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Why Vanguard is too Big: Part VII: What Do You Have to Lose? A LOT

October 9, 2020 By E.J. Smith - Your Survival Guy

By Gearstd @ Shutterstock.com

You wouldn’t believe the conversation I had yesterday with a prospective client. It’s as if he’s done everything we’ve recommended over the years and we were set to talk yesterday—after all of those years later—to see how it all turned out.

I’m here to tell you, quite well, indeed. This gentleman is wealthy beyond his imagination and I bet, having not met him face to face yet, I wouldn’t be able to pick him out of a lineup. That’s the beauty of quiet wealth: You control how you move about the world with no pressure to live up to some silly image.

Long ago, my new friend and his wife decided to venture down a road of saving, saving, and more saving, and living below their means. The return for this? I’ll tell you. “E.J.,” he said. “You know the most amazing feeling in the world is when my wife says to me, ‘thank you for our life together. Thank you. I love our life.’”

What’s not to love? They love Switzerland—a country they consider to be their home away from home—which is an easy shot to Paris where they’ve taken their granddaughter, “who just loves Paris.” What granddaughter wouldn’t?

“What prompted you to contact us?” I asked. “After all you’ve done such a nice job on your own,” I said. In which he replied, “I want to make sure my wife is taken care of if something should happen to me, but I don’t like to jump all in at once, so I want to work with you and see what it’s like before I turn over everything to you.”

“Welcome home,” I said.

And just like that we talked about how he’s already transitioned half of his accounts from Vanguard to Fidelity. “Fidelity’s website is so much easier,” he said.

“I know.”

Funny how my conversations evolve in a day. In another conversation—with a client who’s been with me for over twenty-years now—we were talking about his estate. His attorney told him he was pretty shocked at the size of it. He replied “not bad for an ‘ole country boy.” Our conversation eased into how his kids, successful in their own right, will handle what will eventually be theirs. I said I know just the guy to help. He said, “They don’t know you yet, E.J., but they know my money’s with you.” I said “There’s no time like the present for us all to start talking.”

So that’s just a snapshot of just one day. Your life stories are simply amazing and so much fun to talk about. You probably can’t believe your incredible success yourself. But you and I know change is tough.

Remember, you don’t have to make drastic changes to change your life or your family’s—you might find there’s some low hanging fruit, like an IRA or a child you’d like to have me talk with. What do you have to lose? You don’t want to miss the boat.

Action Line: You will feel better when you get your financial life in order. That’s a fact. My daily messages are to help keep your eye on the ball and stay organized. Sometimes talking regularly with someone like me can be all the help you need. Let’s stay in touch. I’ll be here for you every day. You can count on it. I’d love to talk to you.

P.S. Read more about Why Vanguard is Too Big here.

Originally posted on Your Survival Guy.

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  • Author
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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 Zilldjians. 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 and Paris.

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