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- 19/12/2016Newest entrant to Robo Advisors - with a live and low fee twist...
™Schwab Announces Schwab Intelligent Advisory™ | Business Wirewww.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...
Comments09/12/2016 #3 Jared 🐝 WieseThink 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!
- 02/12/2016Interesting 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?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...
Comments05/12/2016 #28 Jared 🐝 WieseThis 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 — 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you from saving in an IRA of your choosing versus being stuck with your employer's options is, I'm sorry to say, our outdated legacy tax laws."05/12/2016 #27 Jared 🐝 WieseNo, I don't work for Robbins or AmericasBest401k, or even use them.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...
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."
"Among the key points that HR plan managers should keep in mind:
• 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 providers—and subjecting them to potential liability if they do not.
• Certain financial advisors, including broker-dealers, insurance agents and mutual-fund firm representatives, generally have not been subject to liability under the fiduciary standard.
• 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."
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-buffett05/12/2016 #26 Jared 🐝 Wiese"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."
(more...)05/12/2016 #25 Jared 🐝 WieseMy 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!"
- 27/10/2016How 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...
- 24/10/2016Jim 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:...
- 23/10/2016Jim 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:...
- 10/10/2016Robin 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"...The ETF With the 0.00% Feeblogs.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...
- 04/10/2016Robin 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 Warning of 'much lower market returns' ahead, Vanguard founder Jack Bogle urges investors to seek low-cost investment products. For all Morningstar videos:...
- Producer28/09/2016How 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...
Comments01/10/2016 #8 Ben PintoI 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 #628/09/2016 #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.28/09/2016 #5 Jared 🐝 WieseHi @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 “Be 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 ;)28/09/2016 #4 Dean OwenI did an article on Buffet - https://www.linkedin.com/pulse/buffett-bets-big-oil-dean-owen?trk=mp-reader-card28/09/2016 #1 Dean OwenThere 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.
- 21/09/2016https://www.bebee.com/producer/@jaredwiese/10-rules-to-invest-your-money-or-1-word-indexes10 Rules to Invest Your Money... OR 1 Word: INDEXESwww.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...