UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next
Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75523  
Subject: Bonds. Lotsa Bonds. Date: 9/15/2013 10:55 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
(Preface: I posted a version this somewhere else, but not getting much response. Also, I'll do almost anything to interrupt the thread here that has swallowed its own tail....)

I'm set to retire this coming June. In anticipation of this, the folks at TIAA-CREF (where my 403b money resides) invited me in for a financial checkup.

They offer this service gratis, but they also let you know that you can engage them to manage your money for you ... for, in my case, 0.55% per annum.

Their computer took in all my personal info, objectives, etc., etc., and spit out the results for me. The computer's advice is that I pay somebody 0.55% of my money to put 89% of it into five muni funds, 6% in a short-term bond fund, and 5% in a stock fund.

I'm supposed to pay someone $5K/year to do that? Really?

Has the computer looked at what is happening, or is likely to happen, to munis? Or to bonds in general?

Do the "advisors" ever conclude that their computerized advice may be silly, or worse?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Berkshire Hathaway

Brookfield Asset Management
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement