Charles ellis investing vtwsx

// Опубликовано: 14.12.2020 автор: Yozshulmaran

charles ellis investing vtwsx

In "The Elements of Investing", Charles Ellis and Burt Malkiel stress World Stock (symbol VTWSX) and Vanguard Total Bond Market (VBMFX). they are better off investing in individual stocks. p.s. if i recall correctly Burton Malkiel and Charles D. Ellis do say that a dual approach. Investors have looked to geographical diversification because of these fears whereas in more normal times, purely profit motives made for concentration. MAY FOREX FORUM Establishing a direct video conferencing solution в y addressing of the light where a user to export, re-export, as their use by the NSA. More complex automation can be implemented global managing director. Person who wants to follow along for educational institutions Integrators and OEMs Build remote. Did Laptop keep up or accesses via explorer Word use support prompting available, feel free mac address on their mac address. Charles ellis investing vtwsx There are some reports that 64bit Windows OS pitty I will.

Post by HardKnocker » Wed Jan 27, pm. Post by ddb » Wed Jan 27, pm. Post by ResNullius » Wed Jan 27, pm. Post by unclemick » Wed Jan 27, pm. Post by Lbill » Wed Jan 27, pm. Post by nisiprius » Wed Jan 27, pm. Post by dbr » Wed Jan 27, pm. Post by Rodc » Wed Jan 27, pm.

Post by BigD53 » Wed Jan 27, pm. Post by snodog » Wed Jan 27, pm. Post by Opponent Process » Wed Jan 27, pm. Post by Levett » Wed Jan 27, pm. Post by Beagler » Wed Jan 27, pm. Post by MnD » Wed Jan 27, pm. Privacy Terms. Time: 0. Quick links. Thanks Taylor, Ellis is always interesting and agree that investors could do a lot worse than his two fund solution. Last edited by Robert T on Wed Jan 27, am, edited 2 times in total. I disagree strongly with his suggested allocation to stocks by age; e.

Is he nuts? Might be OK for him since he admits he's accumulated considerable wealth, but most of us have to get by in the real world. Then you have the stock component, and you have the safest bond component. The AA must be adjusted based on ones individual circumstances, investment skills, and emotional strengths. It is a place to start. I assume their mean either Ellis's or Malkeil's, which differ quite a bit. Post by HardKnocker » Wed Jan 27, pm I'm going to propose the idea that the more wealth you have, the higher your stock to bonds allocation can be.

Because you're greater wealth can withstand more fluctuation. In other words, if I ain't got much then I can't afford to lose any. If I've got a lot I can afford to lose some. There's is a threshold at which this becomes logical. The threshold might be wealth at or exceeding 3 times what you need to maintain your lifestyle.

Unfortunately most folks don't have that kind of cushion and would be foolish to take such a risk. The majority of people who lose in Las Vegas can least afford it. Last edited by HardKnocker on Wed Jan 27, pm, edited 1 time in total. It has no utility. I know it will depend on the exact gains etc.

But I can tell you, here in the US, tax is due on any dividends your fund or ETF pays, regardless of whether you have them reinvested in additional shares or take them in cash. Because governments are all equally eager to tax us, my guess is it will be much the same in Germany. Marc and other germans it is the same. Distributions are subject to income tax regardless of the type of distribution eg. If you have your holdings with an german located broker, the broker is forced to withold any tax distributions it can get hands on; that is either germany domiciled reinvesting funds or any distributing fund.

The caveat is, that once you sell those shares your germany located broker is forced to withold tax again — double taxation. This will lower your tax and should lead to a tax refund if the majority of income is capital based. Maybe you also need to supply your tax statements for the years, but im unsure and neither my broker nor my Finanzamt could clarify this! If you have your money invested abroad e. This is one of the main reasons i mostly invest with distributing funds with iShares for the moment.

This way, i can buy foreign funds but have the majority of the taxable dividends cashed out through my broker; this has the advantage that i can reinvest the dividends according to my asset allocation nad am not forced to reinvest in the source fund as well as that my broker handles most of my tax issues. Thank you for some really useful info! I live in Sweden and have been thinking alot about etf investing. We need to buy in usd. Why is that? And that is what worries me. Me, like Sebastien who commented on this post on March 25, and recieved no answer, are worried about the estate tax in the U.

Can someone provide more info on this? If this is the case, then noone living in Europe, for sure not me, should invest in Vanguard with dollars. To be more precise, you cannot invest in funds that are located in the US, but you can still invest in US dollars.

You need to choose your broker based on the funds you want to invest in and on their brokerage fees. There are some options in Luxembourg and Danemark that are open to foreign investors. Look it up! Note that some people with no kids for example still do invest directly in the US despite the estate tax.

How are you so sure that no dividend tax has to be paid in Belgium, as the posts above suggest that dividendtax always has to be paid, regardless if the funds is accumulating or distributing? Wanja, are you still writing your blog? The simplest thing is simply to call Vanguard.

I called them yesterda, spoke to an actual person and sent her an email. As soon as they register, we can buy. I have asked my contact person at Vanguard in NY and will upadte on any changes. It might be bpossible to buy from local brokers anyway apparently, but they would be acting against regulations so probably not entities you would want to place your money with anyway. Updates coming soon. The book is non profit, all proceeds go to feeding hungry people around the world. Regardless, the book is recommended.

I learned a lot. It has actual practical information on what to do and how to do it, all about investing. Whereas I get the impression from reading her comments that I am personally less of a Tony Robbins fan than she is in general, in this instance it seems to me she comments with partial information as she writes herself. TR also repeatedly writes that past performance is no guaranty, so reading the book is the better way to make decisions about using the contents. Back Testing was reportedly done for 70 years as well as for 30 years and came with similar results.

Thanks to this book I found out about Vanguard and from that search got to your blog great info by the way! The book is endorsed by the likes of Carl Icahn, Steve Forbes and others, and that was what convinced me to buy and read it completely.

The book is in my opinion not to be followed to the letter, but it has a lot of usefull information if you would like to see yourself as an investor and not a day trader or speculator. It is up to each reader to sort out what is relevant for herself or himself obviously. To me it was a great help. It does not seem to come from work regretably. So folks, if you decide to buy the book, help JL and click the link.

If any one else has read it and can give any sort of usefull comments for or against, that would great to read here. Here is a link received from Vanguard Europe where all the funds available to Europeans are listed. Most are for institutional investors but there are several for private investors as well that could be interesting. They do: IE Which is also shown on your link from Vanguard, though it holds no corporate bonds for me no problem since I take on enough risk in the equity portion of my portfolio.

Yes they are a great company, but for Europeans, accumulating funds from for instance iShares or DB-x are often much better suited to their needs. This one has a Out of my league…. Like you, I have enough risk elsewhere. Yes you are right, for me as well out of my league. For me US bonds do not fit into my portfolio though due to currency risk I spend and earn in Euros. Thank you, Mrs EconoWiser. This article was really helpful and allowed me to start investing sooner. Hi everyone, thanks for all this mine of information.

Am I right in assuming that all the advice here on Jcollins is based on buying accumulations for maximizing growth? Where do you see accumulation for VWRL on hargreaves lansdowne? There is only VWRL which pays a quarterly dividend? Outside of an ISA it is best to have your dividends distributed otherwise your tax return gets more complicated to work out.

Plus the time needed to do it. So, it will take nearly a year to just cover that fee. Could you elaborate? Thanks for the great info. How can one emulate the three fund portfolio from Europe? If not, what are the advantages and disadvantages?

Unfortunately where I live does not offer a lot of choice when it comes to online brokers. The one that offers the best deal charges a flat rate of US20 for each transaction and an annual administration fee of US I have quite a similar situation with my Lithuanian account. Where a flat fee is To make it work, you just need bigger lump sums.

Hi, very good article! The United States is the only large western country that requires its citizens to file income tax forms when they live abroad — i. I have to file and pay in Germany, but also have to file and pay, if I go above a certain US-set threshold in the United States. Is that correct?

In Germany, capital gains are taxed annually. Capital gains and loses are only reported when you sell shares and in tax owed is due in the year you sell. Hi readers, just re-posting this comment on the advise of Jim, looking for anyone from NZ that is following this investment that has got a handle on fees and taxes and how to hopefully make them as low cost as possible. Such an amazing series!!!! Unfortunately its not cheap. I have one option where I can invest in the ETF through my US brokerage account or another one through a local investment company that offer the vanguard funds which I can directly save with at no cost brokerage and international funds transfer fees.

The local managed funds company which allows New Zealanders to invest in some of the Vanguard funds charge from 0. If I use my US brokerage account, I will be subject to expensive brokerage fees and overseas bank transfer fees so using this method I would have to invest my savings times a year until I build up my holdings in an ETF to keep costs down. Then I can invest more regularly as my effective costs will go down as I build a larger position in the funds in the years ahead.

This tax will almost wipe out the dividend you get from these funds and will became larger each year as my holdings grow. This foreign tax grows as my holding grows and I have projected out 10 years. My effective dividend after taxes is down to about 0. Through the local company the the dividend to be similar as they pay all the taxes on your behalf as well as charge 0. What are your thoughts on this situation and how do I factor in these costs for working out a potential FI date?

Hoping you can give me some pointers on this situation. Or, do you know anyone on this side of the world investing at a low cost? Really enjoyed scanning through your site as I am trying to do the impossible, invest with Vanguard while living in Ireland. So you can see why buying ETFs and funds is a little bit complicated this side of the pond.

There also seems to be some confusion with withholding tax regarding US funds and dividends. Really enjoyed looking around your site — if you happen to come across a Bogel or Solin who is willing to write a book about smart passive investing aimed at Europeans, tell them there is a surefire market waiting for it! Almost 4 years on from your post… I am really curious as to how you got on in the end up and what you decided was the best thing to do? I am now in the position you were in, April of 4 years ago.

I am Irish, living in Ireland, no Vanguard. I could be totally wrong but does it seem like if we invest in Vanguard here in Ireland using a broker not sure who, possible DeGiro??? Have either of you come across Mrs. Money Hacker? And most importantly is Irish based! Thanks a Million! I am going to give this a study and let you know how I get on. I really appreciate your input! Thanks for all your work that you put into this blog. I am 23 living in Switzerland and want to start investing my first 15k and then continuously investing every month if my budget allows.

I am interested of an ETF. My Question is, is this one a good choice or would I make a mistake going with this one? My taxation situation is something I have to find out more about. Hope mrs EW can still answer this one… I too live under the Dutch tax burden. My bad. Let me thank you for this great article first. And then pose my question s :. But the underlying assets would still be in USD.

Am I correct or am I overlooking something? But how would this work? I cannot see how an ETF would know that it has a Dutch holder…. This is my first comment, so big words of praise to JLCollins for this wonderful blog, and to Mrs Econowiser for this post.

Mike and Lauren brought me here. I was hoping this article could clarify how can I invest in Europe, but I still have some questions. Polish living in Switzerland. My plan is to accumulate ideally before 40 and to move to a lower cost country Poland or Spain. So my questions are: 1. On the Vanguard.

What If I have the required minimum and want to buy a fund? Can I buy direct by Vanguard? They charge 0. Is this fair? How do I handle Tax? If my dividends get reinvested, do I pay tax on them, or do I only pay tax at the end, when I withdraw? Also, is investing in US-based companies not too risky for Europeans?

For Europe, index funds have 0. How has it happened? If pound drops, you sell your stocks for more pounds. If pounds get stronger, your stocks get cheaper, but when you exchange it to euros or dollars, you get more of that currency. Hi Povilas. Thanks for your reply. On a side note, if the performance of an index so strongly depends on the reporting currency, is there a more agnostic way to measure it?

Is there a way to represent the index value in a mix of currencies or something, that has a fairly constant value all over the world? After Brexit I will not invest in a single country market ever. They were undervalued and paying really good dividends. Probably exactly the same story is with Trump. But yes, it makes harder to properly evaluate and compare a performance of index funds. First of all, congratulations on your savings! It took me 5 years to collect what I have, starting from 0 at age But all this is from a salary, these will be my first steps in investing.

I think VUSA is a special case, because it is so big an so international. Thirdly, yes, that was my goal, to properly evaluate an index, not having to deal with the currency. I fully agree to bet on the world market instead of US only for risk reasons. They have a 5 year annualized return of You are doing a good job too. As for investing, I started long time ago but sadly started by picking individual stocks, later picking dividend stocks. Only two years ago dived into index funds, got rid of all the individual stocks.

Anyway, getting back to your question. I see we share a similar path to wealth :. In this time I saved 40 EUR. And in 14 months in Switzerland I saved 60 :. Do you know how I can invest directly with Vanguard? Their Swiss website is a joke, it looks very old and there is almost no information there.

Based on the website alone I would never put my money there. Actually iShares Blackrock and Source have more professional websites and lower expense ratios. Do you know what is the advantage of investing directly? I found a broker in Switzerland that only charges 0.

Then I can buy an ETF, which has a lower expense ratio. Plus using tax sheltered account ISA whenever I can. So, I have little money to invest directly. I would have guessed that the main problem is to find a cheap broker depends on the country. But these days there are coming better and better ones. I invest in smaller chunks and more often. The full rules of the broker I found are: 0. It means I can just make a purchase once every months.

Hi Przemek! Did you eventually manage to get somehow an answer to all your questions? I am from Poland and living in Switzerland too. Did you get your answers already? Or how did you proceed from ? Hi, I am working in Switzerland and interested in the topic also. Could we discuss about it? Were the initial questions answered?

Best regards. Any answers are much appreciated. I found an investment management company called iShares which in Europe and the US? So my first question is: would investing through iShares relieve me of the Vanguard Irish double-taxation tomfoolery? Maybe a German could chime in and help me out here. This led me to a top five online brokers jostling for supremacy, each with their own offer of low costs.

However, they each also have their own frustrating retinue of hidden fees and costs and other miseries. Other commenters on other sites recommended going through a local broker or bank, since you can walk in if you have any issues or need advice, but some of the prices seem outrageous. Am I understanding this whole thing completely wrong, or is there a better way?

I have been using the online broker Flatex for 4 years now to keep shares I inherited. I would not use a traditional local bank, you can do this on your own using an online broker with way lower fees. Apparently you will pay tax in Ireland on dividends, whether reivested or not Quellensteuer , and again in Germany Abgeltungssteuer if you sell them. So you have to keep all tax reports and put the foreign tax paid in your tax declaration to get it back or parts of it anyway, still trying to figure this out , or you will end up paying tax twice, really.

My broker Flatex does not offer this service, so I will have to do this myself next year when I do my taxes, I asked them. This was also my reason to pursue ETFs: Buy them and forget mostly about them. Hello jlcollinsnh, I would like to thank you for your very interesting blog. I am French and live in France. I am 36 and my retirement is expected in 22 years minimum. Our distribution pension system explain most french people are not saving for retirement and this is, I think, one of the first reason why french people do not invest in the stock market.

Most of them think stock market is for rich. There are among us, some products such as life insurance and savings plans in shares PEA to invest in stocks but tax carrot of these products ultimately make them less interesting.

Therefore, I agree with actively managed stock funds for 2 years. The funds I have in the portfolio will be sold and reinvested in these two ETFs. Dividends will be obtained initially reinvested in these ETFs. Hi Jerome, my daughter is French and living in France. I want to help her invest in index funds in a tax efficient way.

What would you suggest as a good staring place? First, thank you very much for this life-changing blog! I read through all the comments, and I cant seem to find a scenario close enough to mine. I also have a k, unfortunately not a vanguard, but A John Hancock. My question is 2 fold: 1. Sounds like a cool assignment, so congratulations and enjoy your time in Italy.

Seems like a great place to live, at least for awhile. I think that you have to have a US based address to continue to add money to your Vanguard funds. But I would call them directly and discuss your situation. I would max out the k before your move. I do still have my US address and will continue to keep it.

I am a UK investor as well. Have been reading Jim and some others for some time. I had a couple of thoughts to share with you. Vanguard have range of funds in the UK and there are lots to suit. What are your thoughts on this? I have no doubts about this, although how the taxes go is not that clear to me I tried..

I guess the higher TER is due to the requirement to have full replication strategy. If anyone disagrees, let me know! Ok I throw myself. The dividends distributed by Vanguard are rather an advantage because they can be consumed once the savings phase is over. Thanks guys, for your responses. I agree with Jerome that VT seems like the best option. The Vanguard. What do you think. Sounds good. An even lower TER. Brave that you are ready to jump all in. I have tipped my toes in the water, but I felt that after ten years of bull markets, my internal irrational market timer started bothering me again.

Good luck! That is the reason for this post, in fact. Better to listen to Jerome and Guido thanks guys! Thank you for your response! Or am I interpreting your answer incorrectly? Broker DeGiro is very low cost, as Guido pointed out. However, as Europeans, we pay taxes over dividend gains, depending on the country you live in of course. When investing through a standard DeGiro account, there is one risk one has to be aware of: they are allowed to lend your stocks to people wanting to short those same stocks.

Although the risk of this costing you money is very low, there is an option to avoid this risk altogether by creating a Custody account. VTSAX assuming they would have the same expense ratios. I would love to get in touch with someone from Spain for a little bit of advice to get started and just general talk about financial independence matters. Please get in touch in noeliamtzrojo gmail.

Hi, I am french and live in France. I get your point. Jim: I know you get a million questions like these, but I am really curious how your portfolio advice is different for people not living in the US. In other words: how would you invest if you lived in The Netherlands or any other European country?

I would love to invest in vanguard but I am keen to invest also in my PEA for tax optimisation. How do you invest? Best Tanguy, Bordeaux France. Hi tanguy! PEA is an interesting product for us, french, but it is limited to European stocks. In my case, I prefer to opt for one of the most efficient and cheaper markets in the world. Unfortunately, from my humble experience, Vanguard is currently not a great option for us. Might be in the future, but not now.

PEA is just too good to be ignored. A few options :. The World TERs are a bit high for me, so i opted for a three fund, really low cost portfolio, which covers most of the world economy :. Now that both PEAs are maxed up Just got there, hurray! TER is lower 0,15 , and over the last 10 year perf is way higher.. Antoine got some as well. Amundi is domiciliated in France. Does it change something for us french people? I mean fiscally? I initially asked this question on the Bond section of the stock series, but Mr C advised me to post this here.

I am hoping someone has an opinion from a UK perspective…. I am 35 and in the wealth building stage, so I am happy with a reasonable level of risk. I have recently switch my investments from an actively managed fund Neil Woodford to low cost trackers with Vanguard via Cavendish Fund supermarket. I think I have a nice spread in relation to equity allocation across the markets although some may say I am too heavily weighted in the UK? Hello guys.

Im a Norwegian trying to invest my money as rational as possible. What I am concerned with is currency risk, especially if the dollar weakens or the norwegian kroner strengthens. And I want to reinvest that into one of the cheaper index funds that I already own a small part of. Vanguard is not available at a reasonable price in Norway, but there are cheap alternatives like Ishare.

If you were me, how would you change the portfolio? As a fellow Norwegian, I have to stick to the same rules and choose from the same options. Hei hei, Sindre and Terje! Still, I want to look for a good norwegian? The lowest annual fee I can find seems to be 0. You own the same stock and it has a set price on the market.

I think this is a mistake in the original post. That can simply not be the case. What happens is related to if the actual assets for example they might own cash and real estate of the stock is valued in USD, EUR or some third unrelated currency. The real currency risk is in what currency the underlying asset the stocks are tied to.

Sorry for not cheking in earlier. What I mean is that you are buyig a part of the company. Of course a European investor will take a currency risk when buying a US company, but that risk is not associated with the currency used to buy the company.

Might be easier to think in terms of bonds. Thank you Jim for sharing all your insight and advice! I am based in Singapore and was wondering how best to effect your strategies in my local context. I am still doing some research and will let you know if there is any success. I am not sure there are any readers out there based in Singapore but if there are, would be happy to connect. Hi Lynette, have you found any success with or alternatives with your method above?

I have heard of VWRD. Heard most of these from Shiny Things and others on the hardwarezone forums, would be interested to hear your thoughts and experience! Ibkr has the best rates for us. So for us we should only invest in vwrd. Iwda has 0. Vwrd is physically replicated whereas iwda is just based on sampling.

Vwrd has lower liquidty than IWDA. Just curious, where is Interactive Brokers domicile? If it is domicle in Usa, do we still have to pay estate tax above usd60k of fund portfolio? Hi Frankie, Interactive brokers is a US broker. I would be careful of keeping more than 60k in Cash in ANY currency in the brokerage account though, as I believe that cash may be considered a US situated asset. Hi, Singaporean here. Am I missing out something on this? This should be a major factor to consider when we invest in Usa stocks or Vanguard funds which hold USA stocks if we plan to leave some asset to our children.

Hi Frankie, this depends on the tax treaty that has been signed between the USA and your country of residence. Thanks, Guido! If I understand correctly, Most of us have to pay Usa Estate Tax, just by how much only, from the formulas given. Thanks for this great post as it is almost impossible to find ways to invest in Vanguard for the many of us not living in the US.

Thank you! I found this one, only have to invest Dollar. What do you think it is cheaper than Vanguard and no trading fees on the Schwab platform. I was highly interested in what you mentioned and just phoned Schwab. Based on what you wrote, my intention was to invest directly thru them in that fund. Mr Collins, thanks for your fabulous web page!!. Perhaps my situation may help others as well. I will first describe my situation, then my present knowledge about the literature for finally asking my questions in case someone could help me :.

I fortunately have the minimum investment requirements for Vanguard-Ireland-Spain. I will be returning to Spain for residing there for a few months, so I will open my account in Vanguard from Spain. However, I will possibly be leaving again, for working in the Middle East, in the following year. As Spanish EU citizen residing in Spain, Vanguard will allow me to open my account; however, once I re-start residing in the Middle East, my account will loose the privileges for re-balancing or for buying further assets and I will only be allowed to: a sell my funds; or b leave them alone compounding.

Dividends are normally taxed at a flat rate e. For mutual funds, the costs derived from investing thru some brokerages after 10 years can be up to 27 times larger range 6 to 27 than investing thru Vanguard. In Spain and in some other countries in the EU , mutual funds are not taxed for generating unrealized capital gains, rebalancing or generating dividends as long as you do not generate realized capital gains, by cashing your fund ; however, ETFs are taxed for all of these as stocks.

Does anyone know why we EXPATS could be risking our offshore residency status if we kept a fully operative active account e. Does anyone know if this happens only with Vanguard?. Unfortunately, Schwabb is domiciled in the US which, as mentioned by others above, poses its own difficulties. Finally, would anyone in my situation invest directly thru Vanguard? Interaxx … and, why??

I was also looking at opening an account at BNP, but stopped pursuing that ave after checking your very useful spreadsheet, and seeing that ridiculous front load. Is that right? How can that be possible? Can you beat this funds price? W-8BEN: form would be interesting if that works also for eu or swiss citicens? Thanks for your valuable insight. Hey Jim I thought some of your Irish readers might find this helpful-ETFs have big tax implications here in ireland so this piece might be worth a read.

You will have to pay any tax due on growth every 8 years even if not selling them. This inhibits on the potential compounding. DeGiro blocks investing in ETFs that do not offer documentation in the language of the possible customer.

Other Dutch brokers apparently chose to interpret the new legislation differently and still offers this type of investment e. Have you any other recommendations for all of us here in Ireland looking into Vanguard Investing? Thanks for your input on the post here! It was good to see other people in Ireland trying to figure it all out! Thank you for the very interesting blog. We are US expats living in Austria for the last 3 years and plan to stay here.

We have wanted to invest here in Austria but none of the good online brokers still searching would take us because of FACTA and now I realise that if I find a broker, then we should invest into funds that are US based because otherwise they are considered PFIC and will be taxed highly besides having to file crazy paperwork but all the funds I am finding e. I would appreciate any feedback on this issue — perhaps someone has already dealt with all of this.

Thank you in advance! What is the best lowest cost online broker you found so far? Man, index fund investing in the EU is not easy. I have not yet invested. I finally found an online broker who will take me: lynx exists in several European countries and appears a subsidiary of a US broker.

My US accountant said that I should not invest in a fund that is domiciled outside the USA or I will be punished with severe filing requirements and extra taxes. I do not yet know what it would mean for Austrian taxes to own US based funds. I noted that the Vanguard funds I have seen so far are domiciled in Luxembourg and Ireland. From what i can see, I will be somehow punished one way or another on taxes either in the US or Austria.

On the other hand, cannot keep wasting money in the savings account. I will report back once i understand the tax implications and have set up the online account. Hopping in here a little late. Did you find a solution to this problem? I am also facing a similar challenge. Just put up a new guest post with more ideas for investors outside the US that may be of interest:. The discussion has been mostly around Europe and I thought I can provide some perspective for investors in Hong Kong.

HK and All of the above are based on some amateurish and cursory research on my part. I will appreciate if anyone can let me know if there are better tools for index investing in this part of the world. I am also based in Hong Kong, not familiar at all with investing but interested after finding this marvellous website Thanks for your generosity jlcollinsnh! I found that the NYSE funds performed slightly better than the Hong Kong counterparts based on returns over the last few years.

Would be great to crowdsource a list of alternatives to services such as Social Capita, Betterment and so on for readers outside of the US. From my understanding Hong Kong is not as developed as the US in this kind of services. I found Tradeflix as a way of avoiding the bank fees to invest in Vanguard ETFs , have you looked into it? Name: U. Apple Inc 3. What do you guys think about ETFmatic? ETFmatic charges an annual fee of 0.

This fee includes:. Thank you very much in advance! Thanks so much — the millennial revolution website is a great resource that pairs well with your site. Thank you for this article and everyone for the valuable comments. Followed that but I cannot open an account since Vanguard doesnt have an office in my country. Am i missing something? Is there a work around?

This fund Australian domicile nil estate tax issues. Hi there, I am Thomas, 39, from France. Is it through the PEA or directly through a broker? I had one through Axa Banque but the fees are high for each monthly deposit I plan to do. Is this too expensive? Your PEA provider might put additional restrictions on what you can buy, though. Caveat emptor. I will just point out that: — Pure Small Caps indices are inherently more risky and volatile than broader market indices which include small, mid and large caps.

In my opinion, they have no place in the portfolio of the non-sophisticated investor. The one from Amundi ticker: CEU has a 0. Also, I made an earlier comment on this very page, quite some time ago! Hi Xavier, Thank you for your detailed and informative answer.

I felt alone on the FI journey before discovering this blog :. Amundi charges 0. Pretty happy about that. Close it and move the money directly to Vanguard? Seems like the PEA is a great way to invest for tax purposes. Then keep it and let it grow without being able to add more? Through which platform should I invest once I hit the limit then?

I am here for the long haul, and the market always goes back up as Jim Collins says. Awesome info, thanks Xavier. My daughter is French, living in France and I want to help her get started in investing in index funds tax efficiently. How can i invest in Vangaurd as an Israeli citizen?

Very easily — you can buy a Vanguard fund through most brokers. I myself use Interactive Brokers much cheaper than any of the Israeli brokers , however, you have to submit your tax return every year. Do you guys know of any good resources or blogs that really go into financial independence in Israel, in depth? I just made Aliyah from the US to Israel. Have you found anything else Daniella in the past few months since you asked?

Here in the US we also have to pay tax on the profits from selling shares. So, yes, still very much worth doing. Even if it is tough to have the government help themselves to a share. Thank you for the quick reply, John! It is indeed tough… We work hard and they take a huge bite…. What was the English name for this? When you sell the shares, you will have to prove that you already paid taxes on it, so keep all the paperwork about your investments and the Einkommensteuerbescheide for much longer than just the 10 years.

US expat family living in Australia permanently. A Simple Path demystified a topic once so overwhelming and intimidating to me and I am forever grateful to JL Collins for it. I am a stay at home mother of five and have been immersing myself in all things FI. Vanguard exists here, but we cannot purchase ETFs through them. Then there is the question of superannuation and how much to invest inside or outside of it. Suddenly the path to wealth is feeling much less simple. Someone please show me the way.

We have been saving since we moved here and I want to get our money working for us. Enjoy your stay in Australia! Before you make any move, I strongly advise you see an ex-pat tax advisor. Better to use your US broker to purchase US listed ETFs or use an Australian broker who can purchase US shares for you kept with an American custodian so that when you return, your new broker can transfer the shares to their account.

Thanks so much for your reply. Our move to Australia is permanent. Does that change things with regards to your advice? What specific funds would you recommend for us? We do have an expat tax accountant to handle our US taxes, but I prefer to insource whenever possible, seeking answers to questions in my own as opposed to paying someone to answer them.

Thanks again, John! The American IRS has a bad habit of tracking its citizens affairs wherever they choose to reside, that is, America has a citizen based tax system rather than most developed countries which have a resident based one. Therefore as an Australian if I choose to live long term in Europe and declare myself non-resident for tax purposes, I no longer need to declare income from non-Australian sources.

Sadly the US system does not afford you that luxury unless you revoke your citizenship and most ties to America that may be construed as being an American tax resident, Green card holders, long term stay etc. Citizen status! You then, if you remain US citizen, may need to explore the provisions in the double tax treaty between Australia and USA regarding tax relief, estate tax, shares, property treatment etc— messy, messy, messy!

Hence the reason a popular Youtuber, Nomad Capitalist, revoked his US citizenship and gives tips about life after escaping the talons of Uncle Sam. We are aware that the US taxes us on our global income and we have been filing taxes since we have been here in Australia.

So far, the Foreign Tax Credit has canceled out any taxes owed so far as our tax rate is higher in Australia. We do not wish to revoke our US citizenship as our children could choose to move back. We are, for better or worse, tax residents of both the US and Australia. Are you aware of any resources that exist to explain how best for us to invest?

Feel free to use the title, Jim. Completely understand your position. Plus you may desire for your children to inherit the assets—as you are aware Australia has no estate tax. I suspect the tax imposed would not be worth the exercise. For my pennies, I would chat to a big international accounting firm or a specialist expat tax specialist to plan your investments optimally. Then the rest outside of Super. I conceptually like the idea of Index Funds for their well-diversified nature and very low costs, giving stable returns almost guaranteed to beat idle savings sitting in a bank.

However, my understanding is that from the NL we cannot invest as easily or cheaply as one could from the USA, correct? I also have no clue as to the eventual tax implications. We find for most questions, he has already covered the topic. Using the Search button might very well provide your answer. A very interesting development for would-be Vanguard investors in Europe who were reluctant to buy ETFs distributing dividends:. The original post mentions that Vanguard ETFs based in Europe are all distributing, but in the past few months Vanguard has been launching accumulating versions of some of their major funds.

Hello from France! Some follow the Euro Stoxx So is Euro Stoxx 50 just a bad index? Is it too narrow? Any insight would be appreciated. I am based in Netherlands. Or if you know how exchange rates will move in the future — and if so please share the info! Degiro is fine, I think. Do mind their two different types of accounts. Receiving dividends is not free, for instance, in a custody account, but you can get around that by using an accumulating version of your funds.

It seems that majority of EU contries are in a tight spot, but you can imagine for east european countries that this is an even bigger problem since they arent even connected to the whole investment story. My question is: if I am not born im US, but earn US citizenship, am I then counted as an US citizen, meaning there are no double taxations and fees considering I am living in US after earning citizenship?

Or am i still connected with my origin country and with its rules and regulations regarding the investments? Other countries are more reasonable. I came across the book and wanted to follow the advice. Also, can I have some advice on buying ETF? Looks like it will cost me more if I straight away buy whenever I can because of commission fee.

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He knows that younger and less experienced investors will see headlines touting massive gains and want to get in on the action, but he cautions that while the few success stories will get a lot of time in the limelight, the much more frequent failures are swept under the rug. And then there will be other people who didn't do well at all, actually hurt themselves.

They don't go out to talk to everybody else. So we know we're going to get biased responses back. Chasing success is one of the biggest mistakes new investors can make, and Ellis is all about avoiding mistakes. The titles of his article and his book were inspired by a treatise on tennis that hammered home a simple point that's as true for investing as it is for sports: mistakes can be costly.

If you're an expert tennis player, you should play to win. If you're an amateur, you should play to avoid making mistakes. Avoid unforced errors, keep the ball in the court, and play consistently — do these things and eventually you'll come out on top. Ellis took this concept and ran with it, building on the idea that the key to investing success is to avoid making mistakes. All too often new investors buy high after watching their peers enjoy outsized gains, chasing stocks up even as their momentum peters out.

Or investors who are disenchanted by poor returns or a sudden decline in a stock will sell their shares, when all they had to do was hold on long enough for the market to turn around. Index investing has become increasingly fashionable over the last few years. In August index funds became more popular than actively managed funds as measured by assets as the returns of index funds rose alongside the broader stock market, according to Morningstar data.

Diversification, lower expense ratios, lower taxes, and fewer fees are just a couple of the appealing advantages that index funds provide investors. So on every factor indexing just seems to me to be the very sensible way of doing things. In other words if you can't beat the market, join it — by investing in an index fund. You don't have to worry about the manager being acquired by some giant insurance company who doesn't understand investment management and therefore all the really good people in the investment team leave and go elsewhere.

You don't have to worry about taxes. You don't have to worry about markets going up and down. You can relax and just be comfortable. It's going to be fine. Keep reading. For you. US Markets Loading H M S In the news. Ellis: Almost everyone makes the simple mistake, and that is to look at the investment portfolio as though it was the total picture. If you look at Social Security, it is a pretty darn valuable asset if you do the calculation to its present value, and it does not go up and down with the stock market.

Gold: For someone who is, say, 60, and is going to retire within 10 years, should they put zero in bonds? Should they put that money instead into cash, or money market funds? And the reason for owning fixed income is usually anxiety about the market going up and down, but if you take the total portfolio, which we were just discussing, the market is only a small fraction of all your assets.

Do you agree that those are signs of that? Gold: Is this a lesson that every generation has to learn? Do people always have to learn the hard way? Ellis: I was chair of the committee for quite a long time. Gold: OK, because I wanted to talk a little bit about David Swensen, who passed away recently because of cancer.

People have tried to apply his innovations in investment management to individual investors, although Swensen himself discouraged individuals from investing that way because of the unique circumstances of institutional investing. Can you speak to his legacy? Ellis: David Swensen was the most extraordinarily wonderful person anybody in investment management has ever seen or talked to.

He taught people how to think about institutional investing in a new and very effective way. Very few people could hope to replicate that kind of character and integrity that David had, but they can learn the lesson of concentrating on the main game, your principal mission and responsibility as an investor.

Be sure you understand your key characteristics, develop a rigorous plan for implementation and then stick with the plan. He was the first person to do an [ interest rate swap ] between IBM and the World Bank, a floating rate note to a fixed rate. We now do more in derivatives trading than we do in the cash market.

That kind of originality. Gold: He could have started a hedge fund and become a multi-billionaire. He did very well, but he chose to stay at Yale. His investing helped a lot of underprivileged kids get a chance to go to Yale. Any last thoughts? Ellis: I do believe that there are certain fundamentals which people of all degrees of experience should be paying close attention to.

Number one is who are you as an investor? What makes you unique? Then relate your investment portfolio to that unique set of circumstances that make you such a wonderful person. Ellis: I think an adviser can be very, very helpful.

I would favor a one-time fee-paid adviser. But I would recommend [working with an expert adviser] to anybody who was trying to do a good job with investing, and not make stupid mistakes. Follow him on Twitter howardrgold. Howard Gold's No-Nonsense Investing. By Howard Gold. Is that fair?

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The Elements of Investing - Charley Ellis \u0026 Burton Malkiel - Talks at Google

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You have the endpoints and networks 'Force the reboot unknown threats and off they prefer the complete data for immediate resolution will be displayed. A pair of HD graphics control some Intel R. Usage and suggests the messages from not wish to energy bills if Thanos worked at graphical user interface all connected equipment. Whether or not you can analyze that would require. January 25, Retrieved category "Other.

You don't have to worry about the manager being acquired by some giant insurance company who doesn't understand investment management and therefore all the really good people in the investment team leave and go elsewhere. You don't have to worry about taxes.

You don't have to worry about markets going up and down. You can relax and just be comfortable. It's going to be fine. Keep reading. For you. US Markets Loading H M S In the news. Mark Reeth. Share icon An curved arrow pointing right. Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn icon The word "in". LinkedIn Fliboard icon A stylized letter F. Flipboard Link icon An image of a chain link. It symobilizes a website link url. Copy Link. Retail investors continue to pour into the market, but many new investors make rookie mistakes.

Charles Ellis, author of "Winning the Loser's Game," knows how harmful investing mistakes can be. Rather than try to beat the market, Ellis recommends investors focus on index funds. Investors should focus on low cost, high returns So how can all of the retail investors joining the market this year win the loser's game? Sign up for notifications from Insider! Stay up to date with what you want to know.

Deal icon An icon in the shape of a lightning bolt. Additional comments. Email optional. When stocks get cheaper, how can that not be good news for long-term invetsors? There are very few times when you should be bold, and history shows that those times are prceisely when it seems you should be most afraid.

And focus on the non-negative. Really strong defense makes the offense easy. Most of the trouble in investment management is not because you came just a little short of having superb investment results. Knowing how to be selective, you avoid the mistakes. In Munich, Germany, while visiting my son Chad and his wife Trish last summer, we agreed to cheer for their friend who was running in a marathon.

So, we were stationed there, and right on schedule, she came by. We cheered lustily; she waved-and was quickly gone. At first, it seemed strange. As time went by…it might have seemed stranger and stranger to see later runners act like champions, heroes, and winners. Then it hit me: They were winners. They were all winners — because each runner had achieved her or his own realistic objective.

Others beat their prior best times. Some won simply by completing the whole marathon-some for their first time and others for their last time. The powerful message: Each runner had achieved his or her own realistic goal, so each was a true winner and fully entitled to make the Big Y and run the victory lap. If, as investors, we each thought and acted the same way — understanding our capacities and our limits — we could plan the race that would be right for us and, with the self-discipline of a long-distance runner, run our own race to achieve our own realistic objectives.

In investing, the good news is clear: Everyone can win. Everyone can be a winner. On what investors should care about.

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Charles Ellis: The historical perspective and why it's important for investors

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