Perhaps the usual focus on the fairy tale version of retirement has led to the problem of post-retirement disappointment. To counter this, pre-retirees are vowing to avoid the mistakes of their older brothers and sisters.
Basic Members
How a Fiduciary Can Better Prepare Pre-Retirees to Avoid that “What’s Missing” Feeling in Retirement
One way to overcome this lack of purpose is to treat retirement itself as a mission… purpose all comes down to two words: “Get Involved.”
If we understand thoroughly what happened to each generation during its unique formative years, we can then make sense of the unique and powerful core values that guide that generation’s unique decision-making, including the decisions about their money.
The financial news media and the investment industry constantly bombards employees with reminders to save for environment. It’s probably the most recognized financial goal people have. Could it be, then, that society has built up such an aura around retirement that the anticipation exceeds the actual event?
Still, others remain cautious, especially given the novelty of the idea and the fact it remains untested.
As we approach clarity with regards to Congressional action and/or implementation of the Trump Executive Order, we may find need to expand these MEP guidelines. Until then, though, companies in business associations where commonality exists may wish to use these ground rules when determining if a 401k MEP is the right course to take.
“…the best efforts of those focused on product, not investors, are ultimately doomed to failure.”
“In 5 years, I think investors will be considerably worse off if SEC does go forward with its proposals without substantial change.”
Still, if one has confidence the marketplace will drive the industry towards focusing on the best interests of clients, then a de facto fiduciary standard can emerge organically, without overt reliance on regulators.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 9/7/18
MEPs, Fees, and Leveling the ETF playing field.