Has anyone heard that, from what have heard, that ALL 50 states have laws on the books now where if an intermediary (i.e. Fidelity, Merrill Lynch, etc.) and they have issues, that our stocks, bonds, IRAs, 401ks can be used to settle their debts with banks. The banks are the first to be paid.
South Dakota is working on passing a law to make our investments OURS, not the banks.
Link to HB1199: https://legiscan.com/SD/text/HB1199/id/2905524/South_Dakota-2024-HB1199-Introduced.pdf
How do we fix this in the rest of the states. Especially, those of us in retarded Blue states.
I was always under the understanding that my 401k, which I pay into for retirement, which get then pays into various Mutual Funds that I have chosen, was mine for retirement. We only have a few stocks, our main thing is 401k. Thank you for the YT link. Will watch it.
I borrowed from my 401k and bought silver.
You do you,but I enjoy the security of the deal.
It's a free loan to corporations until you retire. Retirement savings is a joke. You're far better putting that money to use pursuing an interest that will allow you to generate income, which is your real biggest asset. Stay out of debt and live well within your means.
Went to college to be a financial advisor. Realized they're just mutual fund salesmen. The stock market is a casino, not a place to put your life savings.