Investors: Do you trust PNC?

[Sled Puller]

Starting to get a reasonable amount of money built up in my retirement fund through the Union.

They claim its invested safely, making about 2%. Well, it may be safe, but I don't see that keeping up with in inflation.



So the way I look at it, since I never touched that money, its like I don't have it, ie nothing to lose.

Time to get aggressive with investing, I have a good 25 years or so, so theres still time.

PNC manges the unions fund, and they are always sending flyers on how they would like to manage your investing, etc. How do you know who to trust in this area?



Comments?

Thanks.

 

[RustyJC]

If they can't do better than 2%, they wouldn't be managing MY portfolio!



Rusty

 

[Sled Puller]

Thats the general fund, we have to make the choice to move our stuff, individually.



If they got aggressive with the general, and lost a bunch, the union officers would get strung up!LOL

 

[RustyJC]

In addition to my 401(k), I have a 100% employer-funded defined contribution pension fund. My current interest rate on this fund is 6. 85%. That would be equivalent to your "general fund", I suspect.



Rusty

 

[RandyHamilton]

Read all about the Fidelity Contra Fund



Will Danoff is one of the smartest and most respected guys in the business and he runs Fidelity Contra. There are others. but Will is conservative and beats the S&P 500 year in and year out...

 

[Swamp Donkey]

2%... ... EEEEEEK! I would not be able to sleep @ night knowing I was only making 2% per year no matter how safe it was. I had my retirement with a company called investors group. I made a couple of percent a year, but they made 10% with my money for themselves. I now self direct my own retirement and am 1000 times happier. I sleep very well now.

 

[Sled Puller]

Well, at least everyone agrees, itstime to move up, lol!

Contras? Reagan?Ollie? :-laf

 

[Hummin Cummins]

Definately time to move up. I have a little more time left than you Gene. If I go to 65, that gives me 30 years. I've been agressive with my 401k ever since it started. Took a hit after 911, but if you ride out the dips in the market, you'll recoup your losses and then some. I "stayed the course" and when the market came back, my portfolio balance doubled. Dont go safe until you get closer to retirement.

 

[Jim Fulmer]

Gene, I don't know how you are on investing but I have been doing that for years now, it's been up and down as I started in 99' when the market was good then went through 9/11 were I lost several thousand dollars on paper but I stood my ground. I did do some trading internally with Janus years ago and things are even better now. In Dec. I traded for the Janus over seas fund and has been climbing fast since then. You do have to keep a little bit of an eye on it so you know what goes on.



Jim

 

[JoshPeters]

I have a guy that works for a company called Scudder Investments. He's been watching my money since before I knew what money really was. (mom put some money away in my name, etc. ) I've since put some money in with him, and since I trust him, I give it to him, say I want to be at a "Medium" risk factor and he gives me some choices. I choose and if something is going to take a dive or climb rapidly he will give me a call. If it's just small stuff I've told him to just go ahead. He has never done me, my family, or friends wrong.



I'd suggest finding someone like that. They can follow the market much better than any of us can, and if you trust them, do very well with your money.



Josh

 

[KBennett]

We have a 401K/Profit Sharing plan at the office that the company invests in for me. They use a guy that taught me a few things about investments. One of them is to set a goal for what $$$ you would like to retire at and at what age. Keep your funds balanced to get you to that goal and don't put all your eggs in one basket. I have my money split among ten different stock and bond funds. Some yield over 10% while others are at about 4% but they are balanced to meet my goal and if there is a big dip in one area it will not affect the average as much.