luke warm Posted September 26, 2008 Report Share Posted September 26, 2008 i have absolutely no idea whether it's better to do something or do nothing... like ken, i owe nobody and nobody owes me... as i've said countless times, we all choose the authorities we listen to and most of those seem to say that if we do nothing we are doomed... i'll stock up on soap, toilet paper, and cigarettes just in case Quote Link to comment Share on other sites More sharing options...
kenberg Posted September 26, 2008 Author Report Share Posted September 26, 2008 Lol I have a CFA Charter and we are not accountants... :P Chartered Financial Analyst.I work for TIAA-CREF lol. We have a weird and complicated ownership structure....I bet 99% of the people working there do not understand it. :) Andrew Carnegie started the company....nonprofit and not for profit is not quite the same thing but it is complicated.ah ha, some light is breaking through. A relatively small part of my retirement is tied up in TIAA_CREF, but a rgeat deal of my wife's retirement is there. She officially retires this coming June although she has no duties this year (terminal leave they call it, boondoggle is another term). Anyway we have been to two TIAA-CREF meetings where they explain things. We will be going to a third. I'm not quite sure if it's a relief to hear that the folks who work there don't understand it either. All in all, TIAA-CREF seems to be a good deal. But then some folks said the same thing about adjustable rate mortgages. I didn't. Quote Link to comment Share on other sites More sharing options...
mike777 Posted September 27, 2008 Report Share Posted September 27, 2008 Lol I have a CFA Charter and we are not accountants... :) Chartered Financial Analyst.I work for TIAA-CREF lol. We have a weird and complicated ownership structure....I bet 99% of the people working there do not understand it. :) Andrew Carnegie started the company....nonprofit and not for profit is not quite the same thing but it is complicated.ah ha, some light is breaking through. A relatively small part of my retirement is tied up in TIAA_CREF, but a rgeat deal of my wife's retirement is there. She officially retires this coming June although she has no duties this year (terminal leave they call it, boondoggle is another term). Anyway we have been to two TIAA-CREF meetings where they explain things. We will be going to a third. I'm not quite sure if it's a relief to hear that the folks who work there don't understand it either. All in all, TIAA-CREF seems to be a good deal. But then some folks said the same thing about adjustable rate mortgages. I didn't. granted you choose variable rate you get a variable rate. But we do have a super tight fixed rate. Super complicated..but super tight. In fairness it is a pretty fair fixed rate....granted we made it complicated to make it fair at the loss our fixed rate in the short term is not so hot. We do segreated tranches.....confusing. Quote Link to comment Share on other sites More sharing options...
kenberg Posted September 27, 2008 Author Report Share Posted September 27, 2008 Lol I have a CFA Charter and we are not accountants... <_< Chartered Financial Analyst.I work for TIAA-CREF lol. We have a weird and complicated ownership structure....I bet 99% of the people working there do not understand it. :) Andrew Carnegie started the company....nonprofit and not for profit is not quite the same thing but it is complicated.ah ha, some light is breaking through. A relatively small part of my retirement is tied up in TIAA_CREF, but a rgeat deal of my wife's retirement is there. She officially retires this coming June although she has no duties this year (terminal leave they call it, boondoggle is another term). Anyway we have been to two TIAA-CREF meetings where they explain things. We will be going to a third. I'm not quite sure if it's a relief to hear that the folks who work there don't understand it either. All in all, TIAA-CREF seems to be a good deal. But then some folks said the same thing about adjustable rate mortgages. I didn't. granted you choose variable rate you get a variable rate. But we do have a super tight fixed rate. Super complicated..but super tight. In fairness it is a pretty fair fixed rate....granted we made it complicated to make it fair at the loss our fixed rate in the short term is not so hot. We do segreated tranches.....confusing. Reminds me of a Harry Belafonte song of long ago: It was clear as mud, but it covered the ground/ and the confusion made my brain go 'round/ so I went and asked a good friend of mine/ known to the world as Albert Einstein But anyway, the general forum public is not apt to want the details of my famiy's various options and our thoughts on them so I'll drop this side topic. One thing that is clear about TIAA-CREF and similar enities: If they go broke, it won't matter what it is that they promised to do. If they don't have the money, they cannot do it. This seems to me close to what is at stake in the current financial mess. If I need to pony up some tax dollars as a hedge against this disaster, I'm up for it. I would like to see some asses kicked though. Quote Link to comment Share on other sites More sharing options...
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