Vanguard Raises Fees, What is "Velocity Banking," and Crypto Yielding 19.55 Percent! SB1553

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Education, Money, Retirement, Cfp, Business, Personal Finance, Investing, Financial Planning

4.4 • 2K Ratings

🗓️ 31 July 2024

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the world's largest money management companies is raising fees AND has a new CEO from a competing firm. Are times a-changin' at Vanguard? We'll dive into all of the behind-the-scenes action, and discuss how this just might affect your wallet. Of course, we'll widen the argument for those of you NOT at Vanguard. If your money is with another firm, what happens when there's a change at the top? What should you look out for when it comes to prudently deciding whether it's time to move your nest egg?

Plus, in our TikTok minute, one crypto is paying a walloping 19.55 percent! Cowabunga! Should you back the truck up and shovel money in? We'll share our thoughts.

And we take a call from a Stacker wondering what "Velocity Banking" is all about? How does it work, and if you can use this method to pay off your loans faster, should you jump in?

All of that AND Doug's trivia on today's show!

FULL SHOW NOTES: https://stackingbenjamins.com/vanguard-changing-course-1553

Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at https://www.stackingbenjamins.com/201

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Transcript

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0:00.0	They're dogs and they're playing poker.
0:04.3	Ah!
0:05.5	Ha!
0:06.5	Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha.
0:13.2	Live from Joe's mom's basement, it's the Stacking Benjamin Show.
0:33.6	I'm Joe's mom's neighbor, Doug, and on today's show a huge headline.
0:40.7	Industry heavyweight Vanguard is ushering in a new CEO, and his pedigree isn't just low-cost index funds. What does that mean for your, heck, what does it mean for our money? We'll share.
0:46.8	Plus, we'll answer a question from one stacker who thought, you know what, I'd better call
0:51.2	Saul. See, hi, and OG, about a hot banking topic called velocity banking.
0:57.3	Is this too good to be true?
0:59.3	And you already know, Stacker, that I'd never, ever let a show end without sharing some of my
1:05.6	incredible trivia.
1:07.6	And now, two guys who are about to bring the noise. Okay. It's Joe and O Jujit,
1:21.0	Jujit, J. J. J. J. Yes, we are. Yes, we are.
1:30.3	Always with a Z.
1:31.3	It is with a Z. Even in the script, it's with a Z.
1:34.3	Hey, everybody, we are fired up and ready to go. It is Wednesday and you are here.
1:39.3	We're so happy you're with us. Welcome to the Stacking Vegman Show, the greatest money show on earth. And the circus OG is about to begin because we've got some great stuff. New CEO at Vanguard. New CEO.
1:55.0	Is the world going to change? No. Things going to be different. No. No? You're predicting that. I don't know.
2:01.8	I don't know.
2:02.9	Wait, T.
2:03.2	Do you know who the guy is?
	...

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