Matt Dewell

@christine_benz Wow. Thanks. I hadn't heard of it. I like your takeaways- we had some of the same.

I've shared the short film "Retirement Plan" far and wide since my initial viewing. (I laughed, I cried.) I wrote about some of my main takeaways. morningstar.com/retirement/wha…

@RGMWatchCompany Nice! Congrats to you and @baldassarreted !

RGM X Teddy - Collaboration Watch rgmwatches.com/rgmblog/2026/1… #rgmwatchco #rgmwatches #rgmwatch #watch #watches #wristwatch #wristwatches #watchmaking #watchmaker #independentwatchmaking #independentwatchmaker #guillochedial #cadranguilloche #engineturneddial

@bogleheads Thanks! Nice job with the interview @christine_benz ! "The first few were softball questions.." Haha. Great stuff!

@bogleheads3687" target="_blank" rel="nofollow noopener">youtube.com/@bogleheads3687 The first conference session features our own Christine Benz interviewing Vanguard's new CEO, Salim Ramji, including covering the hard questions many investors are asking. 2/x

The first video from the 2025 Bogleheads® conference will be released on Sunday, December 21st at 9:00 AM Pacific time. You can find it on our YouTube channel: 1/x

The International Space Station was captured gliding across the face of the moon (shown in slow motion)

@JonLuskin OK thanks Jon. I'm looking forward to watching your BH conference session on YT when it drops. (I'm subscribed!)

@google_fu It really depends. My default is an all-in-one fund. I argue that there needs to be a really good reason for the additional complexity of something else. (Sometimes there might be.)

Building a tax-efficient portfolio requires careful consideration of your investment strategy. It's not just what you invest in. Here are two key principles: 1. Limit Fund Distributions with Broad, Low-Cost ETFs Nearly all funds make taxable distributions. Your goal: minimize them. •Broad, low-cost index ETFs are usually best—they’re less likely to generate capital gains compared to narrow or actively managed funds. •The broader the fund, the lower the yield tends to be, which further improves tax efficiency. •🚩 Funds marketed for “income generation” (think $JEPI, etc.) may sound appealing but are generally a bad idea, especially if tax efficiency is the goal. 2. Use Fewer Funds The more funds you hold, the more rebalancing you’ll need to. Every time you sell winners to buy losers, you may generate a tax bill. Example: •Simple portfolio: $VTI (total U.S. stock market) + $VGIT (high-quality bonds). •Complex portfolio: $VOO (S&P 500) + $VO (mid-cap) + $VB (small-cap) + $VGIT. Together, these stock funds approximate $VTI. Now imagine a flat year for markets: •With the simpler portfolio, there’s little need to rebalance. So, there’s no taxable gains. •With the complex portfolio, VOO may outperform while VO and VB lag. Rebalancing means selling VOO, realizing gains, and paying taxes. 👉 Both portfolios end up with similar allocations, but the simpler one is far more tax-efficient.

@JonLuskin Thanks!

@google_fu I do! Be sure to subscribe to our YouTube channel so that you don't miss it when it goes live 👇 @bogleheads3687?si=4kxz90JNPGqcFdMt" target="_blank" rel="nofollow noopener">youtube.com/@bogleheads368…

I received some great feedback after my presentation on all-in-one funds at this year’s Bogleheads® Conference. Several attendees approached me afterward with questions about moving to a true no-touch investment approach. One younger investor told me he had been on the fence about making the switch… but my talk pushed him over. “Great!” I told him. “Now that you’ve simplified your investments, you can focus on much more urgent and important projects. For most younger folks, that starts with individual disability insurance.” After working with hundreds of do-it-yourself investors, I see this all the time: When we obsess over optimizing our investments, we often ignore the far more critical areas of financial planning, like estate planning and insurance. That’s one of the biggest benefits of all-in-one funds: By keeping your investments simple, you free up your time, energy, and attention for the things that matter most. And those things almost always have a bigger impact on your financial life than squeezing a few extra basis points out of your investments.

@JonLuskin Thanks to both of you for all you do!

Grateful for this amazing woman and the countless other volunteers who made the 2025 Bogleheads conference possible! It was a new level of record attendance, with the event going off without a hitch! I look forward to seeing many of you next year, at the 2026 conference - in Las Vegas!

@mccloskeybooks @wwnorton Artemis is the greatest! Glad she’s coming back. I’ll check out this book while I’m waiting. All the best!

Big news…

@christine_benz I've only ever been a dog parent, but if I had a child, I think you would be a terrific role model for young women (and men also.) No question.

Since Jane Goodall's passing last week, I've been thinking about what a stellar role model she was for young girls/women. It made such an impression on me to see this (then-young) woman so serious and fully committed to her research and work. Are there equivalents today?

The person with $10M who thinks they need $20M will always feel poorer than the person with $100k who thinks they need $50k. The most expensive thing some people own is their ego.

@christine_benz @dollarsanddata @AmyCArnott1 @bogleheads It is!

@google_fu @dollarsanddata @AmyCArnott1 @bogleheads I love that, Matt! The @bogleheads conference is conducive to exchanges like that. That’s when we met, too!

"The Wealth Ladder" by Nick Maggiulli @dollarsanddata is available as of today, and @AmyCArnott1 were thrilled to interview Nick for "The Long View" podcast. 👇 I hope that you'll enjoy the conversation as much as Amy and I did! morningstar.com/podcasts/the-l…

@christine_benz @JLCollinsNH Thanks Christine. And thanks for asking the international exposure question. I was curious about that myself in light of this year's events. I think that is one of the few things I disagree with him on. His book is still one of my top recommendations to people!

I’ve loved getting to know @JLCollinsNH these past few years, and applaud his efforts to tear down the financial complexity complex. We had a wonderful conversation about the second edition of “The Simple Path to Wealth,” which has been a runaway success since its publication. 👇🏻

Gabriel Basso ruminates on his role as an actor in #TheNightAgent 🤣 #FallonTonight

A Marriage Proposal Spoken Entirely in Office Jargon mcsweeneys.net/articles/a-mar… 🤣

I want to share something with you that might feel a little bit heavy. You may also wonder what it has to do with money. The truth is, it doesn’t have anything to do with money. Not everything I share does. In fact, this has to do with something more valuable than money, and that’s how we treat each other. So let me tell you a story. Years ago, I was in the airport when I found out one of my best friend's mother had just died quite suddenly. She was at dinner with a friend, felt sick, and was gone within a few hours. I learned this through a message from my mom, who heard about it on the local news. I called my friend. Imagine this scene for a second: There I am, in Terminal 2 of the San Diego airport, calling someone whose mother had just died. He answered. He was crushed. We cried. His mom was one of the few people who always saw past my stupid behavior in high school. She always loved and accepted me, despite my being quite unlovable at the time. She gently influenced me to be better by not trying to influence me at all. She was amazing. My friend knew that better than anyone. He told me about her last moments in the hospital. He told me about begging the doctor to do more. Life. Is. Heavy. And then I boarded a plane. I thought about everyone else on the plane. I wondered if the airline employee scanning my boarding pass could see that I had been crying. Were my eyes red? Swollen? I wondered if there would be room for my bag in the overhead bin. If the person next to me would be nice. In that moment, I couldn’t help but think about how odd the situation felt. All around me were strangers. I knew no one. And as far as I knew, no one had any idea what I was dealing with. I thought about the flight attendant, the man sitting next to me, and the woman across the aisle. Did they have a sick child or a friend in the hospital? Were they on that plane in a race against time? What about the person who had been yelling at the gate agent or, for that matter, those who were yelling on Twitter while I checked it standing in line? As I turned away and stared at the Pacific Ocean through the little window from my seat on the plane, I was left with a bunch of grief and two big questions. What burdens are all the people on this plane carrying? And how would I treat them differently if I knew? In the moment, this was a very emotional experience. I wanted to treat everyone the way we all deserve to be treated. I wanted to give everybody room. I wanted to be more patient. What’s crazy is that just a week later, I was rushing through another airport and tapping my foot impatiently as the guy in front of me fumbled with his things in the security line. That feeling of goodwill faded away so quickly. I don’t want it to fade away. I want to hold on to it. How do we do that? How do we hold on to that feeling of goodwill? I don’t know the answer… but I do think asking the question is a good start.

Ho Ho Ho

Please enjoy these ducks changing their minds.