by Erin Lowry
Sullivan, Paul, 214
Swell, 102, 144, 157, 159–60
target-date (all-in-one) funds, 60–61, 64
Tax Cuts and Jobs Act, 193n
taxes, 4, 52, 186
financial advisors and, 150–51
investing advice and, 215, 217
and investing while paying off student loans, 86, 89–90
investment terminology and, 30, 42, 44–45
micro-investing apps and, 125, 131, 136
nonretirement account investing and, 70, 74, 77
retirement investing and, 57–58, 62, 64–69, 74, 77
robo-advisors and, 140–43, 146, 150–51, 154, 192
selling investments and, 190, 192–94
and starting to invest in market, 94–95, 102, 105, 110
and tactics of wealthy people, 199n, 200, 202, 205, 208
tax-loss harvesting, 190
definition of, 44–45
robo-advisors and, 140–41, 143, 146, 154
and starting to invest in market, 102, 105
term life insurance, 178, 186
Tesla, 111, 159
Thin Green Line, The (Sullivan), 214
time, time horizons, timing, 121, 216
and case for investing, 4, 6–7, 9–12
and investing while paying off student loans, 79, 82, 84, 87, 89–90
investment terminology and, 31, 34–36, 38–39, 42–43
market crashes and, 167, 173–76
micro-investing apps and, 129, 135
and misconceptions about investing, 19–20
nonretirement account investing and, 72–74
retirement investing and, 58–61, 71, 76
risk and, 51–52, 60
robo-advisors and, 141, 145–46, 149
selling investments and, 190, 192
and starting to invest in market, 2, 93–94, 103, 105, 110
and tactics of wealthy people, 199–200, 204, 207
trading (transaction) fees, 100, 107, 122–24, 133, 142
Trinity study, 75
T. Rowe Price, 101, 215
tulip mania, 44, 55, 165–66
12B-1 fees, 42, 108–9
25 Rule, 75–76
Unchained, 212
UN Sustainable Development Goals, 157–58, 160
USA PATRIOT Act, 95
Vanguard, 36–37, 52, 65, 101–2, 129, 132, 145, 161, 180–81, 213
investing advice from, 214–15
robo-advisors and, 142, 144–45, 150
vesting schedules, 63–64
Virta, Julie, 10, 19–20, 22–24, 48, 85
Volkswagen, 159
Wall Street Journal, The, 11, 211
Wealthfront, 102, 144, 150, 215
Wealthsimple, 102, 114, 140, 149–50, 160
investing advice from, 215–16
overview of, 143
wealthy people, 19, 134, 214, 220
Barrett on, 206–7
Boneparth on, 204–5
Bruno on, 205
Fox on, 198–201
Jaconetti on, 202–3
Krawcheck on, 201–2
Krieg on, 203–4
in protecting assets, 199–200, 207
Schlesinger on, 204
self-made, 195–98, 203
tactics of, 195–208
websites, 1, 118, 169, 178
investing advice and, 210–11, 214–17
micro-investing apps and, 128, 130–31
robo-advisors and, 142, 144
and starting to invest in market, 95, 99, 104, 107
Wells Fargo, 101, 159
whole life insurance, 178, 186
wills, 66
XY Planning Network (XYPN), 152
ABCDEFGHIJKLMNOPQRSTUVWXYZ
About the Author
Erin Lowry is a personal finance author and speaker who loves helping others #GYFLT and #LUYM. (She’s a Millennial, so is contractually obligated to lean in to using hashtags.) Her first book, Broke Millennial: Stop Scraping By and Get Your Financial Life Together, was named by MarketWatch as one of the best money books of 2017 and her style is described as refreshing and conversational. Erin lives in New York City with her husband. She also loves tweeting, so you can reach out to her @BrokeMillennial or on Instagram @BrokeMillennialBlog.
ALSO BY ERIN LOWRY
* The compound interest calculations performed in this book are done using my favorite online calculator, from the US Securities and Exchange Commission, which you can find here: https://www.investor.gov/additional-resources/free-financial-planning-tools/compound-interest-calculator.
* But it caps your eligible compensation at $275,000.
* In 2018, $18,500 was the maximum amount you could contribute to a 401(k) or 403(b). For information on current limits, visit www.IRS.gov/retirement-plans.
* If your brokerage is an SIPC member and ends up in financial trouble, the SIPC insurance will help protect you against losses. However, it doesn’t bail you out if the market takes a tumble. You can learn more at https://www.sipc.org/for-investors/what-sipc-protects.
* You can go back to chapter 6 for a refresher course on expense ratios and fees.
* Volkswagen had a major emissions scandal that broke in 2015 while Wells Fargo had a series of scandals from 2016 to 2017, including account fraud and employee mistreatment.
* That means you want to see an ESG rating of BB, BBB, A, AA, or AAA.
* At the time of our interview.
* It started with only twelve companies.
* Large-cap refers to companies that are valued at more than $5 billion. This value is determined by something called market capitalization. Market capitalization is (stock price) × (number of shares issued). For example, let’s say Joey’s Donuts issued 500,000 shares to investors, and each share is worth $130. Joey’s Donuts’ market capitalization would then be ($130) × (500,000) = $65,000,000. Large-cap companies are usually seen as stable and, dare I say, safer investments because their sheer size makes them less likely to go under. While not entirely true, the phrase “too big to fail” comes to mind.
* It depends on your tax bracket specific to long-term capital gains and dividends, not your ordinary income tax bracket. These changes occurred under the Tax Cuts and Jobs Act.
* This is actually a really fascinating example of how the wealthy think differently. I highly recommend checking out NPR’s Planet Money episode 823: “Planet Monet,” which digs into the world of buying, selling, and storing art as a means of protecting your wealth and shielding yourself from paying taxes.
* I wrote this book before we actually said “I do,” but it was published after our marriage, so it was exciting to be writing “husband” for the first time!
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