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modestobulldog

Obama wants to help with your retirement

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http://nypost.com/2015/02/28/white-house-looking-to-creep-into-401ks/

 

With the $2,500 / year families are now saving with the ACA, abundant access to mortgages and lower banking fees resulting from the doddling - frank bill, can't wait for how Obama plans to help with our 401k's and IRA's.  

 

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I can't trust the legislation that comes out of the WH right now.  They seem like these rushed products with no analysis on impacts.  This seems like it would be another.

 

I don't doubt that brokers steer investments to things that make them better gains, but perhaps investors should do some research before investing as well.

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The business that surrounds investing is as dirty as it gets.  I have never known a money manager who was looking out for his clients interests primarily.  

 

You would do better by just buying low cost vanguard funds then hiring any money manager.

 

 

 

Saying that, the federal government and Obama certainly can't fix it.  They will make it worse if they even try.

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I can't trust the legislation that comes out of the WH right now.  They seem like these rushed products with no analysis on impacts.  This seems like it would be another.

 

I don't doubt that brokers steer investments to things that make them better gains, but perhaps investors should do some research before investing as well.

The GOP consumer protection program...

 

"Let the buyer beware!"

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The GOP consumer protection program...

 

"Let the buyer beware!"

Should we not maneuver in the marketplace as informed consumers?  And isn't the best way to be informed is by researching the products yourself?

 

You wouldn't buy a house without some form of due diligence.

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Should we not maneuver in the marketplace as informed consumers?  And isn't the best way to be informed is by researching the products yourself?

 

You wouldn't buy a house without some form of due diligence.

why bother when we can have the govt there to make all our decisions for us and protect us from our own bad decisions?

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why bother when we can have the govt there to make all our decisions for us and protect us from our own bad decisions?

Yep, it's much better to declare open season on the consumer by unscrupulous business people by allowing deceptive unethical business pratices.

 

"Hey, It's not my fault, it the customer is not sophiscated enough to figure out my scam."

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Yep, it's much better to declare open season on the consumer by unscrupulous business people by allowing deceptive unethical business pratices.

 

"Hey, It's not my fault, it the customer is not sophiscated enough to figure out my scam."

I know right?  I mean these guys scream fly by night scam artists and are hardly regulated by the FDIC and SIPC, the SEC and FINRA.  When will we learn that these guys are just skating off with our 401k's and IRA's by the truckload!!!!  Govt intervention now!!!!!

 

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Yep, it's much better to declare open season on the consumer by unscrupulous business people by allowing deceptive unethical business pratices.

 

"Hey, It's not my fault, it the customer is not sophiscated enough to figure out my scam."

Investments carry risk.  I don't espouse that Wall Street is a perfect system, but if you are comfortable with your returns, you play the market. 

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Investments carry risk.  I don't espouse that Wall Street is a perfect system, but if you are comfortable with your returns, you play the market. 

Exactly.  If you want a safe no rick investment then put it in a savings account.  Don't put it in a 401k set on aggressive returns and then comeback bytching about how wall-street lost all your money.  All these big firms have help lines and agents that can talk to you about what you want with your 401k and how you want to invest it.  Pretending that the brokers are there doing sketch high risk trades without your input is beyond disingenuous.

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I guess we're all idiots..We need to be told what to eat, what to drive, what to drink, where to shop, where to go on vacation, what products to buy , what kind of cloth bag we should carry those products in.

 

How gluten, monosodiumglutamie, coffee, soda, trans fats, preservatives and sodium are going to kill us.

 

We can't ride bikes without helmets. skateboards without elbow pads and cross streets between intersections.

 

What ever happened to being a MAN and being responsible for your own well being.

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Exactly.  If you want a safe no rick investment then put it in a savings account.  Don't put it in a 401k set on aggressive returns and then comeback bytching about how wall-street lost all your money.  All these big firms have help lines and agents that can talk to you about what you want with your 401k and how you want to invest it.  Pretending that the brokers are there doing sketch high risk trades without your input is beyond disingenuous.

 

Hell no man.  I want all of the upside risk and the rest of you to assume my downside risk.  Gawd I luv America!!!

The World Needs More Cowboys!

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Hell no man. I want all of the upside risk and the rest of you to assume my downside risk. Gawd I luv America!!!

you would! This whole corporate America is only out to screw everyone attitude is ridiculous. Most everyone does business ethically and with a conscience but we have to penalize everyone so we can go after the 1% of corrupt businesses.
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Exactly.  If you want a safe no rick investment then put it in a savings account.  Don't put it in a 401k set on aggressive returns and then comeback bytching about how wall-street lost all your money.  All these big firms have help lines and agents that can talk to you about what you want with your 401k and how you want to invest it.  Pretending that the brokers are there doing sketch high risk trades without your input is beyond disingenuous.

 

Pretending that your money manager who you pay huge fees to.  Can out perform, a no-load Vanguard index fund over time that charges you almost nothing for management.

 

Is delusional as Warren Buffett proved.     http://www.marketwatch.com/story/warren-buffett-on-track-to-win-hedge-fund-bet-2014-12-04

 

 

The money management business is as dirty as it gets and some of its practices would be considered outright theft in another venue.

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Pretending that your money manager who you pay huge fees to.  Can out perform, a no-load Vanguard index fund over time that charges you almost nothing for management.

 

Is delusional as Warren Buffett proved.     http://www.marketwatch.com/story/warren-buffett-on-track-to-win-hedge-fund-bet-2014-12-04

 

 

The money management business is as dirty as it gets and some of its practices would be considered outright theft in another venue.

401k's are not hedge funds.  nor are they what the entire conversation was about. 

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When you had investment banks colluding with rating companies to give AAA ratings to mortgage backed derivatives. And the same investment banks pushing them to customers while at the same time shorting them. I'd say there needs to be more oversight.

Costumers doing due diligence check the fund rating with S&P. They say it's all good. Yep, it's all the consumer's fault.

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When you had investment banks colluding with rating companies to give AAA ratings to mortgage backed derivatives. And the same investment banks pushing them to customers while at the same time shorting them. I'd say there needs to be more oversight.

Costumers doing due diligence check the fund rating with S&P. They say it's all good. Yep, it's all the consumer's fault.

Basic investment common sense says you should not put all your eggs in one basket.

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When you had investment banks colluding with rating companies to give AAA ratings to mortgage backed derivatives. And the same investment banks pushing them to customers while at the same time shorting them. I'd say there needs to be more oversight.

Costumers doing due diligence check the fund rating with S&P. They say it's all good. Yep, it's all the consumer's fault.

There is a big difference between government allowing shady real estate practices such as rating mortgages wrong, than a money manager giving you only a 3% return instead of 3.5% because he picks up a little bit extra.  The biggest one being that it is not illegal to do so, and also that you can change your manager, or do it yourself.  It isn't the ethical thing to do, by any stretch of the imagination, but do you trust this same governance that couldn't figure out the ratings scam to meticulously analyze portfolios for individual retirement funds? 

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I would bet that the overwhelming number of people who might be taken in by an unscrupulous money manager don't use money managers.  They probably allocate 401k contributions into the funds their employers have made available.  Another case of a government solution in search of a problem.

 

I don't want the government anywhere near my or your retirement funds.  I don't want their foot in the door.  I don't want their eyes to even get a chance to look longingly at the trillions of dollars sitting there.  Once they start "helping" us with our retirement funds, it won't take too many decades (years?) before they seize it all to help better protect us.

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