FSBOs get 12% less than agent-listed homes
Data shows that for-sale-by-owner sellers get on average 12% less than homes listed with a professional real estate agent.
Where this was said
Nick in Detroit: Should We Do Separately Managed Accounts?
At 30:18 · chapter starts 19:50
Nick and his wife manage their own investments using index funds and broad mutual funds, but Fidelity has been calling to pitch separately managed accounts with tax-loss harvesting as a feature. Dave explains the mechanics clearly: an SMA is basically an individualized mutual fund with less diversification, and tax harvesting is smart as a minor tactic but a terrible primary goal — because harvesting losses means you first have to lose money. He concedes Fidelity is a legitimate firm (Magellan was the first fund over $1 billion), but recommends a SmartVestor Pro who is not brand-loyal and will compare performance against the index. The real point Dave makes: research shows staying in good actively managed funds with low expense ratios and long track records outperforms most tinkering. Rachel adds that outsourcing this to a pro saves mental energy. A Fairwinds Credit Union sponsorship read closes the segment.
DIY Investing vs. Professional Management: The Honest Comparison
Separately managed accounts sound sophisticated, but they're just individualized mutual funds with less diversification. Tax harvesting is not a bad thing to do — it's a bad thing to pursue as a goal, because harvesting losses means you're losing money. The research consistently shows staying in good active mutual funds with long track records beats most DIY approaches.
The $1,000 Baby Step — Why It Was Never Meant to Be Enough
The Baby Step 1 $1,000 starter fund was never meant to replace a fully funded emergency fund — it's a tiny buffer designed to keep you on the debt snowball when small surprises hit. A fully funded emergency fund is 3–6 months of expenses; that hasn't changed since 1995. The only reason $1,000 works is because the average person on Baby Step 2 is out of debt in 18 months and barely needs it.
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