Press Esc to close

Welcome to Money Morning - Only the News You Can Profit From.

Close

The Cybersecurity Play That Doubled Once – Will Double Again

Not long ago, a relative of mine was the victim of identity theft. And I have to tell you that I really felt for the entire family.

The thief ran up nearly $20,000 in charges, opened new accounts and tried to open others.

And I can tell you that the frustrations over the losses (most of which ended up being covered) were dwarfed by the helplessness that came whenever new charges showed up – and the worry that was spawned by never finding out how the whole mess started.

As we watch the headlines about data breaches and cybercrime – and watch as the violations move closer and closer to home – those worries only escalate.

  • Featured Story

    Will the Government Start Taking 401(k) Money?

    Keith 401k

    With Washington battling over what to do about its $16.4 trillion debt pile, rumors are swirling that the government will start taking 401(k) money to cure its fiscal ills.

    There's plenty to take.

    A study published by the Investment Company Institute in 2012 stated that U.S. retirement assets at the mid-point of the year totaled somewhere in the neighborhood of $18.5 trillion.

    If you look specifically at what most Americans take advantage of - IRAs and 401(k) plans - they have amassed $3.5 trillion and $5.1 trillion, respectively.

    These large sums of untaxed money are proving to be very tempting to an administration looking for revenue to help rein in our whopping national debt.

    "The government is spending money like a drunken sailor, and they need to get their meat hooks into any cash stock pile they can," Money Morning Chief Investment Strategist Keith Fitz-Gerald explained in the accompanying video on why the government could start taking 401(k) money.

    To continue reading, please click here...


    Read More...
  • government taking 401(k) money