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Retirees Suffer As $300 Billion 401(k) Rollover Boom Enriches Brokers

FYI: “If someone offers you $600 to roll over your IRA, you can be sure you are going to be paying a lot more additional expenses later,” said Mercer Bullard, an associate professor at the University of Mississippi Law School who heads Fund Democracy, an advocacy group for mutual-fund shareholders
Regards,
Ted
http://www.bloomberg.com/news/print/2014-06-17/retirees-suffer-as-401-k-rollover-boom-enriches-brokers.html

Comments

  • It is truly amazing how corrupt some people are. Insurance and the companies who provide the products are obviously necessary. But, you can be sure that everything they do is for their benefit and not yours. I don't know why they're allowed to offer investment products when they have no fiduciary responsibility.
  • Canada Bill Jones, "It's immoral to let a sucker keep his money."

    If all the land has been stolen from the Indians (or you may select your preferred aboriginal), and you don't want to accept the low salary of a teacher or other public servant, you're not smart enough to invent a useful machine or to get into a professional school, and no one claps for your stand-up, one has to prey on the uninformed.
    It's the way of the world.
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