Whats everyones take on this? This is a pretty big ruiling. What you are going to see now with 401k plans, companies that administer them will have the longest ass disclaimers in history. Or they will be very reluctant about which companies they deal with. Much more due dilligence will be done on behalf of companies like Merril Lynch. http://news.yahoo.com/s/ap/20080220/ap_on_go_su_co/scotus_pension
I lost $16K in January and my funds are about as conservative as you can get with excellent long term successes. Just gotta hang on and hope Hillary loses.
I pulled my 401 two years ago and funded a successful production and distribution center utilized for selling crack to school children. :hihi: I KID!
Hey, if the guy ordered a fund switch and the administrators failed to execute it, then they could be at fault and liable. Breach of fiduciary duties.
As long as you don't cash your investment in, the loses are only paper loses. Over the long haul, the stock market is a good investment, but you can't get jittery and pull out at the first sign of trouble.
For young investors, this makes absolute sense. What about those that are reaching retirement age, though? That's the purpose of moving them into more conservative investments, you don't want to risk a big drop right before you have to start drawing out of it. When your agent doesn't make the switch that you request, you get pretty screwed.
