If you think that I didn’t have enough problems with find affordable health care just in case my wife eventually need to retire, it seems that our government wants us seniors to deplete all of their assets so we can end up with out any thing to leave our families, places of worship, favorite charities, or just our friends. I say this because the other day I received a phone call from my stock broker that I will no longer going to be able to sell stocks with him unless I sign up for their new fee structure for my portfolio. Even though I never reached the supposed amount of one million dollars for my retirement, my new cost to stick with the broker who I have had for some twenty five years will go up in price from $100.00 a year to $300.00 a month, yikes-a $2900.00 increase, close to $250.00 a month, and add this to my Required Minimum Distribution starting this year, means that my new stock broker, US government(Uncle Sam) is requiring me and millions of my fellow seniors Americans to start liquidating our hard earn savings. Of course my stock broker did offer me an alternative that I can open up a no cost account that has no fees, and very low commissions, but no financial advice. even though I am not a millionaire, I credited my broker from keeping me from panicking so many times, and just ride it out.
With so much concern with the new substitute for Obama Care, so very little is being said about what Uncle Sam is doing for us seniors. My new banking regulations of having a fixed percentage fe for all investment accounts will mean massive job cuts in the financial industry and not to also mention that many of us don’t know beans about investments.
Thanks President Donald Trump, can you at least put Jim Cramer and Tony Robins on your financial advisory board so at least we will have someone to help us on how to invest!