In today’s rampant media (and social media) environment, these “extra” worries seem to have really gained steam in terms of circulation. Oh, and as you are probably aware of, we still have this little thing called a pandemic going on that is flooding our airwaves with information. To help sort through the mud, here are two things that you simply do not have to worry about with the new administration coming in.

The Government is Going to Steal My IRA to Pay Down the National Debt

Let’s get one thing out of the way: unless you have an IRS levy or other legal judgment against you, the US Government has no legal standing to seize the contents of your private retirement account, such as your 401k, IRA, or any other retirement plan. While it is possible that the new administration (or any future ones, on either side of the aisle) may make changes to retirement plan contribution limits, tax treatment, etc., there is simply no way surrendering/forfeiture of private investment assets for government use is ever going to happen.

Crypto/Gold Replacing US Currency

While the “steal my account” idea above is one driven by those seeking fear/chaos, this one is driven by another ulterior motive – selling you a product to make a commission. Last time I looked, the dollar made up well over 50% of all known central bank foreign exchange reserves. The euro was second, the Japanese yen third. Something like 90% of all global foreign exchange trading involves the US dollar, and more than half of U.S. currency circulates outside this country. Net, it isn’t going anywhere.

As far as cryptocurrencies and/or gold as a suitable replacement, again consider the motivation of the person writing the article or making the offer. Personally, from a data security and encryption of private information standpoint, I actually think the coding behind crypto offers some benefits that we will reap as a society moving forward. Additionally, gold makes really pretty jewelry that I like to purchase for family and friends.

However, as an investment, they are both nothing more than speculation of trying to sell it at a later date to someone else, hopefully for more than you paid for it. In the meantime, no dividends being paid, no hiring of employees, no company profits to distribute. Just a hefty commission percentage being paid to the broker of the transaction.


Today’s world offers an incredible amount of information at your fingertips. Unfortunately, quality information from quality sources can get lost in the shuffle and make it difficult to really focus on what may have an impact on you and your family. While you should pay attention to new policies that could affect your family – taxes, healthcare, etc. – spending time worrying about these other examples (and there are many more I am sure) is just a waste of time and a source of unnecessary stress. Save yourself the trouble and tune it out!