The January 3, 2016 New York Times carried an article titled, “A Smarter Plan to Make Retirement Savings Last.” Pardon my skepticism, but I was taken aback by this statement from the article: “Instead, low-fee diversified retirement portfolios would be created by a board of professionals who would be fiduciaries appointed by the president and Congress and held accountable to investors. The fees and investments would be much less prone to corruption because the managers’ income would not depend on the investments, the fees would be disclosed, and the accounts separated from government funds and owned by the individuals.”
I think the government should get the health insurance system fixed BEFORE embarking upon yet another complex initiative with consequences nearly as grave as that for health care.
All comments and questions are welcomed.
Bob Bilkie, CFA®