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NEW CHANGES FROM CONGRESS: https://www.finance.senate.gov/imo/media/doc/EARN%20Act%20section%20by%20section%20summary1.pdf
The “Retirement Savings Modernization Act” would allow 401k accounts to offer Alternative Investments.
The plan “will open the door to higher returns and a more secure retirement for millions of Americans” - and if you’re curious what TYPE of investments would be allowed…everything from private equity, hedge funds, venture capital firms, real estate, real estate investment trusts, commodities, infrastructure investments, insurance products, annuities, and digital assets."
A study from Georgetown found that - from 1990 through 2016 - investors who bought diversified assets had 17% MORE MONEY by the time they retired - AND reduced volatility, while ALSO giving you a HIGHER SUCCESS RATE of not running out of money.
Because of that, Congress believes that individual investors have the right to chose where they’re able to invest for retirement…and, by having more options available...they should, in theory, be able to make more.
OTHER CHANGES:
-Automatic Enrollment.
As it stands right now - most retirement plans are OPTIONAL - meaning, you have to know about them - and WANT ONE - in order to contribute. But, by making ENROLLMENT AUTOMATIC…employees would be enlisted from the very beginning, without any work on their end - UNLESS they want to opt out.
-Larger Tax Credits.
This new proposal would automatically give 50% back up to the first $2000…BUT, it would be given as an investment into your 401k.
-Penalty-free withdrawals under certain situations.
This would allow up to $1000 per year to be taken out, for unforeseen financial emergencies…and, you would have 3 years to put that money back to avoid paying tax.
-Roth IRA catch-up contribution would be indexed to inflation.
This would allow people over the age of 50 to contribute an extra $1000 per year - and, that would increase each year thereafter depending on CPI.
-401K Catch-Up Plans would also increase.
As it is now, those over the age of 50 are allowed to contribute an extra $6500 per year…but, this would create a NEW provision that would allow people over the age of 60 to throw on an extra $1000 ON TOP OF THAT…also indexed to inflation.
-People can “Self-Certify” financial hardship to take out money early.
This new plan would simply create a “self-certify” option in its place, so that people have an easier time getting their money as needed.
Are you reading this? I'm kind of thinking most people never make it to this point. If you happen to be here, what's up - thanks so much, I really hope you enjoy this video. Comment "Great Video, I see what you did there" and I'll do my best to respond to you!
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By Stock Chat

where the coffee is hot and so is the chat

34 thoughts on “Congress wants to reset investing savings at risk”
  1. Avataaar/Circle Created with python_avatars Drudley says:

    You think people will use gasoline in 2060? BWAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!

  2. Avataaar/Circle Created with python_avatars Tavari says:

    Thanks Graham-for breaking it down in lame terms. Thankful-to be retired-and got out-in the nick of time. I have other sources of income. Never trusted Congress

  3. Avataaar/Circle Created with python_avatars YuriGaDaisukiDa says:

    so in a nutshell, the infinite demand exploit will continue to push stocks up forever

  4. Avataaar/Circle Created with python_avatars Eric Bailey says:

    They need to fix social security or allow Americans to invest the money elsewhere. Most people would have done better investing that money they’ve paid out to social security into a diversified portfolio that would eventually pay an annuity.

  5. Avataaar/Circle Created with python_avatars Lazaven says:

    As someone who sells 401ks Roths and traditional IRAs for a living,this is incredibly valuable

  6. Avataaar/Circle Created with python_avatars patrick crean says:

    Damn Graham how is any investor supposed to out perform skyrocketing inflation?

  7. Avataaar/Circle Created with python_avatars Martin Ramirez Mi5 says:

    401K's suck, trust me.

  8. Avataaar/Circle Created with python_avatars The Jaxson Video Blog says:

    Or… And hear me out… OR!!! Employers could pay employees a living wage. Let's make that a law.

  9. Avataaar/Circle Created with python_avatars David Dawkins says:

    Do you recommend maxing out 401k before investing in something like an ETF?

  10. Avataaar/Circle Created with python_avatars Paloma shdez says:

    But it's equally important to save for things you can't possibly predict or even comprehend-the financial equivalent of field mice.

  11. Avataaar/Circle Created with python_avatars ethan ayers says:

    I agree to a point i feel like financial management should be taught in public schools in place of higher math/home eco to help with this huge knowledge gap. i think it's a great reformation but yeah people are either going to destroy their 401k's or out perform. Personally i'd love some mutual fund option from ones employer in assets only accredited investors usually have access too.

  12. Avataaar/Circle Created with python_avatars Jeff Anderson says:

    This is about headgear funds and big investment firms like Blackrock paying off congressmen to increase their participation in 401Ks. This is an awful idea.

  13. Avataaar/Circle Created with python_avatars Smitty Werbenjagermanjensen says:

    well our generation is ……f

  14. Avataaar/Circle Created with python_avatars Lump O' Llama says:

    I’m getting tired of these crazy titles that sound like the world is ending. Good video though

  15. Avataaar/Circle Created with python_avatars caaarbz says:

    Graham please link the study and research on the description I’m fact checking everyone on YouTube especially meet Kevin

  16. Avataaar/Circle Created with python_avatars wbrito8617 says:

    I think ADA

  17. Avataaar/Circle Created with python_avatars james seurat says:

    Great video. I see what you did there!
    I don't know how I feel about the self certification option for hardship withdrawals. I worked with large 401k plans and the participants with the least money were always the ones that abused hardship withdrawal provisions. I know it doesn't sound right to lock up their money but making it easier for people to access their retirement accounts before retirement seems counterintuitive. It should be borderline hard to request a 401k withdrawal and require proof that it's a legitimate hardship in my opinion.

  18. Avataaar/Circle Created with python_avatars Catherine Faro says:

    sounds like they need more exit liquidity

  19. Avataaar/Circle Created with python_avatars XInfinity2013 says:

    Good video. I think it should be required that those auto enrollment should be made to have fixed income investments in it

  20. Avataaar/Circle Created with python_avatars The Moff says:

    I sub'd a long time ago! I "like" everytime! As a thank you, can we see a picture of a baby yoda?

  21. Avataaar/Circle Created with python_avatars TheKeyloc says:

    Great video! I see what you did there 😉

  22. Avataaar/Circle Created with python_avatars Lord Tark says:

    Great content

  23. Avataaar/Circle Created with python_avatars Dillon John says:

    You're the reason I started to get serious about my money.

  24. Avataaar/Circle Created with python_avatars suchPUMPwow says:

    call me a conspiracy theorist but its ALMOST like everything being done to this country is all on purpose. what do i know theres only a book out written by klaus schwab called the great reset

  25. Avataaar/Circle Created with python_avatars Cisco H says:

    the only reason I don't use my 401k is because it's too "safe". I'm only allowed to choose certain retirement plans for certain time frames…now if I could choose my investments into my 10 picks I have on my taxable account that'd be amazing and I'd probably only use my 401k as my primary stock tool of sorts 🔥🙌

  26. Avataaar/Circle Created with python_avatars Cokebottles says:

    I still see it as a good thing. The uneducated investors can easily be shown how to DCA into VTI and/or VOO and from there they can pray the economy isn't collapsing the year they plan to retire.

  27. Avataaar/Circle Created with python_avatars AWOL Geordie says:

    SCHB/BTC 70/30. Easy.

  28. Avataaar/Circle Created with python_avatars teasquared09 says:

    Serious click baity bullshit.

  29. Avataaar/Circle Created with python_avatars hoihoi8 says:

    Hard to take a guy seriously who youtubes in front of his expensive car 😀 Would be even funnier if that was a virtual background

  30. Avataaar/Circle Created with python_avatars SmashProStudio says:

    I was already auto-enrolled into my 401K many years ago and had to reduce my contribution to 0% if I wanted out.

  31. Avataaar/Circle Created with python_avatars lv jungle says:

    It’s more beneficial for entire people if they can lower the rent by 40% at least. Why it’s so high? So much space in this land where rent takes up huge chunk of our wage

  32. Avataaar/Circle Created with python_avatars Mark0z says:

    I think that this is a good change

  33. Avataaar/Circle Created with python_avatars Shaka Farms says:

    Great video, I see what you did there. After all the devil is in the details as they say. I always read the description 🤙🏻

  34. Avataaar/Circle Created with python_avatars josh simpson says:

    I would argue the market is rigged over an individual is so stupid they don't know where they should put their money for investment.

    Investors are shite at investing by in large

    If you are trying to assert parasitic drug addled dude bro financial advisors are just super smart I have a bridge to sell you

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