Oft-quoted professor Pfau also says you can’t turn back fiduciary, Rule or No Rule, and there’s still no easy way to compare reverse mortgage options.
Interviews
“Millennials seek instant gratification. Putting money away today to live off of forty years from now isn’t nearly as sexy as a trip to Thailand with your girlfriends or tickets to the World Series. I’m not saying there’s anything wrong with that, but you’ve got to strike a balance between today and tomorrow.”
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Aiken says “There is no turning back” on DOL’s Fiduciary Rule as its momentum is “unstoppable” and regulation is “a lagging indicator.”
The DOL’s Assistant Secretary reveals how she and her staffed learned from initial attempts and why it led to a much stronger Conflict-of-Interest Rule.
“…just in case the politicians fail to act and have to scale back the [Social Security] promise, wouldn’t “middle class millionaire” status be a great gift of financial independence?”
“The SEC systematically failed to enforce for the past two decades, and now the DOL has by necessity forced the issue.”
Here’s the raw, uncut interview with the straight talking industry giant who was on to “fiduciary” before we even knew what it was.
“There is no upside for an employer doing everything perfectly with their retirement plan. The downside risk, however, can be huge. It’s a risk that just isn’t worth the employer taking.”
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He says it doesn’t pass the basic smell test, and that’s just warming up…
“Living longer is only part of the new old age – the desire and the market opportunity is how to enable living longer better.”
