Dear Uncle Sam, please stay out of my retirement savings account. Thank you.

Allowing the government – which has a very hard time handling its own financial issues, implementing a budget or coming up with any significant spending cuts – to handle your retirement savings would be like hiring Colonel Sanders to babysit your pet chickens.

Currently, the $19.4 trillion U.S. retirement savings business is dominated by a group of companies such as Fidelity Investments, JPMorgan Chase and Co., and Charles Schwab Corp., which handle the management of investments in 401(k) plans and individual retirement accounts.

Now, the U.S. Consumer Financial Protection Bureau is considering whether it should be part of the process of “helping” Americans manage the money they’ve put into retirement accounts. This bureau, established by the 2010 Dodd-Frank Act, is justifying its interest in getting involved by expressing a “concern” that without it, many Americans may fall prey to scams that will rob them of their retirement funds.

Let me know what you think about this. Should the government have a role in managing Americans’ retirement savings? Are there any alternative ways to save for retirement that could keep your cash out of Uncle Sam’s hands?

And here’s a bonus question. Can you think of anything – anything – that the government does not want to get its hands on in our lives?

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