Quote:
Originally Posted by Babubhat
A Stablecoin crashed yet they want to let you put crypto in retirement accounts. Brilliant
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People can get into a lot of trouble in their retirement accounts. That’s what I was using (403(b) to buy dot-com funds in the 1990s. I have written about that fiasco before. I did not invest everything in dot-com, but when that bubble popped, it hurt, not only my balance, but my ego. It was all my fault. And that is how it should be. Lesson learned.
While individual choice in investing is one thing, the investing done at the state level, with money being paid into pension funds, etc., should be completely transparent. I also think that type of state-level investing should have parameters………
Those who manage public pension funds should be under a microscope. There are problems in several states now.
Other People’s Money in the hands of high risk takers does not bode well. Also, there are high commissions being paid out of OPM. In the case of state pension funds, people pay in and hope for the best. Some states are letting the wolves guard the sheep.
It happens with other public funds, too. Ohio about 20 years ago, had “Coingate” with the workers’ comp fund.
Anyway, state retirement funds need guardrails. Some of them have been known to do stupid, lazy, high risk, or shady things with Other People’s Money.
Boomer