I agree with JL Collins that in reality there's only that 1% that are the geniuses like Warren Buffett. However, i don't think it hurts to learn how these geniuses got to their conclusions (the thinking process behind investing). I think the more you learn the more clear it will be for you on what route you will take on investing. I like JL Collins bc his explanation is simple enough to motivate you to DO SOMETHING in terms of investing. His approach is not intimidating. But please don't stop there. I encourage everyone who is curious enough to learn about the geniuses and their ways of critical thinking. You never know what may become of that learning experience. Best of luck to everyone! May you all reach your Financial Goals!
Congratulations for the arrival of your baby Jonathan, we have a 7 month old daughter. I look forward to seeing how you teach your son the FI principles
I like to describe retirement designations (Roth, traditional, 401(k)) as “tax-advantaged/protective jackets” for my index/mutual fund “buckets” of stocks. While a protective jacket seems silly for a bucket, it has helped me build my basic understanding into a more functional understanding and the analogy has held up well along the way. Good luck!
Q: I already have $$ parked at Schwab, would there be any reason not to just buy VTSAX through Schwab to keep things consolidated? Or might the expense be higher? Anyone?
I would just look for the Schwab Total Stock Market Index (SWTSX) for all intensive purposes it's identical to VTSAX and possibly 1 basis point less expensive :)
If your taxable income is low enough that selling stocks doesn't incur any capital gains tax (15% rate), then you can convert from VTI to VTSAX with no costs.
Dave Ramsey is a Kindergarten teacher. He teaches little kiddies how to handle little kiddie money and get out of debt. He does not teach you how to become rich. Having a house paid off free and clear and no credit card debt doesn't mean you can retire because a paid in full house does not provide any INCOME! wisen up dude. Go listen to Del Wambsley or Grant Cardone but most certainly not Dave Ramsey.
Dave Ramsey is great for teaching people how to get out of debt, but Dave is terrible with investing. Once you’re out of debt, switch to JL Collins for investing.
I agree with JL Collins that in reality there's only that 1% that are the geniuses like Warren Buffett. However, i don't think it hurts to learn how these geniuses got to their conclusions (the thinking process behind investing). I think the more you learn the more clear it will be for you on what route you will take on investing. I like JL Collins bc his explanation is simple enough to motivate you to DO SOMETHING in terms of investing. His approach is not intimidating. But please don't stop there. I encourage everyone who is curious enough to learn about the geniuses and their ways of critical thinking. You never know what may become of that learning experience. Best of luck to everyone! May you all reach your Financial Goals!
i like that line of thought
Congratulations for the arrival of your baby Jonathan, we have a 7 month old daughter. I look forward to seeing how you teach your son the FI principles
I like to describe retirement designations (Roth, traditional, 401(k)) as “tax-advantaged/protective jackets” for my index/mutual fund “buckets” of stocks. While a protective jacket seems silly for a bucket, it has helped me build my basic understanding into a more functional understanding and the analogy has held up well along the way. Good luck!
Vanguard has lowered the capital requirement for their funds to $3,000.
Yes, the minimum required to invest at Vanguard has dropped. Please keep in mind that this episode was created in 2017. Thanks for listening!
Oh my word thank you so much for posting this!!! Alyssa's question/situation is exactly what I needed to hear. Because I'm in the same boat as her.
Does these things work from Korea too?
Q: I already have $$ parked at Schwab, would there be any reason not to just buy VTSAX through Schwab to keep things consolidated? Or might the expense be higher? Anyone?
I would just look for the Schwab Total Stock Market Index (SWTSX) for all intensive purposes it's identical to VTSAX and possibly 1 basis point less expensive :)
Captain ZeroF's For all intents AND intensive purposes, it’s known as [an] “eggcorn.” Good call though.
I didn’t understand the 15% Margin thing at the end with taxes :( sounds useful though
If your taxable income is low enough that selling stocks doesn't incur any capital gains tax (15% rate), then you can convert from VTI to VTSAX with no costs.
@@tbeller80 Thanks so much for explaining!!
More thank half of this cast is blah blah blah fluff
JL Collins is cool but I think there is a guy name Dave Ramsey who have helpded millions of people financially...
Dave Ramsey is a Kindergarten teacher. He teaches little kiddies how to handle little kiddie money and get out of debt. He does not teach you how to become rich. Having a house paid off free and clear and no credit card debt doesn't mean you can retire because a paid in full house does not provide any INCOME! wisen up dude. Go listen to Del Wambsley or Grant Cardone but most certainly not Dave Ramsey.
Ramsey is a damn salesman. Everything he says and does is for the sole purpose of selling SOMETHING.
DR is great for getting out of debt, and he has helped a lot of people. But, I think his investment philosophy is not as good as others.
Dave Ramsey is great for teaching people how to get out of debt, but Dave is terrible with investing. Once you’re out of debt, switch to JL Collins for investing.