Why I Take Responsibility for my Investments (an argument in favor of taxable accounts).
My grandfather served this country in the military.
Yet he does not get any retirement dollars because the military claims that the records which shows his service were lost when the building holding them caught fire and burned to the ground.
He had over twelve years of service, and is only credited with one year.
Despite obtaining letters from his previous officers attesting to his service, he is not allowed to reestablish a claim to the years that he endured in the military.
After he left the armed forces he became an officer of the law. When he left his job he was given six thousand dollars in retirement pension. That is total dollars.
He claims that the entire police pension was in Enron, and they lost it all when the company went belly up.
This man can barely walk and is over seventy years old. After two highly successful careers he has little to nothing to show for it.
With no disrespect, I don't want to end up like that.
When I invest in an individual company in a taxable account, I know exactly where my money is. It may sacrifice some tax efficiency, and it may be less diverse then an ETF. However the peace of mind from knowing exactly where my money is invested is worth it. I own my money.
Yet he does not get any retirement dollars because the military claims that the records which shows his service were lost when the building holding them caught fire and burned to the ground.
He had over twelve years of service, and is only credited with one year.
Despite obtaining letters from his previous officers attesting to his service, he is not allowed to reestablish a claim to the years that he endured in the military.
After he left the armed forces he became an officer of the law. When he left his job he was given six thousand dollars in retirement pension. That is total dollars.
He claims that the entire police pension was in Enron, and they lost it all when the company went belly up.
This man can barely walk and is over seventy years old. After two highly successful careers he has little to nothing to show for it.
With no disrespect, I don't want to end up like that.
When I invest in an individual company in a taxable account, I know exactly where my money is. It may sacrifice some tax efficiency, and it may be less diverse then an ETF. However the peace of mind from knowing exactly where my money is invested is worth it. I own my money.
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