The Govt is monkeying with our savings again

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Kaufmanrider said:
When I retire, probably Jan 2014 the way things are going, I am moving all my TSP into my Schwab IRA. At least I'll know my money is real and not an IOU from the gobernment. And I'll have far more investment opportunities.
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well i got a good 20 years to go so i'm not really counting my chickens just yet. i've been drawing a paycheck with fica withheld since age 14, that's 30 years. for the last 10 years i've also had fers retirement and tsp taken out too. needless to say i'm a little disenchanted that folks can just borrow it when they want and none of seems like real money, or like it's mine, or like i'll ever see it.

even more disturbing is with all the feds past and present who have 'money' in the G fund, it only totals 156 billion and can only float our current spending for about six weeks.

i have a schwab ira too but nnuut might be on to something. no matter what the investment choices or trading freedom, if i want to spend it i have to convert it to USD first and the dollar is really just debt owed to the privately owned federal reserve, a note so to speak. and the dollar seems rather heavily indebted at this point. maybe that's why it's value keeps shrinking.

i guess the best i can hope for is this big ole borrow and spend wheel just keeps spinning merrily along. it's good for the economy i hear.
 
James and I are definitely on the same wavelength!!!

Here they come, all dressed in white. Extraordinary Measure every other year!!!

Surprisingly, Frixxxx just noted a 150 basis point in the 'G Fund' interest rate. Interesting, eh. Maybe they need to entice the enticeable. There is a new sucker born every day.

James48843 said:
Geitner's letter to Congress- outlining the "Extrodinary Measures" they are doing to avoid bankruptcy during the "debt ceiling" fight.

http://www.treasury.gov/connect/blog/Documents/Appendix -- Extraordinary Measures 12-26-2012.pdf

I am avoiding the "G" fund- they can't take my money while I am invested in stocks.

F' them.

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Just a reminder- once again the government has run out of "debt limit" and is using the "G" fund to finance the entire government right now.


G Fund and the Debt Limit — (March 18, 2015) As of yesterday, March 17, the U.S. Treasury was unable to fully invest the Government Securities Investment (G) Fund due to the statutory ceiling on the Federal debt. However, G Fund investors remain fully protected, and G Fund earnings are fully guaranteed by the Federal Government. This statutory guarantee has effectively protected G Fund investors many times over the past 25 years. G Fund account balances will continue to accrue earnings and will be updated each business day, and loans and withdrawals will be unaffected. To learn more, visit “The G Fund and the Debt Limit.”
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Are you feeling safe and secure?

(Congress, get your act together and pass a debt limit increase...)


 
James48843 said:
Just a reminder- once again the government has run out of "debt limit" and is using the "G" fund to finance the entire government right now.




Are you feeling safe and secure?

(Congress, get your act together and pass a debt limit increase...)


[/FONT]
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So, by heaping more debt on younger Americans, this is saving all of us? I'm with you on the point of keeping their hands off of G fund. However, I'm not a fan of raising the debt ceiling. Take a look at your personal checkbook and your personal budget (if you have one). When you run out of money in your account, does the bank keep putting money into it?

No, it doesn't.

Frank
 
Lakebound said:
So, by heaping more debt on younger Americans, this is saving all of us? I'm with you on the point of keeping their hands off of G fund. However, I'm not a fan of raising the debt ceiling. Take a look at your personal checkbook and your personal budget (if you have one). When you run out of money in your account, does the bank keep putting mney into it?

No, it doesn't.

Frank
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Ok, that's fine and dandy going forward. Where we are now: No money.

What do you suggest for right now if no increase?
 
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userque said:
Ok, that's fine and dandy going forward. Where we are now: No money.

What do you suggest for right now if no increase?
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My suggestion would be either to allow more IFT's Paid or free, real time IFT's paid or free or for the TSP Board to find another suitable investment vehicle. Perhaps change TSP partially to allow the purchase of other investments.

But raising the debt ceiling (again?), how many times are we going to go to that well before you hit dust? And if that happens, you can kiss all of your TSP and investments goodbye because they will take it all.

You would think that they would want us to make money in retirement. That way they could sell their idea of forcing newer employees to contribute more to their own pensions. It would make TSP more appealing IMO.

Frank
 
Lakebound said:
My suggestion would be either to allow more IFT's Paid or free, real time IFT's paid or free or for the TSP Board to find another suitable investment vehicle. Perhaps change TSP partially to allow the purchase of other investments.

But raising the debt ceiling (again?), how many times are we going to go to that well before you hit dust? And if that happens, you can kiss all of your TSP and investments goodbye because they will take it all.

You would think that they would want us to make money in retirement. That way they could sell their idea of forcing newer employees to contribute more to their own pensions. It would make TSP more appealing IMO.

Frank
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?

This will address the current and immediate debt/looming-gov't-shutdown issue?
 
userque said:
?

This will address the current and immediate debt/looming-gov't-shutdown issue?
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Did you ask me to address the so-called "looming government shutdown issue"? I didn't read that. And I fail to see how stealing from my G fund or any other TSP account has anything to do with that issue.

Frank
 
userque said:
Ok, that's fine and dandy going forward. Where we are now: No money.

What do you suggest for right now if no increase?
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'Increase' refers to the debt limit increase someone mentioned...to keep them out of the G-Fund right now.

Lakebound said:
My suggestion would be either to allow more IFT's Paid or free, real time IFT's paid or free or for the TSP Board to find another suitable investment vehicle. Perhaps change TSP partially to allow the purchase of other investments.

But raising the debt ceiling (again?), how many times are we going to go to that well before you hit dust? And if that happens, you can kiss all of your TSP and investments goodbye because they will take it all.

You would think that they would want us to make money in retirement. That way they could sell their idea of forcing newer employees to contribute more to their own pensions. It would make TSP more appealing IMO.

Frank
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As you do again here; you previously answered the 'long term' question, not the 'what do you suggest for right now' question.

But it's not really important.
 
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userque said:
'Increase' refers to the debt limit increase someone mentioned...to keep them out of the G-Fund right now.



As you do again here. You previously answered the 'long term' question, not the 'what do you suggest for right now' question.

But it's not really important.
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I think I'm done here. Because if I knew the answer to that question, I wouldn't be worried about 3 IFT's a month and paying for Premium services to help me manage my retirement funds.

Good night,

Frank
 
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