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This is the nineteenth day in our 31-Day Money Challenge. Over 31 days we’ll publish 31 podcasts, each designed to help you move closer to financial freedom. Yesterday we covered how to create an asset allocation plan. In today’s podcast, we’ll look at how you pick mutual funds to implement your asset allocation plan.

Sponsors: The 31-Day Money Podcast is sponsored by Betterment and Personal CapitalBetterment and Personal Capital are two tools I use to make investing easier, less expensive, and more effective.

Topics Covered

  • How to evaluate and select mutual funds
  • Why passive index funds are typically (but not always) a better option over actively managed funds
  • How to determine the asset class for a mutual fund
  • How to determine the cost of a mutual fund
  • How to have a well diversified portfolio with just one mutual fund

Related Videos

This video walks through how to use free tools at Morningstar and Vanguard to evaluate mutual funds:


Listener Questions & Comments

I cover the following question in today’s podcast:

Bipin: Is it a good idea to pay off your mortgage sooner if you have money left after saving and investing or should I put more money into 401k and betterment/vanguard index funds. I do 401k contributions ( do not max out, but contribute 15 % every month). I max out my Roth IRA every year I contribute $1000.00 of savings to Betterment every month(my rental income). I also own vanguard VTSAX index fund and put money in it , once every few months (not automated yet). I am 35 years old and I own my home and have 288000 left on mortgage and 28 years left on a 30 year fixed mortgage.(purchased home in jan 2012)

Day 20: Interview with Stig Nybo on how to become a Super Saver

Author Bio

Total Articles: 1080
Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Article comments

1 comment
Md. Taslimuzzaman Fakir says:

“Hi Rob. I’m at Day 19 in your 31 day money challenge podcast. Thank you, thank you, thank you! I’ve been looking for a comprehensive guide to how i can achieve the money effectively .