It’s very possible, if not very likely, the vast bulk of retirees want to simple relax. Chances are they’re more ready than others think, and just as ready as they want to be. Maybe that’s the metric every fiduciary should be focusing on.
“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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Ultimately, it will be the tort bar that offers the enforcement and the subsequent consequence for poor decision making on the part of plan sponsors and service providers. Rest assured all sides will be discover the regulatory fence in their once open fields.
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How much effort does it really take for ongoing monitoring of an index fund or a target date fund? And does that justify the fees advisers typically charge? And is this why the DOL inserted that reference in Q5 of the Fiduciary FAQ?
Public pension ugliness, the fiduciary fog, and a fee line in the sand.
The world of finance is unforgiving. You can’t sweet talk your way out of a bad decision and, quite often, a blunt demeanor can get a job done more effectively and efficiently than the soft ambiguity of diplomatic language.
Who’s to blame for the retirement crisis, a whole new fiduciary world, and condemned to repeating investment history.
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Wither regulators? Wither fiduciary? and Zeroing in on fees.