Re: where is the leak
mInvestor
8/8/2012 5:11:03 PM
Jack,
A big thank you. You did a great job to explain this problem, and did an excellent job to set up a website and provide useful tools and info to help average investors. Hopefully we will see more in the near future.
Watchdog,
Could'nt agree more!
Basically what you are saying is that you can only Help people who want to be Helped !!!
You are doing an awesome-awesome job here.Please keep up the Good work!
Investor awareness and knowledge is key.
Good thing is thanks to dedicated organizations like yourself(and Websites like IU);Investors are able to think better and figure things out on their own on these critical issues.
Its become much tougher for Wall Street to take investors for a ride today!
But then as they say,A Fool and His Money are soon parted!
Regards
Ashish.
Re: where is the leak
Watchdog
8/1/2012 9:27:49 AM
Wall Street benefits from the problem so it has no interest in solving the problem.
Regulatory agencies, FINRA and the SEC, are controlled by Wall Street so they make a little noise, but are not part of an effective solution.
Politicians are controlled by Wall Street interests that spend $350 million on lobbyists. They will also make noise, but are not part of an effective solution.
That leaves investors. They have to take more responsibility for their financial futures. I am not optimistic about this one. Very few are willing to commit time to learning and protecting their financial futures. They want as organization to do it for them.
InvestorWatchdog.com provides free tools that solve the problem. The tools do the work for investors so it is a simple, easy process. However, investors still have to take the initiative.
Our experience shows it is very difficult to help people who do not know they have a problem. They simply don't know what they don't know and Wall Street likes it this way.
WatchDog,
I agree.
Its the Job of Honest professionals like yourself to bring up these issues with greater clarity.
Otherwise how will investors know whos corrupt and who is Ethical?
Please keep up the Good work.
WatchDog,
How do you solve this very serious and real issue about Conflict of Interest?
I unfortunately don't have any real answers here.
You can't legislate Morality.
whether we like it or not.
Ashish.
Value,
There is one thing you could do.
Use a Roth IRA.
Re: where is the leak
Watchdog
7/31/2012 7:29:43 PM
Another problem is plan trustees are frequently senior executives and managers in their companies. It is hard for participants to criticize their actions when trustees are in a position to damage careers.
Unfortunately, trustee decisions impact when plan participants retire and their standard of living during retirement years. They should take their responsibilities more seriously, but most are influenced by product providers who take advantage of the relationships to benefit themselves and their companies.
@Jack,
Thanks. I like your site and will recommend it to a friend who can benefit from it.
PC
The problem with 401K plan is: for most participants, they don't have the option to pull the assets out as long as they are still working for the company. This is the root of all issue. In my case, 90% of people who quit their job, rollover their money to their own IRA plan.
It is embarrassing to know someone is ripping you off, but you can not do anything about it.
Re: where is the leak
Watchdog
7/31/2012 12:37:49 PM
Not to be too cynical, but investors accept what happens to them because they do not believe they have the power to change anything. The problems are too big and too pervasive. A class action lawsuit would be a step in the right direction.
Wall Street, Washington D.C., and the regulatory agencies they control are not going to change. The change has to come from investors (see first paragraph).
I wonder how many investors terminated their relationships with Goldman Sachs and Citigroup after they paid hundreds of millions of dollars of fines for cheating investors. Probably very few - it was the other guys' problem.
Investors real power is moving their assets to ethical firms who acknowledge they are fiduciaries and practice full transparency with comprehensive documentation.
The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.
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