Refined Wealth Newsletter by Joe Ward Read Time: 3 Minutes The "Smart" Money Read: The smart money was on the sideline while the market went up 4%. Of course, they are still collecting their "2 & 20" fees- The 2% management fee gets charged whether the fund gains or loses money- Plus a 20% performance fee on the gains (when they exist) What are hedge funds again? Expensive, loosely regulated investment funds with a single objective: make money in the public markets by betting for or against...
19 days ago • 2 min read
Refined Wealth Newsletter by Joe Ward My First Timeshare Presentation Last week my wife and I celebrated our fourth wedding anniversary in Colorado. After checking the weather back home, she suggested we extend the trip through the weekend. I agreed. I found a great deal at the base of a resort that was on our way back. The catch: "you agree to take a 90-minute tour of the resort." I assumed we'd learn something about the mountain, the town, that sort of thing. But I wasn't naive enough to...
about 1 month ago • 4 min read
Refined Wealth Newsletter by Joe Ward New video covering the most misunderstood financial planning metric among clients and advisors. I cover its shortcomings and why we tend not to use it at all. Instead, when retirement is five years out, we rebuild our client's plan a second time in a different tool. For the biggest decision of your financial life, I'd rather we spend the time to cross-check the numbers, than you have to go back to work. We're always here to listen and offer guidance when...
about 1 month ago • 1 min read
Refined Wealth Newsletter by Joe Ward Read Time: 2 Minutes A Question No memo this week. Just a question. I have plenty of topics queued up, but I'd rather write about what's top of mind for you or those in your circle. That said, what questions do you have, or what are you hearing from friends, family, or colleagues? Please reply with as much or as little as you'd like. This will help me prioritize topic areas of interest. Until next time, stay the course. Also, to my new subscribers who...
4 months ago • 1 min read
Refined Wealth Newsletter by Joe Ward Read Time: 3 Minutes The Price of Admission Hello Friends! Last weekend I volunteered at the Houston Open. Inevitably a couple of people asked me what I do, and after my response most said: "Oh, you must be getting a lot of calls right now." Nope. You all know volatility is the price of admission for long-term returns. It's a core tenet given the way we invest, and something I dive deeper into during onboarding, because you cannot start doing lifeboat...
5 months ago • 1 min read
Refined Wealth Newsletter by Joe Ward Read Time: 3 Minutes Target Date Funds & Pensions Don't Mix One of the most common mistakes I've seen after reviewing over 300 portfolios is the overuse of Target Date Funds. It's not the worst mistake by any means, but I've met a lot of DIY investors using TDFs without understanding the full ramifications. Here's a quick video detailing why I think they're wrong for most people, particularly if you've accumulated assets outside of your 401(k)....
5 months ago • 1 min read
Refined Wealth Newsletter by Joe Ward Read Time: 3 Minutes March Madness Every year, my family fills out March Madness brackets for bragging rights. But my 18-year-old brother's goal is a perfect 63-0 bracket. It's a lofty goal, but most of us know betterHis odds? Roughly 1 in 9.2 quintillion if each game was a coin flip. But he knows ball, so maybe it's closer to 1 in 120 billion. Nobody has ever done it. Warren Buffett once offered a billion dollars to anyone who could. The issue with this...
6 months ago • 1 min read
Refined Wealth Newsletter by Joe Ward Cash is Trash.. in 2026 (Video) Thanks for all of the great feedback from last week's post: 2026 Market Predictions. In response I received a fantastic subscriber question regarding when and how much of your allocation should be in fixed income (bonds). My views on this are unconventional, which I'll cover next week. However, the video below is the precursor to that very topic.If you feel like this post was made directed at your situation, be assured that...
8 months ago • 1 min read
Refined Wealth Newsletter by Joe Ward Read Time: 5 Minutes Happy New Year everyone! If I can do anything for you, please let me know. A quick word: I draw ideas for these newsletters from client conversations and questions, but I'm always open to feedback and new topics! As always, feel free to pass this along if you think others would find it helpful. Today's post is a bit longer than usual, but I think it sets the tone for the year. TLDR: We don't publish market predictions, mostly because...
8 months ago • 4 min read