More sophisticated plan participants who can afford to hire their own adviser. They don’t ask more from the plan. They ask for less, in hopes of gaining more control over their own destiny. For a variety of reasons, this isn’t as easy as some participants would like it to be.
Tag "financial literacy"
There’s a perverse incentive working here, however. The more aggressive a plan sponsor gets in terms of promoting “financial wellness,” the more likely that plan sponsor will accidentally cross some compliance line.
The problem with Sequence of Return Risk is that there’s no way of knowing if you’ll experience it. It’s a roll of the dice. The best way to avoid this risk is to prepare as if it were going to happen.
Learning to budget isn’t a single lesson. It’s a series of lessons that get more advanced as the student progresses.
States don’t run, fee scruples, and Bogle’s Bombshell.
“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.”
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 4/12/19
Tangled compliance, a broken fiduciary record, and irrational fees.