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Can You Trust a Broker's 401(k) Advice?
Brokers want to give 401(k) investors advice. But are they biased?
 
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Posted 2:43 PM EST July 04, 2009
Posted by: OneDavid
Or you do what I did, and get a bit better at your own investing by practicing stock trading with a $1,000,000 virtual portfolio by going to http://forex-currencyexchange.com and clicking the top left side. All you have to do is give your name and email, then you can start practicing right away.
Posted 8:37 AM EST July 03, 2009
Voicenthewind SmartMoney Insiders
1 Comments
1) At least let them tell us or suggest that we should consider bad choices that drain our 401k, IRA, Roth accounts.
2) Make them tell us in plain straight forward language just where the particular funds are invested.
3) Allow us to see, by comparison, what and how the funds that we did not choose are faring. Maybe we want to upgrade or downgrade.
4) The day traders move the markets at their whim and will daily. The retirees and 401k holders seldom get to adjust to this practice. IMHO,most people in the work force wait for any quarterly reports. Then they find out that what they invested went down the tubes. Along with what they had. True it is possible for the avid still working trader with a 401k, they can try to adjust accordingly. Most do not. Their job mostly precludes them from this practice. The Day Traders job is to just work the system as if it were an asparagus crop. Buy low sell high. And they will tell you that "It's my money, and I'm entitled to use it and ...(Read more of this comment)
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