The following is a guest post by Rob Bennett who created the first retirement calculator that contains an adjustment for the valuation level that applies on the day the retirement begins. His bio is here.
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The short answer to this one is: “No.”
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By the standards that apply in most other fields of life endeavour, the investing advice field is frighteningly corrupt. I worked for several years as a tax lobbyist (hey, we all have a past!). So it takes something special in the department of ethical lapses to shock me. The investing advice field is something truly special in this regard.
But wait! I’m not going to let you walk away from reading this article feeling depressed!
There is reason for hope. Something else I have learned is that most of the people who work in this field very much want to see things change. People in this field want to be able to give good and honest investing advice. And there are things we all can do to make that happen. Things are going to be looking a lot different in the not-too-distant future than they have been looking in the recent past.