Liberty Bank, also known as Liberty Mutual Bank, is one of the largest financial institutions in the world. It has a presence in all 50 states of the U.S. and manages money and savings accounts for millions of individual Americans, including thrift community members, home owners, college students, seniors and immigrants, retired persons and many others. Liberty Bank has been creating a great deal of success for individual savers, but is on the verge of coming under attack from the Government. Recently, the Government proposed new regulations that would require all banks to use coin-operated operations exclusively. What does this mean for the liberty banking community?
The new regulations would essentially force the closure of all non-coin operated branches of Liberty Bank, forcing the financial freedom community to look to an alternative location for their personal assets. The proposed regulations would also force all commercial financial institutions that handle more than $10 million dollars in assets to participate in Coin operated branch banks. All private commercial banks could no longer process deposits and transfers into or out of Liberty Bank accounts. If these regulations go into effect, it will be quite the domino effect for the Liberty Bank and the entire financial freedom community.
What does all of this mean for the average American? For the individual investor who has saved his funds in a self-directed IRA or other investment accounts, it means less freedom and less opportunity for building wealth. Freedom to invest goes out the window with the IRS pushing for more regulations and paperwork as our tax dollars to increase in size and scope. With less opportunity to grow your own capital through investment, the individual saver may find that their money is not growing at the same rate as tax-sheltered funds.
For the institutional investor, it means that liberty continues as funds are still deposited into self-directed IRA accounts, but now, regulations have intruded upon more areas of the accounts. There is more involvement from the regulatory agencies and supervisory employees who want to make sure the custodians of these IRA's are following the law and acting within the confines set by the regulations. It also means that smaller regional banks and brokerage firms must compete for the same IRA funds as the mega-banks and investment firms. As smaller regional banks and brokers go out of business or become receivers of government contracts, the freedom of IRA funds is lost along with the freedom of the individual investor.
Of course, for the average individual, the loss of IRA funds would mean less funds for living expenses and perhaps even fewer opportunities to build wealth. Without the safety and security of IRA funds, the freedom of putting away money to live on and utilize it when needed goes out the window. The freedom of not having to rely on a risky savings account to help pay for major unexpected expenses like medical bills or a home renovation go out the window. This would affect the type of vehicles you can get, the types of entertainment you can take part in, and the types of travel you can take part in. All these changes would have an effect on your freedom of living as an independent wealthy individual.
With the advent of the internet, Liberty Banking has opened up its doors to online brokerage firms. These allow you to go from office to office, state to state, or even country to country without ever leaving the comfort of your own home. You can invest in stocks and other mutual funds from anywhere in the world, and at any time. With freedom of choice and total independence, the world of liberty has never been this exciting and available.
Of course, as with everything else in life, it does require work and effort to get to the point where you can retire with freedom and not depend on anyone else to provide you with your retirement income. You will have to educate yourself in order to be able to save the maximum amount for your retirement, regardless of whether your IRA is a Roth or traditional. You need to know how tax laws affect your individual investment funds. You need to learn about Roth IRA rollover plans and the best ways to prepare for retirement.
Freedom of choice and retirement planning are just two of the many freedoms that you can enjoy when you are part of the Liberty banking family. Your entire family can be part of this together, and you will always have a place to go if you need support and direction during your golden years. The internet can help you find out more about financial freedom for individual investors. It can help you set up your own investment firm so that you can control your own money when you are ready to retire. This can all be done from the comfort of your own home.
