The IRS is making it easier to rollover your money, even if you do it after the 60-day rollover deadline. You can now self-certify to the new holder of your retirement funds, that you had a good reason to miss the deadline. Previously you had to get an exception from the IRS which was a process that involved time and money. Even if you self-certify, the IRS says you can still be penalized if your self-certification proves to be false or not a good reason (once the paperwork is sent to the IRS and the IRS reviews it).
What the IRS does not say is that, even if you did not have a good reason for missing the deadline and even though we are going to penalize you, we are still going to keep your money tied up in someone else's hands.
Before this new IRS ruling, if you did not have a good reason to miss the deadline, you would be penalized but you would at least still have the rest of your money in your own hands because no financial institution could accept money past the rollover deadline.
Under the new ruling, not only is it possible for you to still be penalized, but once you make the same mistake twice by putting your money in someone else's hands again, now for the rest of your life, you will likely be unable to take all your money out at once.
If there is any possible way to take all your money out, you can be certain you will be penalized for the umpteenth time.
Once you rollover your retirement money, that leaves you with one option: Wait and hope and pray you will get the amount of money you expect on a monthly basis for the rest of your life and/or your beneficiaries will actually benefit. This, in and of itself, is a self-imposed penalty – to be subject to so much uncertainty in the name of securing your future.
Let me summarize what the new IRS ruling does: First, it switches the penalty from the front end of the transaction before the rollover to the back end of the transaction after the rollover. Secondly, it increases the likelihood you will rollover your money. Thirdly, it removes attorneys/accountants from getting a piece of your pie. Fourthly, it reduces IRS administrative costs,. Fifthly, it benefits financial institutions the most. Sixthly, it benefits politicians and others who receive kickbacks in various forms. Multiple and widespread examples already tell you what is going to continue to happen: As time goes by, the rules concerning how much of your money you are actually going to receive and get to keep, will continue to change.
All of these rules will be in your disfavor.
Not only that, but you must remember the main point of this entire message:
The future value of your money in someone else's hands is always less than its present value in your own hands.Mature in understanding and learn to discern between the lines: That the IRS found it necessary to change the rules “supposedly in your favor,” is prima facie evidence of three things:
This is true even if you have to pay a penalty right now to get all of your money out of lockdown.
Your money evaporates extremely fast the moment you sign it over into someone else's hands who does not in any way, shape, form or fashion have your best interests in their capitalistic mind. Consider this: Would you give the holders of your retirement money, the power of attorney over your finances? If not, why keep putting the main portion of your money in their hands and trusting they will do right by you? They don't know you and ain't no love lost when it comes to how they feel about you. Once you give these kind of people your money, it has not only instantly evaporated in person, but it also slowly evaporates on paper. You are loaning your money to gangstas for free while you pay them extortionist fees. In return this mafia gives you a piece of paper and promises to pay you back little by little what you gave them all at once and on a more frequent basis when you were working.
All of these occurrences are the result of continuing to put faith in and give credit to career criminals and their institutions.
1. An okie doke is taking place.
2. A lot of people are taking their money out of retirement accounts. Everyone but you.
3. Retirement accounts are extremely underfunded and are near bankruptcy and collapse. Listen to the Ancestors inside you: A capitalistic mind lies all the time. Start asking every possible question of multiple sources and of whoever has your money. Research the answers. Start with questions that relate to the bad news, the downside, the risks and the worst possible scenario. Who waits for the fire to ignite when they know the conditions are right?
Those who will benefit from the fire.
Everyone else should use advance preparation as their main insurance.
Wildfires are the expected that unexpectedly happen. They are like stampedes. There is no such thing as a little stampede or a brief stampede or a little damage.