Last Week Tonight with John Oliver
*Note: Some might find the content and language used on Last Week Tonight as offensive and/or profane and might not be suitable for children. Viewer discretion is advised.
Recently John Oliver on Last Week Tonight dove into the topic of Retirement Planning. If you have never watched Last Week Tonight, be prepared for a “different” style of news reporting.
When I talk to clients and friends I use a much different and less abrasive tact, but the points addressed by Oliver are the same. Here are the bullet points:
- 401(k) plans can be riddled with hidden fees.
- Those hidden plan and fund fees have a huge effect on the long term returns of the plan by hurting your compounding interest.
- Actively managed funds generally do not out perform passive, index funds (especially when fund fees are added back into the performance over time).
- Not all financial advisors are fiduciaries.
- Only a fiduciary are legally required to put your interests first! *Safe Harbor Advisors is a legal fiduciary.
For more information and explanations (without the profanity) of John Oliver’s reporting of Retirement Planning, please contact Safe Harbor Advisors. Or read our post on Frontline’s reporting of Retirement Planning. It still is one of the best examples of TV journalism to explain these important issues that could be negatively effecting your current 401(k) plan.