Meet Mr. Money Mustache, the man who retired at 30 by Kelly Johnson at The Washington Post
Blogger Pete MMM retired at age 30 but he still has a rental house and a blog. People debate whether he’s really retired. Pete calls doubters the Internet Retirement Police. When I retire if I still keep this blog, will the Internet Retirement Police nab me too?
The 401(k) debate by Steve Utkus at Vanguard Blog
You would think a documentary that shines light on high fees in 401k plans would be fully endorsed and promoted by the low cost leader Vanguard, right? Not exactly. Steve calls it as he sees it. That’s rare.
Are Retirement Accounts Flawed? by Larry Ludwig at Investor Junkie
Another take on the PBS documentary The Retirement Gamble. Larry points out that the attack on 401k fees isn’t aimed at merely lowering those fees. The real agenda is to replace the 401k with a government-run American Retirement Account, guaranteed to return 3% above inflation. Hence the title The Retirement Gamble not Investing for Retirement. How can anyone guarantee away the inherent risk in investing is the question.
Getting Changes in Your 401(k) by Mike Piper at Oblivious Investor
If you just want to lower the fees in your 401k plan, read these suggestions.
Is Capital Loss Harvesting Overvalued? by Michael Kitces at Nerd’s Eye View
Yes it is. It helps a little bit. A small loophole I won’t miss if it’s closed.
I Finally Broke Down and Bought a New Car. Yes, New. by Len Penzo at LenPenzo.com
Financial bloggers don’t have to apologize for buying a new car. I bought my car new. My wife bought her car new. The cars we replaced were also bought new. I want to drive my Honda to the moon (238,900 miles). We will see if I can accomplish it.
If You Hate Your Bank Then I Have Bad News For You at Money Beagle
I have a hard time understanding why people like to complain about banks. Retail banking is one of the most competitive businesses. If you don’t like your bank, just move. With plenty of choices there is no point in complaining, unless you still want their service but just don’t want to pay the price they ask.
First Anniversary of Barclays Online Savings Accounts and CDs by Ken Tumin at DepositAccounts.com
Barclays Bank is relatively unknown. So is CIT Bank. Both offer better rates on savings accounts and CDs than the better-known competitors Ally Bank and Capital One 360 (formerly ING Direct). There are good reasons Barclays and CIT will stay competitive. Another new entrant TIAA Direct lacks such motivation. It quickly faded into mediocrity as a result.
Lessons learned from three prospective clients by Michael Zhuang at The Investment Fiduciary
You always learn from others whether positive or negative.