Inside Out Money
039. What’s in our wallet? Our index funds, accounts, and more!
Jan 8, 2024
The hosts discuss their financial accounts, including high-yield savings, 529s, and brokerage accounts. They compare Wealthfront and Ally Bank for savings accounts and touch on 529 plans and 401K options. The chapter focuses on investment portfolios and the allocation of funds, particularly in index funds like Fidelity 500 and Vanguard Growth Index. They discuss the benefits of following market returns and the composition of the funds. The speakers also discuss their investment accounts and strategies.
38:15
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Quick takeaways
- The hosts discuss various types of accounts and financial tools they use, including high-yield savings, 529s, brokerage accounts, and credit cards, emphasizing the importance of choosing the right accounts for specific financial goals.
- Maggie and Andrew share their preferred index funds for investing, with Maggie mentioning VTSAX and FCROX, and Andrew emphasizing the simplicity of his approach by investing mostly in VTSAX, highlighting the value of a simple portfolio.
Deep dives
Different types of accounts and financial tools mentioned in the podcast
In this episode, the hosts discuss various types of accounts and financial tools they use. Maggie mentions using a personal finance app called Wealthfront for her savings and emergency fund, as well as a referral program that offers high interest rates. Andrew mentions using Merrill for his company's 401(k) account and Bank of America for a local checking account. They also discuss the Georgia 529 plan and the importance of rolling over 401(k) accounts when changing jobs. Maggie talks about her experiences with Fidelity, including using a checking account for easy access to cash, and her preference for index funds like VTSAX and FCROX.
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