Just got off a "Plan Sponsor" webnar touting the benefits
of investing in Target Date Funds. Made me want to throw
up!!! Nothing like leaving it to others to take full
responsibility for YOUR life savings and expecting those
funds to grow and grow and grow. I would venture to
guess everyone subscribing to breakpointtrades.com would agree
that making money is a whole lot harder than simply selecting a
mutual fund based upon your expected retirement age.
The sheer nonsense of this advice from
supposed "financial experts" makes you wonder whose interests
they really have at heart (remember: there's an annual fee
associated with each of these funds and its based upon a % of
assets under management). Funny its almost mandatory
that fiduciaries (plan sponsors) offer this crap and
convince their employees that asset allocation is the key to
finding the financial "golden fleece". Industry standards
demand it of employers, and if you're an employer and don't
toe that line, you set yourself up for a lawsuit when participants
get hit with losses in a market downdraft ala 2008.
And to think such irresponsible behavior is taking place in
nearly every business across the country. wow - what a
con!! give me a cup and handle any day.
Does money really grow on trees???
Posted by RichieD on 28th of Feb 2012 at 12:56 pm
Just got off a "Plan Sponsor" webnar touting the benefits of investing in Target Date Funds. Made me want to throw up!!! Nothing like leaving it to others to take full responsibility for YOUR life savings and expecting those funds to grow and grow and grow. I would venture to guess everyone subscribing to breakpointtrades.com would agree that making money is a whole lot harder than simply selecting a mutual fund based upon your expected retirement age.
The sheer nonsense of this advice from supposed "financial experts" makes you wonder whose interests they really have at heart (remember: there's an annual fee associated with each of these funds and its based upon a % of assets under management). Funny its almost mandatory that fiduciaries (plan sponsors) offer this crap and convince their employees that asset allocation is the key to finding the financial "golden fleece". Industry standards demand it of employers, and if you're an employer and don't toe that line, you set yourself up for a lawsuit when participants get hit with losses in a market downdraft ala 2008.
And to think such irresponsible behavior is taking place in nearly every business across the country. wow - what a con!! give me a cup and handle any day.
There is no need to
Posted by steveo on 29th of Feb 2012 at 01:16 am
There is no need to wonder who interests they have in mind, 98% is their own interest only.
21st Century -- The Great Con
I think sticking your head
Posted by randy on 28th of Feb 2012 at 01:30 pm
I think sticking your head in the sand and hoping would beat most of the investing pro's that want a piece of your money.