Subject: File Number S7-07-18: Stop financial advisers from sapping Americans' retirement savings
From: Susan Lynch

Jun. 20, 2018

Jun 20, 2018

Securities and Exchange Commission

To the and Exchange Commission,

Please do everything possible to protect the retirement income of
people who have worked their entire lives, and saved to provide a
proper income for the remainder of their lives.  Millions of Americans
like me are counting on our IRAs, 401(k)s and other retirement accounts
for a secure financial future  and we've worked hard to build and grow
our savings.

We should be able to trust our financial advisers to put our interests
first. But loopholes in the current law make it easy for many advisers
to take advantage of hard-working Americans and line their own pockets
with our retirement savings.

Hidden fees and bad advice costs Americans billions of dollars every
year, and we deserve better.

Please close this loophole and ensure a higher standard than the
currently proposed rule. Hold anyone who gives financial advice
genuinely accountable for helping everyday Americans choose the best
investments for us, our families, and our future. We don't need or want
a standard that just makes our brokers and bankers richer.

I'm counting on you to make a stronger rule that closes the loophole.
Americans who've worked hard to save for retirement deserve peace of
mind about their financial security.

And while you are considering this issue, please also look at the high
costs and low quality of nursing home care,  that  depletes the
resources of seniors all over the country.  We need a better solution
than what we now have, which makes nursing home owners extremely
wealthy at the cost of all our resources, and then makes the states we
live in pay that same extraordinary rate once we are impoverished.  No
person should have to reach the poverty level due to a need for medical
care, and no person should be denied the ability to go home because the
people who will  benefit most from keeping them in the nursing home
(the ones who are making money from it) are also the people who are
deciding if the patient is capable of going home - if you see any
motivation there for them to allow people to go home, you have a better
imagination  than I have!


Ms. Susan Lynch