VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: David R who wrote (38773)	7/10/2001 3:20:58 PM
From: Jim Willie CB	Read Replies (1) of 65232

my experience on observing pensions... TIAA/CREF for colleges and universities done good for my father he was a professor for 38 yrs now his pension exceeds his final year salary, 14 yrs later add in SocSec's "kitchen money" and he is doing fine no financial worries a friend in Mass has taught in high school for 24 yrs she will apparently be doing quite well, or well enough when she retires, she will pull a state managed pension I might ask her to provide me her outhouse and I can set up residence there, along the upper Mass coastline I am sure she could use a little extra income I have checked in detail the prospectus behind TIAA/CREF they are about 60% cross-section stock, 25% bond, 15% RealEstate they recently announced a reduction in annual pension payments of 16% the stock market hit them they are so diversified as to cover top 2-3 of every industry my wish is that companies would band together and hire professional financial planners offer them 1-1.5% of money managed as a fee and have them make investment decisions with our 401k money you can make all the sneid comments about spending more time choosing a movie than mutual funds and you are probably right but large blocks of time spent in an area lacking professional training still does NOT amount to wise mgmt I would not hire my brother to spend 40 hrs to carefully rebuild my bathroom he dont know sheeeh about carpentry he could spend more time than his movie choice that is not the point many individuals in this country are NOT SUITED to managing their pensions giving them the potential does little to ensure realization of that potential would you like me to carefully design a renewable power system for your home? it has great potential but I have no training I maintain that 401k is a grand failed experiment whose missing dividends will be reaped in 10-15 years respectfully / jim

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