A Heartfelt Thought

I was going to write about something else this week. But while I've been working as fast as I can to dump the seriously underperforming, high fee mutual funds out of new clients' portfolios, I saw that the penthouse of the most expensive address in NY real estate was sold. Here's the building, 432 Park Ave:

Curious, I looked it up. The buyer? The chairman of one of the largest actively managed mutual fund companies in America.

My accounting professor in college, Uwe Reinhardt, once said, "you can learn a lot in life by following the cash flow."

There are two ways this insanity stops for Americans. The first is through regulation. While the regulators I have met so far have been personally impressive, the financial industry has enough influence on politicians to mitigate real reform. I expect this will be the case going forward, no matter what party controls the federal government. I am not hanging my hat here.

The second approach is to take away the industry's cash flow. This is far more dangerous from their perspective because there isn't much they can do about it. And once consumers realize what is happening to them and switch to indexing, they almost never go back. This is the essence of One Day In July: by getting between the investor and the industry, we cut off the the industry's lifeline, and our clients get the rewards.

Should this spread, it will leave the traditional industry in quite a pickle. People I know in New York finance have told me executives at financial firms are worrying about indexing more than anything else.

To me, One Day In July is more of a mission than a business. But I (and soon "we") will need your help. Almost everyone is being afflicted by this, and it's time normal people stop giving up their retirements, their charitable giving, and their safety nets for the folks at 432 Park Ave.

What can you do? Don't be afraid to talk to people you know about money, and what you learn here. Others have to hear somehow what is going on, and I'm not going to be able to deliver the message alone. It will have to spread from person to person, like a wildfire. Or maybe, given that I'm in Burlington, like a cold wind from the North. (thanks for that one, Game of Thrones)

Have a nice holiday. I'll drop one more Friday newsletter at the end of the month wrapping up 2016. Plans for 2017 are already well underway, and it is going to be a whopper of a year.

Return to Articles
How We Are Different
Low-fee index funds. Transparent & fiduciary financial advisors.
Local Financial Advisor
We are in your community. We are local.
Investment Management
We tailor to each client. Index funds at the core.
Index Funds
Broad market exposure, low expense.
Dan's Corner
Meaningful musings from our founder.
Your best interests are our priority.
Low Fees
Our fees are among the lowest in the nation.
Financial Planner
Financial advisor optimizes your financial picture.
U.S. Treasury Bonds
Use Treasury Bonds to reduce risk.
Book Recommendations
Here are some of our favorites.
What is inflation, and what causes inflation.
When Should I Invest?
Life transitions = important financial decisions.
Retirement: 401k and More
Retiring? Plan the future you want.
IRA Rollovers
401k Rollovers. IRA Rollovers
Active vs. Passive Investing
We believe there is a winner in this debate.
The Investment Process
How we work: low-cost index funds, personalized attention.
Simplicity is the ultimate sophistication.
Investing: What to Focus On
Low-fee index funds. fee-only advisor.
Switching Financial Advisors
Can be uncomfortable, but an important step.
Advisor Recruiting
We attract top-tier talent. Not your usual firm.
Basic Investing
Let's start with Investing 101.
Understanding Your Financial Statement
Let's break it down to basics.
Taxes on Investments
What causes taxes within your investments?
Behavioral Economics
The less emotion, the better.
Timing the Market in 2020
2020 - a case study in the futility of market timing.
How Financial Firms Bill
Fee-based vs. fee-only, and lots more.
Who Supports Indexing?
Bogle, Swensen, Buffett, and others.
One click to see our fees.
Mutual Funds vs ETFs
Clarifying the difference.
Does Stock Picking Work?
The research says no.
Countering Arguments Against Index Funds
What happens in a down market?
Lots of fees, little clarity.
How Do Mutual Funds Work?
Invest in the basket.
How to Relieve Financial Stress
New client? anxiety is normal.
Financial Terms Glossary
Common investment terms you should know.
Firm Comparison
One Day In July vs the competition.
Retirement Investing
Retiring? Let us help.
Accounts We Manage
We manage a wide range of investment account types.
Pay Yourself First
Saving and Investing for the future.
Investing an Inheritance
Prioritizing and planning for the future.
Frequently Asked Questions
Good questions, real answers.
Women and Investing
Your voice needs to be heard. We are listening.
For the Business Owner
Choosing what's best for your business.
Environmental Investing
Carbon intensity, fossil fuels.




United States



401k Plans



Account Types


Cash Flows

Low Fees


Dedicated Advisor


Advisors: Join Us


Articles on Investing

About the Secure Act

Quarterly Booklets


Vermont Investment Management

Vermont Retirement Planning

Vermont Wealth Management

Vermont Financial Advisors

Investment Tools

In the Media

Shelburne, VT Financial Advisor

Frank Koster | Josh Kruk | Keith McCarthy

5247 Shelburne Rd, Suite #101

Shelburne, VT 05482

(802) 777-9768

Stowe, VT Finanical Advisor

Available for meetings in Stowe.

Peter Egolf

(802) 999-2321

Burlington, VT Financial Advisor

Hans Smith | Katie Bensel

Nancy Westbrook | Peter Egolf

77 College Street #3A

Burlington, VT 05401

(802) 503-8280

Darien, CT Financial Advisor

Available for meetings in Darien.

Keith McCarthy

(203) 554-9466

Rochester, VT Financial Advisor

Available for meetings in Rochester, VT and surrounding area.

Carrie McDonnell

(802) 767-7665

v 2.2.12 | © One Day In July LLC. All Rights Reserved.