With Hurricane Sandy bearing down on New Jersey in 2012, Gov. Chris Christie memorably took to the airwaves. "Get the hell off the beach!" he scolded the stragglers who did not take the storm threat seriously. 

I feel the same way about brokerage windows within 401(k) plans. 

They are risky, potentially very expensive and appropriate for only a very small fraction of 401(k) investors. Don't offer them in your plan. Period. If a weather professional (think the great Jim Cantore) wants to stand in the middle of a hurricane, that's his business. Everyone else – get off the beach!

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