August 28, 2014

Vanguard Goes for Brokerage

It hasn't been a particularly busy week from an economic signpost point of view, but it has been a record week as the S&P 500 index has hit a couple of consecutive records before falling back a bit today. The biggest news was probably today's second-quarter GDP revision. After first-quarter GDP was revised from a 2.9% contraction to a 2.1% contraction, second-quarter GDP has now been revised up from 4.0% to 4.2%. The economy definitely rebounded after the winter chill, and it appears more growth is on the way. Read More »

August 2014 PDF

Long, Slow Grind

The economy is in a long, slow grind higher. Whether it's GDP, labor, or personal incomes, we're grinding higher on most or all fronts. I continue to believe that a 10% correction would be a healthy setback and would knock some of the fluff out of stock prices. In addition, since Wall Street tends to throw the babies out with the bathwater during corrections, our managers would be like kids in candy stores given the pricing dislocations. So, I say 'bring it on.' Read More »

July 30, 2014

Inversions Hurt Individual Investors, Too

As U.S. corporations move offshore to potentially avoid billions in U.S. taxes—$19.5 billion in tax revenues over the next decade, according to the Joint Commission on Taxation, a non-partisan congressional research panel—they are sticking their shareholders with an unexpected tax burden over which investors have no control. Read More »

Most Recent Forum Threads
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Re: A Thought for the Day

Not Law (09-01-2014) wrote: Another thing misleading on the chart. The age 70 benefit of $3486 needs to have 8 years of COLA, so it is more like $4200 or over $50,000 per year to start. Making break even around 79. Read More »


Re: A Thought for the Day

Not Law (09-01-2014) wrote: I think the cumulative benefit argument is a red herring. One needs to be primarily concerned with cash flow, which includes tax ramifications. And a totally ignored consideration: Which alternative will best protect a surviving spouse? It makes more sense to draw down (and/or convert to... Read More »


Re: A Thought for the Day

butwait (09-01-2014) wrote: Why I Will Start Social Security At Age 62 Summary • When should I start Social Security? • How will I receive the highest annual income? • How will I receive the highest cumulative income? • When will I be able to retire? Every year, more than 2 million people turn 62. Many of those people will wonder, "When should... Read More »

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Daniel P. Wiener is editor of The Independent Adviser for Vanguard Investors, a monthly newsletter that keeps abreast of recent developments at Vanguard, and the annual FFSA Independent Guide to the Vanguard Funds. Through his newsletter and guide book, Dan helps tens of thousands of Vanguard investors choose wisely among more than 100 Vanguard mutual funds. The Adviser is a five-time winner of the Newsletter Publishers Foundation's Editorial Excellence Award. View More »

Vanguard Funds Correlation
What's This?
Model Portfolio Performance
Models July YTD
Growth -2.6% 4.1%
Conservative Growth -2.2% 4.5%
Income -1.1% 5.1%
Growth Index -3.1% 3.3%
The average
Vanguard investor
-1.3% 4.6%
Past Performance »