Ron Nawrocki - Wealth DNA

     MyRA & GRA's vs. IRA's and 401(k)'s - The Wealth DNA radio show is dedicated to helping you increase your wealth, as well as educating savers & investors. One of the underlying questions for each topic on the show is whether it will help some listeners "Live the American Dream"? In past generations several retirement programs were introduced to provide a safety net as people retire. Among those were "defined benefit plans" like government Social Security and company pensions. Economic and financial uncertainties plus bankruptcies led most company plans to be eliminated or reduced dramatically. Likewise we see Social Security plans throughout the world facing bankruptcy, depletion or a reduction of benefits.
 
      Gradually we've seen an expansion of "defined contribution plans" that put more control in the hands of the beneficiary. Those who learn to invest wisely have the opportunity become wealthy, those who would rather watch TV than learn about investing will have to depend on the government Social Security during retirement. Our guest Teresa Ghilarducci has proposed an expansion of the US government's role in pension plans, probably at the expense of skilled investors.
 
      Prof. Ghilarducci is the author of "When I'm Sixty Four", the Bernard L. and Irene Schwartz Chair in economic policy analysis at the New School, and a prime driver behind GRA's and MyRA's recently announced in the President's State of the Union address. What is a GRA? Should you setup a MyRA? What happens to the $17 Trillion currently invested in retirement plans? Will her proposal help you "Live the American Dream?" Or will it merely spread your wealth to others?