Charles Schwab
I’m thinking of moving my money away from Charles Schwab, due to their support of the Alliance for Worker Retirement Security, which in spite of its Orwellian name is a group that lobbies for Social Security privatization. Can anyone recommend a brokerage firm that has low fees, decent service, and isn’t involved with any such groups?
Matthew Yglesias argues that the withdrawal of the Financial Services Forum from a related lobbying group is "probably the most important Social Security development of the day." Unions have been putting a lot of pressure on these firms — by organizing pickets and letter writing campaigns, but also by threatening to pull their pension accounts.
March 17th, 2005 at 10:08 pm
Elizabeth, why do you oppose private accounts? No plan on the table will kill social security. The plans will only give Americans more options.
As a financially-savvy American, why shouldn’t I have the right to opt-in to a program where part of my SSI goes to a S&P 500 index fund, rather than into the SS bucket?
March 18th, 2005 at 10:27 am
I don’t know where you should take your money – but I support you in doing so.
April 3rd, 2005 at 8:42 pm
I like low cost index funds, like Vanguard. I follow the approach of the Coffee House Investor (see http://www.coffeehouseinvestor.com/spring05.htm). Best of luck.