- 21/02/2017SELL Trakm8 Holdings(TRAK) by Tom Winnifrith for ShareProphets. Share price -8.24% since placed at StockomendationFind Share tips with Stockomendationgoo.gl View 1000s of share tips from the UK's leading sources all in one place, updated daily with tip performance...
- 17/02/2017Top stock tip of the week: SELL Frontera Resources Corporation (FRR) by Nigel Somerville for ShareProphets. Share price -23.33% since placed at StockomendationFind Share tips with Stockomendationgoo.gl View 1000s of share tips from the UK's leading sources all in one place, updated daily with tip performance...
- 17/02/2017Top stock tip of the day: SELL Brave Bison Group (BBSN) by Steve Moore for ShareProphets. Share price -14.29% since placed StockomendationFind Share tips with Stockomendationgoo.gl View 1000s of share tips from the UK's leading sources all in one place, updated daily with tip performance...
- 17/02/2017Should you be afraid of the coming crash? | Tony Robbins UNSHAKEABLE [Video 2 of 14] Unshakeable - Your Financial Freedom Playbook To learn more visit: http://www.unshakeable.com/ After interviewing fifty of the world’s greatest financial...
- 14/02/2017Top stock tip today: BUY (speculative) Keras Resources (KRS) by Beaufort Securities. Share price +14.58 % since placed at Stockomendation
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- 31/01/2017The Speculative BUY tip today by @BeaufortSec is already up +70.73%. Follow this tip's performance @Stockomendation
- Producer25/01/2017Realistic Ways to Grow Your MoneySavings accounts aren't good ways to grow your money. They are good for saving for large purchases, and having an emergency fund is essential for financial health, but your money isn't going to grow. Here are three realistic ways you can grow your...
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- 19/12/2016Newest entrant to Robo Advisors - with a live and low fee twist...
™Schwab Announces Schwab Intelligent Advisory™ | Business Wirewww.businesswire.com Charles Schwab announced plans to expand its suite of wealth management and advisory services with the launch of Schwab Intelligent Advisory, a new...
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- 12/12/2016Top stock tip of the weekend: BUY Hotel Chocolat Group (HOTC) by Joanne Hart for Daily Mail, Midas. Share price +4.07% since placed at StockomendationMoved Permanentlygoo.gl With just a fortnight until Christmas, thoughts are inevitably turning to food, drink, treats and gifts. Hotel Chocolat covers all four categorie smade at its manufacturing facility in...
- 02/12/2016Interesting piece - and shows how you never know what some employers motives are.
Is your employer using your own 401(k) plan to rip you off?Is your employer using your own 401(k) plan to rip you off?www.yahoo.com Wells Fargo isn't the only U.S. firm that's profited illegally off its employees. Here's how to check whether your boss is self-dealing at your...
Comments05/12/2016 #28 Jared Wiese, 🐝 adding VALUE & RESULTSThis section was buried in the second half of the article:
SO WHAT CAN YOU DO IF YOUR EMPLOYER'S 401(K) PLAN STINKS?
"First, contact your employer and point out the problem(s). Your employer has a fiduciary responsibility to offer a plan that is in your best interest — not its own. If it doesn't remedy the situation, not only will it have dissatisfied employees, but could find itself in a lawsuit or in trouble with regulators, who can be very responsive to anonymous employee complaints.
Second, if your 401(k) plan offers in-service withdrawals (some plans allow this), transfer however much the plan will allow into an IRA, where you'll have full control of your funds.
Third, see if it makes sense for you to reduce your 401(k) deposits to the level that will provide a full employer match (get that free money), and then direct the remainder of your retirement savings into a Roth IRA (limited to $5,500 if you are under age 50, and $6,500 if age 50 or older).
Finally, petition your congressman or senator to broaden your retirement savings beyond your employer. The only thing that prevents you from saving in an IRA of your choosing versus being stuck with your employer's options is, I'm sorry to say, our outdated legacy tax laws."05/12/2016 #27 Jared Wiese, 🐝 adding VALUE & RESULTSNo, I don't work for Robbins or AmericasBest401k, or even use them. Yes, I tried with my company, but was told by management that they had already fulfilled their DOL duty and moved to a better plan. Hogwash! At least I tried...
The business owner (aka plan sponsor) is liable for their 401k choices! Increasingly, employees are suing employers for not taking the steps to eliminate excessive fees. The DOL is also out in full force in the matter."
"Among the key points that HR plan managers should keep in mind:
• The employer and any board, management or staff committee involved in decision-making for the plan are already fiduciaries, obligating them to adhere to participants’ best interests when selecting and monitoring plan investments and service providers—and subjecting them to potential liability if they do not.
• Certain financial advisors, including broker-dealers, insurance agents and mutual-fund firm representatives, generally have not been subject to liability under the fiduciary standard.
• Under the new rule, nearly all the types of advisors that a plan would rely on to provide investment advice to plan sponsors and plan participants will now be held to the fiduciary standard."
Check out my post for more info on index funds and investing:
https://www.bebee.com/producer/@jaredwiese/how-to-invest-better-and-safer-than-warren-buffett05/12/2016 #26 Jared Wiese, 🐝 adding VALUE & RESULTS"funds offered in your 401(k) are selected based on the investment firm’s willingness to kick back some of the fees they make off of you. In short, the funds offered are chosen based on how they benefit the 401(k) provider, not you.
So how much does the limited selection of funds really affect you? Aren’t all funds basically the same? That would be a resounding 'NO.' Funds vary greatly in both their return and the fees that they charge, so the selection of funds could make the difference between a comfortable retirement and running out of money when you need it most.
This conflicted advice is costing Americans $17 billion dollars a year, according to a report (pdf) earlier this year from the White House Council of Economic Advisors. You know now how 1% in fees can cost you 10 years of retirement income, so how do you select funds that will return the maximum performance at the lowest cost?
Warren Buffett gave us all the answer in a letter to his shareholders:
'Most investors, both institutional and individual, will find that the best way to own common stocks (shares) is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after the fees and expenses) of the great majority of investment professionals.'
Essentially, the answer is indexing."
(more...)05/12/2016 #25 Jared Wiese, 🐝 adding VALUE & RESULTSMy real-life example:
A Vanguard S&P 500 index fund has an expense between 0.05 and 0.17%, depending on share class. Not too bad, right?! Many funds charge closer to 1% and that does not even include additional "plan expenses", easily bringing what you pay from 1-3% in total fees.
When I first started looking into my company's plan, they had 4 funds with the S&P 500 as a benchmark. So, for the exact same fund and performance, I was paying from .32% (6x more than 0.05%) to 0.51% (10x more!). After I pointed this out, they agreed to get a Vanguard fund. You guessed it, at the 0.17% - still 3x too much. That was just one example, but with THE fund Warren Buffett says is all you need. (More on that later.)
The best 401(k) company I've seen is AmericasBest401k. Google it! They act as a fund company AND a fiduciary. That means they are on the hook for their investment advice and can charge rock-bottom fees. Their "all-in" cost is .75%. Like I said above, most companies think they are doing well if they charge their employees 1-3% in fees. "Come on, what's a little 1%", you ask? Well, each 1% in fees takes 10 years off your retirement money!...
"For 30 years, the 401(k) industry didn’t have to tell anybody how much they were charging! Now that they must disclose, 401(k) providers bury their fees deep within long and difficult to understand documents, effectively keeping their customers in the dark. But what the majority of Americans don’t realize is that an increase in 1% in fees will cost you 10 years in retirement income!"
- 07/12/2016Stockomendation Hits Major Milestone - now tracking the performance over 20,000 UK stock tips! Over 470 new tips per month & growing fast! www.stockomendation.com
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- 27/10/2016How to Get Filthy Rich Quick - 4 Hour Work Week and Rich Dad Poor Dad Money Making Ideas Learning how to get rich in a short amount of time if you’ve ever read The 4 Hour Work Week or Rich Dad Poor Dad. The book, written by Tim Ferriss and...
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