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You can’t invest your way out of debt

Happy Wednesday Money Nerds!

We are still basking in the glow that is FinCon (it ended on Sunday) and seeing all of our other money nerd friends. If you love personal finance and FinCon ever comes to you, getting a Community Pass is a great way to meet some of your favorite creators. It’s going to Long Beach next year so all you LA-adjacent Cali folks can stop by!

Today’s articles run the gamut of subjects but they are all good and you should find something in there that resonates!

Your Financial Order of Operations: Where in the Hell Do I Even Begin? [The Dumpster Dog Blog] – “I know that “building wealth” sounds kinda intimidating and out of touch. When I say “building wealth,” I’m actually talking about freedom. I am talking about putting ourselves in positions where we won’t have to work forever. I’ll say it again: WEALTH = FREEDOM. Sometimes, it helps to reframe—from now on, think of “building wealth” as “building towards my freedom.” What would you do with your life with financial freedom? That’s where I begin, and do some reverse engineering from there.” If you want some fun real talk on your financial order of operations, you’ll get it here.

This image, from the post, should wake you up too if you have credit card debt:
No combination of investments will beat credit card debt

Measuring the All-In Fee of Top Investment Advisors [Movement Capital] – “I went through ADV disclosures for each of the top 100 RIA firms in the InvestmentNews database. I then excluded family offices with high minimums and firms with variable pricing not clearly broken out into tiers. Some of the firms include financial planning in their fee and most firms have discretion so clients might pay less than the public fee.” The specifics of this are less important than the implication – if you work with an advisor you have to look at more than just management fees. You have to look at implementation costs too because they are not inconsequential (around 50 basis points). This is one reason why robo-advisors are enjoying their moment in the sun.

Tips from 16 years of working from home [A Whole Lotta Nothing] – “The most important thing that made this a stable, reliable, and workable option in my life was getting a dedicated room in my house set aside for work. Having a home office with a door that cut me off (mostly) from whatever else was going on in the house was key to making it all work.” Matt Haughey has been working from home for quite a while and as someone who works from home, I found his advice was spot on.

If you like treasure hunts…

There’s a Treasure Chest Worth Millions Hidden Somewhere in the Rocky Mountains. These Searchers Are Dedicating Their Lives and Savings to Finding It [Money] – “For Fenn treasure hunters like Meachum, the search is no myth. It requires real commitment, and perhaps more importantly, it requires real money. From hiking boots to hotel rooms, the costs can add up quickly. Meachum recently calculated that she spent more than $10,000 on the chase last year alone — to her, a small price to pay for an “incredible adventure” that’s still unfolding.” Forrest Fenn thought he was going to die of kidney cancer so he cast a bronze chest and filled it with gold coins, placer nuggets from Alaska, pre-Columbian animal figures and Chinese jade faces. Then buried it somewhere in the mountains.

HOW CRAZY IS THAT!?!?!?!?

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