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My “Bad” Personal Finance

“Dad, can we go speed?” I always wondered if my kids would be like me.  So when William asked that question on the way to swimming lessons, I knew I could check that box.  Yep, this kid inherited the car gene.  My dad is a car guy.  By today’s standards (I enjoy driving stick), I am a car guy.  And now it seems the next generation has the bug.  What’s this got to do with personal finance?  Cars are one of the biggest targets for personal finance bloggers.  If you’re trying to live the FIRE (financially independent, retire early) lifestyle and do the whole retire in your 30s/40s thing, a car can be a huge burden on this journey. Car FIRE The FIRE crowd isn’t necessarily against cars so much as car payments.  Their arguments are air-tight and their logic is flawless.  Yes, it makes sense to buy a used…

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Tone Deaf on ETFs

A couple of major announcements in the Exchange Traded Fund (ETF) world last week: State Street announced that they slashed the expense ratios on a ton of their ETFs and TD Ameritrade added a ton of ETFs to their ‘no-commission’ platform.  At first glance, this is great news.  Cheaper beta is available to more investors.  However, this is actually tone-deaf and a transparent money grab.  Hopefully, investors will show that they know better. Huh? State Street’s fee reductions are late in arriving.  Vanguard and iShares have been eating State Street’s lunch for years, in large part due to lower expenses.  Will investors flock to State Street now that it is the low-cost provider?  Perhaps the dumb ones will.  Investors who have money with Vanguard or iShares likely have huge gains.  Selling these positions to save a couple of basis points would be penny wise and pound foolish. While it is…