var SmartPodcastPlayer_uid_0da27592 = {“errors”:[],”options”:{“color”:”ffffff”,”download”:”true”,”feed_url”:””,”hashtag”:””,”hover_timestamp”:”true”,”html_assets”:”true”,”marquee”:”auto”,”social”:”true”,”social_twitter”:”true”,”social_facebook”:”true”,”social_gplus”:”false”,”social_linkedin”:”true”,”social_stumble”:”false”,”social_pinterest”:”true”,”social_email”:”false”,”speedcontrol”:”true”,”subscribe_in_stp”:”true”,”subscribe_acast”:””,”subscribe_itunes”:”https://www.sidehustlenation.com/itunes”,”subscribe_buzzsprout”:””,”subscribe_googleplay”:””,”subscribe_googlepodcasts”:”https://www.sidehustlenation.com/googlepodcasts”,”subscribe_iheartradio”:””,”subscribe_playerfm”:””,”subscribe_pocketcasts”:””,”subscribe_soundcloud”:””,”subscribe_spotify”:”https://open.spotify.com/show/6eRgjm2Wo07RSe0UHqb4dL”,”subscribe_spreaker”:””,”subscribe_stitcher”:”https://www.sidehustlenation.com/stitcher”,”subscribe_tunein”:””,”subscribe_overcast”:””,”subscribe_rss”:”https://www.sidehustlenation.com/feed/podcast/”,”permalink”:””,”position”:”bottom”,”show_numbering”:””,”start”:””,”style”:”dark”,”sticky”:”false”,”tweet_text”:””,”twitter_username”:””,”uid”:”0da27592″,”url”:”/pdst.fm/e/s.gum.fm/s-60513550101ec9001e50e5fa/pscrb.fm/rss/p/pdrl.fm/2b1f11/cohst.app/pdcst/7C5L4R/mgln.ai/e/697/″,”view”:”responsive”,”volume”:”true”,”email_portal”:”enable”,”email_outer_button_text”:”Send me more money-making ideas”,”email_button_bg_color”:”#ffffff”,”email_button_text_color”:”#77933c”,”email_ck_html”:””,”email_cta_image_url”:””,”email_cta_text_large”:”Sign up to receive email updates”,”email_cta_text_small”:”Enter your name and email address below and I’ll send you periodic updates about the podcast.”,”email_cta_request_first_name”:”false”,”email_cta_require_first_name”:”false”,”email_cta_request_last_name”:”false”,”email_cta_require_last_name”:”false”,”email_cta_button_text”:”Subscribe”,”email_cta_open”:”manual”,”email_cta_elapsed_seconds”:”60″,”email_cta_remaining_seconds”:”60″,”email_use_spp_cta”:false,”email_ck_form_id”:””,”email_mc_list_id”:””,”email_mc_html”:””,”email_embed_html”:”rn Want the 5 Fastest Ways to Make More Money? Enter your name and email and I’ll send it right over. I’ll also send you my best side hustle tips and weekly-ish newsletter. Opt-out anytime. Submit u200b .formkit-form[data-uid=”9cf88a0118″] *{box-sizing:border-box;}.formkit-form[data-uid=”9cf88a0118″]{-webkit-font-smoothing:antialiased;-moz-osx-font-smoothing:grayscale;}.formkit-form[data-uid=”9cf88a0118″] legend{border:none;font-size:inherit;margin-bottom:10px;padding:0;position:relative;display:table;}.formkit-form[data-uid=”9cf88a0118″] fieldset{border:0;padding:0.01em 0 0 0;margin:0;min-width:0;}.formkit-form[data-uid=”9cf88a0118″] body:not(:-moz-handler-blocked) fieldset{display:table-cell;}.formkit-form[data-uid=”9cf88a0118″] h1,.formkit-form[data-uid=”9cf88a0118″] h2,.formkit-form[data-uid=”9cf88a0118″] […]

Don’t miss an episode of our podcast, Personal Finance for Long-Term Investors. Available on all podcast players. Here’s the latest episode: Reader Doug wrote to me this week: Any thoughts on using one of the ‘Big Three’ as a financial advisor.  Fidelity, Schwab and Vanguard have different programs at different price points (shown below).   For some background…it’s vital to remember that these companies swim in various lanes at the same time. They are custodians – places where you can open and keep accounts. They are fund managers – organizations that offer ETFs, mutual funds, etc. that you can pay to invest in. They also offer advisory services. These organizations can be great custodians and excellent fund managers, yet have different standards for their advisory services. I’ve got some thoughts for you, Doug. There’s a Spectrum I’m biased here. It’s important I disclose that. Though I’d like to think my bias is “pro-client.” Here are some great questions to help you discern between good, bad, and ugly advisors. And definitions about how fees are charged. I’d also recommend this podcast episode too: The broader point is that: Some advisors provide detailed planning. Others don’t. Some advisors sell commissioned products (insurance, annuities, etc) and others are fee-only. Some advisors charge high fees, others low fees. Some advisors intentionally work with 40, 60, 80 clients. Other advisors work with 200+. All else being equal, you’d probably prefer an advisor who provides detailed planning, is fee-only, spends plenty of time with you, and charges reasonable fees. So – is that what the “Big Three” provide? Service Tiers We should be looking at the “dedicated advisor tier” in the table below. The robo-only and hybrid tiers provide very little human expertise. They are essentially “investing-only” services. That’s fine – if that’s what you want. But if you are looking for true financial planning, we want to look at the “Dedicated Advisor” tier. Fees Vanguard is the clear winner here at 0.30%. Fidelity and Schwab charge fees much closer to what small, independent financial planners charge. Fidelity’s fees start very high. Well above 1.0% on the first $1M in a client’s portfolio. Schwab’s fees are more reasonable. Client Service and Planning Client service and in-depth planning are where the rubber meets the road. I’ve had a ~dozen prospective clients (and a handful of actual clients) talk to me after working with one of these Big Three. I also regularly read online communities – both of individual investors (customers of the Big Three) and of other financial advisors (including many who work for the Big Three). The commentary always sounds the same. Advisors at the Big Three are overworked. They have too many clients to serve each client well.

“Fries with dinner but no dessert counts as a win.” Who will build the first era-defining consumer AI company? Even the beloved AI tools we already rely on are only one model release away from obsolescence. The lasting advantage will come from products people emotionally trust, build habits around, and fold into their identities. Tomo extends beyond productivity into the higher-order value of wellbeing, and has the founder and product philosophy to define their category, […]

Every month since 2017, I have written an article that shows the growth of our passive income. Over the last couple of years, I’ve added some of my annual goals (New Year’s Resolutions). This is usually where I add some personal stuff. My wife was on work travel for two weeks, so my time was focused on being able to get the kids to camps, karate, etc. while managing the busiest month of dog boarding […]