They Stole Your Retirement Account

By Mike Johnson

If you knew someone was going to steal your retirement account, what would you do?

It has already happened. They took your real money, you only have their fake statement.

That statement is not money itself. It is merely a promise to pay you money. What can't be paid, won't be paid.

They can't pay because they spent your money. They don't have it. They only hold 3% of all the money they've collected from everyone.

They spent your money on other over-priced and over-leveraged "paper assets" in order to get you a "return."

Of course, they'll never tell you that your current "return" is less than the REAL rate of inflation (17% per, so your balance is melting in purchase power.

Slow motion theft is still theft.

All you have is a piece of paper. And trust. You still trust these people. Even if 97 out of 100 people will not be paid when they ask for their money.

Never mind. Your trust is likely enough to insure you'll be one of the three who gets their money. Minus fees, inflation, taxes and haircut, of course.

Grandpa, who experienced a nasty financial collapse, had some hard-earned advice.

If you can't touch it, you don't own it.

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