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

Jun. 23, 2018

Jun 23, 2018

Securities and Exchange Commission

To the and Exchange Commission,

This loophole is a step backward. As one of the millions of baby
boomers who have retired, are about to retire or will be retiring
within a few years, I have worked long and hard to attempt to secure a
minimal financial security in retirement.

While I have the resources at present to hopefully meet the basics
through retirement, I am part of the generation that saw private
pensions disappear, the decline of corporate paid health insurance and
the explosion of health care costs. In addition, wages have in no way
kept pace with the cost of living. This meant having less
"disposable" income to invest for retirement.

The current assault on Social Security and Medicare only makes the
future more precarious. Do not make it easier and more tempting for
financial advisors to take advantage of not only older Americans but
all Americans who look to and rely on their expertise to be financially

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.


Ms. Jean Callahan