What You Allow Is What Will Continue

How do these guys sleep at night?

In addition to pillaging the retirement accounts of public school teachers, Some large insurers prey on churches and charities.

This is from Ron Lieber of The New York Times:

He also reviewed the 403(b) plans of the nonprofits that had them. People who worked there were not sure how they had ended up with their incumbent providers, some of whom had sold them high-cost annuities. But he was pretty sure he knew why the insurance companies were interested in their business in the first place.

“They’re only selling to the nonprofits to get to the board members and get their money,” he said. “The salesmen use the retirement plans as a prospecting tool.”

We are meeting with teachers on a daily basis. They have ten friends and their friends have ten friends. The awesome power of compounding will bring down an entire industry.

This cannot happen soon enough.

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Please see disclosures here.

What's been said:

Discussions found on the web