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JudyS

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  1. Tony, congratulations on your appointment to this important position and your efforts to ensure your colleagues get a fair deal. I found Loeper's book called "Stop the 401k Ripoff" to be excellent, and he now has a newer book called "Stop the Retirement Ripoff". This gives good advice and methods for discovering the hidden fees. Available at Amazon. For many years I figured the reps, advisors, etc. were liars when I wanted to know about fees. I was wrong. All they know if what their companies teach them, and 99% of them have NO IDEA of what the fees are. Really, they don't. Unfortunately, that means you have to do the homework... hopefully you can get a colleague involved with you to help! Judy S.
  2. JudyS

    Michael Lewis Is At It Again!

    OMG! I never understood the deleterious effect of women in financial circles!! This is certainly an eye-opener and leads us to question the very idea that women should be allowed in the workforce at all, especially at the upper end of administrative (in banking) circles. It's good to see that a man finally understand us and will take appropriate measures to ensure that women return to their proper place -- behind aprons! Oh, I do love Michael Lewis. Don't tell him so, tho. JudyS
  3. This is an interesting -- but a bit scary -- read http://blogs.forbes.com/edwardsiedle/2011/02/24/calpers-involvement-is-no-good-housekeeping-seal-of-approval/?utm_source=alertsnewpost&utm_medium=email&utm_campaign=20110224
  4. JudyS

    In The Vanguard

    Oh, Dan! You are so fortunate! I got to meet my hero Mr. Bogle at a Boglehead convention a couple of years ago (Schullo didn't come -- I wanted to meet him, too!), and my p######o with him is one of my most treasured possessions. To me it's like having the honor of meeting Ghandi, Lincoln, or Mother Teresa; I couldn't prioritize the 4 of them!! JudyS
  5. JudyS

    Montoya Vs. New York State Teachers

    Steve -- Sure, I understand that ERISA has some valuable provisions that some might see as "bendable" to 403(b)s and 457s, but the issue for me is that fact that there are attempts to HIDE the fees, to make them nearly invisible, or present them as "only to be expected", leaving the participant ignorant of the notion that accounts can be had WITHOUT most of those fees. In fact, I had one VERY sincere (snicker here, please)salesshark imply that I should be pleased, that these wrap fees were usually only available on accounts for wealthy folk. It's the deception, the hiding, the unavailability of information that seems a reasonable basis for a lawsuit. To legally naive little old me, anyway. JudyS
  6. All -- There's got to be something here that I don't understand. Why do these attorneys keep bringing these suits in a manner suggesting that 403bs fall under ERISA when they clearly do NOT? What am I missing? The NEA lawsuit was dismissed at least partly for the same reason. This website specifically addresses several unique audiences. Why not attorneys? Can't there be a workshop of something that would bring together ideas to increase the likilihood of not losing these suits and not having them dismissed? This is so SAD! JudyS
  7. All -- There's got to be something here that I don't understand. WHy do these attorneys keep bringing these suits in a manner suggesting that 403bs fall under ERISA when they clearly do NOT? What am I missing? The NEA lawsuit was dismissed at least partly for the same reason. This website specifically addresses several unique audiences. WHy not attorneys? Can't there be a workshop of something that would bring together ideas to increase the likilihood of not losing these suits and not having them dismissed? This is so SAD! JudyS
  8. Readers: Maybe an idea or two here... http://blogs.forbes.com/edwardsiedle/2010/11/16/retirement-dreams-for-smaller-401ks-15000-solutions/ JudyS
  9. Readers -- Here is a new article from Ted Siedle, one my favorite thinker and writers: http://blogs.forbes.com/edwardsiedle/2010/11/16/retirement-dreams-for-smaller-401ks-15000-solutions/ JudyS
  10. JudyS

    Shiny A Light On Murky 401 Fees

    Tony -- Hooray!! This looks like actual progress in the 401(k) fees issue!!!! Any sensible person who has a 401(k) should go ahead and make input to the SEC requesting that the investment firms be denied their requests for exemption. However, if you have a 401(k) and think you know all the fees you are being charged, I do have a lovely bridge in Brooklyn to sell you! JudyS
  11. JudyS

    Long Term Care Insurance Question

    Tony Tony -- Long term care is so complicated; you have to assess your risks and then just jump in -- or not. In our family, 3 of our 4 parents have landed in a nursing home... we're not sure what's going to happen with the 4th. But my FIL was in a nursing facility for about 8 years. Almost no LTC policy would cover that length of stay (I THINK), so a person like this would end up on Medicaid anyway. My father got his LTC policy when he was older and alread ill, so it covered just a year. He used it all and still ended up on Medicare for the last few days of his life. And my mom was as I told you before. That was a confusing case because she was hospitalized several times, each followed by nursing home for a while (which is covered by Medicare for a short period of time) and once -- or was it twice? -- in assisted living. The records needed by Genworth were huge, and they couldn't really figure it all out. My husband and I have decided to put our heads in the sand. Maybe not wise, but we won't know 'til the end. Best wishes as you try to figure this out... JudyS
  12. JudyS

    The Fall Of Trust In America

    Yep, the crash of 2008 and the bailouts have changed everything. I like to think that investing in index portfolio is the strategy to take the risk that you need for growth while simultaneously, you bypass the managers, Wall Street, big banks and brokerage firms. Last I heard both TIAA CREF and Vanguard have not had any bailout dollars cause they make money the old fashion way, they earn it the slow methodical way of average market returns over decades, NOT the high flying hedge funds and short term speculatory "beat the market" active managing crap. I also like the think that the trading has slowed down because so many of us are in index funds and by definition we hardly trade at all. YES! Steve Tony and Steve -- I believe that the no-load fund families are a different breed of cat. I can't recall any of them receiving bailout $$, being the subject of investigative reporting, or being held up for examination. None have been involved in high profile tell-all books like Lehmann Bros, Citi, Morgan Stanley and the rest of the criminal element. They run on a different ethical code,it seems to me. But if I am mistaken, please tell me so... wou;nd't want to be hanging onto an erroneous idea...........JudyS
  13. JudyS

    Long Term Care Insurance Question

    Tony -- Long time no see! My mother had Genworth LTC insurance, and as in so many cases, the insurance paid out FAR less than she paid in. They were difficult to work with, to say the least, and in the end they had to pay us an extra percentage because they took so long to pay the claim; this is the law in Maine. ANyway, when you send stuff in for the claim, you send it to North (or is it South?) Carolina, it gets scanned into their computers (if the staff gets around to it) and then the people y ou talk to, who make decisions, are in CA. They have no access to the original data or a paper file, and that can (and did) make a mess of it all. After dealing with them again and again and again, I wrote a LOVELY letter to the CEO with some BRILLIANT suggestions about some changes that would make things more efficient and user-friendly. All I got was a call from the sales department. Apparently that's as far as the letter got. Not happy7. Would never again do business with this company. Am I being too vague? JudyS
  14. Fellow travelers: I thought this was an interesting article, and it certainly rings true in our situation with our LIMITED retirement income! http://blogs.forbes.com/edwardsiedle/2010/10/07/401ks-americas-biggest-investment-fraud-was-foreseen-and-preventable/ JudyS
  15. Will Fidelity? TIAA-CREFF? This would be a new program. I do know that the local Edward Jones gyuy is interested!! JudyS
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