UnThreaded | Threaded | Whole Thread (44) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: BruceCM Big red star, 1000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76088  
Subject: Re: Loaded Funds, IRA Date: 2/21/2011 1:27 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
Let me offer a slightly different twist on your situation.

First, I agree that ML, based on their past track record, is one of the last places I would have deposited ANY of my money. Do a Google search on Merrill Lynch + SEC + Fines. I think ML holds the recond on the most frequent and highest fines and penalties from both the SEC and FINRA. Note: if you do the same but use 'Vanguard', you should find 0 (thats ZERO fines and penalties)

But to your situation...

You mention that you have little time...how much interest do you have? Those who have little to no interest in asset allocation and rebalancing, should probably seek the advice of someone who will provide the advice and execute the MF investments, rebalance at specific points and have the discipline to stay invested. Contributions, asset allocation and discipline are the difference between those who retire comfortably and those who do not.

Now, a 12th grader has enough smarts to do this...thats not the question. The question is do you have the interest to do it and stick with it.

The next question is do you plan on staying with this new employer's 401(k)? If it has a match, you should probably contribute to that level only, and direct the remainder of your retirement savings to your Roth IRA.

One final note. Beginning July of this year, qualified retirement plan service providers must report ALL expenses to the employer, who must then, beginning Nov 1, include ALL such expense information that is paid by the plan or by the employee, to each employee. Because most plans are on a calendar year basis, the first full reporting of expenses to the employees will not begin until Jan 2012. Just a guess, but I think there will be many angry employees when they found out how much it is really costing them....

BruceM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (44) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Apple

Wal-Mart Nixes Apple Pay
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