Why Even Vanguard’s Mutual Funds Cost More Than You Might Think

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Authors Kurt Vonnegut and Joseph Heller were chatting at a party on Shelter Island.

Their host was a billionaire hedge fund manager.

At one point, Vonnegut says to Heller, “You know, this billionaire makes more money in one day than you made in your whole lifetime from your novel Catch-22.” 

Heller responds, “Yes, but I have something he will never have…enough.”

Catch-22 wasn’t just read by a few of Heller’s sympathetic friends. It has sold more than 10 million copies.

John Bogle tells this story in his 7th book, Enough

He says that mutual fund companies–like that hedge fund manager–just can’t seem to stuff enough money in their wallets.

 Image Courtesy of Pixabay

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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I’m happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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