Wall Street for Dummies
There are a 140 Americans who have $26 trillion (that’s trillion with a T) invested in self-directed retirement accounts. These dollars are unevenly spread between active 401(k) plan and self-directed IRAs. Just thinking about these dollars market has the mavens of Wall Street salivating, because they see this as their golden ticket to a lavish lifestyle. Last year alone, Wall Street took in $250 billion for their participation in the management of these accounts.
The mission of my podcast is to answer the question; “Is the juice worth the squeeze? While the group in total paid $250 billion dollars in fees, some paid significant fees, while others paid next to nothing, and yet experienced better than average returns.
This begs the question; Which group would you prefer to belong to???
I borrowed the title of my educational program, Wall Street for Dummies, from the successful series of books that takes technical topics and presents them in a fashion that the non-professional can master on their own. On the surface, the title may sound like a put down to my followers, but it is intended to be a single digit salute to the Wall Street professionals indicating that they are not as elite as they claim to be.
Wall Street for Dummies
Season 1, Episode 14 What's in a Name?
What's in a name? I have chosen this iconic line from Shakespeare's Romeo and Juliet to impress you with a fact that I am a learned, erudite professional and not just some off the street strapping hanger, bloviating about the market. This episode of my incredibly insightful podcast is directed at the 90 million Americans who have their life savings invested in a 401(k) plan. Their only investment options are mutual funds and the mavens of Wall Street are trying to convince them that their expensive index fund knock offs are the real thing. But, calling an ordinary pigeon a majestic bald eagle, doesn’t make it one.