@@huy3967 Thank you!

@@languno I was there for about 6 months to hire a team, living in City Suites by the city center. I still go back regularly, the last time just this July. I work to help support the management of a commercial lease portfolio for a professional services firm. Nothing extravagant but steady saving & investing over the long term and living below my means.

@@phuocle thanks, sounds great. Keep up the good work

@@NicolasSilvaVasault You need a faster GPU!

@@luney3232 Why would you want a savings type account? They have too much restrictions for everyday use. And you can use this without a bank account if you don’t need to deposit cash as it’ll take direct deposit, Venmo, mobile check deposit, etc.

@@Westie5911 It’s not required at all but I am planning to do exactly that just to simplify my financial life.

No actually yes you are racist

That I do not know. The only thing I can think of is that MediaMonkey didn't have a chance to update its database before you closed it down. It's highly unlikely but that's one reason I can think of. I hope you find a solution and if you do, would you let me know? Thanks!

I'm glad! You're young so go for it!

Yes - and it's nice! You also can opt to have SPAXX as a core position in your CMA account now... lots of changes so I may have to do an update!

Where did you get this info? I’m checking their site now and they say that a “foreign transaction fee of 1% may apply”.

@@MorchSevonth Hi, please see here: www.fidelity.com/spend-save/help-center/debit-card/get-started?selectTab=1

@@phuocle Wow that's amazing! Thanks for sharing. Definitely opening account with them then.

@@Jlee-SgT In what way?

@phuocle haha maybe because its silver lol

@@Jlee-SgT I suppose that’s as good a reason as any!

@@mpccannis Haha… I hope I have some to give!

@@gregdaly4365 When I had it, maybe 12 mpg?

@@FarisDou If you look at my video history, just a couple of years ago. If you’re just starting out, just invest in VTI, keep adding to it through thick & thin, and hold on for the next few decades. If you can do that, you’ll come out ahead of the vast majority of people.

@@phuocle I appreciate the response, I will take your advice and get started. I’ll go over your older videos and binge it. Thanks again Sir.

@@FarisDou Good luck to you. It’s good advice and pretty simple, though not easy. Not many people have the discipline to stay the course no matter what. The temptation to time the market is great. And that’s why most people don’t succeed. But if you can stick with that plan, you’ll come out far ahead.

@@phuocle I just started today with my paycheck. Goal is at least 500 a month.

@@FarisDou Awesome!

@@db25364 I honestly don’t know as I do not use Mac Numbers. You’re welcome to experiment and report back.

@@GamingGoalieYT That would be a good assumption! 😉 But no reason you can’t try this using WSL!

You should see the other spreadsheets I've built!

I don't really use the Cash Manager, though it's available for my CMA account - I just have to set it up. I can select a brokerage account to link to, where it'll pull from SPAXX or other eligible funds as kind of an overdraft protection. You may not have it available if you don't have a brokerage account set up. Do you have a brokerage account with Fidelity as well or just a CMA account? If not, that may be the issue!

@@phuocle I see your point, my other accounts are held in joint names and cma is in only one name. That could be the issue. I have called cust service before, although the ppl are above average for trying to solve my issues, I find sometimes I know more than them!

@@sherrysherry5972 I’d just make another brokerage account in the one name then to match the CMA and make your life easier if you want to use the cash management features.

Besides international settlements!

Those are well founded concerns, so I understand where you're coming from. I'm comfortable that my accounts are sufficiently secured with various 2FA methods plus other protections like SIPC, that it's not something I worry about. For me, the simplicity of having things in one place outweighs any negative. I'm also at a stage in my life where seeing my 401K balance multiple times a day gives me joy rather than any concern as I edge closer to retirement and seeing how much I've accumulated gives me a lot of peace everything is going as it should. To your specific question, the answer is "I don't know". I still have my Schwab Checking account but it only has $1 in it to keep it open. I may add more to make it a true back-up account just in case but it has been years since I've actually used it so I can't say how it would function. Having said that, I have heard that it's possible to do what you're saying: keep a small amount in the checking account itself but hold a lot more in the linked brokerage in a money market account that would then be liquidated to cover any spend a la an overdraft type facility. I just don't have any personal experience with that so I cannot say for sure. If you get confirmation, I'd appreciate it if you can let me know!

​@@phuocle Sir, thank you for your prompt and thorough response. You unintentionally gave me a very important reminder in your response - turn on 2FA. As for Fidelity CMA vs Schwab investor checking, my analysis paralysis prevails. When I get an answer to my question about Scwab, I will share it here.

@@phuocle So I did speak to a Scwab Customer Service over the phone and what they told me is they will not automatically liquidate money market fund held inside the linked schwab one brokerage account to cover for the deficiency in the schwab investor checking account balance. You have to buy / sell manually which is quick but not as seamless as fidelity.

​@@CNFat I was wondering the exact same question about using the overdraft feature from the brokerage. Did you ever find out?

@@arcee49 I ended up opening fidelity cash management account and loving it. i called schwab and the strategy i outlined in the comment you replied to won't work.

Hi Tony! Glad to hear from another person of Vietnamese descent! My main advice for you would be to save as aggressively as you can as soon as you can. The dollars you can put to work while you're young will pay big dividends in the long haul. Give it a decade or two and you'll see great results. Watch your fees and go with low cost index funds to build your portfolio. None of this should be new or earth shattering but it's always worth hearing. It's how I managed to build my wealth... unless you're one of those 0.1% of folks, either through raw talent, luck, or a combination of the two, the way to wealth is time, discipline, and consistency. There are no shortcuts and anyone telling you otherwise has another agenda. Good luck to you!

For the most part yes, with some tweaks. If you look at my $1 Million portfolio playlist, it gives you my current allocation: 50% QQQ, 25% TLT, 15% SCHD (instead of O), and 10% GLD. I juice up the returns a bit, at the expense of more volatility by splitting the 50% QQQ into: 35% QQQ and 15% TQQQ. On the TLT allocation, it's 15% TLT and 10% TMF. The TQQQ and TMF are just 3X leverage of the QQQ and TLT. Link: kzbin.info/www/bejne/nYGydIV5gat9mdk 🙂

@@phuocle Thanks for the reply.

@@phuocle You must be happy with TQQQ this year. It's so tempting for me, but I wonder if it's too risky at this point.

Yes! I just responded as such to another viewer! I’m going to have to add a caption or something to that effect.

One of my favorite tool is the Excel file here: moneyzine.com/investments/dividend-champions/ It gives you a bunch of metrics in dividend stocks as well as the current listing for Champions, Kings, and Aristocrats. Good luck!

It depends... the bonds in this portfolio are a specific type... long term bonds. They primarily serve as a diversifier to help re-balance. But they can be great investments in their own right, depending on the time period and in a falling rate environment. Look up "bond convexity" to see how even a small movement in interest rates can cause outsized capital gains.

@@phuocle bond are shown to underperform equities consistently and by a wide margin. If you are trying for the interest rate play, why not select equities to capture both alpha and beta.

@@SurprisedFirzen We may have to disagree on this one. I'm looking for market like returns with less drawdowns. The only proven way to come close to that is to use a bit of bonds and commodities to help bring the risk under control. I'm happy to continue having the conversation but please do me a favor and take a look at the returns you'd get from a 50% LCG, 25% LT bonds, 15% LCV, and 10% Gold portfolio and see how it compares to something like 100% stocks or 80/20 stocks and then we can debate. 🙂

Basically, yes. My benchmark right now is a 60/40 portfolio as I'm really after risk-adjusted returns at this stage in my life. And that has returned a CAGR of 3.9% since 2021 due to the beating bonds have taken, especially long term bonds. Over the longer time horizon, I expect almost market returns with the risk profile of a 60/40.

I need to add a caption to the video… they just very recently did away with the 1% FTF.

I just returned from Japan and used my atm fidelity card there. While the atm machine fee was reimbursed, I noticed on my CMA statement that the exchange rate I ended up getting was not very good. Fidelity took out more money each time I withdrew from ATM in regard to the exchange rate that particular day. This tells me they charged for foreign fee. I wonder if the Schwab debit/ATM card gives you the closest to market exchange rate of the day when you withdraw on that particular day. I used local currency to avoid conversion fee.

Yes... very weird at the moment for sure. Normally the portfolio is 50% QQQ, 25% TLT, 15% SCHD, and 10% GLD. This year I introduced leverage to the QQQ and TLT position, so it's more like 35% QQQ/15% TQQQ and 15% TLT/10% TMF. But right now it's all out of whack but I'm comfortable holding it, even these triple leveraged positions, so all is good.

@@phuocle - you haven't made much money from these positions, where do the $1M came from... was it from stocks or just income earnings?

@@HelloWorld-hb7yt Stocks over the long term to get the $1M. You really can't look at this in such a short period of time. I highly suggest looking at the asset class allocation over a longer period of time over at Portfolio Visualizer. Put in 50% large cap growth, 25% long term treasury, 15% large cap value or REIT, and 10% gold. Over the long time horizon, it gives good risk adjusted returns. I'd probably switch out QQQ for something like SCHG or VUG in the near future but not yet.