Podcasts about Vanguard

What's the connection between conversations about money and financial literacy? Could the taboo against talking about your salary be fading? And why did Angie's teenage daughter call Vanguard to learn about I.R.A.s? This episode originally aired on January 9th, 2022. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Americans are saving more for retirement than ever before, according to Vanguard's latest "How America Saves" report. But even with record 401(k) balances, many workers may still be far from generating enough income to replace a paycheck. In this episode, Kathy Fettke breaks down the numbers and explains what they could mean for real estate investors looking to build long-term retirement income.   Want to watch our free retirement webinar? Visit www.NewsforInvestors.com.   Sources: https://workplace.vanguard.com/content/iig-transformation/pdf/how-america-saves-2026.html https://401kspecialistmag.com/how-america-saves-2026-preview-strong-market-auto-features-power-record-401k-balances  

You can get a perfect workout plan and still never get in shape. The science is right there. The exercises are correct. But knowing what to do and actually doing it when you don't feel like it are two completely different problems. That's why personal trainers exist — not to hand you better information, but to make sure you show up and follow through. Investing works the same way. In this episode of Off The Wall, David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM make the case that behavior — not strategy — is the real variable in investment returns. They break down dollar-cost averaging as a structural accountability tool, walk through what the Vanguard lump-sum data actually says (and the hidden assumption most people skip over), and show how pre-set triggers turn market sell-offs into buying opportunities instead of reasons to freeze. The TLDR: the best investment strategy isn't the one with the highest expected return. It's the one you'll actually stick with when the market is down and your instincts are telling you to do something about it. Because in investing, you don't win in the spreadsheet. You win in the chair.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures   Episode Timeline/Key Highlights: 0:33 — Vinyl And Setup 2:42 — Volatility Makes Cash Decisions Hard 3:06 — Dollar Cost Averaging Explained Simply 5:35 — Why 401(k) Autopilot Works 6:57 — Vanguard Data And The Hidden Assumption 10:10 — DCA Triggers To Buy Selloffs 12:30 — Experience Changes How Pullbacks Feel 15:06 — Stop Hunting For The Perfect Bottom 17:50 — Missing Best Days And Political Noise 24:20 — Time Horizons And Cash As An Asset 29:57 — Dalbar Study And The Value Of Advice 24:20 — Wrap-Up Plus AMA Call For Questions   Connect with Monument Wealth Management:    Visit our website: https://monumentwealthmanagement.com/   Follow us on Instagram: https://www.instagram.com/monumentwealth/#   Connect on LinkedIn: https://www.linkedin.com/company/monument-wealth-management/   Connect on Facebook: https://www.facebook.com/MonumentWealthManagement   Connect on YouTube: https://www.youtube.com/user/MonumentWealth#Fit   Subscribe to our Private Wealth Newsletter: https://monumentwealthmanagement.com/subscribe/   Check out our Between Sips Podcast: Where Money Meets Meaning Because money without meaning never feels like wealth. https://monumentwealthmanagement.com/between-sips-podcast/   About "Off the Wall":    Markets are noisy. Your time is limited. Off The Wall cuts through the clutter. Hosts David B. Armstrong, CFA and Nate Tonsager, CFA, CIPM bring you straightforward, candid insights about what's really moving markets and why it matters for successful investors. From economic shifts to portfolio positioning, we break down the complexities so you can invest with intention and stay grounded when headlines and life feels chaotic.   Learn more about our hosts on our website at https://monumentwealthmanagement.com 

In this Meaningful Money Q&A episode, Pete Matthew and Roger Weeks answer six listener questions on UK personal finance - from gifting money to children using the 'normal expenditure out of income' rules to whether ISA withdrawals can support one-off big spends. They also cover pension consolidation and FSCS protection, investing while living abroad, how DB pension accrual affects SIPP annual allowance, and how to bridge the gap to State Pension without over-relying on AVCs. Finally, they tackle the practical steps to opening a Stocks and Shares ISA - and how to get started with confidence. Practical, jargon-free guidance for UK savers and investors navigating pensions, ISAs, tax and retirement planning. Shownotes: https://meaningfulmoney.tv/QA53  02:35  Question 1 Hi Pete and Roger, I have followed meaningful money for around 6 years now and it has been an invaluable source of sensible advice which I have followed. This has left my wife and I in a very good situation for retirement as you will see below. You deserve an MBE at least!. Love the double act with Roger as well. I am 62 and my wife is 60 years young. Our total pensions will be around 35K a year which is all we need for our basic living cost and general going out etc. We have a house worth £750K with no mortgage and no debts. I have a DC pension around £920K and my wife around £650K and our two boys have just moved out of our house and so we are now retiring and relearning life B.C. (Before Children). I have begun looking into gifting them money out of excess income. I like the idea of giving with warm hands - and strangely so do my boys! Putting our scenario into google gemini, using UFPLS with regular drawdowns and keeping within the current 20% tax band we could each have around 50K income after tax over the next 30 years. Really cannot see us spending more than 40K/year travelling and this will certainly reduce in time as we get older and so will give the increasing excess to our kids. To keep HMRC documentation simple (hmm) we plan to use our joint account to give gifts to the boys but I am guessing that we will need to prove to HMRC that we have equal income to do this? So my wife will take 8.5K less from her DC pension than I from mine. I hope this all makes sense. I presume if our incomes were not balanced we would have to pay out from our individual accounts and document both for HMRC purposes? In addition I have 200K and my wife around £150K in ISAs and savings . I know we can each gift 3000/year from the ISA as well as using excess income from our pension. Again, I asked google gemini about this and apparently I can use the ISA for certain capital payments. Eg a) to buy a new car b) redo bathroom/bedroom c) a large holiday  Not sure what would be the position if we said our largest holiday each year is paid from an ISA and any other holidays are from our pension income and we still gift excess to the kids? - seems a very grey area. I am sure in time HMRC will look closer into this area. So I think it will be sensible to still use the ISA in the next few years and not take everything from the pension and possibly change to funds from accumulation to income as well? One last thought as all this is based on the current tax rates. The IHT rate NRB has not changed since 2009 and would be worth around £530K today and I am presuming there will be increasing pressure to raise this given house price growth and especially after 2027 when pensions are included in the estate for IHT? Best Regards, Bill   09:37  Question 2 Dear Pete and Roger, I can't thank you enough for the excellent free content you put out into the world. I recently got diagnosed with a degenerative condition which will affect me and my family down the line. Your podcast has inspired me to take control of my finances including putting the right protections (insurances) in place and using investing to help navigate a more uncertain future - THANK YOU! The information is accessible and you guys make me chuckle as I go about my day! My question... I am keen to make my life easy when it comes to managing my finances but I have hit a wrinkle in my plan. My preference would be to consolidate my pension into as few pension accounts and underlying funds as possible.  To me the levels of protection available through the FSCS seem too low to be compatible with keeping a pension all with one provider. Am I missing something? How do you think about balancing this risk, without ending up with lots of pension accounts with different providers? Additionally, I have been selecting the same low cost All-World tracker ETF across my family's ISAs and SIPPs, is this inherently risky too and should I aim to use different fund providers (perhaps that aim to achieve the same investment objective). Anyway, I may be being overcautious here or be misunderstanding the level risk but any reassurance would be greatly appreciated. Thank you again Andy   18:24  Question 3 Hi Roger and Pete, I'm 32 and I've been listening the podcast for a few years and the advice (particularly about investing) has helped me immensely. I have a question about investment portfolios when moving abroad. I moved away from the UK 2.5 years ago, at which point I stopped investing into Vanguard and moved to Interactive Brokers. I still have a decent amount invested in Vanguard, but I'm not sure whether it makes sense to consolidate everything into one platform or keep it split over two. I don't have any immediate plans to return to the UK, although I imagine I will eventually. Do you think it makes any difference in how the investments are split, or am I worrying about nothing? Thanks for sharing any of your *thoughts* and perhaps clearing this up for me. Keep up the amazing podcast, Michael (originally from Cornwall!)   21:23 Question 4 Hi Pete and Roger I recently discovered your podcast and am working my way though the back catalogue! I am finding it extremely informative and it is helping me demystify a subject I have found confusing for a long time, so thank you. My question is how do I calculate the amount I can contribute annually to my SIPP whilst also contributing to a DB pension and AVCs (£200/month)? My annual gross salary is £25744. I opened the SIPP to give me flexibility to retire earlier than 67 when I intend to access my DB pensions (as well as my current local government DB pension I have a deferred University DB pension from previous employment), ideally between 60-62, and access the SIPP along with my S&S ISA to bridge the gap. Thanks, Melanie   27:28 Question 5 Hello Pete & Roger, I'm a long time listener and as a result in far better financial shape than I was for many years, thank you. In work I am often akin to the Shawshank Redemption character Andy Dufresne as I find myself offering financial or pension scheme advice to colleagues. This advice ends with recommending your good selves and the knowledge repository that is the Meaningful Money archive and books! I am 56 and just over 4 years from my planned early retirement at 61,  when I will have 36 years contributing into a company DB pension. I plan on taking this in a stepped format (with PCLS) to offer a higher initial payment until my state pension starts 6 years later at 67. To maintain basic rate income tax, I am paying my maximum matched pension contributions plus AVC's through salary sacrifice (until 2029) to keep just under the 40% tax limits. My wife will be solely reliant on her (full) State Pension having not contributed to a personal pension, she will receive this when I am 64, meaning our combined funding danger zone will be around 3 years during which we may need funds to top up our income either from the PCLS pot or ISA savings to this final combined total, "our figure". So my question: You repeatedly talk about retiring with options such as having pensions, ISA's and savings etc. but I am concerned my pension and AVC fund will be totally concentrated with little else. After maximising the pension and AVC contributions it looks likely I will not contribute enough to fund a savings pot that could comfortably cover the 3 year danger zone. Will this pension / AVC concentration matter? Should I continue paying the AVC's to avoid higher rate tax on my income and recovering tax rebate into the AVC pot? To me this makes sense, but would funding a savings pot give us flexibility to fund our pension gap somehow that I am missing, and do I need to target an ISA or other savings pot in my remaining working years. This prospect would feel like not living for today, but retirement is in touching distance so might it be worthwhile? Many thanks & best regards, Tim   34:52  Question 6 To the Bruce Springsteen and Little Steven of the financial world! Hi guys my name is Cam, I'd just like to say you guys are absolutely fantastic at what you do, the knowledge you provide is genuinely incredible and immensely helpful. I think I speak for all your listeners when I say without your podcast there would be a lot of people struggling with personal finance! Keep up the good work Pete and Rog! I am 27 years old, 17 months ago I quit my 9-5 and started my own dog walking business, I have since trained to become a dog trainer too. My business has gone from strength to strength and I'm very proud. However the change from going from a wage structure to a varied income per month has been a tough adjustment especially when saving and wanting to invest and so on. I contribute to my pension each month, I pay into a LISA each month (for a first time home) the only thing I don't do is pay into a stocks and shares ISA. Firstly how do I open one? I have listened to your podcast for well over 2 years now and have listened to the majority of the back catalogue, I feel like I know what to do but it's a genuine fear that's stopping me from opening one. I don't know how to explain it - it's almost like my head is telling me 'don't open one you'll mess it up.' Is it literally as simple as sign up to a provider, open an account, add money in each month? I feel stupid saying I'm fearful of opening one but I genuinely am! The last part of my question is simply is there anything else I should be doing that I'm currently not?  Insurance wise I have income protection and the necessary insurances for my business. Thanks once again you absolute legends! Cam Boring Money ISA Comparison: https://www.boringmoney.co.uk/compare/stocks-and-shares-isas/ 

We caught up with our good sib Kamil Oshundara to talk about art, monsters, and Hollywood's obsession with a spiritual practice they refuse to understand.Want More Time In The Blerdy Atmosphere?Check out https://linktr.ee/blerdymassacre to link up with Blerdy Massacre on Bluesky, Instagram, TikTok, and Twitter. It'll also lead you to our merch store and Patreon.You can also follow your hosts at @xghorror and @misssharai on Instagram and Twitter. Hosted on Acast. See acast.com/privacy for more information.

[English as below]Việt Nam đang đứng trước cơ hội hiếm có để bứt phá khỏi bẫy thu nhập trung bình và tiến gần hơn đến mục tiêu trở thành nền kinh tế nghìn tỷ USD. Nhưng tăng trưởng nhanh thôi là chưa đủ. Câu hỏi lớn hơn là: Làm thế nào để Việt Nam xây dựng được những động lực tăng trưởng bền vững, thay vì tiếp tục phụ thuộc vào FDI và lợi thế lao động chi phí thấp như nhiều nền kinh tế đi trước?Trong tập 396 của Vietnam Innovators (Tiếng Anh), host Hảo Trần trò chuyện cùng ông Cường Đặng - Chủ tịch Vietnam Vanguard, về con đường hướng tới nền kinh tế nghìn tỷ USD của Việt Nam, bài toán bẫy thu nhập trung bình, khoảng trống lãnh đạo kế cận và những thách thức mà thế hệ doanh nhân F2 đang phải đối mặt khi tiếp quản doanh nghiệp gia đình trong bối cảnh cạnh tranh toàn cầu ngày càng gay gắt.—Vietnam stands at a pivotal moment in its development journey. With ambitions to become a trillion-dollar economy, the country has an opportunity to break free from the middle-income trap. Yet the real challenge lies in building sustainable growth engines rather than relying solely on foreign investment and low-cost labor - the very model that has limited the long-term progress of many economies before it.In the EP 396 of Vietnam Innovators (English Edition), host Hao Tran talks with Cuong Dang, Chairman of Vietnam Vanguard, to discuss Vietnam's path toward a trillion-dollar economy, the risks of the middle-income trap, the growing leadership succession gap, and the unique challenges facing second-generation business leaders as they navigate an increasingly competitive global landscape.-Listen to this episode on ⁠Youtube⁠And explore many amazing articles about the pioneers at: ⁠https://vietcetera.com/vn/bo-suu-tap/vietnam-innovator⁠-Feel free to leave any questions or invitations for business cooperation at ⁠team@vietcetera.com

Peter makes his return on the air with Drew as they talk to callers and answer questions regarding how to purchase Space X, estimated taxes for covering capital gains, group medical plans for religious organizations, Vanguard mutual funds vs ETF, and more! Download and enjoy!

On episode 247 of The Compound and Friends, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Michael Zezas, Deputy Global Head of Research at Morgan Stanley, to discuss: AI capex, data centers, productivity gains, prediction markets, the 2026 midterms, the Fed, enterprise software, and why policy calls are so difficult to translate directly into investment outcomes. This episode is sponsored by Public and Vanguard. To learn more about Public, visit https://public.com/Compound. To learn more about Vanguard bonds, visit https://vanguard.com/audio. Sign up for The Compound Newsletter and never miss out: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thecompoundnews.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠instagram.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠twitter.com/thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠linkedin.com/company/the-compound-media/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠tiktok.com/@thecompoundnews⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. The Compound Media, Incorporated, an affiliate of ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ritholtz Wealth Management⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/advertising-disclaimers⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://ritholtzwealth.com/podcast-youtube-disclosures/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ DISCLOSURES: For important disclosures, stock price charts and equity rating histories regarding companies that are the subject of this public appearance, please see the Morgan Stanley Research Disclosure Website at www.morganstanley.com/researchdisclosures, or contact your investment representative or Morgan Stanley Research at 1585 Broadway, (Attention: Research Management), New York, NY, 10036 USA. For valuation methodology and risks associated with any price targets referenced in this research report, please contact the Client Support Team as follows: US/Canada +1 800 303-2495; Hong Kong +852 2848-5999; Latin America +1 718 754-5444 (U.S.); London +44 (0)20-7425-8169; Singapore +65 6834-6860; Sydney +61 (0)2-9770-1505; Tokyo +81 (0)3-6836-9000. Alternatively, you may contact your investment representative or Morgan Stanley Research at 1585 Broadway, (Attention: Research Management), New York, NY 10036 USA. Public Disclosure: Paid for by Public Investing. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Complete disclosures available at https://public.com/disclosures Learn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom take on one of investors' biggest blind spots: focusing on tiny costs while ignoring the factors that have a far greater impact on long-term wealth. Using a recent Jason Zweig article as a springboard, they explain how taxes can reduce stock market returns far more than the difference between low-cost fund expense ratios. The discussion covers tax-efficient investing, asset location, ETFs versus mutual funds, dividend taxation, capital gains, and why investors should pay more attention to portfolio design than chasing the lowest possible expense ratio. They also dissect a highly tax-inefficient YieldMax fund tied to MicroStrategy and Bitcoin, illustrating how taxes and poor fund structure can devastate returns. Listener questions cover Morningstar's acquisition of CRSP indexes and whether it threatens Vanguard investors, plus whether a retiree working part-time can contribute earned income to a Roth IRA.0:05 Big-picture investing versus obsessing over tiny details0:39 Why fund expense ratios matter less than most investors think2:06 Jason Zweig's research on taxes reducing long-term market returns3:20 How taxes often outweigh fund expense differences4:06 Qualified dividends versus ordinary income taxation5:03 Why investors should pay attention to after-tax returns5:40 YieldMax funds and the hidden cost of tax inefficiency7:19 The dangers of exotic income-focused ETFs7:48 Why ETFs can be more tax-efficient than mutual funds9:15 Tax knowledge as a critical investing skill10:30 Asset location: where stocks and bonds belong11:20 The YieldMax MicroStrategy fund and Bitcoin losses11:58 The truly important parts of financial planning13:15 Listener question from Longmont, Colorado14:17 Morningstar, CRSP indexes, and Vanguard concerns16:00 Why market-cap indexes are unlikely to be manipulated17:16 Morningstar ratings and conflicts of interest discussion17:58 Thoughts on the military-industrial complex19:23 UFL football, soccer, and sports tangents20:47 Listener question about Roth IRA contributions from part-time work21:30 Filing thresholds and earned income requirements for Roth IRAs23:21 Listener questions, voice submissions, and website tools24:08 AI voices and synthetic Don McDonald25:59 Romper Room memories and closing banterQuestions? Comments? Click!

In this episode of Partner Perspectives, a special miniseries within the Look Forward podcast, host Molly Mintz explores the rapid evolution and enduring resilience of global fixed income markets. Drawing on S&P Global and Vanguard's joint research, Partner Perspectives: Unlocking Potential Ahead, the conversation examines how geopolitical disruption, technological innovation, and  new market innovations and infrastructure are transforming the bond market for issuers, investors, and portfolio managers alike.  Alexandre Birry of S&P Global Ratings provides the macro-credit perspective, explaining that bond markets have remained orderly and functional despite geopolitical uncertainty, energy price volatility, and broader macro risks. He discusses the surge in tech and AI-related issuance, the growing importance of selectivity in credit markets, and the longer-term potential of infrastructure innovations such as tokenization, DeFi, stablecoins, and digital settlement rails.  Matt Chessum of S&P Global Market Intelligence unpacks the growth of global fixed income ETFs, which have expanded into a multi-trillion-dollar market by offering investors diversified bond exposure through a single tradable vehicle. Chessum explains how bond ETFs can improve accessibility, transparency, and price discovery (especially during periods of stress), while also pointing to a future in which digitalization and tokenized market infrastructure further enhance market liquidity and flexibility.  Jeffrey Johnson of Vanguard takes listeners inside the mechanics of bond index fund management, explaining why fixed income indexing is far more complex than it may first appear. With benchmarks like the Bloomberg U.S. Aggregate Bond Index containing roughly 14,000securities, Johnson describes the "art and science" of sampling, risk alignment, trading, and cost management required to closely track a benchmark. He emphasizes why low-cost bond index funds remain a critical source of diversification and ballast in uncertain markets.  Chapters:  [00:00] - Introduction to Partner Perspectives and the evolution of fixed income  [03:00] - Alex Birry on bond market resilience amid geopolitical uncertainty  [05:25] - Tech issuance, AI disruption, and the new status quo in credit risk  [07:50] - The future of bond market infrastructure: DeFi, stablecoins, and tokenization  [10:45] - Matt Chesham on how fixed income ETFs work and why they've grown so quickly  [13:20] - Structural cost advantages, diversification, and the appeal of bond ETFs  [16:00] - How bond ETFs improve liquidity, price discovery, and market access  [20:10] - ETFs in volatile markets: resilience, stress scenarios, and risk transfer  [24:10] - Looking ahead: digitalization, modular bond investing, and market evolution  [29:45] - Jeffrey Johnson on the complexity of managing bond index funds  [31:45] - Why fixed income indexing lagged equities and what's driving adoption now  [35:10] - How investors use broad and targeted bond index funds  [37:10] - The "art and science" of tracking the Bloomberg US Aggregate Bond Index  [41:20] - Why active decision-making powers passive bond portfolios  [43:20] - Why bonds remain essential as portfolio ballast in uncertain times  [45:00] - Final takeaways and the importance of collaboration across markets  This podcast was authored by a cross-section of representatives from S&P Global and in certain circumstances external guest authors. The views expressed are those of the authors and do not necessarily reflect the views or positions of any entities they represent and are not necessarily reflected in the products and services those entities offer. This research is a publication of S&P Global and does not comment on current or future credit ratings or credit rating methodologies. 

The FBI just foiled a mass casualty terror plot targeting Americans at the White House — and TikTok helped recruit the killers. You need to watch this before it gets buried under the next news cycle. Five Americans have been arrested and charged after the FBI disrupted a chilling multistate plot to attack the UFC Freedom 250 event on the White House South Lawn. We're talking explosive-laden drones targeting buildings to force a mass evacuation — then a pre-staged sniper team waiting for the crowd. A second wave was allegedly planned to storm the White House gate. This wasn't some vague threat. These people had Signal chats, aerial maps, sniper positions, escape routes, and $3,000 in gear. They called themselves "Vanguard of the Old" — and they used TikTok to recruit. Here's what's wild: Investigators identified 23 people in the planning network. Only five are charged so far. The FBI learned about the plot partly because a 19-year-old suspect's OWN MOTHER called law enforcement. She noticed her son spending his graduation money on ballistic plates, ammo, and plate carriers. That detail alone should tell you everything about what was almost lost that day. We also cover: Did Trump just SNUB Volodymyr Zelenskyy and Keir Starmer? Explosive leak: 14-point memorandum of understanding with Iran exposed. JD Vance vs. "The View" (aka "The Coven"): Fiery showdown you have to see. McDonald's brings back the beloved fried apple pie to celebrate America 250. Hillary Clinton throws Joe Biden under the bus: “He made a terrible mistake.” Drop a comment: Do you think TikTok should finally be banned after this? YES or NO — Pat reads every single one. And honestly — does it surprise you that the mainstream media barely covered this? Tell us below. If you want the stories the legacy media hopes you never see, subscribe to "Pat Gray Unleashed." We're not stopping. 00:00 Pat Gray UNLEASHED! 01:22 Planned Attack on the White House?! 03:48 Trump Asked about Planned White House Attack 08:15 Trump Talks about Israel 10:54 Trump Turns his Back on Volodymyr Zelenskyy 12:03 Trump Ignores Keir Starmer 12:50 Trump Receives Soccer Jersey from Chancellor Merz 14:30 Trump on Visiting Versailles 15:55 Gas/Oil Prices 17:41 G7 Summit "Family Photo" 19:19 Memorandum of Understanding 31:49 Chewing the Fat 42:59 SpaceX Market Cap 48:19 Pat Gray Addresses Video Buffering 51:22 JD Vance on The View 52:08 JD Vance Talks with Glenn Beck about The View 53:22 The View's Audience Claps for JD Vance?! 55:07 The H-E-B Tangent 57:58 Small Talk with JD Vance & The View 58:26 The View Asks JD Vance about Faith & Immigration 1:00:56 JD Vance Asked by The View about Black Heroes 1:10:31 The View Asks JD Vance about Nicolás Maduro Raid 1:12:36 Hillary Clinton on Joe Biden's 2024 Campaign 1:16:51 Kamala Harris on DOJ/Gavin Newsom 1:18:52 Kamala Harris' Classic Line 1:19:46 Kamala Harris Asked about Gas Prices/Iran War 1:26:25 Lesbian Teacher Comes Out to her Class of Fourth Graders! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is a free preview of a paid episode. To hear more, visit www.politix.fmDonald Trump will either surrender to Iran on Friday in Switzerland, or scuttle the deal—sorry, “memorandum of understanding”—in the face of overwhelming opprobrium and humiliation. Who can say!In this episode, Matt and Brian discuss:* Why the terms of the peace deal, such as we understand them, are so unacceptable to the Iran hawks who made strategic alliance with Trump because they thought they could manipulate him into war;* How a deal that's both weaker than JCPOA and leaves Iran with de facto control over the Strait of Hormuz changes geopolitics—and is likely unacceptable to Israel;* Whether Democrats should rub Trump's defeat in his face, or let him pretend he won to reduce the risk that he goes back to war. Then, Elon Musk became a trillionaire last week, after taking SpaceX public. And he did so thanks in large part to Nasdaq, which changed its own rules to require Nasdaq index funds to buy SpaceX stock, and bid up its price, despite the fact that the company lacks any near-term path to profitability. Is this a reasonable evolution in Wall Street's treatment of mature companies when they go public? Or was Nasdaq snookered by Musk's many grandiose promises of future growth and technological development? Should passive investors really have no recourse to scrutinize and challenge these companies when they change rules governing how our money is invested? And what should happen if it turns out Musk is just exploiting laws, rules, and markets to turn our IRAs and 401ks into piggy banks to bail out his failing companies?Answers are available in full to paid subscribers—just upgrade your subscription and pipe full episodes directly to your favorite podcast app via your own private feed.Further reading:* Catherine Rampell on the SpaceX IPO.* Vanguard urges calm on the SpaceX IPO.* Former AIPAC spox can't believe the leopard ate his face.

In this UK personal finance Q&A, Pete and Roger tackle six listener questions covering pensions, investing, tax and money mindset. We discuss whether high earners should ever consider opting out of the NHS pension due to annual allowance tax, how to handle family gifts during divorce, and what to do about ERI on accumulating ETFs in a GIA. You'll also hear guidance on rebalancing after strong fund gains, rebuilding finances after an IVA, and investing a £350k inheritance with ISAs, SIPPs and premium bonds. Shownotes: https://meaningfulmoney.tv/QA52    01:34  Question 1 Dear Pete and Roger, Could you provide an opinion on if and when it would be worth at least considering leaving the NHS pension scheme due to tax reasons?  I can sense immediate puckering and this is not something I ask on a whim - I am aware of the comparative value of public sector DB pensions versus other retirement savings methods and indeed encourage the staff I work with to pay in.  I am a senior doctor in my 40s with high NHS earnings and rental income on top. I am one of those affected by Annual Allowance tapering and have significant AA tax bills every year with no end in sight. My projections are that I will have an annual AA tax charge of ~£30k every year going forwards as my income is pretty stable. The annual AA tax charge is up to 40% of the annual capital benefits accrued in any year (i.e. LTA calc of 20 times pension plus 3 times lump sum).  I pay this via scheme pays but the scheme pays loan docked from benefits at retirement is inflated at CPI+1.7% against pension benefits growth of CPI+1.5% from my own research. I don't expect much sympathy as a high earner but no-one wants to pay more tax than they have to and I never hear my situation talked about other than snippets in the depths of Reddit forums.  My plan is to keep ploughing on and engage a full-scale planning review when I turn 50 leaving up to 10 years to consider aversive action once my wife and I have 'enough' pension. Many thanks for your thoughts. David. 09:23  Question 2 Dear Pete and Roger, I want to say a big thank you for all of the guidance you provide, there really is nothing else like it and has been hugely beneficial in organising my finances. My question for you is how to structure gifts to someone who is going through the early stages of a divorce. My sibling is sadly in this situation and our mother is looking to make a sizeable gift to us following the death of our father. How should we be thinking about this and are there any vehicles or structures such as trusts that we could be using to avoid my siblings spouse from being entitled to half of the gift? Grateful for any guidance you can provide in this matter. Best regards, Alfred 13:12  Question 3 Hi, I have held several GIA accounts for many years and I hold accumulating ETFs within the GIAs. Occasionally, I have had to pay CGT through my self assessment when I have sold these ETFs. Mostly, I have always been a basic rate tax payer. I have recently discovered that HMRC requires Excess Reportable Income (ERI) to be declared on accumulating ETFs. In the case of ETFs which receive company dividends, this means I need to take note of the Reporting date of each ETF and add up all notional dividends as if they were paid on the distribution date (6 months later) and if over £500, I should have paid dividend tax on the excess. Also, in the case of some MMF ETFs I hold, these may have an ERI notional interest payment and this would count as being potentially subject to income tax. Since I have sold many of these ETFs and I have not subtracted the ERI amounts from my total gain, I have probably overpaid tax (CGT) rather than underpaid as a basic rate tax payer. However, if I was a higher rate tax payer, I would probably have been underpaying tax if I have not accounted for ERI. This is because the higher rate dividend tax is much higher than the CGT rate. I now understand that to avoid having to calculate ERI on accumulating ETFs each year and keep a running total for each one, most people simply buy distributing ETFs inside a GIA rather than accumulating ETFs and I am in the process of ensuring all my ETFs are the distributing kind inside my GIAs. Should I be concerned about ERI on my accumulating ETFs? Do accountants calculate ERI for their clients on all the accumulating ETFs they hold? If so, how do they do it as there does not seem to be any easy way? Do HMRC ever check that the ERI on accumulating ETFs has been declared (my guess is that they would only bother for high rate taxpayers with large ETF holdings)? How would HMRC even know that you hold large amounts of accumulating ETFs on which you should be declaring ERI? Why is it that hardly anyone seems to know about ERI on accumulating ETFs? 19:14 Question 4 Good morning both, I would like to start by thanking you for all your hard work over the past decade or so. I am a mid 40's year old woman who had no financial knowledge until about 2 years ago. I had a cancer diagnosis which led me to leave a very time consuming and stressful job and take over the family finances which had been neglected for the best part of 20 years. We are now in a much better position; we have filled our ISA's and that of our children, put more money into SIPP's (and opened one in my case) and opened junior SIPP's for the kids. Our mortgage is paid off too. I have listened to all your back catalogue and in some cases relistened to episodes which have been especially useful to our situation! Thank you. My question relates to funds that have done particularly well and what is best to do with them. Some of my earlier fund choices are showing gains of around 50%. This seems extraordinary to me and I am very happy with the return. My Dad (much more experienced who has been doing this for 50 odd years) tells me the best thing to do with these funds is to take out 50% of the gain and reinvest in a different fund. What would your advice be? Take out the whole lot and re-invest? Take out 50% and re-invest that as recommended by my Dad or leave the whole lot in and hope it continues to grow? For background, I am very happy with the gains but we are very much on a catchup programme as we have started so late. The sums involved are still quite small! The ultimate aim is for my husband to retire early. I hope to work again too at some point once all treatment is finished but only part time. I am so grateful for everything you have done and always wait eagerly for the next episode to drop. With very best wishes, Agnes 26:02 Question 5 Hi, Hope you are well and can help a Cornish lass! I am 35 and have never been able to budget or manage finances. In fact I have always buried my head in the sand.  Unfortunately, when lockdown and maternity leave hit at the same time, we could not afford our debt repayments (we had purchased a house in January of 2020 too). We had no choice but to take out an IVA. We are now in the 6th year of this as it was extended as we couldn't release equity from our home. This is due to end in November of this year and I have been doing my best to learn about budgeting and managing finances ready for when this ends.  I have started a spreadsheet to start tracking expenses and aim to start an emergency fund plus a pot for putting some money away for Christmas/birthdays. I have been discussing this with my husband and he thinks we should get an overdraft as soon as the IVA finishes to start building our credit rating, whereas I think we should get a small credit card that we pay off each time we use it. What do you think we should do as our first few steps coming out of the IVA to build more security for our future?  Thank you in advance. Kindest regards Lisa 33:12  Question 6 Salutations, Roger, Pete, My question is on what to do with a lump sum inheritance-y thing as a younger guy. My parents have been very financially successful in business and incredibly generous to my brother and I, and gifted us each an apartment a few years ago, to make use of the "first property" exemptions and the 7 year gift rule. Now that I'm mature enough to understand the opportunity, I've taken control of the management of mine. While I understand it's an incredible income generating asset, I'm not a fan of real estate, and am much more comfortable selling the property and investing in index funds within the variety of wrappers available in the UK. After fees and taxes, should I go through with the sale, I will net approx £350k. My plan is as follows: - £47k into premium bonds (I currently have £3k) - £40k into my SIPP (limited by current salary) - £40k held in cash, to be invested into my SIPP in tax year 2, potentially up to £52k as my salary rises - Remainder into GIA - All invested in Vanguard index tracking funds I'm 26, working as an Officer in the military, so I have an incredibly low cost of living (subsidised accommodation and no utilities), and a non contributory DB pension plan, so no need to allocate money there, and am able to max out my S&S ISA yearly just with my salary. I know these steps are good, but having the best part of £220k in a GIA, paying CGT on the other end of that makes me a little unhappy, especially if I hold it for multiple decades. I'm aware this is a real champagne problem but do either of you have any recommendations on improvements to my plan and mindset, or are you able to poke any holes in my approach? Should I hold more in cash to later invest into my SIPP? Bed and ISA/ SIPP over time? Spend some of it, even? I know it's an aggressive approach, but I'm sort of an "all or nothing" sort of guy, even with investing as is referenced in my 70+% savings rate, but balance has always been hard for me to find. My goal is to be Financially Independent by 36. I'll likely keep working but I like the security of that idea, and the saltily coined term "F-you money". Whatever you both think, I will deeply ponder over and analyse for many hours. Thank you both for the many episodes of top tier information. I would apologise for the lack of brevity, but I know you love it really. Thanks guys, you're both rockstars! Nick

"Break the cockpit window!" Good Samaritans driving by a private jet that crashed on a highway rushed to help, grabbing shovels, hammers, and whatever they could from their trunks to get the pilot and passengers out safely. Ann Mercogliano spoke with the woman who shot the nail-biting video - her husband was among those who jumped into action. And sentencing day for the Gilgo Beach serial killer. Rex Heurmann admitted to killing eight women, and today the courtroom was packed with victims' family members as the judge let Heurmann have it, calling him disgusting and despicable. Plus, we're learning more about the alleged drone attack threat to target Fight Night at the White House. The five suspects under arrest are thought to be members of a group that calls itself Vanguard of the Old Republic. Authorities say it's an extremist group with anti-government beliefs that started on TikTok. And this cat has quite the story to tell! The 16-year-old feline wandered away from home in Texas and ended up across the country in California. When his owner got a call from a woman 1,700 miles away saying "I got your cat," her jaw hit the floor.

In this episode of Partner Perspectives, a special miniseries within the Look Forward podcast, the conversation explores one of the most foundational yet rapidly evolving forces in modern investing: indexing. Drawing on S&P Global and Vanguard's joint research, Partner Perspectives: Unlocking Potential Ahead, this episode examines how market concentration, changing corporate leadership, and expanding index tools are reshaping the way investors access markets and build portfolios.  Tim Edwards of S&P Dow Jones Indices opens with a historical perspective on U.S. equity concentration—noting that by mid-2025 the 10 largest companies in the S&P 500 accounted for nearly 40% of the index's market capitalization, a level not seen since the mid-1960s. He explains how enthusiasm around AI, technology, and productivity has fueled today's market leaders, while also showing that concentration is not static: Over time, equity markets undergo a constant "changing of the guard," as old leaders fade and new giants rise. His core message is that broad, capitalization-weighted benchmarks remain powerful because they adapt alongside the market rather than trying to predict its future winners.  The episode then shifts to Jim Rowley of Vanguard, who traces how indexing has evolved over the last 50 years—from the first simple S&P 500 index mutual fund to today's far more targeted landscape of sector, size, style, and total-market strategies. Rowley explains how investors increasingly use "passive for active" approaches to build portfolios with precision, while emphasizing that investors should look beyond labels and understand the underlying methodology of any index they own. He also points to direct indexing as the next frontier, offering greater customization for tax-loss harvesting, ESG preferences, and factor tilts.   Chapters:  [00:00] - Introduction to Partner Perspectives and the evolution of indexing  [02:00] - Tim Edwards on concentration in the S&P 500 and why this moment matters  [04:30] - The role of AI, technology, and market optimism in today's top companies  [06:10] - Looking back to 1965: what happened to the prior top 10 giants  [08:00] - How a small number of stocks drive a large share of long-term market growth  [09:55] - The "changing of the guard" and how concentration evolves over time  [11:20] - Does underperformance by today's giants threaten the broader market?  [13:10] - Why broad cap-weighted benchmarks like the S&P 500 remain resilient  [15:20] - Jim Rowley on the launch of the first index mutual fund and why it was revolutionary  [17:10] - How index investing expanded from simple market access to targeted exposures  [18:20] - Using "passive for active" in portfolio construction  [20:00] - Why index methodology matters more than the label on the fund  [21:55] - A small-cap example: how similar index labels can produce very different outcomes  [22:50] - The future of indexing: direct indexing and portfolio customization  [24:20] - Why traditional index funds remain central in a more differentiated market  [25:00] - Key portfolio takeaways for investors and advisors  [26:00] - Final reflections and where to find the full research  This podcast was authored by a cross-section of representatives from S&P Global and in certain circumstances external guest authors. The views expressed are those of the authors and do not necessarily reflect the views or positions of any entities they represent and are not necessarily reflected in the products and services those entities offer. This research is a publication of S&P Global and does not comment on current or future credit ratings or credit rating methodologies. 

In this third episode of our season-long exploration of Quakers and Money, Peterson Toscano and Diana Yañez turn toward one of the largest and most difficult questions of the series: How do Friends live with integrity inside capitalism? Last month, we explored relational finance and asked whether taking responsibility for our money and institutional assets can lead to deeper integrity and more equitable power-sharing. This month, Peterson names the friction many Friends feel: the sense of being trapped in a massive economic system built on extraction, inequity, colonialism, and environmental harm. Through conversations with Lisa Graustein, Nathan Kleban, David Watt, and Traci Hjelt Sullivan, this episode examines the spiritual dissonance between Quaker values and capitalist structures. We hear about stolen land, inherited wealth, paternalism in charitable giving, the legacy of slavery in Quaker history, and the denial made possible by class and racial privilege. Rather than offering easy answers, Peterson and Diana ask what it means to stay on a journey with truth. If capitalism harms people and the planet, how might Friends move beyond individual purity or denial and toward mutual aid, community wealth-building, repair, and solidarity? In This Episode The Dissonance: Peterson reflects on the gap between Quaker faith and a global economy built on extraction and inequity. Capitalism and White Supremacy: Lisa Graustein names capitalism and white supremacy as forces that keep the here and now from becoming the realm of God. Stolen Land and Reparative Responsibility: Lisa shares the story of New England Yearly Meeting selling property after repudiating the Doctrine of Discovery and raises questions about what should happen to profits from land acquired through colonization. From Charity to Right Relationship: Nathan Kleban of Right Sharing of World Resources challenges paternalistic models of giving and asks who the economy is actually for. Quaker Wealth and Enslavement: David Watt, professor of Quaker studies at Haverford College, reminds us that some early Quaker wealth in Philadelphia was tied to Barbados, sugar plantations, and the labor of enslaved people. The Wealth of Not Having Debt: Traci Hjelt Sullivan expands the definition of ancestral wealth, naming the opportunities that come from beginning adult life without student debt. The Inner Capitalist: Diana reminds us that the Quaker belief in “that of God in everyone” also extends to capitalists, and to the parts of ourselves that continue to benefit from extractive systems. Our Guests Lisa Graustein Lisa Graustein is a Quaker educator, activist, and writer whose work often explores money, power, race, and reparative justice. In this episode, she reflects on inherited wealth, stewardship, and the responsibility to repair harm caused through the accumulation of resources. Nathan Kleban Nathan Kleban works with Right Sharing of World Resources, a Quaker organization that supports women-led economic projects in the Global South. Nathan brings a relational and community-centered lens to economics, asking how people get their needs met and how communities express their gifts outside extractive systems. David Watt David Watt is the Douglas and Dorothy Steere Professor of Quaker Studies at Haverford College. In this episode, he offers historical context about Quaker wealth, including the connections between early Philadelphia Friends, Barbados, sugar plantations, and slavery. Traci Hjelt Sullivan Traci Hjelt Sullivan is the executive director of Right Sharing of World Resources. She brings decades of nonprofit leadership and international experience to her work. In this episode, she reflects on truth, denial, race, class, debt, and the spiritual work of recognizing our own responsibility. Resources and Recommendations QuakerSpeak: “What If Wall Street Were Honest?” https://quakerspeak.com/video/what-if-wall-street-were-honest/ North Carolina Quaker Mark Hulbert has tracked investment advisors since the early 1980s. In this QuakerSpeak video, he talks about how his Quaker background and commitment to integrity led him to ask whether Wall Street advisors were telling the truth. Spent https://playspent.org/ Diana recommends Spent, a free browser-based survival game that places players inside the poverty trap. You begin with $1,000 and try to survive for 30 days while making impossible choices: pay rent, fix the car, buy medicine, or keep the lights on. It offers one way to better understand how expensive it can be to be poor in the current economic system. Caliban and the Witch by Silvia Federici https://pmpress.org/index.php?l=product_detail&p=1575 Diana references Federici's work while discussing the relationship between capitalism, labor control, gendered violence, and colonialism. The Dawn of Everything by David Graeber and David Wengrow https://us.macmillan.com/books/9780374157357/thedawnofeverything/ Diana also points to this book while reflecting on European colonialism, the construction of human hierarchy, and the ideas that shaped the modern world. Organizations Mentioned Right Sharing of World Resources: https://rswr.org/ A Quaker organization that supports women's self-help groups in the Global South through seed grants and relationship-based partnerships. Earth Quaker Action Team: https://eqat.org/ A grassroots Quaker organization that uses nonviolent direct action to challenge systems of economic and environmental injustice. New England Yearly Meeting: https://neym.org/ A regional body of the Religious Society of Friends is mentioned in Lisa Graustein's story about land, reparative responsibility, and the Doctrine of Discovery. Haverford College / David Harrington Watt: https://www.haverford.edu/users/dhwatt David Watt teaches Quaker studies at Haverford College and appears in this episode to discuss Quaker history, wealth, slavery, and capitalism. Listener Voicemails Thank you to John Choe for sharing his reflections and concerns about Quakers, financial discernment, and the role of institutions like Friends Fiduciary. Thank you also to Richard Tindall for his faithful reminder to drink a glass of water first thing in the morning. As summer begins in the Northern Hemisphere, it is a timely invitation to stay hydrated and care for our bodies. Question for Listeners How do you navigate the tension between Quaker values and capitalism? Where do you feel dissonance between your financial life and your spiritual commitments? Share your thoughts: · Voicemail: Call 317-QUAKERS, 317-782-5377 · Email: podcast@friendsjournal.org · Social Media: Respond to us on Facebook, Instagram, or TikTok Sponsors Friends Fiduciary https://friendsfiduciary.org/ Friends Fiduciary unites Quaker values with expert investing. They serve Friends meetings, churches, schools, and organizations through ethical portfolios, shareholder advocacy, and a commitment to justice and sustainability. American Friends Service Committee https://afsc.org/ The American Friends Service Committee is a Quaker organization working with communities worldwide to challenge injustice, meet urgent community needs, and build conditions for lasting peace. AFSC and the Vanguard S.O.S. / Never Vanguard campaign AFSC announcement: https://afsc.org/newsroom/afsc-joins-vanguard-sos-campaign-fossil-fuel-divestment Never Vanguard pledge: https://eqat.org/never-vanguard/ AFSC has joined with Earth Quaker Action Team in the Vanguard S.O.S. campaign, asking Friends to boycott and divest from Vanguard until it stops funding fossil fuel projects and takes climate justice into account. Disclaimers Quakers Today is a project of Friends Publishing Corporation. This season is sponsored by Friends Fiduciary and the American Friends Service Committee. This podcast is for informational and educational purposes only and does not constitute investment, legal, or tax advice. Listening does not create an advisory relationship. Friends Fiduciary is a sponsor of this podcast. Sponsorship does not constitute an endorsement, and Quakers Today does not receive compensation based on listener investment decisions. Diana Gisel Yañez is an Investment Advisor Representative of Natural Investments PBLLC. Natural Investments is an independent Registered Investment Advisor. Quakers Today and Friends Journal are not a registered entity and are not an affiliate or subsidiary of Natural Investments. See the Natural Investments Disclosures and Disclaimers and Form CRS: https://naturalinvestments.com/disclosures-disclaimers/

In this premiere episode of Partner Perspectives, a special miniseries within the Look Forward podcast, host Molly Mintz examines how private markets are reshaping capital formation, portfolio construction, and long-term investment strategy. Drawing on S&P Global and Vanguard's joint research, Partner Perspectives: Unlocking Potential Ahead, this conversation explores why companies are staying private longer, how private equity has expanded in scale and influence, and what today's higher-rate environment means for returns and risk.  Vanguard's Bill Stout outlines an optimistic but measured view on private equity—emphasizing that disciplined underwriting, operational execution, diversification, and manager selection matter more than ever as the era of easy exits fades.  S&P Global's Evan Gunter and Ilja Hauerhof discuss private credit's rapid expansion, the rising trend of manager concentration, and how asset-based finance has emerged as a major growth engine. In addition, they highlight risks that are shaping this market evolution—including liquidity constraints and structural complexity—and explain why greater transparency, standardized reporting, and data-driven insights will be essential to unlocking the next phase of private market growth.   Chapters:  [00:00] - Introduction to Partner Perspectives and the future of private markets  [02:55] - Bill Stout on how capital formation has shifted from public to private markets  [05:15] - The biggest risks facing private equity in a higher-rate, slower-exit environment  [07:25] - Public vs. private equity performance, illiquidity premiums, and return dispersion  [08:50] - Why Vanguard's outlook for private equity is optimistic but measured   [10:55] - The case for manager selection and diversification across strategies, vintages, and regions  [13:25] - What's next: secondaries, democratized access, and fee compression  [16:15] - Transition to private credit with Evan Gunter and Ilja Hauerhof  [17:45] - How private credit evolved after the GFC and why private companies are getting bigger  [20:35] - Concentration risk and the growing dominance of the top five credit managers  [22:45] - Asset-based finance, fund finance, and infrastructure as the next frontier  [27:35] - Key risks in private credit: liquidity, transparency, and complexity  [32:35] - Why standardized data and clearer reporting are critical for future growth  [35:15] - Final takeaways and where to find more research from S&P Global and Vanguard  This podcast was authored by a cross-section of representatives from S&P Global and in certain circumstances external guest authors. The views expressed are those of the authors and do not necessarily reflect the views or positions of any entities they represent and are not necessarily reflected in the products and services those entities offer. This research is a publication of S&P Global and does not comment on current or future credit ratings or credit rating methodologies. 

Don takes listeners on a journey through nearly four decades of investment advice, explaining how his thinking evolved from recommending active mutual funds in the 1980s to embracing index funds, factor investing, and eventually ETFs. Along the way, he and Tom discuss Vanguard's rise, Don's early relationship with Paul Merriman, the emergence of Dimensional Fund Advisors and Avantis, and why their recommendations have changed over time. They also address listener skepticism about fund recommendations, compare Avantis and Vanguard products, answer a tax-efficient portfolio rebalancing question from a retired couple, and debunk a marketing pitch for “layered income portfolios.”0:08 Don shares the story of his early days giving investment advice from Leadville, Colorado2:56 The active management era and why great fund managers were once considered essential3:52 Vanguard's early growth and the gradual acceptance of index investing5:38 Don discusses Vanguard sponsoring his radio show and maintaining disclosure transparency6:55 Paul Merriman introduces factor investing and Fama-French research9:10 Early Dimensional Fund Advisors portfolios and advisor-only access10:56 The rise of ETFs, Dimensional's hesitation, and Avantis' origins11:23 The 2010 ETF flash crash and why Tom and Don were initially cautious13:29 Why factor investing remains compelling despite uncertain future returns14:20 Addressing listener skepticism about Avantis recommendations16:07 Comparing AVUV and Vanguard VBR small-cap value funds17:44 Comparing AVGE and Vanguard VT global equity funds19:15 Clarifying compensation, conflicts of interest, and transparency21:27 Listener Anton asks about tax-efficient portfolio rebalancing in retirement26:03 Why holding bonds inside IRAs can improve tax efficiency27:23 Discussion of Roth conversion strategies and tax considerations30:20 Listener asks about “Layered Income Portfolios”31:05 Why income portfolio marketing pitches are often more sales than substanceQuestions? Comments? Click!

The Texas Republican Party has involved from a corporate libertarian institution to one in which free market capitalism and evangelical Christianity are united in authoritarianism. Political scientist Clyde Barrow warns that Texan Christofascism serves as the rightwing blueprint for the rest of the United States in the coming years. Gregory Albo and Stephen Maher, eds. Socialist Register 2026: Late-Stage Capitalism? Accumulation in the Ruins Monthly Review Press, 2025 Photo by Pete Alexopoulos on Unsplash The post Texas: Vanguard of the Far Right appeared first on KPFA.

In this episode of Run the Numbers, CJ sits down with Dan Bettes, CFO of SoundCloud, at the New York Stock Exchange. Dan breaks down how SoundCloud operates as a two-sided music marketplace, how he thinks about liquidity between fans and creators, and why great finance leaders need to make forecasting feel owned by the business—SPONSORS:Aleph is a modern FP&A platform built for teams that want more than another planning tool. By connecting your ERP, CRM, and other systems into one trusted data layer with AI workflows, Aleph helps you move faster with real-time insights. Get a personalized demo at https://www.getaleph.com/runRightRev is an automated revenue recognition platform that lets your product team ship new pricing without asking finance for permission, and your sales team close deals without creating downstream chaos. Check out their free tool at calculator.rightrev.com It scores your rev rec process, shows what's exposing you to risk, and tells you exactly where to focus before it bites you in the rear end. Check it out at https://calculator.rightrev.comRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjEY has been part of Silicon Valley since it was just a valley, helping the most successful names in tech go from startup to exit to megacap. With teams across strategy, tax, audit, and transactions, EY helps you get your financials right early, long before your investors start asking for it. You build the next big thing, and EY will help you build it right. Learn more at https://www.ey.com/techstartupsSpendHound cuts your SaaS and AI spend by up to 30% using real pricing benchmarks across 10,000 vendors, so you always know what fair pricing looks like before your next renewal. Rated #1 on G2 in SaaS spend management, it's free forever for teams up to 1,000 employees. Sign up by June 12th and get $500 just for getting started. Go to https://www.spendhound.com/cjBrex is an intelligent finance platform with AI-powered agents that capture expenses automatically, enforce policy before the spend happens, and close your books in minutes instead of weeks. 35,000+ companies like OpenAI, Coinbase, Anthropic, and DoorDash already run on Brex. It's time to get Brex AF. Learn more at https://www.brex.com/metrics—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/danielbettes/Company: https://soundcloud.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 Preview and Intro2:17 First stock: a Vanguard index fund3:13 Most memorable IPO: Groupon4:54 Benefits of going public have changed5:47 SoundCloud and the music industry7:21 Three eras: physical, streaming, creator platform8:49 Streaming unbundled the album10:03 Artists don't need labels anymore11:40 Sponsors — Aleph | RightRev | Rillet15:00 SoundCloud's two-sided business model16:23 Touring replaced the album17:17 First metric every morning: net adds18:31 DAU vs. MAU: it's a funnel19:14 Viral moments and exogenous pops20:10 LTV and the subscription funnel21:38 Sponsors — EY | SpendHound | Brex24:35 Tops-down vs. bottoms-up: reconcile both26:21 Revenue is an output27:45 Handling forecast deviation29:24 How often to reforecast30:23 The final boss: indirect cash flow statement33:09 Cash vs. EBITDA fluency35:04 Plain English and the power of reps36:52 Tailor the message to the audience37:45 Lightning round37:45 Screwed up: miscounted corn at a banquet38:41 Lean into discomfort39:55 Craziest expense: a post-flight massage40:17 Credits

Another classic creator of indie comics joins us this week as the one and only Billy Tucci, creator of the 'Shi', takes a moment away from the floor of Heroes Con to talk about his work, character and a new omnibus. Its a fun (and funny) chat that will leave you wanting more, as will the great comics recommendations we have and a fun Wizard quiz about what they considered to be the greatest superhero costumes OF ALL TIME in 1997. Its another don't miss dose of indie comics and then some! Great stuff to check out: Billy Tucci, She, She: Senryaku, Sgt Rock, Vanguard, John Wagner, Gods and Monsters of Headgrave, Zinezilla, Super Kaiju Rock and Roll Funtime Derby Go, American Nature #4, M1: Monster Racing League, Slugboy, Paul Kortjohn, Black Ink Comix

In this episode of the Excess Returns Weekly Wrap, Jack Forehand and Matt Zeigler break down two major conversations with Mike Green and Vanguard's Joe Davis. The discussion connects passive investing flows, mega-cap concentration, AI-driven productivity, fiscal deficits, demographics, and the possibility that markets are being reshaped by forces most investors do not fully understand.Topics covered:* Why passive investing can act like a fire hose into the largest stocks* How market-cap weighting can amplify flows into mega-cap, high-volatility companies* The connection between passive flows, factor investing, size, beta, and volatility* Why Mike Green sees passive flow dynamics changing market behavior* How buy-the-dip behavior, ETF flows, CTAs, and volatility control funds can reinforce rallies* Vanguard's megatrends framework for technology, demographics, deficits, and globalization* Why long-term structural trends can affect short-term growth, inflation, and markets* Joe Davis's case that AI could be more transformative than the personal computer* The risk that AI only automates work rather than augmenting workers and creating new industries* Why disappointing AI adoption could bring fiscal deficits, inflation pressure, and higher Treasury yields back into focusTimestamps:00:00 Passive flows, AI, and the biggest forces shaping markets03:38 Mike Green on passive investing as a market liquidity fire hose08:26 The passive flow premium and why large-cap stocks keep winning12:00 Joe Davis on technology, demographics, deficits, and globalization16:20 Mike Green on whether passive flows can reverse20:46 Buy-the-dip behavior, ETF inflows, and market volatility21:25 Joe Davis on AI, deficits, and the future of U.S. growth25:04 The 20% probability of a 9% 10-year Treasury yield29:00 Why AI could be more powerful than the personal computer34:10 Final thoughts on Mike Green, Joe Davis, and the Excess Returns network

Join us in Clean Biz Network! https://www.cleanbiznetwork.app/Get your Cleaning Business Automated! Visit https://cleanbizuniversity.com/automa...Join this channel to get access to perks:   / @ajsimmonsonline  Schedule a 1 on 1 Consultation: https://calendly.com/ajsimmonsLet my lead generation company to set bid appointments for you! Click here https://www.cleanbizcrm.com/leadgener...Follow: @AjSimmonsOnline on Instagram   / ajsimmonsonline  Need Business Insurance? Click this link https://nextinsurance.sjv.io/Ea23K9Need Business Credit? Apply at this linkhttps://americanexpress.com/en-us/ref...Thank you for watching, subscribing, liking, sharing, and commenting!!!!

Kelly Anne Pipe is Head of Developer Experience at Vanguard, and Nicole Scribner is a Director in the firm's Chief Technology Office focused on engineering enablement and advancement.In this session from DX Annual, Kelly Anne and Nicole share how Vanguard is expanding its AI strategy beyond software engineering to the entire product development lifecycle. While the company initially focused on tools like GitHub Copilot for engineers, they found that faster coding alone did not significantly improve delivery speed. Product managers, designers, QA teams, and organizational processes were still operating at a different pace.To address this challenge, Vanguard developed a product team maturity model built around three stages: Augmented, Accelerated, and Autonomized. The framework spans six dimensions, from AI-powered delivery and AI-ready codebases to team autonomy, operations, and responsible AI.Kelly Anne and Nicole explain how Vanguard is applying the model across more than 800 product teams, the behaviors they believe will enable faster delivery, and the lessons they have learned about measurement, organizational change, dependencies, and scaling AI across the product development lifecycle.In this episode, we cover:(00:00) Intro(02:16) The state of AI one year ago at Vanguard(02:54) The engineering bubble(05:05) Building an AI maturity model for 800 product teams(08:24) Dimension 1: AI-powered product delivery(10:00) Dimension 2: AI-ready codebase(12:20) Dimension 3: Autonomous agent utilization (13:00) Dimension 4: AI-augmented operations(14:00) Dimension 5: Team autonomy and enablement(16:11) Dimension 6: Responsible AI(18:15) The people problem: role evolution (20:00) The measurement problem (22:55) Lessons learned from rolling out the maturity model (26:46) What's ahead (30:10) Q&A #1: Getting your codebase ready for AI(32:22) Q&A #2: Audit trails and responsible AI(34:16) Q&A #3: Vanguard's maturity model progress(36:15) Q&A #4: Measuring cycle time across 800 teamsReferenced:• Vanguard• Jennifer St Pierre - Dell Technologies | LinkedIn• Mercari

Muy buenos días, iniciamos la semana con un alivio para el estrecho de Ormuz, con el acuerdo -provisional- entre Estados Unidos e Irán, también con el encuentro más importante de la semana y no es en la cancha de ningún estadio. Hitos de SpaceX tras su debut en bolsa, en Argentina estrenan la primera Fibra, Vanguard rompe el dominio de BlackRock en un segmento y Trump festeja sus 80 años… con peleas.En colaboración con Arca Continental | Cien años de visión: conoce la estrategia de economía circular de Arca Continental aquí. https://www.bloomberglinea.com/brandedcontent/cien-anos-de-vision-como-arca-continental-convirtio-la-economia-circular-en-una-ventaja-de-negocio/

Ambition can open doors, but your principles determine where you go from there. In today's episode, Ryan talks with entrepreneur and investor Codie Sanchez about how the four Stoic virtues of courage, discipline, justice, and wisdom can serve as a guide for building a successful career, leading well, and creating a life you actually want. They discuss why most professional risks are less dangerous than they seem, how to stop undervaluing your work, and what it means to pursue success without sacrificing your values, relationships, or reputation. Codie Sanchez is an entrepreneur, investor, and founder of Contrarian Thinking, where she teaches people how to build wealth through business ownership. After starting her career in journalism and later working in finance at firms like Goldman Sachs and Vanguard, Codie went on to buy, build, and invest in Main Street businesses. She is also the author of Main Street Millionaire and host of the BigDeal Podcast. Follow Codie Sanchez on Instagram @codiesanchez, on TikTok @Codie_Sanchez, and on YouTube @CodieSanchezCTCheck out Ryan's episode on BigDeal by Codie Sanchez

Support todays Sponsor - Need help hitting your weightloss goals? hims.com/thatufoAndy is joined by investigative filmmaker and journalist Jeremy Corbell for a wide-ranging conversation on the latest UAP developments, government video releases, whistleblowers, Congress, David Grusch, Sleeping Dog, and what may still be hidden from the public.Jeremy discusses the recent UAP video drops, why he says the footage released so far is only a fraction of what exists, how he and George Knapp have helped point Congress toward specific files, and why he believes the public has still not seen the strongest evidence.They also get into the whistleblower process, the pressure faced by those coming forward, Matthew Brown, Dylan Borland, Vanguard, Capitol Hill, media coverage, and why Corbell believes public pressure remains vital to moving this issue forward.A serious and at times intense conversation about UAP transparency, accountability, and the fight to gethttps://www.sleepingdogmovie.com/

Don answers a diverse collection of listener questions covering Roth conversions, indexed annuities, emergency fund management, TSP contributions, inherited money, and portfolio construction. He delivers a forceful warning about indexed annuities and commission-driven insurance sales after one listener considers using an annuity bonus to offset Roth conversion taxes. Other questions explore whether short-term bond funds belong inside a Roth IRA, how much attention investors should pay to taxes, investing a potential $200,000 windfall, Roth versus traditional TSP contributions, and Paul Merriman's popular Two-Fund for Life strategy. Along the way, Don shares his appreciation for readers of The Line Uncrossed and reminds listeners how to submit questions through the new Talking Real Money website.0:05 Summer question slowdown, Friday Q&A format, and submitting questions through the new website1:41 Listener asks about using an indexed annuity bonus to help fund a Roth conversion3:14 Why indexed annuities are often misleading and how insurance commissions create conflicts5:01 The risks of moving an entire retirement portfolio to cash at retirement6:30 Why a comprehensive fiduciary financial plan may be essential for this listener8:16 Question about holding VFSTX as part of an emergency fund strategy10:36 Why taxes are often a minor concern compared with investment allocation11:03 Why a short-term bond fund may not belong inside a 42-year-old's Roth IRA12:17 Balancing growth, risk tolerance, and liquidity needs13:22 TSP lifecycle funds, Roth contributions, and planning for a possible $200,000 windfall15:03 Separating travel money from long-term investment assets16:09 Paul Merriman's Two-Fund for Life strategy17:38 The role of small-cap value funds alongside target-date funds18:13 Fama-French factor investing and the tradeoff between simplicity and optimization19:15 Closing thoughts on listener questions and participation20:26 What makes a fiduciary advisor different from a commissioned salesperson21:13 Update on The Line Uncrossed and request for listener reviewsQuestions? Comments? Click!

Every word you choose either builds your credibility or chips away at it. In this episode, Jaime sits down with leadership and executive coach Marissa McCourry to unpack the three buckets of leader language and the surprisingly common habits that are quietly undermining how others perceive you.Whether you lead a team of two or two hundred, this conversation will make you rethink the way you ask questions, structure your sentences, and deliver your ideas. You will walk away with concrete, immediately applicable tools to communicate with more confidence, more gravitas, and more impact.If you have ever caught yourself saying "does that make sense?" or ending a statement like it was a question, this episode is for you.What You Will Learn:How the questions you ask either invite collaboration or shut it down. Why "does that make sense" is self-doubt on full display and what to say instead. The sentence structures that quietly signal insecurity and how to eliminate them. Why period, pause, power is the simplest shift you can make to increase your leadership presence. What uptalk is, why it undermines your gravitas, and how to stop doing it. Why plain talk is not the same as unprofessional talk and how the best leaders use both.About Marissa McCourry:Marissa McCourry helps leaders navigate challenge and change, sharpen their emotional intelligence, and expand their leadership capacity. Her coaching is marked by a blend of compassion and candor, offering plain talk, grounded insight, and practical tools that drive lasting behavior change. Clients consistently describe her approach as clarifying, confidence-building, pragmatic, and immediately applicable.With over 25 years in HR, talent, and executive development, Marissa has coached senior executives across industries to increase their impact, strengthen their teams, and thrive in complex environments. She brings a cross-sector perspective having held leadership roles at global companies including Vanguard and Visa, consulted for Fortune 500 firms, and served as a senior leader at a top-ranked executive education institution.Connect with Marissa:icf-coaching.org/mfluencelinkedin.com/in/marissamccourrymarissa.mccourry@gmail.com

In this episode, John McAdams sits down with Tyler Grethen, Marketing Director at Weatherby, for a comprehensive look at one of America's most storied firearm manufacturers. Tyler shares the fascinating history of Roy Weatherby — from door-to-door insurance salesman and garage tinkerer to creator of some of the fastest production cartridges ever made. They discuss the move from California to Wyoming, the legendary Mark V action (including the nine-lug, six-lug, and new short actions), the extremely popular Vanguard line, the innovative 307 series built on a Remington 700 footprint, as well as Weatherby's cartridge lineup and their loaded ammunition offerings. Sponsor: Go to BigGameHuntingPodcast.com/ebook and sign up for my free e-book on the best hunting calibers at to receive the entertaining and informative emails I send out about hunting, firearms, and ballistics every weekday. Please hit that "SUBSCRIBE" or "FOLLOW" button in your podcast app to receive future episodes automatically! Resources Check out the Weatherby web site, follow them on YouTube, and subscribe to their podcast.

This week we wrangled a few guests to talk about a few games we've been streaming! For the first bloc, check out Nurvuss as he sits down with Brian to talk Vanguard Bandits (1998). In the second bloc, Kryo joins Alice and Brian to discuss their ongoing Iron Harvest streams every Tuesday on our twitch! Content warnings for this episode: Mind control, war and violence, misogyny, and homophobia. On the Shoulders of Giants is hosted by Alice (she/her), Brian (he/they), and Niko (she/her). We have an obligation-free tip jar on Ko-Fi. Join OSG's Discord here. We stream on Twitch! You can find us on Bluesky @osgpod, YouTube @osg_pod, and Tumblr @osg-pod as well. Visit our website at osgpod.com and send questions/feedback to questions@osgpod.com. Our intro song is “She Loves Your Fusion” by PartyFactor. Other royalty-free sound effects also sourced from Pixabay. Other CC music used includes Hope for Tomorrow by Tokyo Music Walker, Creative Commons — Attribution 3.0 Unported — CC BY 3.0. If you've read this far, please consider leaving us a 5-star review on your podcatcher of choice. It really means a lot!

There's $326 billion sitting in charitable accounts that face no legal requirement to ever pay out a cent — and the 2026 IPO wave is about to add hundreds of thousands more. Donor-advised funds are now 11 of the top 20 charities in the US by contributions, and the same vehicle that could fund the climate transition has spent two decades quietly funding the movement against it.In this episode, Susan Su reveals how DAFs became the fastest-growing force in American philanthropy, why that should bother anyone who cares about climate, and what donors can actually do about it.We cover:How financialization turned a sleepy 1931 community-foundation tool into the biggest charity engine in the country, once Fidelity, Vanguard, and Schwab got involved in the 1990sWhy DAFs are a regulatory free pass — immediate tax deduction, no payout requirement, near-total anonymity, and a clean way to erase capital gains before an IPOThe real cost to everyone else: the Institute for Policy Studies estimate that every $1 in a DAF carries a $0.74 taxpayer subsidyWhat's hiding behind the headline 20% payout rate, and why the median account tells a different storyHow DonorsTrust and Donors Capital Fund moved $479 million in untraceable money into the anti-climate movement — and how Fidelity, Schwab, and Vanguard routed $171 million to the groups behind Project 2025Why the IPO wave won't just mint a few whales but half a million minnows — the median Fidelity DAF holds just $23,500, which makes this everyone's problemFour ways DAF capital is uniquely suited to climate: catalytic first-loss equity, concessionary debt for first-of-a-kind projects, pooled funds, and funding the public goods markets ignoreOnly about 3% of US charitable giving goes to all environmental causes combined. Religious causes got 28% in 2020. The tool takes no sides — but right now, only one side is using it at scale.Read the full essay at climatemoney.substack.com.Warning: this could radicalize you.

Overweighted S&P 500. Accidental landlords. Early retirement in Japan.

Don and Tom examine the coming wave of blockbuster IPOs, including rumored offerings from SpaceX, Anthropic, and OpenAI, and explain why investor excitement often leads to disappointing results. Drawing on research from Dimensional Fund Advisors and examples such as Uber, Facebook, and Groupon, they discuss the historical underperformance of IPOs and the dangers of buying into hype. They then answer a listener's question about assets-under-management fees, explaining the broader planning, tax, behavioral, and retirement services provided by fiduciary advisors beyond portfolio construction. The episode concludes with a look at the growing number of highly speculative ETFs, including UFO-themed and meme-stock funds, and a warning that investors should focus on diversification and discipline rather than chasing the latest financial product.0:05 Summer IPO mania: SpaceX, Anthropic, OpenAI, and the hype machine1:24 SpaceX's massive valuation and why investors are excited3:05 Anthropic and OpenAI join the trillion-dollar IPO conversation4:29 Comparing today's IPO wave to the dot-com boom5:09 Why hot IPOs are usually a bad investment6:27 Dimensional research on IPO underperformance and liquidity concerns7:51 Uber, Facebook, Groupon, and other IPO cautionary tales8:50 Why even great companies can be poor investments at the wrong price9:45 Why disciplined firms delay adding IPOs to portfolios10:59 How to submit questions to Talking Real Money13:17 Listener question: Is a 1% AUM fee really worth it?15:20 What advisors actually do beyond portfolio management16:44 Vanguard's research on advisor value17:12 Why large portfolios shouldn't pay a flat 1% on all assets18:24 The emotional and behavioral benefits of professional advice20:29 How advisors help investors stay diversified21:45 The explosion of bizarre new ETFs22:49 UFO ETFs, meme-stock funds, and speculative product launches25:05 Why investors should be skeptical of niche ETFs and high feesQuestions? Comments? Click!

What would you do with an uninterrupted four-hour block of quiet time? Nate shares how a family flight to Hawaii turned into a deep dive into the wartime history of Vanguard and its legendary founder, Jack Bogle. Nate highlights several foundational investing concepts that physician families may find helpful when evaluating long-term financial planning decisions. Nate also dives into the fascinating history behind why Vanguard was named after a British battleship and how Jack Bogle walked away from billions in personal wealth to keep profits in the pockets of everyday investors. He explains why Vanguard became the default many investors and how buying a piece of the entire market can make for a smoother ride compared to picking individual stocks. We also learn about "The Bogle Effect" and why you may not be at a financial disadvantage if your employer 403(b) or retirement account is housed at Fidelity or Schwab instead of Vanguard. Are you ready to turn worries about taxes and investing into a plan for college and retirement? If you're evaluating your options and want to learn more, visit physicianfamily.com and click 'Get Started' or you can ask a question of your own by emailing podcast@physicianfamily.com. See marketing disclosures at physicianfamily.com/disclosures

AI could become the next general purpose technology, reshaping economic growth, inflation, interest rates and portfolio construction. Vanguard Global Chief Economist Joe Davis joins Excess Returns to explain why AI, demographics, fiscal deficits and globalization may define the next decade for investors, and why the biggest market winners may eventually come from outside the technology sector.Coming into View: How AI and Other Megatrends Will Shape Your Investmentshttps://amzn.to/4v8L7OfVanguard Megatrends Research Hubhttps://explore.vanguard.com/megatrends.htmlTopics Covered:AI as a potential general purpose technologyWhy long-term megatrends can affect short-term market returnsThe four forces shaping the next decade: technology, demographics, deficits and globalizationWhy Vanguard believes AI could lift U.S. growth above consensusHow AI could offset aging demographics and rising debtWhy great technology cycles often include major stock market drawdownsThe difference between AI automation, augmentation and new industry creationWhy the next AI winners may be in healthcare, financial services and other service industriesThe risk that AI disappoints and fiscal deficits dominate the outlookHow tariffs, oil prices and AI investment interact in the macro outlookWhat AI could mean for 60/40 portfolios, value stocks, fixed income and international marketsJoe Davis' lesson for average investors: the power of compoundingTimestamps:00:00 Why every great technology eventually faces a market drawdown04:28 The four megatrends shaping the economy08:56 How megatrends explain short-term S&P 500 moves13:22 Why AI may be in the 1996 or 1997 stage18:29 Where the next AI winners could emerge21:44 AI, fiscal deficits and the danger of kicking the can26:17 Why 2% growth and 2% inflation may be unlikely30:31 How to tell if AI augmentation is really working33:19 AI, globalization and which countries could benefit38:14 Why investors need a multi-factor macro scorecard41:23 What AI means for the 60/40 portfolio44:12 Joe Davis on investing, compounding and Vanguard's megatrends research

Don and Tom question whether the investment industry—and increasingly Vanguard—keeps creating new products simply to stay relevant rather than solve real investor problems. They critique Vanguard's new Target Retirement Lifetime Income Fund, which combines a target-date fund with an annuity, arguing that it sacrifices liquidity, introduces inflation risk, and obscures costs. They also take aim at Vanguard's new Active/Passive Model Portfolio Series, suggesting it adds unnecessary complexity and market-timing assumptions to what should be a straightforward indexing approach. Listener questions cover the risks of holding 72% of retirement assets in an ESOP and whether a military family should replace a simple Schwab index-fund portfolio for their two-year-old daughter with AVGE. The episode closes with a plug for The Line Uncrossed and a discussion of the real-life Civil War experiences that inspired the novel.0:12 Do investors really need new products and new ideas?2:11 Vanguard's Target Retirement Lifetime Income Fund and annuities in target-date funds4:29 Liquidity, inflation risk, and the tradeoffs of guaranteed retirement income7:44 Why immediate annuities often take years just to return your own principal9:16 Morningstar's skepticism of guaranteed-income retirement products10:46 Vanguard's new Dynamic Active Passive Model Portfolio Series12:42 Are active/passive hybrid portfolios solving a real problem?13:38 Has Vanguard lost its indexing compass?15:30 New Talking Real Money website features and submitting listener questions16:12 ESOP question: 72% of retirement assets tied to employer stock17:59 The dangers of concentrated company-stock positions21:29 Understanding ESOP returns versus traditional investments24:09 Why diversification matters more than past ESOP performance26:49 Using GI Bill benefits, a 529 plan, and a UTMA to fund a child's future28:27 AVGE versus a simple total-market index portfolio for a young child29:42 Why simplicity may be good enough for long-term investing success30:35 Discussion of The Line Uncrossed and its Civil War inspiration31:41 John B. Anderson, Andersonville Prison, and the history behind the bookQuestions? Comments? Click!

We all knew her as the lovable Chloe Sullivan on Smallville, but behind the scenes, Allison Mack was hiding a deeply disturbing secret. In this episode of Five's a Crowd, we dive deep into the sick reality of the NXIVM sex cult and the sinister figurehead, Keith Raniere. From executive success seminars to the terrifying dark underbelly of DOS, blackmail, and human branding, we break down how a beloved CW sweetheart became a master enforcer in one of the most shocking true-crime stories in Hollywood history.Thank you for being part of this crowd!You've got burning questions, we've got answers! Call or Text us for the worst advice imaginable, and we may feature it on an upcoming podcast! ** 801-513-3373 **Reddit- Our Subreddit: https://www.reddit.com/r/FivesACrowd- Our Account: https://www.reddit.com/user/FivesACrowdPodcastFollow Our Personal AccountsAustin - https://allmylinks.com/austinspomerCam - https://www.instagram.com/effinburch/Chris - https://www.instagram.com/thechrishummel/Tony - https://www.instagram.com/theonlytonyc/Zach - https://www.instagram.com/zvanbeekum/00:00 - Start!00:05 - A dark opening joke to set the mood00:42 - Smallville high school crushes04:00 - From Hollywood actress to federal court09:09 - Meet Keith Raniere and the "Vanguard" illusion15:29 - How NXIVM masqueraded as business coaching24:33 - DOS: The terrifying secret inner circle25:19 - Blackmail and the sinister collateral system27:17 - The horrifying branding ceremonies34:36 - Allison Mack's role as a top Cult Lieutenant45:15 - Was Mack a victim or a perpetrator?47:29 - FBI arrests and federal indictments52:12 - A shockingly short prison sentence57:35 - Marrying a former neo-Nazi and life after prison01:01:48 - Amway, MLM red flags, and pyramid schemes01:05:48 - One last terrible joke to lighten the moodHashtags#Podcast #NXIVM #AllisonMack #TrueCrime #Cults #Smallville #FivesACrowd #Podcast #HollywoodScandalsP.O. Box**Please no packages, letters only**Five's A Crowd Podcast1123 N Fairfield Rd #1373 Layton, UT 84041

Andy discusses the various areas of consideration and analysis that go into deciding whether Roth conversions might potentially be of value. Furthermore, he explains why it's impossible to actually quantify how much tax savings, if any, Roth conversions might potentially create. And what to consider when figuring out how much to convert in any given yearLinks in this episode:Vanguard's "Break Even Tax Rate" Roth conversion analysis white paper - hereTenon Financial's June 2026 Newsletter/blog - Roth conversion analysis: more than meets the eyeTenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.comTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

Artificial intelligence may be the most transformative technology in decades, but only if it moves beyond automation. Recorded live at Vanguard’s unlimITed Technology Conference, Peter High sits down with three Vanguard leaders: Joe Davis, Global Chief Economist; Nitin Tandon, Global Chief Information Officer; and Joanna Rotenberg, Managing Director of Personal Wealth. Together, they explore how AI is reshaping economic growth, financial services, workforce development, and technology strategy. The discussion examines why Vanguard believes AI’s greatest potential lies in augmentation and entirely new products and services, not simply cost reduction. The leaders also share how years of cloud modernization, data transformation, product operating models, and enterprise-wide AI enablement have positioned Vanguard to accelerate innovation while maintaining trust. Key topics include AI productivity, economic resilience, digital advice, modernization, and responsible AI adoption. This episode is presented by Celonis — Give AI the context it needs. Learn more at celonis.com  

Don and Tom tackle a Wall Street Journal financial decision-making quiz that explores how to prioritize competing goals such as retirement savings, high-interest debt, mortgages, and student loans. The discussion highlights the importance of employer matching contributions, the damaging impact of credit card debt, and the reality that many financial decisions depend on individual circumstances and risk tolerance. They then answer listener questions about retirement portfolio allocation, Fisher Investments' sales tactics and fees, stock ownership concentration among wealthy Americans, and whether a federal retiree should consolidate TSP assets into a Vanguard IRA. The episode emphasizes building a financial plan before making allocation changes, avoiding market predictions, and simplifying finances where possible.0:00 Wall Street Journal financial decision-making quiz begins1:23 Prioritizing 401(k) matches versus high-interest debt4:31 When to pay down credit cards instead of investing more5:20 Borrowing from a 401(k) to eliminate 22% credit card debt6:07 Mortgage payoff versus other debt reduction strategies7:55 Mortgage prepayment versus additional retirement savings9:35 Building a hierarchy for financial priorities11:07 Listener Bob asks about retirement readiness and portfolio allocation13:02 Fisher Investments' fees, sales tactics, and active management claims16:15 Why retirement planning should come before allocation decisions19:40 Stock ownership concentration among the wealthiest Americans22:03 Why markets are not a zero-sum game23:51 Will retiring Baby Boomers hurt stock prices?25:52 Listener asks about consolidating TSP and Vanguard retirement accounts29:18 Comparing Vanguard and TSP target-date fund allocations31:57 Benefits of simplifying and consolidating retirement accounts35:06 Don discusses sales and distribution of The Line UncrossedQuestions? Comments? Click!

Most DIY investors spend their energy optimizing investments. The wealthiest investors optimize systems. According to Vanguard, a great advisor can add roughly 3% to your portfolio -- not by picking better stocks, but by keeping you from wrecking what you already have and by making the boring structural decisions most people skip. Joe and OG walk through the return boosters that actually move the needle, none of which involve a single exotic investment. OG and Anna follow up with the retirement withdrawal sequence that turns a good tax strategy into a great one.What You'll Walk Away WithWhy staying invested is the single highest-return move available to most investors -- and the Wall Street Journal archive experiment that proves it better than any chartHow news addiction creates the three portfolio killers: panic selling, market timing, and the constant feeling that today is the day to make a moveWhy your investment policy statement is a shock absorber between your emotions and your account -- and why advisors often beat DIY investors not by picking better funds but by being harder to reach on bad daysAsset location: the quiet return booster that moves money into the right tax shelter without changing a single investmentWhy tax loss harvesting is widely marketed to the wrong people -- and who actually has a strong use case for itSocial Security timing as a portfolio decision: why "I don't have to decide today" is sometimes the most financially sophisticated answer availableThe sequence of return risk trap that turns retirement into a constant anxiety loop -- and the simple margin of safety that makes it irrelevantThe lightning round: concentrated stock, leverage, crypto yield products, options trading, rebalancing, and tax efficiency -- return or trouble?OG and Anna on the distribution ladder: how to sequence withdrawals from pre-tax, brokerage, and Roth accounts to minimize taxes in retirementWhat IRMAA is, why it shows up two years after the decision that caused it, and why Roth conversions need to happen in November -- not MarchWhy This Matters NowIf you've been dollar-cost averaging into index funds and calling it a day, this episode is the next conversation. The gap between a well-built system and a random pile of investments isn't measured in which funds you chose -- it's measured in taxes paid, sequence of returns survived, and whether you had a plan when everything felt uncertain.From the BasementJoe and OG dig into the return boosters that have nothing to do with picking better investments -- recorded while OG is already inside Hollywood Studios at 4 AM trying to figure out the Lightning Lane math. OG and Anna deliver episode four of their financial basics series with a full walkthrough of tax-efficient withdrawal sequencing, including the IRMAA trap, Roth conversion timing, and why the tax triangle you built in season one is the whole point. Doug arrives with Studebaker trivia. The community delivers an anonymous car buying post that may be the most actionable 200 words the basement has produced all year. And the Stacking Benjamins Inner Circle scam gets called out by name.Resources MentionedStacking Benjamins Scorecard -- stackingbenjamins.com/scorecard; free tool to evaluate your current financial positionStacking Benjamins Basics Guide -- season one and season two workbooks free at stackingbenjamins.com/basicsguideStock Market Maestros episode -- linked at stackingbenjamins.com; on the habits of the world's best investorsStacking Benjamins YouTube channel -- youtube.com/stackingbenjamins; full OG and Anna basics seriesStacking Benjamins Vault -- stackingbenjamins.com/vaultStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins Community (The Basement) -- stackingbenjamins.com/basementStacking Benjamins Meetups (BAD Groups) -- stackingbenjamins.com/BADSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3580: Jeff Rose highlights practical financial lessons that can shape a more secure future, from understanding credit scores and investing early to recognizing the value of entrepreneurship. Through relatable examples and simple explanations, he shows how small financial decisions made young can compound into long-term wealth and opportunity. Read along with the original article(s) here: https://www.goodfinancialcents.com/7-personal-finance-lessons-wish-everyone-learned-high-school/ Quotes to ponder: "Your credit score is an important part of your overall financial health, and it can make a huge difference in how you manage your finances as an adult." "I believe the earlier we teach students about financial basics, the better off they'll be." "When people don't know better, they don't do better." Episode references: Fidelity Investments: https://www.fidelity.com/ Experian: https://www.experian.com/ TransUnion: https://www.transunion.com/ Vanguard: https://investor.vanguard.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Don and Tom tackle some of the most common retirement planning mistakes, with a particular focus on taxes and the danger of becoming overly obsessed with them. They discuss taxable Social Security benefits, the importance of diversifying across account types, Roth conversion considerations, tax-loss harvesting, and why most retirement decisions ultimately fall into the category of “it depends.” They also answer a listener question about navigating poor 403(b) plan options and the advantages of a 457 plan for educators. Finally, they dive deep into a thoughtful challenge from a listener regarding Avantis and Dimensional factor funds versus traditional Vanguard index funds, examining the evidence for factor tilts, the role of risk premiums, costs, and whether higher expected returns justify modestly higher expense ratios.0:05 Retirement planning mistakes, taxes, retirement income, financial independence, retirement readiness1:58 Tax obsession, retirement taxes, income planning, financial priorities, wealth management2:43 Social Security taxation, taxable benefits, retirement income, Social Security myths, tax planning5:14 Tax diversification, traditional 401(k), Roth accounts, brokerage accounts, retirement savings7:57 Roth IRA, young investors, compound growth, retirement investing, tax-free income9:11 Tax-loss harvesting, brokerage accounts, capital gains, tax strategy, investment management10:03 Roth conversions, Medicare IRMAA, retirement taxes, financial planning, tax efficiency12:03 Inherited IRAs, heirs, estate planning, retirement accounts, legacy planning13:35 403(b) plans, 457 plans, retirement savings, school employees, listener question15:29 403(b) Wise, 457B Wiser, educator retirement plans, high fees, retirement options18:35 Roth IRA investing, small-cap funds, emerging markets, diversification, asset allocation19:38 Avantis funds, Dimensional funds, Vanguard funds, factor investing, index investing23:55 Fama-French research, small-value premium, indexing, active management, factor premiums26:08 Rules-based investing, passive investing, factor tilts, portfolio construction, diversification27:02 Small-cap value investing, fund performance, index comparisons, advisor value, investment returns30:25 International small value, emerging markets, factor premiums, diversification, expected returns32:55 Academic investing research, Nobel Prize economics, risk premiums, value investing, factor investing35:18 Portfolio construction, asset allocation, diversification, retirement planning, investment strategy36:16 Free portfolio review, financial advice, portfolio allocation, retirement readiness, fiduciary planningQuestions? Comments? Click!

Are you tired of the "fear porn" industry telling you that everything is collapsing without offering a single solution? In this powerful episode of the Awakening Podcast, we welcome back Peter Wilson, a leading voice in the sovereignty movement and organizer of the iconic "Checkmate the Matrix" event. Peter shares the incredible success of his recent three-day summit in Newcastle, where hundreds gathered to learn practical, actionable steps for reclaiming their health, finances, and energy. We dive deep into the systemic corruption behind gas and electricity prices in Ireland and the UK, exposing the roles of companies like Centrica, BlackRock, and Vanguard. Peter doesn't just point out the problems; he provides the blueprint for creating your own power, cleansing your own water, and moving toward decentralized financial platforms. If you're ready to stop waiting for a "knight in shining armor" and start becoming the hero of your own story, this episode is for you.     ⏱️Timestamps Timestamp Topic Description 0:00 Welcome & Introduction to Peter Wilson 0:47 The "Checkmate the Matrix" Event: A three-day success in Newcastle 2:13 Why Newcastle? The iconic venue and safe community space 3:23 Moving Beyond "Fear Porn": Focusing on solutions, not moaning 4:12 Sovereignty in Practice: Food, health, and financial independence 5:01 The "Plastic Bag" Solution: Why dropping out of the system isn't the answer 6:12 The "Waiting to be Saved" Trap: Why you are your own rescuer 7:43 The Biscuit Factory: A unique venue for a unique movement 9:17 Audio-Visual Evolution: Improving the streaming experience for next year 11:04 The Corruption of Energy: Exposing the sale of Board Gáis to Centrica 12:54 BlackRock & Vanguard: The hidden hands behind global energy profits 14:35 The Irish Oil & Gas Scandal: How royalties were scrapped for "golden handshakes" 16:13 Comparing Ireland to Norway: A masterclass in national resource mismanagement 25:57 Wind Energy Innovation: The "Tin of Beans" silent turbine 27:11 Micro-Inverters & Solar Power: Plugging directly into your home grid 29:03 The Ed Miliband "Paperwork" Delay: Legal vs. safe energy solutions 30:14 Apartment Solar: How to collect energy from a balcony 36:31 Cleaning Solar Panels: Improving efficiency and potential business ideas 37:08 The Water Cooling Hack: How to make solar panels perform better in heat 41:48 Sovereign AI: Using technology to build independent income streams 54:39 Direct Democracy & Accountability: Learning from international models 56:51 "A Real Collusion": Using fiction to expose political truth 65:21 The Organ Donation Crisis: A call for systemic reform 87:04 Outro: RoyCoughlan.com, sponsorship, and the Sovereign AI Blueprint 88:02 Special Announcement: Your Sovereign AI Income Blueprint training            

Send us Fan MailIn this Season 7 episode of ETF Battles, Ron DeLegge ‪@etfguide‬ referees an audience requested battle between VOO and SGOV, asking if it's better for the next two years to keep your portfolio in equity or bonds. ETF Battles is sponsored by DirexionDirexion Daily Leveraged & Inverse ETFs.Know the risks.Trade Boldly.Visit Direxion.com https://www.direxion.com/product/dail...Program judges Mike Akins at ETF Action, and Tony Dong, an independent ETF analyst, examine this ETF battle between VOO, (Vanguard), and SGOV (iShares). Each ETF is judged against the other in key categories like cost, exposure strategy, performance, yield and a mystery category. Find out who wins the battle!#equity #bonds #ETF