When you lose it all, you're not moving in!!!

General TSP Discussion.

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Dela444
Posts: 19
Joined: Tue Jun 07, 2016 8:54 am

Re: When you lose it all, you're not moving in!!!

Post by Dela444 »

nodak wrote:Yeah, this kind of stuff really bothers me. Hope no damage was done to her account. A couple things that standout from your post:

He was “arrested for giving financial advice without a license”. People do that all the time without getting in trouble. He must have really crossed a line with somebody (lost their money, misused their info…). From that, I would assume its not all sunshine and roses for everybody that has entrusted him. (on the other hand, it could have been a website issue)

Also, it sounds like you have not seen her account and based on her not knowing what funds she is in, she probable hasn’t looked recently either. So, where is she getting the 16% number from –taking his word for it maybe? And what does “getting 16%” mean? YTD? Last 12 months? Average?

Good luck, hope you can get her to change her password ASAP. Assure her that she can invest on her own, she doesn’t need some coworkers “help”.


16% Last 12 months

I'm beginning to think she's just old and won't listen to us. I'm going to print this thread and show her that even strangers care about her too.

Atbattin
Posts: 34
Joined: Sun Feb 21, 2016 3:47 am

Re: When you lose it all, you're not moving in!!!

Post by Atbattin »

Check on who is the designated beneficiary of her 401k. Hopefully not the guy who who was arrested.

nodak
Posts: 69
Joined: Sun Apr 02, 2017 6:36 pm

Re: When you lose it all, you're not moving in!!!

Post by nodak »

Again, I wish you luck. My MIL made some decisions that were not financially prudent that I tried to talk her out of, even though they benefited me. She wouldn’t listen so I stopped trying, but your issue could cost her entire portfolio.

Also, for those asking how she got 16% - without cherry-picking, just look at the Fidelity target date funds; they are, and should be, in that range. Not suggesting that is what she is in, just saying that 16% is about right for this year’s returns.

nodak
Posts: 69
Joined: Sun Apr 02, 2017 6:36 pm

Re: When you lose it all, you're not moving in!!!

Post by nodak »

Atbattin wrote:Check on who is the designated beneficiary of her 401k. Hopefully not the guy who who was arrested.



Great question!!!!!!!!!!!!!!!!!!!!!!!

User avatar
maui21ice
Posts: 242
Joined: Thu Dec 05, 2013 8:45 pm

Re: When you lose it all, you're not moving in!!!

Post by maui21ice »

I will never give my financial log-in information to anyone, except maybe my wife or my father. They are the only 2 people I would both TRUST would do good by my account or need to use it for any reason if I was in a bind or I needed advice.

Giving all access to an acquaintance... That's insane.

RubberNeck
Posts: 12
Joined: Fri Jun 16, 2017 8:59 am

Re: When you lose it all, you're not moving in!!!

Post by RubberNeck »

Agree 100%.

sprakass
Posts: 67
Joined: Fri Oct 01, 2010 9:48 am

Re: When you lose it all, you're not moving in!!!

Post by sprakass »

Great job mom! now have someone other than your son help you with your money....


User avatar
wwwtractor
Posts: 126
Joined: Sat Apr 11, 2009 9:58 pm

Re: When you lose it all, you're not moving in!!!

Post by wwwtractor »

Fidelity has managed the account for my spouse for years.
They seem to be doing ok as the account is growing.
Retired 2017:C=60%, S=20% and I=20%
Time is the only non-renewable resource.
Knowledge is the only sustainable competitive advantage.
https://share.robinhood.com/cliffow Buy free
https://r.mtf.io/FJvrJ Motif - Make ETFs
https://del.icio.us/wwwtractor/tsp

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Fund Prices2024-03-27

FundPriceDayYTD
G $18.14 0.01% 1.00%
F $19.09 0.26% -0.68%
C $82.11 0.87% 10.42%
S $82.19 1.48% 6.61%
I $42.68 0.56% 6.21%
L2065 $16.38 0.84% 8.36%
L2060 $16.38 0.84% 8.36%
L2055 $16.39 0.84% 8.36%
L2050 $32.73 0.71% 6.94%
L2045 $14.91 0.67% 6.56%
L2040 $54.37 0.63% 6.20%
L2035 $14.34 0.58% 5.77%
L2030 $47.66 0.53% 5.35%
L2025 $13.14 0.31% 3.40%
Linc $25.60 0.24% 2.79%

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