101–105 of 105 posts
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They order from Applebee's secret menu, which is centered around obscure cuts of locally raised meats that are prepared slowly using sous-vide and finished with pan-searing.
True facts: all Chipotle pork is cooked sous vide, and (last I checked) in Chicago.
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The salient point is that if there were no fees, then all of that money would be yours. Whether Wall Street and/or its employees actually use the cash to "pay their bills" or invest over that same period to fully realize their portion of the return is irrelevant. For that matter, Wall Street could (and probably would) invest that money elsewhere and may gain an even higher return. But, again, that's not the point. Th…
Yes, we would all be richer if everything was free, financial services included. If Vanguard can provide cheaper options, so be it, but in that case, they shouldn't need fallacious claims feeding on the public's current hatred of the financial industry to sell them.
In any event, there's nothing fallacious about pointing out the impact of those absurdly high fees on retirement savings over time. The money doesn't just evaporate from savings. It is specifically lost to those fees.
It's actually your argument regarding how the money might be used by Wall Street, etc., that is fallacious. It's a red herring.
And, of course they should feed on the public's hatred of the financial industry. People don't hate the financial industry because it consists of evil gnomes who steal their peanut butter while they sleep. They hate the industry because it attempts to financially rape them at every turn. So, that hatred is relevant here.
Good old free market competition.
>but I can tell you right now, there are a lot of days I wish I just accepted whatever return I could get from someone else willing to manage my investments for me and focus on other things.
If you think it's worth it to pay these fees, then so be it, but no need to use fallacious arguments to veil their impact.
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Hmm. Both Google and my fund options page at Vanguard list the Total Stock Market Index as having a 0.17% expense ratio: https://www.google.com/finance?q=MUTF:VTSMX Are we talking about different things?
Yeah, I was talking about VTSAX. VTSMX is a newer product that Vanguard offers. It has a $3000 minimum balance... but a higher expense ratio. If you can afford the $10,000 initial deposit, you should always go VTSAX over VTSMX.
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Yes, we would all be richer if everything was free, financial services included. If Vanguard can provide cheaper options, so be it, but in that case, they shouldn't need fallacious claims feeding on the public's current hatred of the financial industry to sell them.
I'm not sure who's arguing it should be free. Straw man? In any event, there's nothing fallacious about pointing out the impact of those absurdly high fees on retirement savings over time. The money doesn't just evaporate from savings. It is specifically lost to those fees. It's actually your argument regarding how the money might be used by Wall Street, etc., that is fallacious. It's a red herring. And, of course th…
You've yet to really address any of my original statements. I never claimed that paying someone a percentage of your returns as a management fee means you receive less. I fundamentally disagreed with Vanguard insinuating that Wall Street received the equivalent of 2/3s of your potential portfolio value, which indeed is not the case. I don't know what fallacious arguments you are talking about.
Earlier quoted context omitted.
Yeah, I was talking about VTSAX. VTSMX is a newer product that Vanguard offers. It has a $3000 minimum balance... but a higher expense ratio. If you can afford the $10,000 initial deposit, you should always go VTSAX over VTSMX.
Is VTSAX ever available as an option in a 401k plan?
I hear of people in other jobs who do in fact have VTSAX in their 401k plan, but its obviously on a case-by-case basis, and highly depends on your employer's choices.