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Talking Real Money - Investing Talk

401 Fiduciary Failure?

Talking Real Money - Investing Talk

Don McDonald

Business, Investing, Education, How To

4.5811 Ratings

🗓️ 30 August 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

United Healthcare has been using expensive funds in their 401k plan. Should they have looked for cheaper products? Looks like a court will decide. Then we take lots of listener questions: Is Vanguard getting out of mutual fund business? How do ETFs work and why use them? What might happen to a company when all shares are held internally? Will savings rates ever get reasonable again? How do Treasury Bills work? Must IRA accounts have beneficiaries named? Learn more about your ad choice...

Transcript

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0:00.0

reality radio for a really great future we're talking real money oh are we still doing this okay

0:13.8

yeah we're still on this hour so be mine i better i better than i better give the i'm gonna start

0:19.0

with the phone number this time. Yeah.

0:20.9

Not that it did any good to repeat it about 300 times last hour.

0:24.4

Well, then do it 305 times.

0:26.6

Let's go.

0:27.7

Wow, pretty bossy.

0:30.8

855-935 talk.

0:33.0

That's our phone number, 855-935-825-8-25-8-25.

0:41.1

Wow, this just doesn't make any sense. We're going to talk about something and I'm doing some research and it doesn't make sense. We're here to talk about

0:46.1

money. Money matters because money matters. It matters a lot. You need it to live. You need it to

0:52.5

enjoy life. You need it to move forward, you need it for security

0:57.7

in the future, and you need somebody on whom you can at least somewhat depend for an honest

1:06.0

answer.

1:07.5

I could give you one company that you can't.

1:10.7

Actually, I should thank this company. No, we should because they've given us so much fodder over the last 10 years. Oh, no kidding. Really? Seriously, if you think about it. And they were, and they were such a great company when they were just driving the wagons. When they were driving wagons around, everybody loved their wagons. I mean, they even had a song about the wagons.

1:28.3

And now they're circling the wagons.

1:30.1

You know, that their wagons were coming down the street and please let it be for me.

1:35.5

And they're from my old hometown, too.

1:38.3

By the way, I start in a community theater version of that.

1:43.5

But I was not the music man. Paint your wagons? I was not the music man. Oh, the music man. I was not the music man. I was the guy, the anvil salesman. I can't even remember. Paul Merriman was the music man. He was? Mm-hmm. In the music man? I believe so. You mean Paul has a better credit than I do in community theater? I don't even burst your bubble this far, but yeah. You know, he's above us on it, basically everything, so get over it. What are we talking about here? Goodness, he's older, too. It's good point. He's way above us there. We're talking about it. It's an interesting story. So Wells Fargo, oh, of course he is. The phone will light up here. I hadn't even thought. What other big role did you do, Paul? He's not allowed to discuss it for obvious reasons. Wells Fargo. Wells Fargo. Thank you, Wells Fargo for always giving us stuff to talk about. Well, Wells Fargo. Well's Fargo. Thank you, Wells Fargo, for always giving us stuff to talk about.

2:35.9

Well, Wells Fargo, kindly, I guess, or not, they run the 401K plan for United Health. Now, I know about United Health because I think that's our health provider, right?

...

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