Saturday, January 18, 2003
Save for Retirement and Get Wisdom, or maybe not. In a pilot program offered by AIG, the financial services giant, employees can delegate management of their 401(k)'s to the professionals who run their retirement accounts. I can't think of anything that scares me more than the concept of financial analysts and brokers getting direct access to multitudes of peoples monthly retirement funds.  I have a vision of people with unrealistic expectations of what to do to save for retirement, who have no desire to pay attention to the process, turning their money over to "professionals" who have historically underperformed the major indices. [New York Times: Business]
10:45:53 PM  #