Retirement Guy covers what the $1.1 Trillion dollar deficit can mean to your IRA Retirement account and how a Self Directed Checkbook IRA LLC can help protect your retirement account from inflation by investing in Gold and Silver American Eagles, and holding them at home.
Hi, this is Retirement Guy with the Money Minute brought to you by CheckBook IRA. The Congressional Budget Office, the CBO, just released the latest figures on the amount of money that the US Government has spent.
We’ve got another $1 trillion budget deficit for another year. So that’s four years in a row of running $1 trillion deficit each year. That’s over $4 trillion for the last four years. Now that’s money that we had to borrow. The problem is no one’s lending. So we had to print it up. It’s a little complicated, but if you do much research about the Federal Reserve, you realize they’re not federal any more than Federal Express is, but they’re a group of banks and they just issue IOUs or notes. That’s what a Federal Reserve note is. They just print them up, and they in turn loan them to the federal government so they are able to keep spending money without raising your taxes. Somebody’s going to pay, probably our kids and our grandkids.
By spending that $1 trillion a year, that is going to cause rampant inflation. Gasoline has already double since the current administration took office. If you’ve been to the store at all, you know things are going up. Or like my wife was saying, she went to the Dollar Store, and things are still a dollar. But instead of getting 16 ounces, you only get 12 or maybe you get 10. So they’re changing the packaging. Inflation is out there for anybody that can actually come down from their ivory tower and take a look around.
So in this Money Minute really what we’re saying is with the CheckBook IRA you have the opportunity to protect your retirement. One of the things that people are recommending is buying gold and silver and actual physical coins. There are other videos we’ve made on why physical coins are better. It gives you an opportunity to hold your retirement together while these crazy people just keep printing money and spending it. You’re going to need to take care of your retirement because Social Security might not be there. You’ve worked hard for your retirement. Anyway, give us a call. We’ll try to help out. Hopefully, this Money Minute has helped you.
This is Retirement Guy from CheckBook IRA. Happy investing.