Humbly Received
EVEN AS I'VE WRITTEN regularly for HumbleDollar over the past year, I���ve also learned a lot from the other writers. There have been specific tips I���ve picked up, as well as more general strategies that have influenced my thinking.
For instance, John Lim and others have touted the benefits of Series I savings bonds, with their virtually risk-free interest rate, currently set at a whopping 7.12%. My wife and I took the plunge, opened TreasuryDirect accounts and bought the maximum allowed.
The comments on articles can likewise be helpful. Recently, a reader mentioned that, thanks to a couple of promos, he was getting 1.1% on his Marcus online savings account. My Marcus account was yielding 0.5%, so this got my attention. I referred my wife and she opened a Marcus account, getting us both a 0.5% interest bonus for three months. Then we joined AARP, which got us another 0.1% for two years.
Adam Grossman���s article on how to analyze the total cost of owning a particular mutual fund is a great tool. I���ve used it in deciding whether to sell some actively managed funds I bought decades ago and which now have significant unrealized capital gains.
Charles Ellis���s recent article on fees reinforced, in a dramatic way, my belief in a low-cost index fund approach. His same logic applies to fees paid to an advisor, strengthening my resolve to stay with my do-it-yourself approach for as long as I have enough marbles remaining.
More generally, just seeing so many HumbleDollar contributors and commenters embracing the same basic principles���start early, keep fees low, diversify, trade infrequently, maintain a healthy cash reserve and so on���has been helpful. It reinforces what I���ve personally learned, often the hard way, and gives me confidence that I���m on the right path.
Sometimes, the dividends paid by the site are unique and completely unexpected. A while back, I mentioned my hobby of collecting pocket knives, and how I sell some of them each year to benefit organizations that help our canine friends.
A reader with a knife question got in touch. He had owned an unusual pocket knife decades ago, but sadly lost it. He asked my help in finding a replacement. The pocket knife gods were with us. I found one on eBay, and also gave the reader some eBay tips I���d picked up over the years. He won the auction for the knife and, to show his gratitude, made a contribution to a very worthy dog organization I���d mentioned in my article.
For instance, John Lim and others have touted the benefits of Series I savings bonds, with their virtually risk-free interest rate, currently set at a whopping 7.12%. My wife and I took the plunge, opened TreasuryDirect accounts and bought the maximum allowed.
The comments on articles can likewise be helpful. Recently, a reader mentioned that, thanks to a couple of promos, he was getting 1.1% on his Marcus online savings account. My Marcus account was yielding 0.5%, so this got my attention. I referred my wife and she opened a Marcus account, getting us both a 0.5% interest bonus for three months. Then we joined AARP, which got us another 0.1% for two years.
Adam Grossman���s article on how to analyze the total cost of owning a particular mutual fund is a great tool. I���ve used it in deciding whether to sell some actively managed funds I bought decades ago and which now have significant unrealized capital gains.
Charles Ellis���s recent article on fees reinforced, in a dramatic way, my belief in a low-cost index fund approach. His same logic applies to fees paid to an advisor, strengthening my resolve to stay with my do-it-yourself approach for as long as I have enough marbles remaining.
More generally, just seeing so many HumbleDollar contributors and commenters embracing the same basic principles���start early, keep fees low, diversify, trade infrequently, maintain a healthy cash reserve and so on���has been helpful. It reinforces what I���ve personally learned, often the hard way, and gives me confidence that I���m on the right path.
Sometimes, the dividends paid by the site are unique and completely unexpected. A while back, I mentioned my hobby of collecting pocket knives, and how I sell some of them each year to benefit organizations that help our canine friends.
A reader with a knife question got in touch. He had owned an unusual pocket knife decades ago, but sadly lost it. He asked my help in finding a replacement. The pocket knife gods were with us. I found one on eBay, and also gave the reader some eBay tips I���d picked up over the years. He won the auction for the knife and, to show his gratitude, made a contribution to a very worthy dog organization I���d mentioned in my article.
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