We need a RKBA "IRA"

[Bruegger]

This is a no sh*&'er.

There I was...

...thinking about how to provide for the most important things in life for my family. I've already got IRAs started for me and Mrs B when we retire, and we've already got Education IRAs started for the kids, but what about some very important expenses that we would be facing in just a few years...?



...how to pay for guns and ammo for the kids?

So I sat down and got to some hard thinkin. [Note: for Marine infantry, this has been known cause serious wear and tear on the "brain housing group"] My eyes glazed over. Gears ground together. There was a noise something like fingernails dragging on a blackboard comin out of my ears. Mrs B came in to ask "what's that burning smell?"

When suddenly the solution hit me, and I leapt up, shouting "Eureka!"

Or something like that.

And the RKBA IRA was born.

Here's how it works:

1. Select a beneficiary - your child or a needy child
2. Open an account naming the child as beneficiary under the Uniform Gifts to Minors Act and yourself as Trustee. You can use a simple savings account or can get fancy and invest in a mutual fund.
3. Fund the account - a painless way is to have $5 taken out of each paycheck - you'll never miss it and $5 twice a month for 5 years is $600 not counting interest!
4. The child can them withdraw the funds with your OK to pay for:
-guns
-ammo
-accessories
-training courses
-NRA/GOA/JPFO membership
-gun rag subscriptions

A cheap way to provide for the funding of the RKBA for the next generation.

Semper fi.

Bruegger out.

 

[Dave R]

Bruegger, the only addition I would make is that any monies contributed to the account would be able to make gun purchases in the future, based on EITHER the gun regs in place when the monies were deposited, or the gun regs in place when the mony is spent, whichever is more favorable to the buyer.

Nice fantasy, eh?

That way at least the libs would know how much purchasing power they were playing with.

 

[Bruegger]

Not a bad idea, but I was thinking of an unofficial "IRA" rather than one "on the books."

You see, you can open a bank account and call it a "RKBA IRA" even if no law gets passed to "authorize" it. That's the beauty of it.

However, if we passed a law for RKBA IRAs, I'd want the funds to earn interest tax-free and for withdrawals to be tax-free. Since gun owners make society safer for everyone, it seems only fair.

 

[JCH]

When I read that topic I ran away very fast. I thought this had to do with a new wing of a militant group from Ireland. All I could think was "God, I'm on enough list. I don't want to be on this one".

Your version sounds much better.

Oh, by the way I am parinoid.

 

[Tall Man]

Here's one from the realist:

I have an "RKBA IRA", of sorts.

I've got a segregated account that exists solely for the purpose of funding firearm and firearm accessory purchases. Withdrawal and use of said funds is made at my discretion only. This money is easily available, my having traded higher interest rates for liquidity. In the wake of numerous school shootings and the hue and cry that they generate, it's reassuring to know that my cash is but a phone call or an ATM transaction away.

The balance of this account does not drop below $1k, ever, even after I've used some of this money for its intended purpose. Of course, I try to add money to the account whenever possible. This isn't always a fruitful endeavor, though. Since it's inception, this account has performed double duty: serving as a gun slush fund, as well as funding my motorcycle accessory wants and needs. Oh, those Prexport boots are so sweet!

Regardless of it's ultimate purpose, folks, save as much money as you can afford to save.

Tall Man