Money Minute: Do you know who's in charge of your retirement?
PITTSBURGH (KDKA) — Do you know who's in charge of your retirement?
KDKA-TV money editor Jon Delano explains why you should in this week's Money Minute.
With IRAs and 401(k)s key to retirement, a majority of Americans are now shareholders. So it should be important to you who runs the companies in which you invest your money.
When was the last time you checked out the qualifications of the management of these organizations, especially the CEOs? Here are some questions you might ask:
- Is the CEO making more money than they should, particularly if the company's stock is going downhill?
- Does the CEO have a stake in the company? Do they own shares, not just stock options, so they win and lose just like the shareholders do?
- Does the CEO travel too much, using company resources to go places that have no relation to the company's business?
- How old is the CEO? Younger and ambitious, older and experienced, or tired and ready to retire?
- Finally, use your gut. If the CEO acts like a jerk, they probably are.
