investment Management

When preparing for retirement, or already retired, it's important to use an excellent investment manager. We've gone through a few since we retired and cashed out of the employer plan. Below you can see a scan of our quarterly statement from a company we are no longer using. We switched investment managers in July 2008 and this statement was delivered in July 2021. For thirteen years we've been receiving a statement showing the same twenty-six-cents value. Fifty-two statements costing fifty-six cents to mail alone is silly, doing it for 13 years is absurd. Obviously, this company doesn't run any kind of check for insufficiently funded accounts. This small expense isn't significant, the lack of processes is, in my opinion. I believe any good investment manager should be aware of the money they handle down to the penny.

When the stock market crashed on Sept. 29, 2008, most investors lost somewhere around 40% of their assets. This wasn't the case with us since this investment management company was taking an extremely long time moving our investments to cash before transferring it to the new company. As a result, our investments were all in a cash fund when the market crashed.

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