Independent Wealth Management

One Day In July Financial Advisors

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Invest Using Index Funds and ETFs

It is bizarre that many active fund managers and financial professionals are paid so much yet cannot outperform an index fund. The average cost for owning actively managed funds in 2020 was 0.62%. We're going to minimize this fee-taking from your accounts.1 Whether it's stocks, bonds, or real estate, our financial advisors will invest you in low-cost index funds that have historically performed well versus their peers. We also consider other factors, like the liquidity of the index and the bid/ask spreads. There are thousands of index funds to choose from, and slight differences matter over time.

We generally purchase index funds as ETFs, but sometimes use the mutual fund format. Learn more about the difference here.

See our fee chart here.

Simplify Your Accounts

We want to make this simple for you. Your accounts may include taxable accounts, retirement accounts, educational savings accounts, active and legacy 401k or 403b accounts, etc. We will do the paperwork for you to move them to Charles Schwab, where we hold our clients’ money.2 In that process, we look to simplify your account setup. If you have an active 401k or 403b plan, we can manage it where it resides at your employer as part of your overall asset mix.

Diversify Your Investments

Modern investment theory echoes what your parents taught you when you were young: "don't put all your eggs in one basket." As many people learned when the markets crashed in 2008, true diversity can be elusive: they had their eggs in different baskets, but the whole hen house burned down. Your financial advisor will work with you to spread your money across asset classes, including investments like United States Treasury Bonds that generally offer diversification in a financial crisis.

Rebalance Periodically

"We all wish we had a little genie who could reliably tell us to 'buy low and sell high.' Systematic rebalancing is the closest analogue we have." ~Burton Malkiel, Princeton University. It's all easy to say, but when there is a financial crisis or a bubble, the human tendency is to do the opposite. Your financial advisor will create a rebalancing plan for you and be disciplined in executing it. At the same time, our methodology helps lower your tax bill.

Minimize Your Taxes

Warren Buffett and the Waltons didn't get wealthy trading in and out of investments frequently. They hold positions for extremely long periods of time, minimizing the tax effect of capital gains. Index funds have a tremendous advantage in this regard, as in some cases, an investor never needs to sell, deferring capital gains forever! Certain indexes should be held in specific account types for tax reasons. Minimizing the headwind of unnecessary capital gains taxes is critical to your long-term success.

Stay the Course

Most people have great difficulty staying the course in an investment strategy over a long period of time. It is almost as if humans are wired to make the wrong financial decisions: our brains constantly seek out the next dopamine hit, activity represents progress in our minds, we like to do what everyone else is doing, and we have emotions like fear and greed. None of this is helpful as an investor. (See research here, here, here, and here). Once we design a suitable investment plan, our job is to prevent you from going astray. Read why most individual investors underperform academic models.

Review Your Life

We are not computers, and neither are you. Life is going to throw you curveballs, both good and bad. We need to understand where you are in life and how you got here, your attitude toward risk, your priorities, and long-term goals. Our job is to design a prudent investment plan and financial strategy to help you end up where you want to be in the future, while seeing you through life’s ups and downs, including those of the market. After all, you don't live to make money, you make money to live. In addition to managing your investment accounts, we can also help answer your general financial planning questions. See more on ODIJ’s approach to financial planning here.

Relieve Your Stress

The financial industry is skilled at marketing its services with the promise to reduce your stress. Ironically, the way the industry’s excessive fees can eat into your savings can be enough to give you a heart attack. Our financial advisors aim to protect you from unnecessary exorbitant costs, while moderating your fear in a crisis and your euphoria in a bubble. We know it helps to have someone to turn to when everyone is screaming that the world is ending. Everyone needs guidance, reassurance and a helping hand to stay the course.

1 Sources: Bogle Financial Markets Research Center. Circular Graphic Fee Sources: Asset-weighted average expense ratio for active funds - from Morningstar's, "2020 U.S. Fund Fee Study"; One Day In July Index Fund Average Fee represents the weighted average expense ratio for a typical One Day In July client with a 75% Equity / 25% Fixed Income portfolio allocation with no direct international positions as of 3/15/2022; this fee does not include investment advisory fees.

2With the exception of 529s and certain workplace retirement plan accounts, investments accounts are held at Charles Schwab, and clients can view their accounts online through the Charles Schwab portal. We work with Schwab to ensure your account transfers from other financial firms are as seamless as possible. Assets can often be transferred over into your Schwab account in kind.

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Contact a One Day In July Fiduciary Financial Advisor.

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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.
Should I use a Donor-Advised Fund or a Private Foundation?
Compare the two across a variety of factors.
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.
Types of Investors
Investing for nurses, teachers, business owners and more.
Environmental Investing
Carbon intensity, fossil fuels.




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