Rubin J. Miller, CFA @RubinJMiller Twitter profile | Pikagi

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Rubin J. Miller, CFA

@RubinJMiller

2,700

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Founder, CIO, Advisor @ | ex-DFA | SXSW 2023+2024 | Forbes | Inactive Chess Master | | tweets ≠ advice

Austin, TX | Whitefish, MT

https://t.co/WbqPOHjEl4

Joined June 2020

Don't wanna be here? Send us removal request.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

Pulled just over $300K in savings from Chase for a client. She was getting .01%. If we can get the current 3-month treasury yield of 5.55% for a year, she’ll earn $17K+ in income (I typically use the SGOV ETF to pursue this). The tradeoff for that income, with the new lower

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@tqlemd Tradeoffs. Life can be challenging.

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@RubinJMiller

Rubin J. Miller, CFA

2 months

Most advisor business models are still garbage.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

The comments in this thing are unreal. Everyone is stoked out of their mind to buy COSTCO the day before the stock goes ex-divvy so that they can pay income tax on a distribution back to them of their own money. And everyone’s name is “Dividend Hero/Maximizer/Zeus” I’m gonna

@HeroDividend

Dividend Hero

8 months

Costco $COST just announced that they will pay a $15.00 per share special dividend The special dividend yields 2.4% and will be payable January 12, 2024, to shareholders of record as of the close of business on December 28, 2023.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

DFA Global Equity ETF & Ultrashort Bond ETF launch in 1 week. DFA “gatekeeping” is over. Advisors who sell on access to DFA will need a new spiel. 99% of DFA’s useful lineup will be unrestricted in ETF wrapper. I can’t wait. I love the funds and I love democratized access for

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Exciting update! I'm now the Founder & Chief Investment Officer at Peltoma Capital Partners — a boutique financial planning, investments, and tax-strategy firm (...we also help with tax preparation). A heartfelt thanks to my former colleagues at PWP. Onward!

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@RubinJMiller

Rubin J. Miller, CFA

1 year

A prospect asked me what I think about Fisher Investments. I don’t.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Dimensional Fund Advisors (DFA) will launch 2 critical ETFs within a couple months. You no longer need access through an approved advisor to access DFA's brainpower. Here's context for non-investment professionals & DIY investors about using them:

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@RubinJMiller

Rubin J. Miller, CFA

2 years

What’s your investment philosophy? 7 words or less.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@ariozick Great option. A little less liquidity. Not my preference to introduce having to trade potentially wide spreads. But if client wants money back on a certain day (and won’t potentially want it back before then), I almost always buy the tbill itself.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

People romanticize Roth IRAs and HSA's because of the tax benefits, but it's still small ball. They are beneficial, worth it, & free money, but it's tiny stuff nonetheless. Make $100K+ and really want to really turn knobs? Invest 25%+ of your income each year. Asset location

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@RubinJMiller

Rubin J. Miller, CFA

1 year

As the 10yr treasury yield hits a 15-year high, it’s worth remembering that very few people seemingly know how bonds work.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Mom was flying to ATX to meet her new granddaughter (& namesake). And I hadn’t seen my mom in over a year. Took redeye from @FutureProofAC to sync on mom’s @Delta layover in ATL. 730AM. Surprised the heck out of her! ❤️😜

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@RubinJMiller

Rubin J. Miller, CFA

2 years

My portfolio is all the snooty jargon — evidence-based, factor tilted, smart beta, pursuing robust premiums, etc… Which is really just the Total Global Stock Market, but underweight companies with innovative ideas & cool jobs.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

First day back from paternity leave! Does it get any better? When will she stop wanting to do this?

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@RubinJMiller

Rubin J. Miller, CFA

5 months

I can't seem to get a response from "advice only" planners — what do you do when it's time to shift yield exposure? Why own 1YR bonds @ 3% yield if 2YR bonds yield 6% / why own 2YR bonds @ 3% yield if 1YR bonds yield 5%? You should ABSOLUTELY shift your yield curve exposure as

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@RubinJMiller

Rubin J. Miller, CFA

2 years

While stocks being down 20% is an occasionally expected outcome, short term rates up 5,110% is not. This past year's move downward in bonds is spine-tingling. Here's a quick🧵on expectations for what happens next for bond investors.

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@RubinJMiller

Rubin J. Miller, CFA

5 months

The U.S. stock market is about 70% of the world. Many people’s portfolios think it’s 100% of the world. Which worked out nicely the last 14 years, but was devastating the 10 before that. Familiarity bias + recency bias + not caring about prices + not wanting diversified

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@RubinJMiller

Rubin J. Miller, CFA

1 year

What's your favorite example of investment advice that is not supported by evidence but sounds extremely compelling? I'll go first: "Just buy good companies and hold them forever."

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@RubinJMiller

Rubin J. Miller, CFA

9 months

My favorite type of direct indexing is when you click to invest directly in an index and move on with your life.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

My thought after 7 years at DFA and 1.5 years as CIO at an RIA: factor investing is overrated. 90% folks I meet haven’t integrated the table stakes investing/planning/tax work to engineer successful outcomes. That comes before deciding to tilt away from the market portfolio.

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@RubinJMiller

Rubin J. Miller, CFA

4 months

Of all the shit in our industry, what would really blow outsiders away is the sheer number of middle management dudes at fund companies who do nothing except show up at meetings and repost their employer’s content on LinkedIn, and yet make more money than surgeons.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

You think our lives are hard with higher interest rates? Imagine trying to sell investment products when your potential customers can now get 5.5% for free. It’s a mammoth resetting of baseline expectations.

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@RubinJMiller

Rubin J. Miller, CFA

4 months

One of the best determinants of a financially healthy 30-to-40 year old is that none of their college friends got a job at Northwestern Mutual upon graduating.

@bryanhasling

Bryan Hasling

4 months

Another day, Another highly-educated young professional who got hustled by Northwestern Mutual. Wanted a financial plan: Got life insurance pitch and an ill-informed roth conversion 🤦‍♂️

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Increasingly more apparent to me that I didn’t know crap about investing for the first entire decade of my career. But I never felt like I was faking it. I literally thought I knew.

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@RubinJMiller

Rubin J. Miller, CFA

26 days

People think financial literacy is important for society. But many people would be surprised about the financial literacy of the average advisor. This is a fairly good litmus test: ask them to explain wtf is going on here.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

Wait until you learn about total return.

@Investmentkage

InvestmentKage (インベストメント影)

@Investmentkage

11 months

So far I have invested $19,514.18 With dividends I have invested $20,540.48 Dividends can be powerful.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

This is a hoot. One of the reasons it helps to understand math if you give people investment advice: If you attach a rate of return onto something, it doesn’t matter whether you get taxed at the beginning or end (“seed or harvest” — to grifters). Same reason we learn in

@mbontrager5

Marvin Bontrager, Ph.D.

11 months

401k the biggest scam in America?

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@RubinJMiller

Rubin J. Miller, CFA

8 months

“Educator” “Profit” This shit is evil.

@Smartnetworth1

Nick | Dividend Investor & Educator

@Smartnetworth1

8 months

A dividend portfolio worth $2,000,000 at a 5% yield will pay me $100,000 of passive income a year. Never have to sell shares to get profit. Thats the goal. Heading in that direction.

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@RubinJMiller

Rubin J. Miller, CFA

9 months

You’re about to graduate college. Take your five idiot friends that you love more than anything. There’s only one guarantee about those relationships… Your odds of financial success in life go up immensely if none of them get a job at Northwestern Mutual.

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@RubinJMiller

Rubin J. Miller, CFA

4 months

Wild how many people think 401Ks are bad bc $ is less liquid & limited investment choices. Look — some of your money needs to be earmarked for later years anyway, & nearly all plans have low cost index funds. The government and your employer are giving you a gift. Take it,

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@RubinJMiller

Rubin J. Miller, CFA

6 months

If you buy an index fund, you get the index fund’s return. If you buy multiple index funds, your return will be the sum of: (return of each index fund) * (weight within your portfolio of each index fund). Takeaway here would be that Ed presumably sells something.

@edrempel

Ed Rempel

6 months

It is easy to outperform index investors. Why? Because they don’t really try to get index returns, they try for reasonable returns with less risk. This makes them use “performance drags” that typically reduce their returns by at least 1-3%/year. In my latest video and

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@RubinJMiller

Rubin J. Miller, CFA

2 years

When it was public that I’d left @dimensional for my new role, Bloomberg @business called & left a VM. I told my wife I guess they wanted to interview me. There was a little press, but not that level. It was cool. I called back. They wanted to sell me a terminal subscription.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

U.S. Small Value stocks up over 14% in 26 trading days. Based on historical averages — that's over 100% of the return you should expect each year...in about 10% of a year. @ycharts

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Unreal.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Italy has everything! Publicly traded airports and soccer teams, 3%+ risk-free yields, wine.

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@RubinJMiller

Rubin J. Miller, CFA

1 month

2 things that everyday people should know about investment volatility: 1. You cannot average returns. If you make 60% one year, and then “only” lose 50% the next year, you actually lost 20% overall. More volatility = more corrosion of your simple average. 2. It does not matter

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@RubinJMiller

Rubin J. Miller, CFA

28 days

Good.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Thoughtfully constructed SMALL VALUE funds are a nose-hair away from being positive on the year. S&P500 tracking back. Not a knock against the S&P500, but the opportunity set doesn’t end there.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

Today is the day. Kudos to DFA on creating the global equity ETF. No more barriers to entry. The evolving value proposition of advisors is fantastic for investors, and selling “access to DFA” is done. You still want an advisor/financial planner with immense investment

@RubinJMiller

Rubin J. Miller, CFA

11 months

DFA Global Equity ETF & Ultrashort Bond ETF launch in 1 week. DFA “gatekeeping” is over. Advisors who sell on access to DFA will need a new spiel. 99% of DFA’s useful lineup will be unrestricted in ETF wrapper. I can’t wait. I love the funds and I love democratized access for

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Nothing wrong with relentlessly investing into a taxable/brokerage account. Sure, there are better accounts for certain goals. Learn about them and make any necessary changes over time. But 90% of people don't do any of this shit anyway. Optimization can paralyze you.

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@RubinJMiller

Rubin J. Miller, CFA

9 months

Pinching myself. 7.5 months since launch. 7.5 months of tirelessly building toward better client outcomes. Peltoma's first in-person Advisory Board retreat.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Probably the most underrated investment strategy is just owning the market portfolio and moving on with your life.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Having a taxable investment account $50K+ completely upends any notion that more money won’t make you happier. Ability to not give a shit a/b small errors, & just pay for them without getting emotionally depleted…is a complete game changer.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

People will spend endless hours searching online which banks pay an extra .2% on cash deposits, but won't seek independent advice on designing the right portfolio for unknown future events that will raise & lower their entire net worth by unimaginable magnitudes.

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@RubinJMiller

Rubin J. Miller, CFA

5 months

Competing with Meghan Markle and Bill Gurley was a tall order, but we persevered. Having helped create the first index fund in the 1970s, David Booth has dramatically improved the lives of millions of people he will never meet. Crazy to think of his impact. Great experience

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@RubinJMiller

Rubin J. Miller, CFA

1 year

@TheStalwart “I wanted leverage…so I got clients”

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@RubinJMiller

Rubin J. Miller, CFA

10 months

Five thoughts about this market: 1. Moves of this magnitude are expected, not unexpected. 2. T-bills are awesome for some things, but they’re not a robust long-term plan. 3. While it’s okay to be disappointed by market returns, it’s not okay to be surprised. If you don’t know

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@EconomPic I’ve found this works well. Easy to get in/out (half cent spread typically on ~ $100 share prices), no transaction fees, high clarity around outcomes. But for you, I’m all ears. You suggest something else?

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@jahmed0478 Hassle matters. Yields are similar. Depends on personal preference.

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@RubinJMiller

Rubin J. Miller, CFA

5 months

Here's where I see hardworking parents go wrong using 529 College Savings Plans: 🟢𝐏𝐚𝐫𝐞𝐧𝐭𝐬 𝐡𝐚𝐯𝐞𝐧'𝐭 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝 𝐚 𝐩𝐡𝐢𝐥𝐨𝐬𝐨𝐩𝐡𝐲 𝐚𝐛𝐨𝐮𝐭 𝐠𝐢𝐟𝐭𝐢𝐧𝐠 𝐦𝐨𝐧𝐞𝐲 𝐭𝐨, 𝐨𝐫 𝐩𝐚𝐲𝐢𝐧𝐠 𝐭𝐮𝐢𝐭𝐢𝐨𝐧 𝐛𝐢𝐥𝐥𝐬 𝐟𝐨𝐫, 𝐭𝐡𝐞𝐢𝐫 𝐤𝐢𝐝. The future

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@RubinJMiller

Rubin J. Miller, CFA

6 months

The major benefit of a 401K is not typically related to future tax rates. It’s related to not paying tax on that income in that year. Avoiding tax on $23,000 or $30,500 (over 50) this year may potentially be awesome for you. You can bicker over current and future tax rates in

@djwindle

DJ Windle

6 months

@iconocapital Oh tax rate goes way down in that scenario. This is what happens when you listen to advisors who tell you to defer most of your income in IRAs and 401ks

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@RubinJMiller

Rubin J. Miller, CFA

3 months

When people consider hiring you for financial advice, in my experience there are only 3 things that matter: 🟣You actually care. 🟣You are an expert in helping people like them. 🟣You won't steal their money. No matter how hard some advisors and marketing teams keep trying, no

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Crappy financial advisor firms convince you that you need to hire a financial advisor. Great financial advisor firms convince you that you need a financial plan — and only then discuss the costs, benefits, and tradeoffs of hiring them to implement it.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

The true measure of wealth is ease, comfort, and time.

@WCInvestor

White Coat Investor

1 year

The true measure of wealth is net worth, not income.

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@RubinJMiller

Rubin J. Miller, CFA

6 months

Client family is having increasing career/financial success, but don't love their jobs. Discussed in our 2024 Annual Planning Meeting: 1. Outsourcing more tasks to buy back their time (e.g. meal prep). 2. Continuing to narrow the distribution of future investment outcomes (e.g.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

There is a breakeven point between your bond values getting whacked, and simultaneously having higher yields going forward. For high quality bond investors, this idea is...basically everything.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

As the 10yr treasury yield hits a 15-year high, it’s worth remembering that very few people seemingly know how bonds work.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

Convinced that people who didn’t crack into owning property rentals early enough…just become dividend bros. Same language about retiring early and living off the earnings, and generating passive income. Same cultish locker room camaraderie and go get’em tiger. Seems like fun.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

60/40 portfolio: +17% in 2023.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Investment decisions aren't an option. Everyone is 100% allocated, always. Not owning stocks is a portfolio, and has its own unique risks.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Independent advisors attach themselves to their firm name & purpose. Advisor teams at Wells Fargo & other client-disoriented brokerages create ensemble-sounding teams like “The Johnson Group” — & bury their affiliation. There’s information in this.

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@RubinJMiller

Rubin J. Miller, CFA

10 months

The only thing you want from an active manager is a tearsheet of historical performance of all funds ever launched versus benchmarks. You don’t want advice from their economists, salespeople, or portfolio managers. Doesn’t matter how long they’ve been in the industry nor the

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@RubinJMiller

Rubin J. Miller, CFA

4 months

There are people whose advisors charge them $30K+/year, who will have underperformed the relevant benchmark this quarter due to unnecessarily high expense ratios, unworthy advisory fees, and terrible portfolio design and implementation — but will look at a statement that says

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@RubinJMiller

Rubin J. Miller, CFA

5 months

I cannot stand heated Traditional vs. Roth 401K debates. Knowing that for almost anyone, I can almost always make an argument for either side — meaning the market (tax laws, known and future unknown) has done its job in setting a fair spread. Pick one or split’em, but move on

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@RubinJMiller

Rubin J. Miller, CFA

2 years

@ramit +$5K vacation per year (7 days) +$5K charitable causes +Cleaning person 1x more times/week than current +rent out restaurant/bar where we are regulars to host killer annual holiday party for friends +consider outsourcing laundry

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@RubinJMiller

Rubin J. Miller, CFA

11 months

When you see risk-free rates at 5.5% on 3mo treasuries, you should think to yourself — anything else I do with my money for the next 3 months better have a higher “expected” return than that. But anything can happen in 3 months. Seriously — anything. Very reasonable chance you

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@RubinJMiller

Rubin J. Miller, CFA

1 year

The global stock market. A dummy index portfolio. Everyone deserves ~ 31% stock returns over the last 9 months. And every investment manager should be able to explain to you, in clear language, why you did or did not receive this 31%. Ask them! If the answer is management fees,

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@RubinJMiller

Rubin J. Miller, CFA

1 year

SVB lesson: risk-free assets are risk-free only if you don't become the risk. if you might need the money back early, own shorter term maturities. can't prudently stock up on 5yr bonds if you might need the money this week. It matters how you invest your emergency fund.

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@RubinJMiller

Rubin J. Miller, CFA

5 months

We’ve had a lot of young, high-earners chat with our firm lately. They will often have $200K-$700K portfolios. Their “human” capital (i.e. ability to earn) dwarfs their financial capital — properly stewarded, it’s what will generate their wealth. But their financial capital

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@RubinJMiller

Rubin J. Miller, CFA

7 months

Yesterday, we went over a financial plan with this person: -70 years old -has a $30M home, paid off -has $21M invested/saved (about 15M liquid, and $6M illiquid/PE) -lovely guy, grateful for his circumstances -burn rate $1.3M/year Guess what?

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@RubinJMiller

Rubin J. Miller, CFA

2 years

My 2023 market predictions:

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@RubinJMiller

Rubin J. Miller, CFA

1 year

A comment I hear frequently when people describe their advisor who picks individual stocks: "But they buy safe stocks, not the risky ones." It doesn't work that way. You can't seek stock-returns w/o stock-risk. There are no safe stocks. It's a high-torque pursuit.

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@RubinJMiller

Rubin J. Miller, CFA

6 months

Systematically selling RSUs leaves plenty of room for potential regret. I work with a couple who are both employed @Meta . Encourage them to sell all newly vested shares. Why? Because of a philosophy around prices, and a concern for the classic human capital + financial capital

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Amazing how advisors ask friendly wholesalers “what they really think.” Every wholesaler would join their competitor for a better comp package. They’re nice people, but stop asking them for investing opinions. You need an investment philosophy —> then find funds that suit it.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

This isn’t treasury yields or unemployment rates. It’s global stocks, up 14% in one month.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@GRDecter In this economy?

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@RubinJMiller

Rubin J. Miller, CFA

5 months

Peltoma runs a lot of “backdoor Roth IRAs.” They’re a smaller part of the wealth-generation flywheel for high-performing professionals. If we never did it and just used a taxable account, it’d probably be okay. We tell clients that. There is no phrase that more people “have

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@RubinJMiller

Rubin J. Miller, CFA

5 months

One of the most important ideas in finance: 🟠If a company has a growth rate that is bigger than the economy's growth rate — then because of compounding, on a long enough timeline, it IS the economy. One of the most important ideas in personal finance: 🟣You'll drive yourself

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Same asset class: U.S. Small Value, YTD. Indexing is fine, but index fanatics should become "market-based investing" fanatics. Tracking someone else's arbitrary, stale list is fine...but not ideal. The LT results reflect this, as do the current ST returns (in spades).

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@RubinJMiller

Rubin J. Miller, CFA

2 years

People focus too much on bond PRICES. In reality, it's just TIME that solves most peoples' concerns. With more time, tanking bond prices are often better. No one said this was easy.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

"Now is the time to use other people's approach," said no fund salesperson ever. Until they switch jobs and sell different funds. Don't take investment advice from people who sell funds.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

The 3-month risk-free rate is now up a mind-blowing 7,866% since January, 2022. All investment decisions (which contain risk) are just tradeoffs, and are contextualized by what's available risklessly. Yet somehow people are more focused on value vs. growth in 2023...🤷💰

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@ariozick I do it. I’m not disagreeing with you. But the spread in trading tbills ends up being similar to the expense ratio if you trade it both ways. And you can’t know how liquid any vintage will be when you need it back. Cap gains aren’t really a thing. Monthly income from ETF mostly

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@RubinJMiller

Rubin J. Miller, CFA

1 year

If risk-free rates are ~ 5%, the expected return of prudently taking risk must be higher than that. This idea tends to resonate with folks. But trying to agree on "prudently" can start wars.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@GrantGayman Join me in a noble mission to end it. It's a new environment. Only been this way for less than 2 years. I'm sure many banks are loving the higher yields themselves and not observing high enough client attrition to change.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Many benefits to analyzing stocks — including feeding intellectual curiosity, understanding business models, & being a generally more informed investor. But if you just want better investment returns, it’s a complete waste of time.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@hksk2007 From their 6/30 fact sheet

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@RubinJMiller

Rubin J. Miller, CFA

11 months

In aggregate, crappy publicly traded companies have made better investments than good companies. When every share must be owned, there also must be expected incentivization to own the crap. That comes in the form of a low relative price, and that expectation has historically

@PeterLazaroff

Peter Lazaroff

11 months

Great companies aren't always great investments.

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@RubinJMiller

Rubin J. Miller, CFA

10 months

The goal in a market downturn is to generate productive activity that makes it so you don’t need a full market recovery to get back to square. For my clients — that’s typically rebalancing, tax loss harvesting, continuing or ramping up systematic contributions, etc. It’s not:

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@RubinJMiller

Rubin J. Miller, CFA

2 years

Can't understand why investors EVER speak about future expected returns with certainty. Watch Gene Fama or Ken French speak, they'll literally do everything possible to never speak in absolutes, including selling against their book. There's information in that.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

One of the best reasons to invest is no reason at all: to buy future optionality. So that eventually when you figure out why you were investing, you’re funded.

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@RubinJMiller

Rubin J. Miller, CFA

8 months

Nothing wrong with owning dividend-paying stocks. It's better than 99% of the stuff that people buy with their money. It's investing, after all. It's just not free money. And they're not better than stocks that don't pay dividends. Yield is for farmers, after all. Not equity

@RubinJMiller

Rubin J. Miller, CFA

8 months

Convinced that people who didn’t crack into owning property rentals early enough…just become dividend bros. Same language about retiring early and living off the earnings, and generating passive income. Same cultish locker room camaraderie and go get’em tiger. Seems like fun.

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@RubinJMiller

Rubin J. Miller, CFA

4 months

Strange bedfellows. "We chose Intech for their ability to generate alpha, and Dimensional for their ability to show why it doesn't exist."

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@RubinJMiller

Rubin J. Miller, CFA

5 months

Imagine never improving.

@BenGolliver

Ben Golliver

5 months

Lakers' LeBron James is the first NBA player to score 40,000 points. James scored his first 10,000 points in the exact same number of games as it took him to go from 30,000 to 40,000 - 10K in 368 games - 10K to 20K in 358 games - 20K to 30K in 381 games - 30K to 40K in 368 games

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3K

22K

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@RubinJMiller

Rubin J. Miller, CFA

5 months

Advisor 1: we should roll your old 401K into an IRA. But I need to warn you that there is a conflict of interest in doing so. Advisor 2: we should explore rolling your IRA back into your 401K so you can run annual backdoor Roth IRAs, but I need to warn you that while it will

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@RubinJMiller

Rubin J. Miller, CFA

9 months

Still building wealth: flying first class is a tradeoff, and may or may not be worth it. Already wealthy: if you don’t fly first class, your kids will.

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@RubinJMiller

Rubin J. Miller, CFA

1 year

Congrats @DefineFinancial & @jus10castelli and all my friends who are published authors @harrimanhouse today. Olive loves the book and thinks it tastes good. Go get your copy!

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@RubinJMiller

Rubin J. Miller, CFA

7 months

THIS IS 40.

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@RubinJMiller

Rubin J. Miller, CFA

11 months

@realkylehensley There are small differences between all the tbill ETFs. Here are the total returns YTD of three of the big ones, in case it's helpful. There's always going to be some noise in managed investments, so I encourage folks not to read TOO much into slight differences in return.

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@RubinJMiller

Rubin J. Miller, CFA

2 years

My daughter, having loaded up on 10 year treasuries the last few months to lock in a blowout 10th birthday party. She's holding to maturity, but appreciates the favorable price action.

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