Sell Your Mutual Funds?

Interesting article in MarketWatch that discusses a book entitled: “The Lies About Money: Achieving Financial Security and True Wealth by Avoiding the Lies Others Tell Us, and the Lies We Tell Ourselves.” Basically, part of the book advocates selling all of your mutual funds because the industry is completely corrupt and is only in business to profit off of you.

Ric Edelman, the author, stands behind his statements, noting that “we have sold all our investments in retail mutual funds. All my colleagues at Edelman Financial have done likewise and our clients are following our advice. You need to sell all your retail mutual funds too.” Food for thought, that’s for sure.

So, you’ve sold all your mutual funds, now what?  Well, you have to buy the book to find out.  The author of the MarketWatch article, however, advocates that a portfolio with some no-loan index funds are still appropriate and a good investment.