I want you to visit my series on FIRE, Financial Independence, Retire Early, here: Living Your Best Life: FIRE!: Are you familiar with the FIRE movement? You should be, and you will be shortly. And I’m not talking about a fire where, for example, a tree falls in your backyard onto power lines, ripping them down along with a transformer and nearly burning down your house on a quiet afternoon in Newport, RI. “Dad, You’re Stressing Me Out” FIRE! (Part II): Living a lifestyle where you spend 50% less than your “normal” spending doesn’t sound like much fun. But that’s exactly what many … [Read more...]
Why Fidelity is Number One
You don’t build a company such as Fidelity Investments, with more than $2 trillion in assets, overnight. It takes constant focus and improvement, day by day, or kaizen—a Japanese philosophy of daily improvement espoused by former chairman Edward C. “Ned” Johnson III.
When I worked at Fidelity, back in the mid-90s, Mr. Johnson encouraged us, through his memos, to apply the philosophy of kaizen to all aspects of our lives.
Mr. Johnson paid particular attention to kaizen as it related to the firm’s investment in technology. He wanted to make sure Fidelity was second to none.
Read more about why Fidelity is number one below:
UPDATE 12.15.2020: Dick Young explains that with America's debt load soaring, the risk to the dollar today is perhaps greater than ever. Understanding his "Swiss Way" is important for success today. My favorite way to invest in Swiss stocks is through Fidelity’s superior brokerage platform commission free. It’s why I recommend Fidelity for you. It’s why Fidelity is #1. Originally posted on July 30, 2020. The Fed has created a disastrous asset bubble that will extend for years. Read my series on Ron Paul to gain the full flavor for what is transpiring. I devoted a large section of my … [Read more...]
Your November Rage Gauge™ is in, and it’s at a record high, but you don’t need me to tell you that—just look around you. This week you learned Social Security’s cost of living adjustment will average about twenty bucks a month next year. You remember a time when a crisp twenty-dollar bill meant something to you. It meant I had to cut my neighbor’s lawn twice or scoop ice cream for five hours. Today you’re looked at as old-fashioned when presenting one for payment—as if cash is an inconvenience. “Just Venmo me.” What could possibly go wrong with the digitalization of the dollar? What … [Read more...]
Just when you think Vanguard might see the light and get back to its roots, it shows once again why it has become too big and is just like any other money-sucking behemoth--like BlackRock. Vanguard has proven this with the introduction of its own ESG investments program. In my series “You Invest, They Win,” I prove that you are not necessarily front and center, as you most certainly should be when it comes to how your money is invested. This is especially true with the new, hot, investment flavor-of-the-month, ESG. What is an ESG? It’s a marketing tool hoping to get you to feel good about … [Read more...]
It's time to get your emergency documents in order. Laura Adams' piece, published at Fidelity.com, explains five important ways you can protect your family by being prepared. Another way you can help your family prepare is by using FidSafe (see more on FidSafe below). Adams writes: 1. Last will Your last will is a document that communicates your final wishes after your death. Every adult should have a will. Otherwise, the courts decide what happens to your possessions and who will take care of any minor children who survive you. You don’t need a lawyer to create a will, but if you have a … [Read more...]
A valued client was telling me this week about how he’s preparing his family for when he dies. It’s not a pleasant topic, but neither is the prep work. Navigating a subject that guarantees all kinds of emotions takes time and effort. My client is preparing his family with a dry run. They will receive a call, and then will need to navigate as if he’s no longer around. He’s using Fidelity to keep his family’s important documents and finances secure and accessible. One way to organize your documents is by using FidSafe. Fidelity's FidSafe "is the safe, easy, no-cost way to store, organize, … [Read more...]
You can get your house in order with this helpful piece from Fidelity Investments: As the U.S. continues struggling with how to stop the spread of COVID-19, it’s critical to consider whether you have the right emergency documents. No matter if you live in a coronavirus hotspot or don’t know anyone with COVID-19, there’s never been a better time to understand how different legal documents can protect you. Here are five types of emergency documents that will help you and your family make essential healthcare decisions and manage your finances during an unexpected illness or accident. 1. … [Read more...]
You now have yet another reason to consolidate your assets with my favored Fidelity Investments: Fidelity takes protecting your most valuable financial information seriously. Yesterday, it was announced that Fidelity is spinning off software start-up Akoya, a platform that gives customers more control over how their bank-account information is shared. Without a service like Akoya, apps can scrape your account gaining access to information you may wish to keep private. “The platform,” explains Justin Baer in the WSJ, “aims to put an end to ‘screen scraping,’ the process where the app … [Read more...]
You have read about why Fidelity is Number One. Today, I want to point your attention to the massive consolidation happening in the financial services industry, most notably the recent Schwab/TD Ameritrade hook-up. What concerns me is the potential for the customer to be lost in this chaos and whether or not these deals are even worth it. At the end of the day who benefits from more customers? Probably not the customer. This is yet another reason why Fidelity is Number One. It is privately held—guided by a third-generation family member in CEO Abigail Johnson. Forbes just listed … [Read more...]
Yesterday Schwab reported third-quarter earnings. During the three months ending Sep. 30, the e-broker made 70 cents a share up from 64 cents a year earlier while revenue increased $132 million to $2.71 billion. Guess where the money was made? “For Schwab, net interest revenue made up 60% of overall revenue during the September quarter,” reports the WSJ. Do you know what net interest revenue is? It’s when Schwab lends your cash out, keeping the profit for itself. “Schwab and other e-brokers make a significant portion of their profits by sweeping cash daily from customers’ brokerage … [Read more...]