The Grow Your Wealthy Mindset Podcast
Grow your wealth by working on your mindset and up leveling your game. Your thoughts about money have created your current financial net worth. Sadly, there are many physicians who are have earned a good income but have not built wealth. More and more physicians are becoming burned out as our health care system continues to change. Join the movement of physicians embarking on the journey to take matters in our own hands so we can continue to thrive. Tune in each week to learn more on how to grow your wealthy mindset! Imagine your life when you have the financial knowledge to create wealth so you can practice medicine on your own terms. Please subscribe and leave a review on your favorite Podcasting platform. You can learn more about Elisa at her website or follow her on social media. Website: www.GrowYourWealthyMindset.comInstagram https://www.instagram.com/GrowYourWealthyMindsetFacebook https://www.facebook.com/ElisaChianghttps://www.facebook.com/GrowYourWealthyMindsetYouTube: https://www.youtube.com/c/WealthyMindsetMDLinked In: www.linkedin.com/in/elizabeth-chiang-0582a432
The Grow Your Wealthy Mindset Podcast
Replay Episode 33: Traditional Mutual Funds vs. Exchange Traded Funds
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In this replay episode, we're revisiting one of the most common investing questions: Should you invest in exchange-traded funds (ETFs) or mutual funds?
Both ETFs and mutual funds can be excellent investment vehicles, especially when you're investing in low-cost index funds. In this episode, I break down the key similarities and differences between the two, including:
- How ETFs and mutual funds provide diversification
- Differences in trading and pricing
- Minimum investment requirements
- Automatic investing and dollar-cost averaging
- Tax efficiency considerations
- Expense ratios and other costs
- Dividend reinvestment
- Transparency and fund holdings
Important Update Since the Original Recording
In the original episode, I discussed how ETFs generally had to be purchased in whole shares while mutual funds could be purchased in fractional shares. Since that recording, many major brokerages now allow investors to purchase fractional shares of ETFs, making it possible to invest a specific dollar amount without buying a full share.
As a result, one of the historical advantages of mutual funds has become less significant for many investors. However, availability of fractional-share ETF investing varies by brokerage platform, so be sure to check your brokerage's specific features.
Key Takeaway
For long-term investors, the choice between ETFs and mutual funds often comes down to convenience, costs, tax considerations, and personal preference rather than investment performance. Both can be effective tools for building wealth when used as part of a disciplined, long-term investing strategy.
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Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .
You can learn more about Elisa at her website or follow her on social media.
Website: https://ww.GrowYourWealthyMindset.com
Instagram https://www.instagram.com/GrowYourWealthyMindset
Facebook https://www.facebook.com/ElisaChiang
https://www.facebook.com/GrowYourWealthyMindset
YouTube: https://www.youtube.com/c/WealthyMindsetMD
Linked In: www.linkedin.com/in/ElisaChiang
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