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Fidelity: Successful investors forget they have an account: https://www.bogleheads.org/forum/viewtopic.php?t=146347 https://www.bogleheads.org/forum/viewtopic.

by djkivi 2y ago

Fidelity: Successful investors forget they have an account: https://www.bogleheads.org/forum/viewtopic.php?t=146347 https://www.bogleheads.org/forum/viewtopic.php?t=146347

BurningFrog 2y ago
That's pretty much how I did it. I didn't actually forget, of course, but I didn't get around to looking at the numbers every year. And when I did, I hardly ever changed anything. Of course, buying Apple in 1997 was also an important factor.
- heresie-dabord 2y ago
  > Of course, buying Apple in 1997 was also an important factor. Had the fare, boarded the right train at the right time.
geodel 2y ago
Funny. Just today I receive main from Fidelity to review my account. The only thing I wish to but can't afford to change is retirement age to an earlier date.
pants2 2y ago
In crypto, successful investors get their funds stolen and then later recovered (MtGox, Gemini Earn)
- cm2187 2y ago
  Or go to jail and only get to sell on their release
- Auracle 2y ago
  Mine were just stolen by the government and not given back. Btc-e. I’m not bitter or anything.
- kalium-xyz 2y ago
  Heh i had this with bittrex
- Mistletoe 2y ago
  Those are the lucky ones that get paid back in kind in the crypto currency they had. Some like the FTX folks are unfortunately paid in the dollar value of their account at the time. Bitcoin was like 15-20k at the time of the FTX collapse and is now 60k again like the highs in 2021.
stbenjam 2y ago
Until it gets liquidated and the cash put into state lost money accounts because of escheatment rules. You should still login once a quarter or so. https://www.investopedia.com/ask/answers/110415/what-are-dormancy-and-escheatment-rules-iras.asp https://www.investopedia.com/ask/answers/110415/what-are-dor...
- Mathnerd314 2y ago
  > The dormancy period for IRAs cannot begin until the account owner reaches the age at which one must begin taking required minimum distributions. As of 2023, the required minimum distribution age is 73. So not until you retire.
recursive 2y ago
I've been harboring a suspicion for several years that I've forgotten an account or two. Maybe I'm one of the fidelity investors.
- TeMPOraL 2y ago
  Subscription fatigue. I sometimes worry if I have a forgotten paid subscription on an e-mail of mine I don't check, that slowly drains a bank account I forgot I have. There's just Too Many Accounts, and Too Many Subscriptions.
  - ghaff 2y ago
    That's the thing with subscriptions. The default is just to let them continue to leak. I've periodically discovered subscriptions that presumably resulted from me not explicitly not checking a box somewhere,
throw0101d 2y ago
Your link has John O'Shaughnessy being interviewed by Barry Ritholtz (two respected folks in finance), and O'Shaughnessy later corrected himself: * https://twitter.com/jposhaughnessy/status/1155171083663925248?s=20 https://twitter.com/jposhaughnessy/status/115517108366392524... While I do believe set-and-forget passive investing is best for the vast majority of people, last time I checked that Fidelity study does not actually exist, and the story is apocryphal (no one seems to be able to actually link to it). If you ask Fidelity about it, they'll tell you it does not exist: * https://www.morningstar.com/columns/rekenthaler-report/archives-praise-dead-investors https://www.morningstar.com/columns/rekenthaler-report/archi...
- deleted 2y ago
  [deleted]
- djkivi 2y ago
  Thank you. There are too many of these apocryphal stories out there of various kinds. Sorry that this one appears to be too.
deleted 2y ago
[deleted]

by djkivi 2y ago

Fidelity: Successful investors forget they have an account: https://www.bogleheads.org/forum/viewtopic.php?t=146347 https://www.bogleheads.org/forum/viewtopic.php?t=146347

BurningFrog 2y ago

That's pretty much how I did it. I didn't actually forget, of course, but I didn't get around to looking at the numbers every year. And when I did, I hardly ever changed anything. Of course, buying Apple in 1997 was also an important factor.

heresie-dabord 2y ago
> Of course, buying Apple in 1997 was also an important factor. Had the fare, boarded the right train at the right time.

geodel 2y ago

Funny. Just today I receive main from Fidelity to review my account. The only thing I wish to but can't afford to change is retirement age to an earlier date.

pants2 2y ago

In crypto, successful investors get their funds stolen and then later recovered (MtGox, Gemini Earn)

cm2187 2y ago
Or go to jail and only get to sell on their release
Auracle 2y ago
Mine were just stolen by the government and not given back. Btc-e. I’m not bitter or anything.
kalium-xyz 2y ago
Heh i had this with bittrex
Mistletoe 2y ago
Those are the lucky ones that get paid back in kind in the crypto currency they had. Some like the FTX folks are unfortunately paid in the dollar value of their account at the time. Bitcoin was like 15-20k at the time of the FTX collapse and is now 60k again like the highs in 2021.

stbenjam 2y ago

Until it gets liquidated and the cash put into state lost money accounts because of escheatment rules. You should still login once a quarter or so. https://www.investopedia.com/ask/answers/110415/what-are-dormancy-and-escheatment-rules-iras.asp https://www.investopedia.com/ask/answers/110415/what-are-dor...

Mathnerd314 2y ago
> The dormancy period for IRAs cannot begin until the account owner reaches the age at which one must begin taking required minimum distributions. As of 2023, the required minimum distribution age is 73. So not until you retire.

recursive 2y ago

I've been harboring a suspicion for several years that I've forgotten an account or two. Maybe I'm one of the fidelity investors.

TeMPOraL 2y ago
Subscription fatigue. I sometimes worry if I have a forgotten paid subscription on an e-mail of mine I don't check, that slowly drains a bank account I forgot I have. There's just Too Many Accounts, and Too Many Subscriptions.
- ghaff 2y ago
  That's the thing with subscriptions. The default is just to let them continue to leak. I've periodically discovered subscriptions that presumably resulted from me not explicitly not checking a box somewhere,

throw0101d 2y ago

Your link has John O'Shaughnessy being interviewed by Barry Ritholtz (two respected folks in finance), and O'Shaughnessy later corrected himself: * https://twitter.com/jposhaughnessy/status/1155171083663925248?s=20 https://twitter.com/jposhaughnessy/status/115517108366392524... While I do believe set-and-forget passive investing is best for the vast majority of people, last time I checked that Fidelity study does not actually exist, and the story is apocryphal (no one seems to be able to actually link to it). If you ask Fidelity about it, they'll tell you it does not exist: * https://www.morningstar.com/columns/rekenthaler-report/archives-praise-dead-investors https://www.morningstar.com/columns/rekenthaler-report/archi...

deleted 2y ago
[deleted]
djkivi 2y ago
Thank you. There are too many of these apocryphal stories out there of various kinds. Sorry that this one appears to be too.

deleted 2y ago

[deleted]