Please read your original post to see if the quotation marks that were in the post still line up properly. If not, you may want to edit your original post.
Edited on 10/20/2011 to replace the word "update" with "edit."
Search found 736 matches
- Thu Oct 20, 2011 8:57 am
- Forum: Investing - Theory, News & General
- Topic: 401(k) - Things You Should Never Say to Your employer.
- Replies: 18
- Views: 5652
- Sat Oct 15, 2011 7:27 am
- Forum: Investing - Theory, News & General
- Topic: 401(k) - Things You Should Never Say to Your employer.
- Replies: 18
- Views: 5652
HardKnocker, the quote you used in your post nailed it when it comes to investing, IRA accounts, 401(k) plans, and 403(b) plans. "A fisherman can see another fisherman from far away." -- Gordon Gecko (Wall Street) When you learn the stuff that people teach on this Web site you can spot an expensive plan at a glance! That's why it behooves employees to learn this stuff. Remember, it's in your own best interests to show this Web site to associates. It's like this. When you get enough employees on board with these ideas and they can clearly verbalize how they want the 401(k) plan to look, the change that will benefit YOU and them will come easier and faster. P.S. More information on how to set up, manage, and monitor an optimal 401(k...
- Fri Oct 14, 2011 8:14 am
- Forum: Investing - Theory, News & General
- Topic: 401(k) - Things You Should Never Say to Your employer.
- Replies: 18
- Views: 5652
Update: The two lists that were in this post were moved to very first post, which is at the top of this page. 3CT_Paddler said, "Usually they are defensive about their 401k choices and don't want to be told they have made a mistake." So, I used his tip to create list #1, and to start list #2. lawman3966 helped me with the foundation for list #1 by coming up with items 5, 6, and 7 on Things you should never say to your employer. Again, I have included a link to this thread under the following articles under "Forum discussions." -- Setting up a 401k plan -- How to Campaign for a Better 401(k) Plan Edited on 10/14/2011 to fix the links to the tow articles, organize the information, rephrase a few sentences, and include new...
- Thu Oct 13, 2011 5:13 pm
- Forum: Personal Investments
- Topic: 401k fund selection - Switching to Employee Fiduciary
- Replies: 21
- Views: 2551
I am not associated with any of the service providers, nor am I paid in any way, shape, or form by anyone. For many years I was a plan consultant. These days I am happy to provide free education for employers and employees.johnamus wrote:Thanks for the advice Frank, are you affiliated with EFC?
Regarding your other questions, I am not sure what you are asking me. Are you asking if you should hire an adviser to represent your company at the meeting with Employee Fiduciary and the named fiduciary(s) for your company? Or are you saying that Whit can only do the presentation by teleconference or Web conference, and is it a good idea to hold a meeting in that format?
- Thu Oct 13, 2011 4:17 pm
- Forum: Personal Investments
- Topic: 401k fund selection - Switching to Employee Fiduciary
- Replies: 21
- Views: 2551
I have managed to convince the financial manager of my company that switching to EFC is the prudent move. It's at the point where we just need the owner's yea or nay before proceeding on with the change. When formally proposing the change, the conversation will undoubtedly move to "will the new plan offer the same investment options?", and if I keep a few funds to match our current choices I can say "yes... plus we'll save over 1% per year on expenses". Your best bet is to allow Whit Tanner to make the presentation because many things will come up in the meeting that you can't answer. You will be doing a great service to the other employees if you set up the meeting and allow Employee Fiduciary to make the presentation....
- Thu Oct 13, 2011 3:49 pm
- Forum: Investing - Theory, News & General
- Topic: Ameriprise employees sue firm for lousy 401k choices
- Replies: 74
- Views: 12101
I understand your point, but I was talking about what a low cost plan looks like--not who will get into trouble for the decisions that they have made.Oneanddone wrote:Are you sure about this? I've never heard of a fiduciary getting in trouble for not having a core mix of low cost index funds.
Managed funds (whether they are expensive or not) are the preferred choice for many plans as is expensive recordkeeping and administration.
It's like this: Unless the employees take their employer to court, the named fiduciary(s) probably won't have to explain to anyone why they believe the plan is in the best interests of employees and their beneficiaries; especially, if they have documented why they made each decision.
- Thu Oct 13, 2011 11:29 am
- Forum: Investing - Theory, News & General
- Topic: 401(k) - Things You Should Never Say to Your employer.
- Replies: 18
- Views: 5652
401(k) - Things You Should Never Say to Your employer.
Please continue to post your comments on the Things you should NEVER say to your employer because you never know who will use your ideas and have success with them. Most employees who lobby for a low cost plan are not successful, so a few guidelines on What NOT to say and What to say may improve your odds of success as you lobby for a low cost 401(k) or 403(b) plan at your organization. Note: I have included a link to this thread directly below the following two articles in "Forum discussions." - http://www.bogleheads.org/wiki/Setting_up_a_401k_plan - http://www.bogleheads.org/wiki/How_to_Campaign_for_a_Better_401(k)_Plan Also, the following thread has Five Simple Steps for setting up, managing, and monitoring a 401(k) plan that i...
- Thu Oct 13, 2011 10:18 am
- Forum: Personal Investments
- Topic: 401k fund selection - Switching to Employee Fiduciary
- Replies: 21
- Views: 2551
I'm in the process of lobbying for a switch of my company's 401k vendor from Principal (boo!!) to Employee Fiduciary (Yay!!!). The next step is fund selection. Congratulations! You are getting some good advice from the folks who post here. You can't go wrong by keeping it simple. For instance... People make much better choices when they have to compare only a handful of unfamiliar things rather than a few dozen, and this goes especially for investments. I think a basic outline that covers most of the bases would be: Money Market Total Bond Total Stock Total International Stock Retirement 20xx If you want to add the next level of complication, maybe: Stable Value Long Term Treasuries REIT Developed Foreign Stock Index Emerging Markets Large...
- Thu Oct 13, 2011 8:56 am
- Forum: Investing - Theory, News & General
- Topic: Ameriprise employees sue firm for lousy 401k choices
- Replies: 74
- Views: 12101
I don't know why people work where they do but if you are a fiduciary, it's your duty to know what a truly low cost plan that benefits the employees looks like.
1. It has low cost recordkeeping and administration.
2. It has a core mix of low cost index funds.
3. It may have Self-Directed Brokerage Accounts.
Will Ameriprise settle out of court? Will they defend the cost of the plan in court? We shall see!
A few years ago I read the book The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns. On page 39, Mr. Bogle said, "Paraphrasing Upton Sinclair: It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it."
1. It has low cost recordkeeping and administration.
2. It has a core mix of low cost index funds.
3. It may have Self-Directed Brokerage Accounts.
Will Ameriprise settle out of court? Will they defend the cost of the plan in court? We shall see!
A few years ago I read the book The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns. On page 39, Mr. Bogle said, "Paraphrasing Upton Sinclair: It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it."
- Wed Oct 12, 2011 5:35 pm
- Forum: Investing - Theory, News & General
- Topic: A Firm is an RIA, Not a Person.
- Replies: 22
- Views: 6434
I got an answer to your question from an official at the U.S. Securities and Exchange Commission. He called me today and said that a sole proprietor doing business using his or her own name can say "I am a registered investment adviser (RIA)."ddb wrote:What if there is no dba, i.e. the individual markets his/her practice under his/her own name as a sole proprietor?
- DDB
Edited on 10/12/2011 to put the quotation marks shown in my last sentence.
- Wed Oct 12, 2011 4:15 pm
- Forum: Investing - Theory, News & General
- Topic: 401ks and adviser fee question
- Replies: 3
- Views: 678
Re: 401ks and adviser fee question
They announced that offer recently: https://institutional.vanguard.com/VGApp/iip/site/institutional/clientsolutions/dc/smallbusiness Thank you for the tip that Vanguard's new 401(k) plan service is ready for business. I updated Vanguard's information at the thread "Who else wants to know how to lobby for a lower cost 401(k)," which is at http://www.bogleheads.org/forum/viewtopic.php?p=1158145#1158145 Below is the updated information: Vanguard Group Note: Vanguard now offers a bundled 401(k) plan service to small companies with plan assets under $20 million: "The new comprehensive, turnkey service includes funds, recordkeeping, call center services, compliance testing, participant education, and optional services such as part...
- Wed Oct 12, 2011 10:31 am
- Forum: Investing - Theory, News & General
- Topic: 401ks and adviser fee question
- Replies: 3
- Views: 678
Re: 401ks and adviser fee question
Do not want to step on any tows either. Ask a named fiduciary, (he or she could be the owner, CEO, president, CFO, board of directors or someone else at your company) to consider the possibility that by using Vanguard's new service he or she can improve the plan for employees and also save the company money. Give the named fiduciary the following information: Vanguard Group Phone: 1.800.523.1036 (Plans with assets of $1,000,000 or more.) Phone: 1.877.662.7447 (Plans with assets of less than $1,000,000) Update: On September 14, 2011 Vanguard published a press release, which said that in the 4th quarter, 2011, it will offer a bundled 401(k) plan service to small companies with plan assets under $20 million: "The new comprehensive, turnk...
- Tue Oct 11, 2011 3:10 pm
- Forum: Investing - Theory, News & General
- Topic: A Firm is an RIA, Not a Person.
- Replies: 22
- Views: 6434
It's a good question, but I did not ask him that one. It would be best for the adviser to call the supervisor at the Department of Corporations in the state that he or she does business in.ddb wrote:What if there is no dba, i.e. the individual markets his/her practice under his/her own name as a sole proprietor?
- DDB
Edited on 10/11/2011 to assign the quote to the proper person, ddb.
- Tue Oct 11, 2011 2:18 pm
- Forum: Investing - Theory, News & General
- Topic: A Firm is an RIA, Not a Person.
- Replies: 22
- Views: 6434
I want to thank Rick, Lady Geek, and everyone who contributed to this important thread. To research this topic I called the Supervisor of The Department of Corporations - State of California. He told me that the proper way for a sole proprietor to disclose to the public that he or she is an investment adviser is as follows: Frank R. Cirullo, DBA First Capital Management, registered investment adviser (RIA). P.S. In the past, to disclose to the public that I am an investment adviser I have mistakenly left out the DBA, and I have simply said Frank R. Cirullo is a registered investment adviser (RIA). Or sometimes I have shortened it to Frank R. Cirullo is a RIA. But Frank R. Cirullo, RIA, is not on my business card, nor do I sign my name that ...
- Thu Oct 06, 2011 8:06 am
- Forum: Personal Investments
- Topic: Kept my Solo 401K too long after hiring employee. Any ideas?
- Replies: 4
- Views: 2146
Re: Kept my Solo 401K too long after hiring employee. Any id
Perhaps they can guide you at the U.S. Department of Labor Employee Benefits Security Administration's Voluntary Fiduciary Correction Program (VFCP). Call this toll-free number 1.866.444.3272, and request the VFCP coordinator.3easypayments wrote:So I'm not sure what to do now. My thought is to not pay anything in for 2011 for me so then neither my employee nor I are using the 401K for 2011 (hoping that makes it okay that it is still a Solo 401K).
Then I would either transfer it into a full 401K plan in 2012 or just terminate the plan and transfer my funds out into an IRA or something.
Can anyone comment as to whether this sounds like a viable (legal) approach, or offer any other recommendations?
Thank you!
- Tue Oct 04, 2011 9:51 am
- Forum: Investing - Theory, News & General
- Topic: Ameriprise employees sue firm for lousy 401k choices
- Replies: 74
- Views: 12101
True! People do the best they can for themselves, and our actions are always based on how we feel about the decisions we make.lawman3966 wrote:If I'm right, advisors who offer excellent service to their clients do so because of their own ethics and professionalism and not because of a govt requirement.
- Fri Sep 30, 2011 3:39 pm
- Forum: Personal Investments
- Topic: Uh-oh. 401(k) woes.
- Replies: 14
- Views: 2807
Re: Uh-oh. 401(k) woes.
Ask HR what "better" means? For instance...gravlax wrote:I just got the announcement today that my employer is changing our 401(k) to a "better" provider.
1. How much do YOU pay for recordkeeping and administration?
2. Will YOU have any surrender fees on the funds that YOU want to use?
3. Is there an adviser fee that YOU pay?
4. Do YOU pay a mortality cost?
5. Can HR list all of the costs that YOU will pay?
It sounds like it's a done deal, so you won't be able to prevent a switch to a new plan. But you can choose how you will participate in the new plan.
- Fri Sep 30, 2011 10:18 am
- Forum: Investing - Theory, News & General
- Topic: Ameriprise employees sue firm for lousy 401k choices
- Replies: 74
- Views: 12101
Why would anyone care about a 1.16% expense ratio--even compounded for 30 years, that's 41%--if you are getting a 100% subsidy? Do Ameriprise employees not get a generous 401(k) match? This is an interesting point! Should employees care if expenses are too high if they end up with more money in their account as a result of the match? And does long term performance matter to employees who get a generous match--do employees believe that long term performance is just a crap shoot, and it does not matter if a core mix of index funds is likely to beat their plan's mix of managed funds long term? To me, what makes this case fascinating is how the high cost of this particular plan will be defended, what Ameriprise's 401(k) clients will do when th...
- Thu Sep 29, 2011 7:23 pm
- Forum: Investing - Theory, News & General
- Topic: Ameriprise employees sue firm for lousy 401k choices
- Replies: 74
- Views: 12101
Re: This is a bit worrisome
Thank you for posting this story, Rick! "The employees assert that the plan lost more than $20 million related to excessive fees and expenses." Wow! Let's see how this legal action turns out. I'm trustee of a small company plan and we have mostly active management funds. The reason is that the funds rebate part of their fees to the company to offset (partially) the cost of running the plan. I did insist that we have a few Vanguard funds : Total stock, total bond and TIPS, so if someone wanted to, they could probably get by with just those three. Hope I don't get sued..... Thank you for sharing this information about your plan. It's like this: Choosing managed funds that have revenue sharing is probably not a good reason to select ...
- Tue Sep 27, 2011 4:43 pm
- Forum: Investing - Theory, News & General
- Topic: Switching 401k Administrators! (Hopefully)
- Replies: 2
- Views: 692
- Fri Sep 23, 2011 7:08 am
- Forum: Personal Finance (Not Investing)
- Topic: "I Have The Gift Of Stunning Insight Into Markets"
- Replies: 2
- Views: 915
- Fri Sep 16, 2011 4:56 pm
- Forum: Investing - Theory, News & General
- Topic: "Know Just Enough to Succeed"
- Replies: 8
- Views: 2420
To me, this was an interesting exchange: Question: Reading your book and your blog, I get the sense you have a taste for speculation when it comes to your own money. Answer: Do I ever. But after decades of frugality, good fortune, and the magic of compound interest, I can afford to take a lot more risk than most people. And I diversify over a lot of nutty speculations, which cuts the risk somewhat. Of course, it's only after they fail that I realize just how nutty they were. My guess is that young people, too, believe that they can afford to speculate on nutty investments and take more risk. Is there an age where people don't have the urge to touch nutty investments? Or is it simply a case where the urge is always there, but experience with...
- Fri Sep 16, 2011 10:46 am
- Forum: Investing - Theory, News & General
- Topic: Who else wants to know how to lobby for a lower cost 401(k)
- Replies: 10
- Views: 5150
In case you missed it, Mel Lindauer started an excellent thread about Vanguard's new bundled service for small companies that have under $20 million in plan assets. It's at http://www.bogleheads.org/forum/viewtop ... 09#1179309
Also, I included an update about Vanguard's new service, above.
Edited on 9/16/2011 to correct a typographical error.
Also, I included an update about Vanguard's new service, above.
Edited on 9/16/2011 to correct a typographical error.
- Wed Sep 14, 2011 1:32 pm
- Forum: Investing - Theory, News & General
- Topic: Vanguard Announces 401k Plans for Small Businesses
- Replies: 28
- Views: 7618
This is a good article. Also, his other article "Best Small Company 401(k) Provider," which is at http://moneywatch.bnet.com/investing/bl ... ntent;col1 is an article that every employer should read.
Best wishes,
Frank
Best wishes,
Frank
- Mon Sep 12, 2011 4:13 pm
- Forum: Personal Investments
- Topic: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking points
- Replies: 53
- Views: 9399
Oh, I almost forgot. Were you able to find out from the CFO if your plan has a termination fee as well as surrender fees on each mutual fund? I am asking because the longer your company stays with John Hancock the more expensive it will be to terminate your current plan and switch to one with a lower cost. Reference: On June 2, 2011, you started the thread " How do 401K Plan Providers decide on Expense Ratios" , which is at http://www.bogleheads.org/forum/viewtopic.php?p=1071898&highlight=#1071898 On June 3, I posted this: Important: Your current plan may have a termination fee as well as surrender fees on the plan's investments. Don't worry, the TPA will help you freeze the old plan and set up the new plan. Then, each year yo...
- Mon Sep 12, 2011 12:15 pm
- Forum: Personal Investments
- Topic: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking points
- Replies: 53
- Views: 9399
I now smell some conflict of interest on part of the broker for not ashowing us the fidelity option? So he wouldn't get a cut if we went with fidelity if he presented the option? The CFO who you met with is one of the owners, but he may not be the real decision maker for the plan--he may just rubber stamp decisions that are made. It's difficult to find out who the real decision maker is because he or she may not be one of the owners--it could be the HR Supervisor or even a secretary who does not attend any of the meetings with service providers. Changing someone's mindset takes time and it may never happen. So, at this point you can just work on being helpful by dripping on all of the owners--give them information such as a DoL fact sheet ...
- Mon Sep 12, 2011 10:06 am
- Forum: Investing - Theory, News & General
- Topic: Another Investment "Advisor" now @ GrayBar Inn
- Replies: 18
- Views: 2847
The formula for cheating people will always work even on people who think they are too smart to fall for something as silly as that. :shock: Sounds like you know way too much about this subject Frank. Just sayin... Psst. I know where you can get affordable faster horses. I know people who can introduce you to younger women who will pretend to like you. I know where you can get older whiskey at wholesale. And I can show you how you can make money fast. Not necessarily in that order! But you have to promise me that you will keep it a secret! Okay? Isn't it amazing how we are our own worst enemy? But let's not blame the victim. That would be wrong! Always blame the crook, and put him or her in jail or prison. The best defense is to not want w...
- Sun Sep 11, 2011 1:20 pm
- Forum: Investing - Theory, News & General
- Topic: Another Investment "Advisor" now @ GrayBar Inn
- Replies: 18
- Views: 2847
Even sophisticated investors can fall into a trap set by a crook--catch someone at the right time with a good story and who knows how much they will invest with a good con artist. Greed: If you buy this now you’ll have a better financial future because it's safe, it pays you a high income, and it has tax benefits. 1. "Venetis told investors that she would use their money to fund loans to doctors that would be backed by Medicare reimbursement payments to those doctors, SEC officials said in its complaint." 2. "Venetis had agreed to a settlement with the SEC that is pending court approval, orchestrated the scheme through the sale of phony promissory notes, which she told clients were tax-free and FDIC-insured and would earn ann...
- Sat Sep 10, 2011 11:50 am
- Forum: Personal Investments
- Topic: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking points
- Replies: 53
- Views: 9399
Remember, everything is negotiable. Your employer can ask John Hancock if they will waive the set up cost for the self-directed brokerage account and negotiate a lower annual fee for it. If not, your employer can try to negotiate a lower cost for it.klimaye wrote:Our 401K plan does have the option to opt for an brokerage account. Cost if 60 bucks per buy and $500 setup fee.
I am weighing if the cost of setting this up around $800 (500 + possibly 6 funds = 300) is worth it Vs sticking with 1% or more expense rations.
Currently the owner and the CFO have this kind of setup.
Apparently, your employer is not interested in switching to another plan, so it behooves you to do the best you can for yourself.
- Sat Sep 10, 2011 11:07 am
- Forum: Personal Investments
- Topic: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking points
- Replies: 53
- Views: 9399
This is an excellent thread--the advice given is great! I've included this thread in the Forum discussions portion of the wiki article Setting up a 401k plan If the employer had agreed to meet with Employee Fiduciary and/or Fidelity (or any low cost service provider), these people are professionals and they know a plan sponsors objections before he or she even brings them up. Service providers are constantly in training so that there are no surprises in a presentation and they can answer every question/objection. For instance, if a company does not want to pay for any of the costs of a plan, livesoft pointed out that employees can pay for the plan and they will still save a ton of money by switching to a low cost provider. Employees pay for...
- Thu Sep 08, 2011 9:05 am
- Forum: Personal Investments
- Topic: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking points
- Replies: 53
- Views: 9399
Re: Meeting with CFO:EmployeeFiduciary Vs JH 401K Talking po
The reviewers said that they would recommend staying with JH especially if we are happy with our broker. Apparently he trusts the advice of these independent reviewers, which means he may not want to understand how switching to a lower cost provider will improve things for him and the company. When I quizzed him about our expense ratios, he said that given our size of 401K assets, this is best ER we can get. Obviously, he has only met with experts who sell expensive plans. He wants to have lunch tomorrow to discuss this. I want to be prepared with talking points for this. Keep it simple. Show him the cost of index funds (as low as 0.07% per year), and ask if he will allow Employee Fiduciary and Fidelity to show him how they can save both t...
- Tue Sep 06, 2011 8:53 am
- Forum: Investing - Theory, News & General
- Topic: One man's hunt for a better 401(k) plan
- Replies: 1
- Views: 417
It's another good article by Ron Lieber. Thank you for posting it.
In the article Ron mentioned the following recordkeepers that you may want to Google for information and/or call them for a quote if you are thinking about switching to a lower cost plan or setting up a brand new plan: Employee Fiduciary, Online 401(k), Invest n Retire, ShareBuilder 401(k) plan, and Charles Schwab's new plan that includes only exchange-traded funds.
Edited on 09/06/2011 to correct a typographical error.
In the article Ron mentioned the following recordkeepers that you may want to Google for information and/or call them for a quote if you are thinking about switching to a lower cost plan or setting up a brand new plan: Employee Fiduciary, Online 401(k), Invest n Retire, ShareBuilder 401(k) plan, and Charles Schwab's new plan that includes only exchange-traded funds.
Edited on 09/06/2011 to correct a typographical error.
- Mon Sep 05, 2011 5:49 pm
- Forum: Personal Investments
- Topic: 401k's, ERISA, and index funds
- Replies: 9
- Views: 1658
Re: 401k's, ERISA, and index funds
Any ammo you can provide is appreciated - thanks Tell your employer that no one will sue him or her for selecting a diversified menu of truly low cost index funds. Why? No expert will go to court and try to prove that they picked a mix of managed funds that beat a mix of index funds--long term. They would look stupid, and they know it! The bottom line is the bottom line: A plan sponsor's (employer's) chances of being sued for attempting to pick a menu of managed funds that will beat the market are greater than his or her chances of being sued for selecting a diversified menu of truly low cost index funds that's guaranteed to match the market's performance less the employees' cost. See? By the way, what does low cost mean? Today, small and ...
- Fri Aug 26, 2011 10:20 am
- Forum: Investing - Theory, News & General
- Topic: Jim Cramer drinks fracking fluid
- Replies: 4
- Views: 2104
Re: Jim Cramer drinks fracking fluid
People can change the way they do business, but they have to want to. Watch part 2 of this interview (it's about 2 minutes) that Jim Cramer did with Jon Stewart in 2009, and you be the judge. http://www.thedailyshow.com/watch/thu-m ... amer-pt--2Howard Donnelly wrote:What do you think of Jim Cramer, in general?
Note: There is a 30 second commercial at the beginning.
- Fri Aug 26, 2011 7:27 am
- Forum: Investing - Theory, News & General
- Topic: Dear Employer, We want to Slice and Dice! Will you let us?
- Replies: 39
- Views: 14524
For people who prefer to tilt, or slice and dice, and/or set up a simple portfolio, you can campaign for the funds that you want your 401(k) or 403(b) plan to have in its menu. That way there won't be a need to open a self-directed brokerage account within your 401(k).
If you want some ideas that you may be able to use to reason with your employer about including the funds that you want, Rick Ferri started an excellent thread, "How Much Small-Cap Value is Enough," which is at http://www.bogleheads.org/forum/viewtop ... 89#1157989
If you want some ideas that you may be able to use to reason with your employer about including the funds that you want, Rick Ferri started an excellent thread, "How Much Small-Cap Value is Enough," which is at http://www.bogleheads.org/forum/viewtop ... 89#1157989
- Thu Aug 25, 2011 3:51 pm
- Forum: Personal Finance (Not Investing)
- Topic: Got my company to switch 401K plans!
- Replies: 8
- Views: 1663
Well done, TRC! For employees who want to learn from your approach and your success I put a link to your thread from the thread "Who else wants to know how to lobby for a lower cost 401(k)." It's at http://www.bogleheads.org/forum/viewtop ... 45#1158145
Edited on 8/25/2011 to fix the link.
Edited on 8/25/2011 to fix the link.
- Thu Aug 25, 2011 3:23 pm
- Forum: Investing - Theory, News & General
- Topic: Who else wants to know how to lobby for a lower cost 401(k)
- Replies: 10
- Views: 5150
In case you did not see it, here is the link to another success story where TRC educated the employer. TRC said, "About 9 months went by, and out of the blue I got an email announcement saying we are switching to Fidelity! I will have now access to the Spartan 500 Index, Spartan International Index Fund, and Spartan U.S.Bond Index Index Fund. I couldn't be happier, and I think this is a really great move for our company."
http://www.bogleheads.org/forum/viewtop ... 54#1161854
Well done, TRC!
http://www.bogleheads.org/forum/viewtop ... 54#1161854
Well done, TRC!
- Wed Aug 24, 2011 11:17 am
- Forum: Investing - Theory, News & General
- Topic: Looking to get into rental properties, book recs and advice?
- Replies: 57
- Views: 6465
Re: Looking to get into rental properties, book recs and adv
I am looking to start getting into the rental property business. I am in my early 30s and my plan is to start slow and get the hang of things and eventually get to the point where I can supplement some of my retirement income. Does anyone have some good books suggestions or other good resources? Any advice for me? Thank you all! Chad 1. Ask the property management firms in your area if they will hire you to be an intern for a few hours per week. 2. In six months or so if you decide to treat owning rental property as a business (not something to do), buy one just property and learn from the lessons that it teaches you. For instance, it will teach you to have enough cash to make payments and repairs when a tenant moves. It will teach you abo...
- Wed Aug 24, 2011 9:02 am
- Forum: Investing - Theory, News & General
- Topic: Who else wants to know how to lobby for a lower cost 401(k)
- Replies: 10
- Views: 5150
If you plan to campaign to improve your 401(k) or 403(b) plan, you may be interested to know that a new thread was started by civisbonus at http://www.bogleheads.org/forum/viewtop ... 27#1160127 . It will give you some great ideas on what to do next.
What I love about this Web site is you can get honest answers and great help from the folks who post here.
If you, too, want help with your campaign, please start a new thread and ask your questions. Or you can ask your questions right here.
What I love about this Web site is you can get honest answers and great help from the folks who post here.
If you, too, want help with your campaign, please start a new thread and ask your questions. Or you can ask your questions right here.
- Wed Aug 24, 2011 8:41 am
- Forum: Personal Investments
- Topic: Any downsides to moving from Paychex to Employee Fiduciary?
- Replies: 7
- Views: 3712
I'm looking to go in to any possible change with our eyes open (I especially don't want to campaign for this and then end up regretting it should we actually make the switch). Smart! You are asking the right questions. As gphang pointed out, you can negotiate the cost of recordkeeping and administration with your current service provider, Paychex Retirement Services. Also, you can ask for a menu of low cost index funds, and you are not required to hire an adviser. The contact person for Paychex is Frank Tortora. The EF site is just fine, we can pick the %s of each fund that we want and reallocate among funds after 30-60 days with no fee (Vanguard trading rules). EF support responds very quickly to requested changes and also responded very ...
- Tue Aug 23, 2011 10:15 am
- Forum: Investing - Theory, News & General
- Topic: Who else wants to know how to lobby for a lower cost 401(k)
- Replies: 10
- Views: 5150
Someone is making a lot of fees on the $ 3 trillion or so invested in 401K plans, and undoing the influence of the 401K industry will require more than threatening trustees with lawsuits. True! Your posts have clarified some of the main fiduciary issues from the employer's point of view. Also, you tipped employees off that change does not come easy--employers do things for their own reasons, and convincing them to improve the plan may or may not be successful. Thank you! Um... How is this not selling something spam?? Please elaborate. with NO low cost options, the company is danger of a lawsuit if they are subject to ERISA requirements. There is some fiduciary responsibility. Yes...the named fiduciary is running down the sidelines with the...
- Mon Aug 22, 2011 1:10 pm
- Forum: Investing - Theory, News & General
- Topic: Who else wants to know how to lobby for a lower cost 401(k)
- Replies: 10
- Views: 5150
Who else wants to know how to lobby for a lower cost 401(k)
Note: The following list of service providers was updated on 10/15/2012. Who else wants to lobby your employer for a 401(k) or 403(b) plan that has menu of index funds and low cost recordkeeping and administration? Below are some great resources that can get your campaign off to a fast start: Resources: Wiki article link: How to Campaign for a Better 401(k) Plan Wiki article link: Setting up a 401k plan Thread: Setting up a 401(k) plan http://www.bogleheads.org/forum/viewtopic.php?t=59347&start=0 Third-party Administrators (TPAs) where you or your employer can get a comparison and a quote: Costco 401(k) plan Note: The Online 401(k) is the TPA/Recordkeeper for the 401(k) plan that Costco offers to employers. Contact person: Robby Forsyt...
- Sun Aug 21, 2011 9:50 am
- Forum: Investing - Theory, News & General
- Topic: Interviews for Forbes Article
- Replies: 16
- Views: 2718
Re: Interviews for Forbes Article
People who contact you with their story may also want to say if they used this opportunity to educate their employer and associates on the damage that high cost 401(k) and 403(b) plans cause. Did they lobby for a lower cost plan that has a menu of index funds?Mel Lindauer wrote:I think you get the drift. Feel free to add anything else you consider relevant.
Edited on 08/21/2011 to correct a typographical error.
- Fri Aug 05, 2011 8:22 am
- Forum: Investing - Theory, News & General
- Topic: How do I convince my parents that forex trading is bad?
- Replies: 19
- Views: 4541
Re: How do I convince my parents that forex trading is bad?
Don't get me wrong, I do believe and subscribe to the bogleheads philosophy - but I wonder if I should just attend that talk about forex trading with an open mind just to learn a bit more what the "other" side has to say. Say this to your parents. "I predict that the salesperson will say this." 1. You won’t get rich overnight. 2. It takes time, effort, and discipline to become a consistently profitable trader. 3. If you have the discipline to become a consistently profitable trader, we will show you how we make money. Note: Do you see the mind games that salespeople play? Quarantine, just remember that people give themselves reasons to do whatever they want to do at the moment. If your parents attend the talk/seminar on...
- Tue Jul 26, 2011 8:22 am
- Forum: Personal Investments
- Topic: 401(k) - Effective date of fee disclosure now April 1, 2012
- Replies: 1
- Views: 498
401(k) - Effective date of fee disclosure now April 1, 2012
For additional information, a news release by the United States Department of Labor is at http://www.dol.gov/ebsa/newsroom/2011/11-1063-NAT.html
- Sat Jul 23, 2011 7:30 am
- Forum: Personal Investments
- Topic: Investment Policy Statements with Mutual Funds?
- Replies: 3
- Views: 719
Re: Investment Policy Statements with Mutual Funds?
The idea of an Investment Policy Statement (IPS) for an individual who does not use a money manager or investment adviser is this: If you are incapacitated, a simple well written IPS that is easy to understand can be used by anyone in your family to manage the family's money. No one will rip off your family's money after you teach them how to use the IPS.ptete wrote:What is it called if it is made between a client and a mutual fund?
You can read about How to draft and use an IPS at http://www.bogleheads.org/forum/viewtop ... 665#852665
Hope this helps!
- Tue Jul 19, 2011 11:24 am
- Forum: Personal Finance (Not Investing)
- Topic: Setting up a 401(K) plan
- Replies: 293
- Views: 72086
The Five Simple Steps is a formula that every employee at any organization can use to communicate with each other and the service providers, better. It's a simple formula that will get everyone on the same page so that anyone including a novice can set up an optimal 401(k) or 403(b) plan FAST. Note: This will be my last post on this thread because when you combine the Five Simple Steps with the other threads on 401(k) and 403(b) plans you have everything that you need to make any plan (start-up, small, or large) optimal. Best wishes, Frank R. Cirullo Update : I asked for suggestions on including some links. Well, Lady Geek suggested that it would be best to put the following topics in the "Forum discussions" and "Frequently a...
- Sun Jul 17, 2011 1:23 am
- Forum: Investing - Theory, News & General
- Topic: A question about "the Dogs of the Dow"
- Replies: 23
- Views: 2868
Re: A question about "the Dogs of the Dow"
Two years ago General Motors filed for relief under chapter 11. Shareholders and bondholders lost their entire investment. What you see trading today is the new GM.kyounge1956 wrote:No, I don't remember GM. What happened?
You have the right attitude--it's the long term return that you get on all ten stocks that matters most. Good luck!kyounge1956 wrote:If I do carry out this idea it will be with perhaps 10% of my assets (and rest of non-fixed in a REIT index fund). At 1% per "dog", complete loss of one stock would be disagreeable but probably survivable.
- Sat Jul 16, 2011 6:34 pm
- Forum: Investing - Theory, News & General
- Topic: A question about "the Dogs of the Dow"
- Replies: 23
- Views: 2868
Re: A question about "the Dogs of the Dow"
The "dogs" method appeals to me because it is straightforward and easy to understand, and reduces the decisions I'd have to make to a manageable number (I'm a chronic ditherer). So if "the dogs strategy doesn't work" just means it no longer outperforms the Dow as a whole, that wouldn't bother me particularly. If "doesn't work" means something worse, I'll have to change my plan. Judging by its track record it appears to work providing you don't tinker with the stragegy. But it's obvious that it will be an emotional rollercoaster ride; especially, if one of the ten stocks stops trading (remember GM?) and investors lose every penny that they had invested in that particular stock. Maybe if they are going to cause ...
- Sat Jul 16, 2011 6:12 pm
- Forum: Investing - Theory, News & General
- Topic: A question about "the Dogs of the Dow"
- Replies: 23
- Views: 2868
Re: A question about "the Dogs of the Dow"
Can you point me specifically to a long-term performance chart? I don't know of one. I only saw the same year-by-year performance that you saw at the site, which is from 1996 to 2010. And, again, do we know that this is "the" Dogs of the Dow, and not some changed or mutated or adjusted ex post facto Dogs of the Dow? It appears that the performance that they show is for the original ten stock strategy. Dog Steps at http://www.dogsofthedow.com/dogsteps.htm#Top : After the stock market closes on the last day of the year, of the 30 stocks that make up the Dow Jones Industrial Average, select the ten stocks which have the highest dividend yield. Then simply get in touch with your broker and invest an equal dollar amount in each of the...