free growth.
Eight -- in tax qualified plans are in IRAs.
But does holding different from mandating.
That the private sector adopt automatic IRA is.
That goes far astray from the capitalistic.
Society in which we live where -- and days like this.
Really seem to be far off -- Moreover there is.
The a concern that I have that this it could well crowd out.
He then robust.
In the very creative if it perfect 401K industry that is developing well -- nice it's got a long way to go.
Taylor -- diet borrowing -- are by no means perfect I've -- I you know.
What questions with this is how are they -- in best so what would be my options to invest in if I had not auto IRA.
-- would be a deep thoughts and indeed follow B to -- capital preservation.
Fund which -- I could be eight stable value money market.
Or something new called -- treasury retirement bind.
This is a new type of government debt it's unclear exactly what it would do what type of rate of return and it would have.
What function it would step would compete with the money market funds and mutual fund companies would compete with stable value pride -- the insurance industry.
-- what if you live incentivizing.
People to use their retirement savings to fund our growing deficit well mart city that race isn't a great question which is simply.
Is this is still way to pay out some of the government that.
Using the American public's money to do it.
These issues it really should be exploiting created -- -- So.
Do you have a problem with deep bonds or do you not have a problem with -- -- you think there.
Immoral or do you think there as sneaky way for the government to get us to pick up the tab for all the services that we get from government.
I query why they're necessary right now we can invest in government debt in many ways T bills team bonds treasurys -- this many different ways.
What is the reason what does -- ration out.
For this new type of government debt especially given that it is -- -- safe harbor.
To an auto -- IRA.
It's a fascinating topic -- we appreciate your helping us out with -- today thank you.
Thank you very much -- week.
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