“What does Dave say about the Government coming after 401K and IRA accounts to fund Obamas National Retirement System? You bet I am cashing out penalty or not!”
Dave’s advice was right on target up to the above dangers re a national retirement system.
We got this advice years ago from our accountant, and she was right then and up to now.
However, if the Obozo Thugs/Pelosi/Reid convert our IRAs and 401ks to a national retirements system and pay us based on “need determined by them”. It might best to cash out IRA’s to pay off mortgages.
(See new tagline, today)
I have a very low opinion of Dave Ramsey, Suzie Orman and even the one time unbelieveably lucky Bob Brinker. These are entertainers, NOT duly licensed and registered reps of legitimate investment firms on Wall Street!!!
There is virtually NO regulatory control nor any recourse should they ever give anyone a bum steer!!! When it gets right down to it, they are no more legitimate than Bernie Madeoff IMO. When Susie Orman mislead a bunch of followers, she had nothing to say to Oprah but "that's tragic" and just left it at that with nothing more said or done about it.
Ask ANY duly licensed Registered Representative of ANY brokerage firm what would happen if ANY of them ever behaved like that, even once. The only governmental control on the entertainers named above is via the FCC that only gets upset about "dirty words!"
I even put a lot more stock in Grampa Dave's expertise than in the three named above... REALLY!!!
(now I'm going to shut down till the flack from the unwise disciples tapers off a little - remember, this is just MY opinion for whatever that's worth since I surrendered my Series 65 license when Bernie Madeoff hit the headlines just out of embarrassment for that industry and that carreer)