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Hal M. Bundrick
Lives in Shreveport, LA
50 followers|2,927 views
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Business and personal finance writer. Certified Financial Planner".
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Writer, Certified Financial Planner", Entrepreneur
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Shreveport, LA
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5 questions you've always wanted to ask your financial advisor -- answered. http://bit.ly/QlTUZY
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High fees in your 401(k)? They might be even worse in your IRA. My latest article on 401(k)s.
http://bit.ly/1iAXl62
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Man achieves perfect credit score, issues press release.
shar.es/BB5rs
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Some members of Congress are so "underpaid" they're sleeping in their offices. Seriously.
http://shar.es/BBKBa 
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NCAA Payday: Harrison's Clinch Shot for Kentucky Worth $2 Million - http://shar.es/BiQAL
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Where to find real estate rental returns of 20-30%
http://shar.es/BiUW1 
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Have him in circles
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Hal M. Bundrick

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The Obamas paid a 20% effective tax rate, bet yours is higher.
http://shar.es/TqXkl 
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Why investor education doesn't work and how to change that. http://bit.ly/1em1CsJ  @USNewsMoney via @NerdWallet
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Hal,
Read your article today.  To a large extent, I agree.  As an independent fiduciary to retirement plans, I think there are some additional things going on. 

First, the vast majority of the people in the 401k business are conflicted in some way.  The average person has a healthy skepticism of people in the business, hence they are apt to tune them out.  While there are more people in the business today that work for a fee only, and do not have any conflicts of interest, we are still the smallest minority of the service providers.  We tell every participant in a plan how we are paid and what we are paid.  Once they understand we don't have any conflicts of interest, they begin to listen. 

Second, in my opinion, education is not failing due bad technique or messaging, rather it is somewhat worthless.  What people need is advice.   Going back to my first point, people are skeptical of most "advice" because it is a sales pitch.  In a conflict free environment, the average person will take advice and have us "do it for them."  

The way we look at it, advice is first.   After they accept advice and have us "do it for them" is when the education begins, e.g. the importance of patience, the importance of increasing deferrals, establishing targets for deferrals, etc. 

Just the two cents of someone who does this every day.  Again, great article!  Tim Wood
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3 keys to buying a vacation home.
http://shar.es/BiUn2 
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