May 5, 2016
I would like to offer my opinion for your consideration when discussing a more straight forward and honest method of having mutual fund companies disclose in dollars and cents what they are charging customers. I am 79 years of age and was never fortunate enough to work for a company that offered a 401k so everything that I have to live on, except Social Security, came at the expense of my family. Lots of vacations that never happened and special treats unrealized allowed my Wife and I to be able to survive in retirement. She was the consummate home maker and child raiser as I always seemed to need two jobs. Now, with the lower than low interest rates and returns on my bonds and mutual funds, everyone seems to be making money except me. The mutual fund loses money invested and I don't get even a apology BUT they get their share regardless. My best friend seems to be Vanguard as they charge the lowest fees but still I do not know what amount, however low, is actually taken out. I am not a sophisticated investor which is why I use mutual stock funds and mutual bond funds. I try to get a best guess each year by using the math method they offer but it is still a guess. The public would be very well served by a more understandable actual number.