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Personal Finance and Investing - beBee

Personal Finance and Investing

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This hive is for anyone looking to learn or share about personal finance and investing.
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  1. Jared Wiese, 🐝 adding VALUE & RESULTS
    The erosive impact of fees! | Tony Robbins UNSHAKEABLE [Video 5 of 14]
    The erosive impact of fees! | Tony Robbins UNSHAKEABLE [Video 5 of 14] The erosive impact of fees! Do you know how much you are paying? Unshakeable - Your Financial Freedom Playbook To learn more visit:...
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    Jared Wiese, 🐝 adding VALUE & RESULTS
    19/02/2017 #2 Jared Wiese, 🐝 adding VALUE & RESULTS
    Want to lose 10 years of your retirement OR have to work 10 years longer that you want?!
    Just pick a 401(k) / 403(b) plan and funds that total 1% more that what you need to pay.

    For example, a Vanguard S&P 500 index should cost 0.05% (for your large, US, growth allocation) but some plans charge over 0.50%. Seems small but if you have a few like that and any "life funds" that allocate for you, the fees add up easily to over 1% more than you need to be paying.

    Let me know if you'd like more info!
  2. Jared Wiese, 🐝 adding VALUE & RESULTS
    Should you be afraid of the coming crash? | Tony Robbins UNSHAKEABLE [Video 2 of 14]
    Should you be afraid of the coming crash? | Tony Robbins UNSHAKEABLE [Video 2 of 14] Unshakeable - Your Financial Freedom Playbook To learn more visit: http://www.unshakeable.com/ After interviewing fifty of the world’s greatest financial...
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  3. Jared Wiese, 🐝 adding VALUE & RESULTS
    Learn more about and from Tony Robbins
    Tony Robbins | Master Your Mind Habits
    Tony Robbins | Master Your Mind Habits Help Us Reach 20,000 Subscribers: https://goo.gl/x0jbax βœ”Give this video a thumbs up if you enjoyed it. βœ”Share the message if you were inspired! ☯ Watch...
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  4. ProducerCraig Middleton

    Craig Middleton

    14/02/2017
    How To Recover From A Poor Financial Past
    How To Recover From A Poor Financial PastDepending on individual circumstances, a person as young as age 18 can apply for a credit card. In most cases, turning 21 means being able to legally drink alcohol and carry a credit card without proof of income or a co-signor. But how often does...
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  5. Jared Wiese, 🐝 adding VALUE & RESULTS
    Tony Robbins: How to Control Your Mind (Law of Attraction)
    Tony Robbins: How to Control Your Mind (Law of Attraction) Tony Robbins: How to Control Your Mind (Law of Attraction) β€œYour brain is not designed to make you happy – that’s your job.” Some questions I ask: If you...
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  6. Jared Wiese, 🐝 adding VALUE & RESULTS
    Jim rohn - The Key To Financial Success (Jim Rohn Personal Development)
    Jim rohn - The Key To Financial Success (Jim Rohn Personal Development) Jim rohn - The Key To Financial Success (Jim Rohn Personal Development) β–ΊAbout Jim Rohn : Emanuel James Jim Rohn (September 17, 1930 – December 5, 2009) was...
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  7. Jared Wiese, 🐝 adding VALUE & RESULTS
    Newest entrant to Robo Advisors - with a live and low fee twist...
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    Jared Wiese, 🐝 adding VALUE & RESULTS
    Schwab Announces Schwab Intelligent Advisoryβ„’ | Business Wire
    www.businesswire.com Charles Schwab announced plans to expand its suite of wealth management and advisory services with the launch of Schwab Intelligent Advisory, a new...
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  8. Kirk Rhoads

    Kirk Rhoads

    09/12/2016
    Kirk Rhoads
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    Comments

    Preston 🐝 Vander Ven
    10/12/2016 #4 Preston 🐝 Vander Ven
    Some of the wealthiest people I know walk around in jeans and another in always in tank-top because he loves them. Ironically, some of the most high dressed people I have met in my life may have a high income, yet are broke at a higher level.
    Jared Wiese, 🐝 adding VALUE & RESULTS
    09/12/2016 #3 Jared Wiese, 🐝 adding VALUE & RESULTS
    Think I heard "they" - the good 1% ;) - even where the same clothes most of the time. Probably have clean sets, just don't like the distraction of picking.
    Like Einstein not knowing his own SSN.
    Like Walton or Buffett driving old beater cars.

    Reminds me of the Millionaire Next Door. You'd think the rich guys would be spending it. It gets more to how they got rich - not spending it!
    http://www.evancarmichael.com/library/dan-lacy/the-millionaire-next-door-summary.html
    Zacharias Voulgaris 🐝
    09/12/2016 #2 Zacharias Voulgaris 🐝
    Yep. This reminds me of a joke I once heard from a wiity Englishman: the punchline was 'if you have a big penis, you don't need a sports car!'
    Max🐝 J. Carter
    09/12/2016 #1 Max🐝 J. Carter
    That's great.
  9. Jennifer 🐝 Schultz
    Interesting piece - and shows how you never know what some employers motives are.
    Is your employer using your own 401(k) plan to rip you off?
    Jennifer 🐝 Schultz
    Is your employer using your own 401(k) plan to rip you off?
    www.yahoo.com Wells Fargo isn't the only U.S. firm that's profited illegally off its employees. Here's how to check whether your boss is self-dealing at your...
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    Jared Wiese, 🐝 adding VALUE & RESULTS
    05/12/2016 #28 Jared Wiese, 🐝 adding VALUE & RESULTS
    This section was buried in the second half of the article:

    SO WHAT CAN YOU DO IF YOUR EMPLOYER'S 401(K) PLAN STINKS?
    "First, contact your employer and point out the problem(s). Your employer has a fiduciary responsibility to offer a plan that is in your best interest β€” not its own. If it doesn't remedy the situation, not only will it have dissatisfied employees, but could find itself in a lawsuit or in trouble with regulators, who can be very responsive to anonymous employee complaints.

    Second, if your 401(k) plan offers in-service withdrawals (some plans allow this), transfer however much the plan will allow into an IRA, where you'll have full control of your funds.

    Third, see if it makes sense for you to reduce your 401(k) deposits to the level that will provide a full employer match (get that free money), and then direct the remainder of your retirement savings into a Roth IRA (limited to $5,500 if you are under age 50, and $6,500 if age 50 or older).

    Finally, petition your congressman or senator to broaden your retirement savings beyond your employer. The only thing that prevents you from saving in an IRA of your choosing versus being stuck with your employer's options is, I'm sorry to say, our outdated legacy tax laws."
    Jared Wiese, 🐝 adding VALUE & RESULTS
    05/12/2016 #27 Jared Wiese, 🐝 adding VALUE & RESULTS
    No, I don't work for Robbins or AmericasBest401k, or even use them. Yes, I tried with my company, but was told by management that they had already fulfilled their DOL duty and moved to a better plan. Hogwash! At least I tried...

    "Protection Matters:
    The business owner (aka plan sponsor) is liable for their 401k choices! Increasingly, employees are suing employers for not taking the steps to eliminate excessive fees. The DOL is also out in full force in the matter."
    - http://americasbest401k.com/


    "Among the key points that HR plan managers should keep in mind:

    β€’ The employer and any board, management or staff committee involved in decision-making for the plan are already fiduciaries, obligating them to adhere to participants’ best interests when selecting and monitoring plan investments and service providersβ€”and subjecting them to potential liability if they do not.

    β€’ Certain financial advisors, including broker-dealers, insurance agents and mutual-fund firm representatives, generally have not been subject to liability under the fiduciary standard.

    β€’ Under the new rule, nearly all the types of advisors that a plan would rely on to provide investment advice to plan sponsors and plan participants will now be held to the fiduciary standard."
    - https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/fiduciary-rule-plan-sponsors.aspx


    Check out my post for more info on index funds and investing:
    https://www.bebee.com/producer/@jaredwiese/how-to-invest-better-and-safer-than-warren-buffett
    Jared Wiese, 🐝 adding VALUE & RESULTS
    05/12/2016 #26 Jared Wiese, 🐝 adding VALUE & RESULTS
    "funds offered in your 401(k) are selected based on the investment firm’s willingness to kick back some of the fees they make off of you. In short, the funds offered are chosen based on how they benefit the 401(k) provider, not you.

    So how much does the limited selection of funds really affect you? Aren’t all funds basically the same? That would be a resounding 'NO.' Funds vary greatly in both their return and the fees that they charge, so the selection of funds could make the difference between a comfortable retirement and running out of money when you need it most.

    This conflicted advice is costing Americans $17 billion dollars a year, according to a report (pdf) earlier this year from the White House Council of Economic Advisors. You know now how 1% in fees can cost you 10 years of retirement income, so how do you select funds that will return the maximum performance at the lowest cost?

    Warren Buffett gave us all the answer in a letter to his shareholders:
    'Most investors, both institutional and individual, will find that the best way to own common stocks (shares) is through an index fund that charges minimal fees. Those following this path are sure to beat the net results (after the fees and expenses) of the great majority of investment professionals.'

    Essentially, the answer is indexing."
    - https://www.tonyrobbins.com/wealth-lifestyle/ab-401k-funds-matter/

    (more...)
    Jared Wiese, 🐝 adding VALUE & RESULTS
    05/12/2016 #25 Jared Wiese, 🐝 adding VALUE & RESULTS
    My real-life example:

    A Vanguard S&P 500 index fund has an expense between 0.05 and 0.17%, depending on share class. Not too bad, right?! Many funds charge closer to 1% and that does not even include additional "plan expenses", easily bringing what you pay from 1-3% in total fees.

    When I first started looking into my company's plan, they had 4 funds with the S&P 500 as a benchmark. So, for the exact same fund and performance, I was paying from .32% (6x more than 0.05%) to 0.51% (10x more!). After I pointed this out, they agreed to get a Vanguard fund. You guessed it, at the 0.17% - still 3x too much. That was just one example, but with THE fund Warren Buffett says is all you need. (More on that later.)

    The best 401(k) company I've seen is AmericasBest401k. Google it! They act as a fund company AND a fiduciary. That means they are on the hook for their investment advice and can charge rock-bottom fees. Their "all-in" cost is .75%. Like I said above, most companies think they are doing well if they charge their employees 1-3% in fees. "Come on, what's a little 1%", you ask? Well, each 1% in fees takes 10 years off your retirement money!...

    "For 30 years, the 401(k) industry didn’t have to tell anybody how much they were charging! Now that they must disclose, 401(k) providers bury their fees deep within long and difficult to understand documents, effectively keeping their customers in the dark. But what the majority of Americans don’t realize is that an increase in 1% in fees will cost you 10 years in retirement income!"
    - https://www.tonyrobbins.com/wealth-lifestyle/401k-fees-matter-video/

    (more...)
    Jared Wiese, 🐝 adding VALUE & RESULTS
    02/12/2016 #7 Jared Wiese, 🐝 adding VALUE & RESULTS
    An S&P500 index fund should be
    Jared Wiese, 🐝 adding VALUE & RESULTS
    02/12/2016 #6 Jared Wiese, 🐝 adding VALUE & RESULTS
    In short, if your 401(k) does not offer INDEX FUNDS with the lowest fees, you are being ripped off. Your company might not even be aware!
    Jan 🐝 Barbosa
    02/12/2016 #4 Jan 🐝 Barbosa
    Good one !!!
    Jared Wiese, 🐝 adding VALUE & RESULTS
    02/12/2016 #2 Jared Wiese, 🐝 adding VALUE & RESULTS
    This is YOUR RETIREMENT $, folks. So important and so much you can do about it!

    Sharing all over...
    Randy Keho
    02/12/2016 #1 Randy Keho
    401k plans have been a ripoff from the beginning.
    Anything subject to fluctuations in the market is a gamble at best. Ask anybody near retirement age.
  10. Jared Wiese, 🐝 adding VALUE & RESULTS
    How to Get Filthy Rich Quick - 4 Hour Work Week and Rich Dad Poor Dad Money Making Ideas
    How to Get Filthy Rich Quick - 4 Hour Work Week and Rich Dad Poor Dad Money Making Ideas Learning how to get rich in a short amount of time if you’ve ever read The 4 Hour Work Week or Rich Dad Poor Dad. The book, written by Tim Ferriss and...
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  11. Jared Wiese, 🐝 adding VALUE & RESULTS
    Jim Rohn - How to Attain Financial Freedom (Jim Rohn Personal Development)
    Jim Rohn - How to Attain Financial Freedom (Jim Rohn Personal Development) Jim Rohn - How to Attain Financial Freedom (Jim Rohn Personal Development) Learn more detail - Please Click Here to Get Your Free Book:...
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  12. Jared Wiese, 🐝 adding VALUE & RESULTS
    Jim Rohn: The Philosophy of the Rich and the Poor (Jim Rohn Personal Development)
    Jim Rohn: The Philosophy of the Rich and the Poor (Jim Rohn Personal Development) Jim Rohn: The Philosophy of the Rich and the Poor (Jim Rohn Personal Development) Learn more detail - Please Click Here to Get Your Free Book:...
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  13. Jared Wiese, 🐝 adding VALUE & RESULTS
    Robin Powell on LinkedIn shared an update/conversation (www.linkedin.com/hp/update/6190937869566164993):

    "The 0.00% fund fee has finally arrived. How about *negative* fund fees? Why not, says Jason Zweig"...
    Jared Wiese, 🐝 adding VALUE & RESULTS
    The ETF With the 0.00% Fee
    blogs.wsj.com This past week, BlackRock, the world’s largest asset manager, cut management fees on some of its iShares exchange-traded funds to as low as 0.04%. But why stop there? And why stop at...
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    Comments

    Keith Bare
    24/10/2016 #5 Keith Bare
    #4 Generate Capital CEO Jigar Shah is my new #SugarDaddy in Hydrogen giving PLUG loans based on Walmart accounts receivables!!! Walmart has signed for over 100 million in 2017, 18-24 Distribution Centers and over 5000 more Hydrogen Forklifts
    Jared Wiese, 🐝 adding VALUE & RESULTS
    24/10/2016 #4 Jared Wiese, 🐝 adding VALUE & RESULTS
    #3 Well, that speaks volumes! Congrats.
    Keith Bare
    24/10/2016 #3 Keith Bare
    Blackrock own 9.4 million shares of my $PLUG Power, they are the largest shareholder
    Jared Wiese, 🐝 adding VALUE & RESULTS
    10/10/2016 #2 Jared Wiese, 🐝 adding VALUE & RESULTS
    Sharing in investments
    Jared Wiese, 🐝 adding VALUE & RESULTS
    10/10/2016 #1 Jared Wiese, 🐝 adding VALUE & RESULTS
    Sharing in Investing
  14. Jared Wiese, 🐝 adding VALUE & RESULTS
    Robin Powell posted this observation on LI:

    "Jack Bogle may or may not be right when he says we're heading for an era of lower returns. If he is, it'll be all the more important to keep costs low"
    I would agree!

    by Christine Benz at Morningstar.
    Bogle Forecasts Low Stock and Bond Market Returns
    Bogle Forecasts Low Stock and Bond Market Returns Warning of 'much lower market returns' ahead, Vanguard founder Jack Bogle urges investors to seek low-cost investment products. For all Morningstar videos:...
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  15. ProducerJared Wiese, 🐝 adding VALUE & RESULTS
    How to Invest Better and Safer Than Warren Buffett
    How to Invest Better and Safer Than Warren BuffettThis post is both a 10-point critique of the Ultimate Cheat Sheet for Investing post from James Altucher, coupled with better tips I have learned over the years about investing. The gist? Someone who bought an S 500 fund... would have made...
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    Comments

    Ben Pinto
    01/10/2016 #8 Ben Pinto
    I agree Dean about the deep pockets. It is just like people that go to a casino with a gMbling strategy. If they had the money to match the casino and were allowed to bet it - a strategy could help, but if one has bottomless pockets then no need in having bottomless shorts. LOL #6
    Jared Wiese, 🐝 adding VALUE & RESULTS
    28/09/2016 #7 Jared Wiese, 🐝 adding VALUE & RESULTS
    #6 Likewise, I'm no expert, but always curious... Sure, would love to hear about it. Send me a message?
    Dean Owen
    28/09/2016 #6 Dean Owen
    #5 Hi Jared, I am by no means an expert on Warren Buffet, but having casually watched his trades over the last few decades I think there are important lessons to be drawn, like not getting involved in things you don't understand, having a long term horizon etc. He is greedy, not for himself, but for his shareholders. He does have access to information but also makes it a point to meet with the CEOs of the companies he invests in. But I think ordinary investors would have a hard time emulating his trading strategies as they require deep pockets to be able to withstand the potential drawdowns on individual stocks. I watched one of his investments, BYD, drop from 90 down to 20 and he didn't even flinch. Investors can certainly buy BRK-B as an alternative, but I would recommend waiting for the next financial crisis as an entry point to accumulate long term long positions in anything. As for me, I trade markets that have been trending sideways and employ put and call warrants to capture peaks and troughs. The Hang Seng has had a pretty good run up these last few months, so it's time to go long puts I think, as there is usually a correction. I use Fibonacci, Bollinger Bands, RSI and other technical analysis tools to predict retracements, support/resistance etc. I'd love to hear your opinion on a trading strategy I thought of, based on probabilities.
    Jared Wiese, 🐝 adding VALUE & RESULTS
    28/09/2016 #5 Jared Wiese, 🐝 adding VALUE & RESULTS
    Hi @Dean Owen. I cleaned up my article a bit. Thanks for all the great comments and the link to your post!

    Even though he said β€œBe Greedy when others are Fearful” you pointed out that 'personal greed plays no part in what motivates the 86 year old'. When buying oil or anything for that matter, 'no doubt a calculated decision that was derived from a meticulous bottom up analysis of the company at stake.' That seems to be his classic value approach.
    Yet it appears he made that realization the hard way. Odd that he kept buying Conoco when it was already hitting peaks. Perhaps goes to the point that even with all his research, one never knows.

    Per this Forbes article that I read recently, http://www.forbes.com/sites/moneybuilder/2013/05/08/the-worst-investment-of-warren-buffetts-career/#335d54a2227c, he actually feels buying Berkshire Hathaway was his biggest mistake! If he had not, he'd be worth double. It was an ego thing!
    I'd say he learned to stick to his forte of crunching the numbers, finding value and then 'usually' buying low.

    I was also missing a link, http://www.marketwatch.com/story/warren-buffett-to-heirs-put-my-estate-in-index-funds-2014-03-13:

    "you and I aren't Warren Buffett.

    The researchers put it this way:
    Warren Buffett's record by the start of our sample period strongly suggests he is a gifted trader. His success in subsequent years in generating abnormal returns doesn't in itself imply market inefficiency. Rather such returns can be construed as compensation for his extraordinary talent and acquisition of private information.

    Do you have access to the same private information as Warren Buffett? Do you have his level of investing skill? Does your financial adviser?"


    You mention a long put. Are you seeing the Big Short all over again ;)
    Dean Owen
    28/09/2016 #3 Dean Owen
    #2 like I say, everyone thinks they are a genius in a bull market (US) and that strategy has done well. But it would not have done well in the markets I trade (Japan/HK/China) where one needs to be adept in the warrant market (I am currently long puts)
    Jared Wiese, 🐝 adding VALUE & RESULTS
    28/09/2016 #2 Jared Wiese, 🐝 adding VALUE & RESULTS
    #1 Ah, but that's just it: you're always riding on someone's coattails. Better to go passive, low cost indexes, set it and forget it!
    Dean Owen
    28/09/2016 #1 Dean Owen
    There is some great advice here, but as with everything in life, timing and location. Everyone thinks they are a genius in a bull market. For me, Buffet sums it up best with his "Be greedy when others are fearful". His timing is impeccable and he buying spree starting early 2009 a few months after the Lehman collapse was brilliant (although he most likely was talking to Geitner/Paulson quite often back then). I try to ride his coat-tails, but it requires huge gonads to not employ stop losses. Doing well with BYD, a Chinese electric car automaker that Buffet has a heavy stake in.
  16. Jared Wiese, 🐝 adding VALUE & RESULTS
    https://www.bebee.com/producer/@jaredwiese/10-rules-to-invest-your-money-or-1-word-indexes
    Jared Wiese, 🐝 adding VALUE & RESULTS
    10 Rules to Invest Your Money... OR 1 Word: INDEXES
    www.bebee.com One of the best articles I've seen on the rules and mindset of #investing. It comes from Kathleen Elkins on http://www.businessinsider.com In...
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    Jared Wiese, 🐝 adding VALUE & RESULTS
    04/10/2016 #2 Jared Wiese, 🐝 adding VALUE & RESULTS
    You work hard. Shouldn't your money work hard too?

    See my story/honey:
    https://www.bebee.com/producer/@jaredwiese/10-rules-to-invest-your-money-or-1-word-indexes