Johnson City, TN (PRWEB) January 29, 2014
President Obama announced the roll out of myRA in his State Of The Union address last night in and attempt to address the problem of millions of employees not having access to employer-sponsored retirement savings plans. “The only advantage of this plan over Individual Retirement Accounts is that it has a guaranteed interest option,” says investments management specialist Jeff Voudrie, president of Common Sense Advisors.
“I don’t want to discourage people from investigating the new plan, but nor should Americans think that enrollment in myRA will meet all of their retirement needs,” says Voudrie, a financial planner in Tennessee.
“Your money will be used to buy Treasury Bonds issued by the U.S. Government,” Voudrie pointed out. “No well-respected financial professional would recommend that someone solely rely on the return provided by government bonds for their retirement,” he added, citing a paltry 1.47% return last year.
Part of the possible appeal of the MyRA accounts would be that savers would not be at risk of losing what they put in, according to President Obama’s speech. Yet, investments management specialist Voudrie asks, why would American workers opt for buying government bonds at a tiny return as part of their retirement planning?
“All those who are able to contribute to myRA are already able to contribute to the myriad IRAs that are already available,” he said. “All someone has to do is open an account at a bank, brokerage firm or insurance company. Perhaps the reason that more people aren’t taking advantage of existing opportunities has nothing to do with the range of options—more likely it is that they don’t have any money that can be set aside!”
“With rising costs, high unemployment and a slow-growing economy, it is a challenge to make ends meet and set aside enough to retire comfortably. The reality is that increasing the average annual return on your retirement has become a necessity. The paltry return provided in the myRA may not be enough to keep pace with real inflation,” says Voudrie.
Finding the right financial advisor to put your money to work for you in a much more savvy way than government bonds should be the first thought for new investors wanting to set aside funds for a reasonable nest egg, not placing full trust in yet another federal program.
“This program may allow the President to score some political points, but it is not going to benefit the average American,” Voudrie concluded.
A financial services industry veteran with more than 20 years’ experience, Jeff Voudrie is a new breed of private money manager. Using sophisticated electronic monitoring and software, combined with his 20 years’ experience as a money manager, Jeff works with you to create a personal investments management portfolio that reflects your lifestyle goals and risk tolerance. He specializes in stable growth and prudent profits while applying a robust, patented risk management processes. When you work with Jeff, you have the security of knowing that your life savings is getting the attention it deserves.
Jeff Voudrie, a financial planner in Johnson City, TN has been interviewed by The Wall Street Journal, CBS MarketWatch, The London Financial Times and the Christian Science Monitor. He is a former syndicated newspaper columnist and the author of two ground-breaking books: How Successful Investors Tripled the Return of the S&P 500 and Why Variable Annuities Don’t Work the Way You Think They Work. He accepts a limited number of new clients in his personal investments management practice. He and his wife Julie live with their seven children in Johnson City, TN. He is heavily involved in his local church and has done missionary work in Hungary and Cambodia.
Common Sense Advisors
105 Keeview Court
Johnson City, TN 37615