In a nutshell, what was initially considered a âpick me because you like meâ decision on the part of the prospect has been reframed as a âpick me because I sold you investmentsâ decision. Itâs a subtle distinction, but it drives the difference between a fiduciary act and a non-fiduciary act.
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Learning to budget isnât a single lesson. Itâs a series of lessons that get more advanced as the student progresses.
Astute fiduciaries understand this danger. They can proactively head off turbulence before the waters get particularly bad.
Ultimately, if you want to protect yourself and others from making simple mistakes, you must embrace the sin that first birthed those missteps.
Why rely on the vagaries of Washington politics when it comes to their future retirement when you can teach them to control their own destiny?
But, as the clichĂ© goes, âWhat about the children?â Arguably, it is minor children who have the best (and easiest) opportunity to shield themselves from a retirement crisis. They have the advantage of time (to maximize the benefits of compound interest).
âNothing is more in the best interest of the child. The judicious carrot of spending, when managed properly, actually instills a strong sense of and desire to save and, ironically, not spend.â
Would a “Child IRA” be more successful with an associated government matching program?
âThis lack of active involvement could lead to inefficiencies, reduced liquidity, and potential market instability, as prices may not accurately reflect the underlying value of securities.â
For all the rose-colored eyes that have a created a legend flawless certitude concerning memories of a time that never existed, pension plans simply canât measure up to 401k plans.
