The 401(k) industry simply is not "getting it done" for America's workforce; the results just are not there. At the heart of the issue is a profit-oriented, non-fiduciary business model that creats unnecessary and costly services, sells them to plan sponsors as "valuable," charges additional and often hidden fees, and then fails to assume any responsibility for the poor investment performance that follow. Consider the following statement from John Bogle, founder of the Vanguard Investment Group, on PBS Frontline:
"The financial system puts up zero percent of the capital and takes zero percent of the risk and gets almost 80 percent of the return, and you, the investor in this long time period, an investment lifetime, put up 100 percent of the capital, take 100 percent of the risk, and get only a little bit over 20 percent of the return. That is a financial system that is failing investors because of those cost of financial advice and brokerage, some hidden, some out in plain sight that investors face today. So the system has to be fixed."
The 401(k) Recovery Program(c)
No Administrative Cost
No Investment Cost
No Charges---Ever!
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