Sunday, February 22, 2009

My retirement account proposal

Did anyone get a phone call from a broker or advisor warning them of this market mess? Have the biggest and brightest on TV and DC told us that the fan was gunked up? No, no, no.

The deleveraging process appears to continue helped out by Geithner imprecision, election year market cycle, and horrible fundamentals. And yet still the message to buy now, hold onto your mutual funds message remains. They are all wrong.

What freedom does the common man have in this? My guess is that most of us have our retirement funds in an employer sponsored plan that limits choices and exchanges. This offers us little choice. In the case of my employer the selections have been chosen by a consulting firm. The only way to solve this is to change or quit current employer and roll funds over to a self directed account, wherein tens of thousands of choices are available. The collective voices all seem to force us to hold, after all it only took 14 years to recover to pre great depression levels, not bad is it?

It is time for a change. I want all employer sponsored plans to offer a brokerage account option. It is my money, let me do with it as I wish.

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