Deliver a Message to Wall Street

Okay, I admit it.

I fall for what seems to be the daily ritual of “is the market up or down?” and “wow, it is really up today” or, unfortunately, “boy the market really stinks today.” And, let’s be honest….don’t most of us walk around and think there is nothing we can do about it?!

With the ever so recent stories of banks borrowing 7.7 TRILLION dollars from the Federal government during the height of the financial meltdown (yep, you read that one in the last day or so?) to stories about how employee retirement plans are being plundered by the companies they work for (in fact, a good read is Retirement Heist: How Companies Plunder and Profit from the Nest Eggs of American Workers), it is easy to become very jaded on who and what to believe and who and what to trust. It seems like our very core has been violated because of this. And, by the way, it is always easier (or harder to fathom) to really show what 7.7 TRILLION dollars looks like:

$7,700,000,000,000 (now someone figure up if $1 bills were put end to end, how many times would that take us around the world).

While the Wall Street Fat Cat is still making his money, fees and bonuses, while investing differently himself, I am a huge proponent of people like US retaining as much control as possible, taking it from the Fat Cats. And, what is nice about the message of taking control back is that I am not trying to sell you an investment. But, I do know that there is one very meaningful, impactful, and strong statement we can all deliver to Wall Street that will, over time, give them pause for thought. And, it has everything to do with controlling OUR retirement funds. When we control our own retirement funds, we take “ownership” of our life and don’t just bury our heads in the sand. If all of us who were able to take control of our retirement funds did so, think of the significant impact this would have. While it is an old adage, it is ever so true….NOBODY cares more about your money than you do.

Let’s be a bit philosophical…..if you could control your own retirement funds and invest in anything that is permitted under IRS regulations…..from real estate to hard money loans to businesses to precious metals….why WOULDN’T you want this freedom? Why wouldn’t you want the ability to invest in any asset class YOU want from one account? I think we all need to break ourselves from the “well, whatever it (their 401K) grows to is whatever it grows to” mindset, to exploring how we can take those dollars and be good stewards of that money. Not only is it the right thing to do, it is incumbent upon us to do so.

I think most people would agree that one should have the ability to have true diversification within their retirement accounts….however, why is it that brokers rarely suggest investing in ANY asset outside the stock market?! You know the answer to that question, which should tell you one thing….don’t put all your eggs in one basket (brokerage account)….consider the advantages of self-directing your retirement account through a self-directed IRA or 401K. You will view your retirement account in a whole new light.

Related posts:

1. Thoughts on Wall Street – And Control – Yours
2. Wall Street vs Real Estate Investments – Self-Directed IRAs
3. So What’s With All This Up And Down Stuff On Wall Street?
4. Real Estate – Wall Street – And Security
5. Let’s Get Real About Real Estate Investing VS Wall Street