More sophisticated plan participants who can afford to hire their own adviser. They donât 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 isnât as easy as some participants would like it to be.
Tag "financial literacy"
Thereâs a perverse incentive working here, however. The more aggressive a plan sponsor gets in terms of promoting âfinancial wellness,â the more likely that plan sponsor will accidentally cross some compliance line.
The problem with Sequence of Return Risk is that thereâs no way of knowing if youâll experience it. Itâs 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 isnât a single lesson. Itâs a series of lessons that get more advanced as the student progresses.
States don’t run, fee scruples, and Bogle’s Bombshell.
âMillennials seek instant gratification. Putting money away today to live off of forty years from now isnât nearly as sexy as a trip to Thailand with your girlfriends or tickets to the World Series. Iâm not saying thereâs anything wrong with that, but youâve 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.