the broker is clueless on how to get you out except possibly to try an exit commission and then put into another load fund to collect a commission. if you read my post carefully you will realize that you should never given that kind of advice.
Actually, anyone who owned the index for years and held is doing quite well. That's something some of you don't seem to understand. If markets correct now, they are still WAY ahead. Of course, seniors that need the money shouldn't be in because its those with short term needs that can't weather short term moves. Getting in now implies you are talking about someone who missed a huge bull move; I really don't think there are many buy and hold people getting in now ( some might be contributing monthly but their average investment is over many years ).
Volume/volatility have been great most of the time from 1997 to 2000. When we reached the top in 2000, volume was high,volatility even higher. On the other hand, volume/volatility have been low most of the time from 2003 to 2007 and from 2010 till now. I believe volume/volatility are constantly low on fake moves.
Japan index buyers in december 1989 have now 1/3 of their initial value; Nasdaq index buyers in 2000 have a good cut too, and also 2000 buyers of many other indexes (Italy for example is less than 1/3). DAX, Dow and S&P index buyers in 2000 have a very small gain in 13 years. In my opinion something has changed in the new millennium.
I manage some opm for friends and family the younger ones showed up after they thought their 401k was wiped out the older ones have been fully invested I try to get anybody over the age of 50 to 50/50 bonds and stocks but even myself, sometimes things happen and you end up with too much cash, nowhere to go but stocks, buy a little each day, hope for a pullback or decent correction, but be very vigilant, because there will come a time when it is better to be in 100% in cash. But that time is not now.
they don't "give" me money, and I don't charge them a management fee. It wouldn't make much sense because I put them in low cost index funds, so what kind if sense would it be to pay somebody to put you in an index fund? Before I had my last nervous breakdown, everybody was set up so they had enough income from their bond funds, and the rest were in low cost stock index funds (with a few exceptions) then I just chilled out and didn't even check the market for 5 years only one lady called me and was worried I asked her, "Do you still have enough income?" She said, "Yes" I said, "Then don't worry about it" I myself might have been a little worried if I knew how far it went down in 2009
"Who exactly is buying?" The shorts. Refer to TSLA for example. http://finance.yahoo.com/q/ks?s=TSLA+Key+Statistics
when they reach a certain age, you are no longer managing it for them, because they are set for life, but for your cousins who will eventually inherit it. I try to set them up so they don't have to make quick decisions.