Remembering Jack Bogle
When I started my firm I wanted to do it in a way that provided value for my clients, reduced conflicts of interest and was transparent in the fees I charge. That’s why I structured Honeycomb Financial as a registered investment advisor (RIA) that is held to the fiduciary standard. While there are still issues with the financial services industry as a whole, my belief and hope is that it’s generally shifting towards improving value and reducing costs for consumers. While there are many people who have led this charge over the years, one stands out. Jack Bogle, founder of Vanguard, has arguably done more for individual investors than anyone else in financial services. With his focus on low-cost index funds, the way he structured Vanguard as a company to keep most of the gains in the hands of the clients, his frugal lifestyle and his ethics, he’s been a relentless champion of the everyday investor. Jack Bogle died last month but his impact on the financial world lives on. Here’s an article and a podcast if you’d like to know more about this remarkable man, his philosophy and his ethics.
I’m a happy Costco member. Besides enjoying their selection of food, wine and other items, they have a reputation for paying and treating their employees really well. This is a fun and interesting slide deck that explains some keys to their success.
Dollar Cost Averaging
A conversation I have often with clients is whether to invest a lump sum of money all at once or over time. While you won’t know the right answer to that question until after the fact, this gives a good example of how “dollar cost averaging” can have advantages.