Hey guys,
I wanted to reach out with a mid-week post to announce the release of a podcast I recorded with my previous interviewee Kris Hampton of the Power Company Climbing Podcast.
Back in Lander, Wyoming, about a month ago, Kris graciously invited me over to his home to meet in person. We’ve interacted a number of times since I began this project two years ago, but we never crossed paths. And then we pulled out some microphones.
I really enjoyed this conversation about the taboo of money, the parallels to climbing, the dilemma of being “retired” at 35, and the pitfalls of pursuing passionate work without financial security.
Listen to my interview with the Power Company Climbing Podcast here.
Do you have any opinions on investment apps? Have you written about them before?
Thanks!
Hey Josh,
Thanks for the question. I have not written about investment apps. Are we discussing something like Robinhood or something more akin to Mint/Personal Capital? For something like Robinhood, I’m admittedly a bit unfamiliar with them. However, I maintain that if you want a simple investment strategy with a dollar-cost-average approach, what value is provided by the app that can’t be achieved with just a standard taxable brokerage account through Vanguard?
The danger I see in any of these platforms (including the fan-favorite Mint and PC — which by the way are blogger favorites at least partially because of their generous affiliate programs) is that it’s all too easy. It’s too easy to see your net worth, and it’s too easy to get an itchy trigger finger. All of these platforms are fine and dandy when the market is going well. However, when it all hits the fan, I’m very leery of a system that encourages (a) easily watching my net worth crumble, and (b) making it very easy to trade in and out of my holdings.
Set-it-and-forget-it is a tried-and-true strategy that works.
Hopefully this ramble is at least partially relevant to your question!