An executive director at Goldman Sachs leaves the firm where he has “seen five different managing directors refer to their own clients as ‘muppets’.” He paints a picture of a company focused on finding ways to shift clients’ assets into their own pockets.
Retire Happy Blog makes a good point that you have to look at the numbers to make big financial decisions like purchasing an annuity.
Young and Thrifty makes an interesting point that teachers may have difficulty teaching financial literacy to students because their high pay, job security, and guaranteed pensions give them little reason to care about many personal finance issues. There was also discussion of the difficulty of attracting qualified math teachers. Of course, the private sector would solve this problem trivially by offering math teachers more pay than other teachers. I’d love to watch someone suggest this in a teacher union meeting.
Big Cajun Man isn’t too happy with those who say that civil servants get free gold-plated pensions. He’s right that pensions aren’t completely free for civil servants. But they are mostly free and are entirely gold-plated.
Canadian Capitalist updated his Sleepy Mini Portfolio (based on TD e-series funds) with another $1000 this quarter. I would love to see some of my relations follow such a simple and effective strategy.
Canadian Couch Potato posted a spreadsheet for tracking your asset allocation across multiple accounts.
Where Does All My Money Go? has a cool interactive graph that illustrates European government debts.
Larry Swedroe shows that there is no limit to the number of different types of investments that people can dream up. He explains “factoring” and why you should avoid it.