Saturday, February 19, 2005

Ain't We Got Funds?

I knew it was just a matter of time before my 401k's mutual-fund company ended up on the newswires:

LA Times: "Complaint Against American Funds..."

I'm as fascinated by stocks and the market as the next guy, but my view of Wall Street and the financial powerhouses just gets more cynical with each passing day.

— Posted by Michael @ 12:30 AM


I've always respected American Funds. They always seemed to be one of the few mutual fund families on the up and up.

What I don't understand is this stuff has been going on for YEARS. Now, why all the sudden is it considered bad behavior?

That is what is inherently wrong with the commission based model. The standard commission based model is going to go the way of the DoDo Bird.


** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]