The scariest words

"I'm from the government, and I'm here to help"

For years there has been a fear that the government would "nationalize" your 401k retirement plan.  This fear has been fueled by the fact that politicians in Washington (DC) routinely introduce bills that would nationalize your retirement plan, so it's pretty hard to dismiss it as "black helicopter, tinfoil hat" thinking. 

Over the years the proposals have become more mainstream, such as the hearings held in 2010 by Senators Harkin and Sanders:

Democrats in the Senate on Thursday held a recess hearing covering a taxpayer bailout of union pensions and a plan to seize private 401(k) plans to more “fairly” distribute taxpayer-funded pensions to everyone.

Fortunately for us so far, it has never really gone anywhere and it may still be on the fringes.

However, when a government agency ponders, as did the US Consumer Financial Protection Bureau, (according to Bloomberg News)

 that it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings

I, for one, get concerned.  It's one thing for a couple of left wing Senators to hold hearings about taking my 401k.  They still have to convince the rest of the Senate, the House, and the President that it is a good idea, without Americans becoming outraged and putting public pressure on them to back off.  When a bureaucracy that no one has ever heard of starts getting their fingers in the pie, can the end be far off?

Here's my input.  I DON'T NEED HELP MANAGING MY RETIREMENT SAVINGS.  I DON'T WANT HELP MANAGING MY RETIREMENT SAVINGS.  I DON'T WANT YOU TO HAVE ANY INPUT OR SAY IN ANYTHING I DO WITH MY RETIREMENT SAVINGS.

I don't know.  Is that clear enough?

Anyway, if you want to read more, here's a link. I don't know how much of this is just the normal chatter and how much is serious, but I think it's worth keeping an eye on.