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Should the Federal Government Get Rid of the Roth IRA?
About this Episode
Today's episode of The Power of Zero Show addresses the question 'Should the Federal Government get rid of the Roth IRA?'
In a recent MarketWatch article, Alicia Munnell, founder of Boston College's Center for Retirement Research, opined that it's time to start thinking about getting rid of the Roth 401(k) and the Roth IRA – and gave three reasons why.
Firstly, Munnell believes that Roth IRAs can be hijacked by Congress to pay for expensive partisan legislation.
Secondly, she thinks that Roth IRAs should be eliminated because they can turn into tax dodges for high rollers like Peter Thiel.
And thirdly, Alicia Munnell makes the case for Roths being an obstacle to fairer tax incentives.
According to David, Munnell's points seem to overlook the fact that tax-free retirement instruments like the Roth IRA and Roth 401(k) are some of the only tools Americans have to shield themselves from the impact of higher taxes down the road.
Mentioned in this episode:
David's books: Power of Zero, Look Before Your LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
PowerOfZero.com (free video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
Alicia Munnell's MarketWatch article - Roth IRA and Roth 401(k): the World Would Be a Better Place Without Them
Boston College's Center for Retirement Research
ProPublica article Lord of the Roths: How Tech Mogul Peter Thiel Turned a Retirement Account for the Middle Class Into a $5 Billion Tax-Free Piggy Bank
Hosts & Guests
No transcript available for this episode.
