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I think that my answer here is pretty nuanced, and it is that most people I talk to should over the majority of their lives be using something like Wealthfront
by patio11 7y ago
I think that my answer here is pretty nuanced, and it is that most people I talk to should over the majority of their lives be using something like Wealthfront or a Vanguard target date retirement fund, but I also talk to folks who have quirky life circumstances as a function of how the technology industry works, and those folks would potentially benefit materially from IB.
Here's about as much as I can say publicly before I start getting worried about social dynamics: if you will, at some point in the next 20 years, own millions of dollars of stock as a function of your employment, you should be radically more interested in Interactive Brokers than a similarly situated technologist who does not have some of the needs implied by that.
- fossuser 7y agoWhy Wealthfront over FZROX and FNILX? I switched from Wealthfront to these Fidelity index funds since they're free and seem to do basically the same thing (also convenient to just have everything in one place and Fidelity is where my 401k is anyway). Wealthfront also added a 'risk-parity' fund which was opt-out that does not follow the same low risk index funds idea (and caused me to trust them less) https://www.pragcap.com/wealthfronts-risk-parity-fund-raw-deal/ https://www.pragcap.com/wealthfronts-risk-parity-fund-raw-de....
- whitepoplar 7y agoThanks, Patrick! I realize your concern re: publicity and social dynamics, so I won't pry any further, but let's say, hypothetically, one ended up in that former group many years from now--how did you seek the financial advice you'd now give to your younger self?