Last week, on December 11, 2014 our “leaders” in Washington passed a bill that will keep the government open through the Omnibus Spending Bill. This controversial bill divided both parties with some tremendous “horse trading.” One of the items in the new spending bill gutted a major provision of the 2010 Dodd-Frank Act. A key component of the 2010 Dodd-Frank financial reform law removed government backing for contracts called “swaps” that were seen as part of the cause of the 2008 financial meltdown. The new omnibus spending act now allows banks to use government-insured funds to trade in these derivatives, potentially (and historically) to the detriment of U.S. taxpayers.
One way of interpreting this act and its impact on us is to see that both the administrative and legislative branches of the U.S. government have passed a law which benefits Wall Street and provides a new spark for the supposedly-suffocated financial debacle fire. This questionable governmental policy may be sending a message that individuals need to look out for themselves in the overall financial picture.
How can you do this?
We at Janguard can assist you in understanding your options for your IRA and retirement accounts. By becoming a better-informed invested you can mitigate the effects of ill-fated fiscal policies and Washington cronyism. Janguard would like to show you strategies that could preserve and grow your retirement account wealth in any financial climate, including the current one of wasteful government spending, low interest rates, and under-the-surface inflation. For more information on IRA strategies and transferring your account to a self directed IRA or for answers to specific questions regarding your retirement accounts, call Janguard at 1.800.571.6341 today and discover how easy it is to secure your independence with a self-directed IRA.