Investors have lost billions of dollars on 401k retirement plans while the industry has made billions for its employees, managers, and distributors.
401k retirement plans
They said “Leave the money management to us”.
The primary promise of the traditional for-profit mutual fund industry that it’s smart to pay a star fund manager huge money to pick stocks for you — is blown apart by performance data, which shows that the vast majority of funds lag low-cost index funds every year.
And the minority of funds that beat index funds this year — about a third in most years — won’t likely beat them next year or the following year.
The fact is that the clients of most traditional mutual funds would be considerably better off if the fund employees just shut their firms down, re-allocated their client’s money to low-cost index funds, and found other work to do. Equally unfortunately, however, the other work would likely pay significantly less well than the for-profit mutual-fund industry — which is why so few of the folks in the industry do the work necessary to understand these realities.
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Great Wall Street Retirement Scam What THEY Don’t Want You to Know about 401k retirement plan , IRA and Other Plans
In The Great Wall Street Retirement Scam, Rick Bueter leads you through the politics, greed, and control that big Wall Street firms have over American workers employer sponsored savings programs.
Once you understand the critical questions he brings up in the book, everything about how Wall Street is scamming American retirement savers becomes clear.
When you finish reading, you will know the truth about where and how financial security in retirement is created.
It’s the truth THEY don’t want YOU to know!
Read more about the Great Wall Street Retirement Scam.
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