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If You’re a Highly Effective Person, We Should Talk

March 24, 2023 By E.J. Smith - Your Survival Guy

By BigBlueStudio @ Shutterstock.com

Happy Friday. It’s tax season. Unfortunately for mutual fund investors, this can be the time of year you realize your fund was down, but you still owe taxes.

Life Comes at You Fast. Slow It Down with My Friday Email. It’s Free.

Because of its structure, a mutual fund puts you in the same boat as other investors. If some head for the exits, the manager is forced to liquidate positions to raise cash.

Some of the positions he sells could be at a long-term gain creating a taxable event. It’s a lot like going out to dinner with ten of your college friends, and then two of them leave before helping with the bill. Not cool.

When Vanguard founder Jack Bogle created his company, what he had in mind was a way for investors to own the market at a low cost. Mission accomplished.

But the industry changed. Today, with the ability to buy stocks commission free at Fidelity, for example, one can construct a low-cost portfolio catered specifically to one’s needs.

Mr. Bogle was the king of long-term investing. In his later years, he marveled at how much he was worth by simply putting one foot in front of the other. I picture him in my head sailing on a beautiful afternoon, smiling at his good fortune.

I also imagine his frustration when investors would head for the exits in rough markets. His timeless advice was: “Don’t just do something, stand there.”

But not every sailor is cut from the same cloth. Not everyone is a saver, or what I refer to as a highly effective person. Mutual fund investors are stuck in the same boat. Some you’d throw overboard.

Action Line: Times change. Robots are now calling the shots for some portfolios. I’d never let them in my boat. They don’t know you. They don’t understand why saving money is hard. They don’t know what it feels like to sacrifice and to do without. They’re not a person.

If you’re a highly effective person, I want to talk with you.

Originally posted on Your Survival Guy.

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E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

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