The weekly market update is posted and includes the following;
ETF fund flows for 2017 topped $500 billion as the space continues the trend of gaining on traditional mutual funds. Despite ETFs’ structural advantages, Eric Balchunas from Bloomberg tweeted his surprise that there is still more than $10 trillion in old school funds. Some portion of that $10 trillion, unfortunately, is 401k participants not engaged with their 401ks. It is not uncommon for people to retire or otherwise leave an employer and leave their 401k behind exactly as is, under the misconception that it is being tended to by the employer. And while this scenario is better than cashing out, paying taxes and possibly a penalty (depending on the the employee’s age) it is far from ideal for the employees. Invariably this is an expensive scenario in terms of fees paid for 401k administration and of course, the account is not being managed.
Please click through to read the entire update.
Please also check out my latest at TheMaven on implementing a defensive strategy.
Prescott Courthouse in downtown Prescott, AZ.