A colleague friend of mine worked many years at Fidelity HQ, as an accountant. Told me many stories. Has a Fido money manager. Once asked the Fido mm if he should pay off the college loan early to avoid paying the rent on borrowed money. Fido mm told him absolutely not, not to remove any money from his investment account and instead, stop spending and start saving more any way he could. he is two + years away from retirement as are we. . . rented money is not your friend when on Social security and in good physical shape.
LOL! another former fidelity colleague 20 years younger, just got a call from his fido mm within the last two weeks, recommending investments since the market was down.
Also, he told me the highest turnover was just after annual bonus payout. . . hmmm. . .gotta wonder about motivations with people managing other people's money.
In my November meeting with Fido mm stated that Fido didn't see a recession in the near future, true, but risk can increase very quickly, and especially at high valuations after 40 years of declining interest rates, which do have lower limits. .
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