When addressing Americans’ financial security, Congress often focuses on ways to put more money in Americans’ pocketbooks. However, income alone does not result in financial security. And if Washington stops there, it will fail to help Americans find firm financial footing.
Study after study and article after article have documented the harm the regulation is doing to people saving for retirement. Sales of variable annuities, which help people grow their money over the long term while also offering a lifetime income option, are down dramatically.
Nobody wants a repeat of the financial crisis of 2008. But ill-informed regulation is not the way to go.
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