Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

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sleepysurf
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Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Wed Jun 13, 2018 2:16 pm

My 86 y/o widowed mother has been self managing her (low 6 figure) portfolio at Fidelity. She's making ends meet with her ~27% equity asset allocation, but it's a hodgepodge of 8 overlapping funds (mainly domestic large caps); some with high E.R.'s. She's "old school" so has been "chasing performance and high-dividends" for many years, but has (finally) agreed to let me help her simplify and re-allocate everything. I suggested moving everything into the Vanguard Target Retirement Income Fund (VTINX), which is 30% equities, but she's leery of having International exposure, and having "only one fund" that doesn't yield high-dividends. She isn't interested in reading anything about investing, nor watching the Bogleheads video series.

We have 10 hrs of driving planned this weekend, so I'd like to play a few podcasts for her, covering the basics of asset allocation and the concept of "Total Portfolio Return." We'd then have a casual conversation about my portfolio recommendation.

Thus far, I've got a couple Dough Roller podcasts on the playlist (#25- Asset Allocation, and #26- How to Pick Mutual Funds), and an interview with Bill Bernstein (on "The New Retirement" podcast). Any other suggestions for BASIC podcast episodes, particularly something addressing "Total Portfolio Return?"
Last edited by sleepysurf on Wed Jun 13, 2018 8:20 pm, edited 1 time in total.
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pennywise
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Re: Recommendations for specific "Boglehead" podcast episodes (for elderly mother)

Post by pennywise » Wed Jun 13, 2018 5:18 pm

Maybe an episode of Stacking Benjamins? I don't particularly like the first few minutes when the host jokes and rambles, but that's usually followed by a pretty interesting discussion, guest expert or panel of authorities talking about finance related topics.

columbia
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Re: Recommendations for specific "Boglehead" podcast episodes (for elderly mother)

Post by columbia » Wed Jun 13, 2018 5:23 pm

I would certainly listen to a weekly Bogleheads podcast. :P

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Re: Recommendations for specific "Boglehead" podcast episodes (for elderly mother)

Post by JoinToday » Wed Jun 13, 2018 5:31 pm

sleepysurf wrote:
Wed Jun 13, 2018 2:16 pm
My 86 y/o widowed mother .......
She isn't interested in reading anything about investing, nor watching the Bogleheads video series.

We have 10 hrs of driving planned this weekend, so I'd like to play a few podcasts for her, covering the basics of asset allocation and the concept of "Total Portfolio Return." We'd then have a casual conversation about my portfolio recommendation.
.......
Are you sure podcasts are the right approach for your mom to learn? The problem I see (and have) with tapes/podcasts/etc is that if you miss something or don't understand something, much of what follows may not make any sense. I guess if she is engaged, stops the podcast (I assume you stop it) and asks you questions, and maybe you rewind it a little bit, it might be more useful.

For me, a picture is worth a thousand words, and the ability to stare a something a little bit and ask questions is the best way I learn.

I made almost no headway with my mom. I wish you luck
I wish I had learned about index funds 25 years ago

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sleepysurf
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Wed Jun 13, 2018 8:19 pm

JoinToday wrote:
Wed Jun 13, 2018 5:31 pm
... I guess if she is engaged, stops the podcast (I assume you stop it) and asks you questions, and maybe you rewind it a little bit, it might be more useful...
That's my plan.

Also, I changed the thread title to "Boglehead-like" podcasts. I, too, would love an official "Boglehead Podcast."
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sleepysurf
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Wed Jun 13, 2018 9:00 pm

Not a full podcast, but I found this good NPR segment with Jonathan Clements talking about Mutual Fund returns, and also Target Date Funds... https://www.npr.org/templates/story/sto ... d=18017053
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FiveK
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by FiveK » Wed Jun 13, 2018 9:34 pm

There are these: Video:Bogleheads® investment philosophy - Bogleheads.

Don't know if they are downloadable for viewing while in a car...?

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by mxs » Thu Jun 14, 2018 11:15 am

When flash was the common video player for internet use (YouTube, websites, etc) you could load a video file from your temporary internet files (or save the file) and play it using a flash video player. I am sure there is a way to do this with those videos, it just may be another method/player now.

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Thu Jun 14, 2018 11:44 am

I'd rather not play videos in the car, as audio-only podcasts are less distracting. Plus, I've tried getting her to watch Rick Van Ness' videos in the past- no luck.

The specific podcasts I've found so far should be sufficient. Only topic missing is Total Portfolio Return vs. just Dividends/Income.
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by Oddball » Thu Jun 14, 2018 1:09 pm

Not sure it is as in depth as you are looking for, but it is good over-view of index fund investing and the reason I first heard about it. Might be a good first podcast to let her hear on the subject.

Freakonomics podcast episode "The Stupidest Thing You Can Do With Your Money"

http://freakonomics.com/podcast/stupidest-money/

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by FrugalInvestor » Thu Jun 14, 2018 1:19 pm

I think I might look for a solution that simplifies her investments but takes her concerns into account rather than trying to change her whole philosophy of investing. Ending the performance chasing and high expenses is going to make the largest positive impact. I don't think that focusing on domestic equities (especially at a relative low allocation %) and even those with higher dividends is going to make a huge difference, especially at her age.

Older people are facing enough loss of independence just as a natural result of the aging process. Adding to that unnecessarily is adding insult to injury. If you present your case and she agrees that's fine but I wouldn't push it too hard.
IGNORE the noise! | Our life is frittered away by detail... simplify, simplify. - Henry David Thoreau

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by onthecusp » Thu Jun 14, 2018 1:24 pm

Paul Merriman has some pretty good advice, speaks clearly and understandably, but there are lots of podcasts to choose from. You probably also need to avoid descriptions of his Ultimate buy and hold portfolio, not because it is bad IMHO, but because you and your mother probably need to head for more simplification.

On page 4 of his list:

https://paulmerriman.com/podcasts/page/4/

There are a few starting with "How to avoid the 20 most common Investment mistakes retirees make." I'll bet total return vs dividend is addressed in there somewhere.

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Thu Jun 14, 2018 1:58 pm

Oddball wrote:
Thu Jun 14, 2018 1:09 pm
...Freakonomics podcast episode "The Stupidest Thing You Can Do With Your Money" http://freakonomics.com/podcast/stupidest-money/
Perfect!! Thanks!
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by dharrythomas » Thu Jun 14, 2018 7:23 pm

Oddball wrote:
Thu Jun 14, 2018 1:09 pm
Not sure it is as in depth as you are looking for, but it is good over-view of index fund investing and the reason I first heard about it. Might be a good first podcast to let her hear on the subject.

Freakonomics podcast episode "The Stupidest Thing You Can Do With Your Money"

http://freakonomics.com/podcast/stupidest-money/
I strongly recommend this podcast to everyone with the slightest interest in podcasts or money.

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BL
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by BL » Thu Jun 14, 2018 9:32 pm

Please follow her cues and don't bore her to death with this. I could be in her place in a few years and I just might hate it, and I am interested in the subject! Just talking about you and your family or asking about family history could be so worthwhile.

Maybe give her Jane Bryant Quinn's How to Make Your Money Last, which is a handy reference when you want to look up a finance subject. The author has written for AARP and other magazines over the years, so your mother may have run across her writings. It is easy to read but has lots of common sense and Boglehead-like advice. Sometimes older folks prefer to read and re-read on their own time schedules.
Last edited by BL on Thu Jun 14, 2018 11:49 pm, edited 1 time in total.

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by Coato » Thu Jun 14, 2018 10:23 pm

The William Bernstein guest appearance on the Meb Faber podcast is really great. Basically two very smart men advocating for a simple approach. If you need anti-dividend shock therapy there is also a Larry Swedroe episode on the Meb Faber show. It thoroughly debunks dividends but it doesn’t sound like your mom wants to get into factor loads. He has some really good insights on the show you could pause and discuss.

I usually find the Money for the Rest of Us podcast the most thought provoking about general topics.

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by peterinjapan » Thu Jun 14, 2018 11:14 pm

Another vote for Paul Merriman, I love the guy even though I'm younger than most of his target audience.

I personally love The Investor's Podcast, but it's probably not right for Mom.

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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Fri Jun 15, 2018 6:36 am

Thanks to all for the great suggestions! We're hitting the road shortly. I'll report back on how it went next week!
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by sleepysurf » Mon Jun 18, 2018 1:59 pm

Success! She listened to TWO podcasts. First was the Freakonomics "Stupid Money" episode. She actually had me pause it at various times to ask questions. Second was the the "New Retirement" episode with Bill Bernstein, which also prompted some questions. That's all it took for her to finally understand that "chasing performance and yield" with a bunch of overlapping "active" funds isn't optimal, and agreed to get together next week to discuss my proposed reallocation of everything to VTINX.

Biggest surprise was her asking me to download Stitcher onto her Android smartphone, so she can start listening to various (non-financial) Podcasts on her own. My daughter started calling her "High Tech Grammy!" :D
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Re: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)

Post by FrugalInvestor » Mon Jun 18, 2018 2:20 pm

That's great to hear and I'm glad I was wrong. I give her a lot of credit (and you too)!
IGNORE the noise! | Our life is frittered away by detail... simplify, simplify. - Henry David Thoreau

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