The real prize, though, comes courtesy of following Ben Franklin’s advice. Once you convince them to save and they see the perpetual motion machine known as “compounding,” your job is done.
Tag "saving"
It’s in everyone’s best interest to be successful, so it’s part of a fiduciary’s duty to show them how.
Long-term investors like retirement savers can easily act like a fiduciary for their own assets. All they need to do is look in a mirror – but not for their own reflection. Look in a mirror a retirement professional is looking into and see how that reflection invests for retirement.
Never belittle the question or the person asking the question. These are sincere queries that represent commonly held beliefs. These beliefs live a Schrodinger Cat-like existence, being generally not quite true and not quite false. It’s critical, for the benefit of all retirement savers, that these questions be asked and that fiduciaries encourage their asking. This is the only way that allows the fiduciary to respond in the second noteworthy way: By using these questions to refute misconceptions and promote good retirement saving decision-making.
Is there really a retirement crisis? A fiduciary can of worms? And what’s a reasonable fee?
Retirement policy conflicts, shifting sands of fiduciary, and turning the screw on MPT.
Compliance craziness, Fiduciary Rule rising, and tossing MPT (and Indexing, too?).
States don’t run, fee scruples, and Bogle’s Bombshell.
Thanks in part to media reporting, retirement savers objectives are often misplaced. Striving for a high return or outpacing a particular index does not make for a successful retirement savings strategy.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 11/17/17
Government gangsters, boxers, and fee mongers.