Timothy Geithner wants to increase government regulation of such investment vehicles as derivatives, money market mutual funds and hedge funds. The thinking is that deregulation and opacity in many financial instruments is one of the reasons we’re in the middle of a financial meltdown. Since it was impossible for regulators and evaluators to assess a value for some of these assets, and since transparency was not a priority, the heavy leveraging eventually led to insolvency.

But perhaps it’s time to take a look at all investment vehicles — not just those we think of as complicated. It’s nice to change the way things are done with regard to complex investments that few “regular” folks invest in. But what about an almost equally opaque investment that nearly everyone uses? It may not be intricate, but maybe it’s time to look for better 401k oversight.

401k managers rarely consider what is going into retirement plans

MarketWatch reports something that is somewhat discouraging with regard to company sponsored 401k plans:

Just look at the results of a new survey: Barely half of retirement-plan sponsors even bother to take minutes of the meetings they hold at which they decide the fate of your money. And barely one-quarter ever use an outside party to analyze the fees your are paying for the funds offered — fees that can make a huge difference in how much money you end up with at the end of your career.

Take charge of your 401k retirement plan

Instead of relying solely on your company to take care of your 401k or other retirement plan, do your own homework. Find out whether you can choose the investments that go into your plan (many company plans allow you to determine a large portion of your allocations). Also, review the fees. It might be that you can find a better plan elsewhere. If your company has stopped providing a match (as many companies have), you might look at your options. There are ways to switch to a retirement plan that isn’t company-sponsored if what your workplace offers doesn’t suit you. You can talk to a fee-based financial planner to help you evaluate your options.

The Securities and Exchange Commission warned investors Monday about con-artists using the names of actual SEC employees to trick unwitting victims.

I don’t know about you, but I don’t know the names of any SEC employees, and if someone called me claiming to be from the SEC, I’d probably give them about as much credibility as a Nigerian prince.

But apparently investors in the U.S. and abroad have fallen prey to the tricksters, to the point of providing access to brokerage accounts and sent payment to the imposters.

It’s not just individuals who are at risk. Investment advisers have been contacted by fake SEC officers requesting immediate access to private client files for emergency examinations.

They don’t say specifivally, but it seems the SEC is concerned that the scam involves special offers for investments with better than average return. Kristin J. Kaepplein, Director of the SEC’s Office of

Investor Education and Advocacy warns:

“Investors should be especially wary, in these turbulent times, of any unsolicited investment offer, and should always verify the credentials of the individuals making the offer. If contacted by someone claiming to represent the Securities and Exchange Commission and vouching for investments, it’s a scam. The SEC never endorses or participates in investment offers.”

And like your bank, they don’t send e-mails asking for detailed personal information, or financial information such as PIN numbers. The SEC reminds investors to verify the identity of anyone claiming to represent the SEC. Get their name and ask to call them back. You can verify the information with SEC’s personnel locator at 202-551-6000. You can also report suspicious contacts to the SEC by calling 800-732-0330 or e-mailing: help@sec.gov.

Image Credit: Menage a Moi, Flickr

Where can you get a 6% return on your cash? Probably not in a CD or a high-yield online savings account. Increasingly, the answer to going beyond mere capital preservation is to look local. Some regional and local banks and credit unions offer so-called rewards checking accounts that offer returns of between 3% and 6%. In this economy, where the big guys are offering cash yields of something closer to 2% for “high-yield” savings accounts, that’s nothing to sneeze at.

Of course, many of these rewards checking accounts limit your total yearly yield, and you will have to maintain a minimum balance. There might also be additional requirements about how you can receive your statements and how you make your deposits. Watch out for check-writing limits as well, and be aware of fees.

When choosing a rewards checking account, make sure you understand what is required, and make sure the bank or credit union is properly insured.

image source: sxc.hu

Studies show that more Americans are stressed out about losing money in the stock market and other investments than losing their jobs.

More than 75% of those surveyed worries about losing money on investments; 73% worried about not saving enough for retirement and 50% were worried about losing their jobs.

What are you worried about?

(Source: Financial Industry Regulatory Authority)