I have a friend who retired after over 40 years at the same company. When he retired, he had over 400k pension that he took in a lump sum. He asked what I thought he should do with it, I said he should put it into mutual funds and suggested two of the top fund companies. Instead, he listened to his wife, who had worked as bookkeeper, and went with an investment company, who charge every time they move your money, and they move it a lot. End result, after the 2008 debacle, he had lost 75% of his fund and two years later he had enough to pay off his truck. Shortly thereafter, his wife divorced him, taking half of his ANG military pension. He is mid 70’s and still working 35+ hours per week at a grocery. A crying shame.
Means you just lost your shirt, but you still get to pay the brokerage fees, the transaction fees, the account management fees… cha-ching, cha-ching… The house always wins.
C almost 2 years ago
A step up from B of A
The Reader Premium Member almost 2 years ago
What does three lemons mean again?
bluegrassfan almost 2 years ago
I have a friend who retired after over 40 years at the same company. When he retired, he had over 400k pension that he took in a lump sum. He asked what I thought he should do with it, I said he should put it into mutual funds and suggested two of the top fund companies. Instead, he listened to his wife, who had worked as bookkeeper, and went with an investment company, who charge every time they move your money, and they move it a lot. End result, after the 2008 debacle, he had lost 75% of his fund and two years later he had enough to pay off his truck. Shortly thereafter, his wife divorced him, taking half of his ANG military pension. He is mid 70’s and still working 35+ hours per week at a grocery. A crying shame.
tee929 almost 2 years ago
Where are the fortune tellers and the Ouija boards?
megiggles almost 2 years ago
Means you just lost your shirt, but you still get to pay the brokerage fees, the transaction fees, the account management fees… cha-ching, cha-ching… The house always wins.
gopher gofer almost 2 years ago
instead of hiring a broker, just take your money out of your wallet and set it on fire…