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 Post Posted: Fri Oct 06, 2017 9:51 am 
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Recently, my mother-in-law and I were talking about 401ks. She's 63, still working, has maybe 250k in her fidelity 401k, and says she's getting 16%. I complimented that rate and asked her what funds she was in because my wife has a fidelity 401k and we're interested in decent funds. She told me that she didn't know and that some guy at work does it for her.

Upon further questioning, I find out that this guy no longer works at her employer but has made people a lot of money in their 401ks and that he is a "millionaire". She has given him her log-in information and he makes the new allocations for her. "WHAT!?", I said. I told her that was a very bad idea and asked why can't he just email you the new allocations and you log-in to do it. She says his a good guy and has made people a lot of money. I said he sounds like Bernie Madoff.

At the end of the conversation, She told me he was just arrested for giving financial advice without a license. SMH! I told her giving some guy access to her retirement account was a bad idea. She didn't seem to care. I ended by saying, "When you lose it all, you're not moving in".

THOUGHTS ANYBODY?


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AGG (F Fund)
iShares Lehman Aggregate Bond (AGG)

S&P 500 (C Fund)
S&P 500 INDEX,RTH (^GSPC)

DWCPF (S Fund)
Dow Jones U.S. Completion Total Stock Market Index (^DWCPF)

EFA (I Fund)
iShares MSCI EAFE Index (EFA)