How To Build Wealth In Three Easy Steps

This page may include affiliate links. Please see the disclosure page for more information. Do you want to learn how to build wealth? When it comes to building wealth, there are several strategies and even more opinions. Some people get lucky, like winning the lottery, inheriting vast sums of money from their long-lost uncle, or being fortunate…

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How To Build Wealth In Three Easy Steps was first posted on May 15, 2020 at 6:00 am.
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6-Month CD Rates: Earn More Money

6-month CD rates can be a smart strategy for your short-term saving goals. If you’re saving for a house, you may be wondering where you can park your hard-earned cash safely and earn interest at the same time. If so, you should consider a 6-month CD, because the rates can still be very competitive. In …

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Can I Invest in Trump’s Companies?

Q. Is there a way to capitalize on all of Donald Trump’s businesses? I expect he will make policies more favorable for his companies. I want in! — I want in! A. President-elect Trump is expected to have a huge impact on the economy. Before we discuss his businesses, let’s look at the big picture…. Read More

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Accredited Asset Management Specialist (AAMS)

New financial advisors need something to help them stand out. Consequently, the AAMS does just that. Designed for newcomers to the financial advice business, the AAMS trains advisors to identify investment opportunities as well as help clients with other financial … Continue reading →

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Who invented the index fund? A brief (true) history of index funds

Pop quiz! If I asked you, “Who invented the index fund?” what would your answer be? I’ll bet most of you don’t know and don’t care. But those who do care would probably answer, “John Bogle, founder of The Vanguard Group.” And that’s what I would have answered too until a few weeks ago.

But, it turns out, this answer is false.

Yes, Bogle founded the first publicly-available index fund. And yes, Bogle is responsible for popularizing and promoting index funds as the “common sense” investment answer for the average person. For this, he deserves much praise.

But Bogle did not invent index funds. In fact, for a long time he was opposed to the very idea of them!

John Bogle did not invent index funds

Recently, while writing the investing lesson for my upcoming Audible course about the basics of financial independence, I found myself deep down a rabbit hole. What started as a simple Google search to verify that Bogle was indeed the creator of index funds led me to a “secret history” of which I’d been completely unaware.

In this article, I’ve done my best to assemble the bits and pieces I discovered while tracking down the origins of index funds. I’m sure I’ve made some mistakes here. (If you spot an error or know of additional info that should be included, drop me a line.)

Here then, is a brief history of index funds.