Catching Up to FI

What happens when one of investing's original disruptors buys one of the industry's newest disruptors? Barry Ritholtz thinks investors may be the biggest winners and Bill and Jackie dig into why. This special breaking-news is an excerpt from an upcoming Catching Up to FI episode, recorded on 8/26/26. Barry reacts to Vanguard's newly announced agreement to acquire Altruist, the fast-growing technology and custody platform built for independent financial advisors. Barry also gives an important disclosure: he's an Altruist investor, so yes, he has a dog in this fight. From there, he explains why combining Vanguard's enormous scale with Altruist's technology could quickly reshape the custody business, put fresh pressure on Fidelity and Schwab, and potentially extend the famous "Vanguard Effect" into another corner of financial services. Bill calls it "disruptor squared." Barry sees an industry that never stands still. And if competition drives prices lower again, investors may ultimately be the ones cashing the biggest check.
This episode covers
Barry's immediate reaction to Vanguard's agreement to acquire Altruist

His disclosure that he is an Altruist investor and financially benefits from the deal

Why Altruist's clean-sheet technology made it an attractive challenger to legacy custodians

How Vanguard's scale could immediately change Altruist's competitive position

Why Fidelity and Schwab may suddenly have a much larger third competitor

The "Vanguard Effect" and how competition can push fees lower across an industry

Why Barry believes investors could be the biggest winners from the acquisition

How Schwab and Robinhood previously disrupted investing through lower-cost and free trading

Why Vanguard was a logical potential acquirer given its earlier relationship with Altruist

Barry's larger lesson that financial technology never stands still

 
 The Full Episode with Barry Ritholtz will be coming out soon! Be sure to follow the show or subscribe to the channel on YouTube, so you don't miss it!"
 
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F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
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RESOURCES MENTIONED ON THE SHOW
Official Vanguard announcement – Vanguard to Acquire Altruist, Expanding the Reach and Impact of Financial Advice
View the August 26, 2026 Vanguard announcement
Vanguard FAQ – Vanguard to Acquire Altruist
Read Vanguard's acquisition FAQ
Altruist's official acquisition announcement
Read the Altruist announcement
Ritholtz Wealth
https://ritholtzwealth.com/
How Not to Invest
https://a.co/d/07ZHXM8h
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.
 
ur own research or consult a professional before making important decisions.

What if that old pension you barely think about is secretly one of the most valuable assets in your retirement plan? Bill and Jackie welcome back financial planner and educator, Andy Panko for a deep dive into the increasingly rare (but far from extinct) world of pensions. They explore plans from private and government employers and why a seemingly small monthly check can dramatically change the work the rest of your portfolio has to do.
This episode covers
Why pensions are less common but still relevant to millions of workers
What it actually means when an employer "freezes" a pension
How to think about a pension as part of your overall retirement portfolio
The risks behind private, federal, state, and municipal pension promises
Lump sum versus lifetime monthly payments and the trade-offs of each
Single-life, joint-and-survivor, period-certain, and inflation-adjusted pension options
Why guaranteed income can give retirees psychological permission to spend
When comparing an employer pension with a commercial income annuity may make sense 
Andy's four-question framework for deciding whether lifetime payments fit your plan
Jackie's pension options and her final decision to turn on lifetime monthly payments
Where to find old or forgotten pensions from previous employers
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=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Tenon Financial website
Retirement Planning Education website
Andy's podcast 
Andy's Youtube 
Andy's LinkedIn
Retirement Savings Lost and Found Database
Pension Benefit Guaranty Corporation (PBGC)
Dinkytown.net- Pension vs. Lump Sum Payout Calculator
Estimate Immediate Annuities 
 
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⏰ Related Episodes
How K-12 Teachers Can Beat the Broken 403(b) System | Dan Otter & Scott Dauenhauer | 226
Retired Before 50: A Look at Her Real Finances, Numbers & Strategy | Andy Panko Crossover | 186 
Retirement Planning Tips | Andy Panko | 063
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

After Rishi Vamdatt's conversation with Bill and Jackie, his parents Renu and Raag step out from behind the scenes to share how their son became the 16-year-old financial educator behind Easy Peasy Finance. They believe raising a financially savvy kid has less to do with giving money lectures and more to do with letting them swipe the credit card at the grocery store and ask "what happens next"? Their approach was surprisingly simple: money was never taboo, questions were always welcome, and Rishi was allowed to follow his curiosity rather than being scheduled into oblivion. For late-starting parents, the reassuring message here is that you don't need to raise another Rishi. Just talk openly, model your values, and follow the child.
This episode covers
How Renu and Raag recognized Rishi's unusual interest in money from a very young age

Why money, income, mortgages, and family finances were never treated as taboo

How everyday activities like grocery shopping became natural financial lessons

The family effort behind the early years of Easy Peasy Finance

Why Rishi has turned down sponsorships, including significant offers, to protect audience trust

How Rishi's parents balance his mathematical approach with the emotional side of money

Why letting children lead their interests can be more powerful than filling every hour with activities

How Rishi balanced finance with theater, travel, fishing, scuba diving, video games, and being a regular kid

What parents can do differently to build financial fluency in the next generation

How financial values and openness traveled from grandparents to parents to Rishi

 
.
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Easy Peasy Finance 
Easy Peasy Finance YouTube
📕Easy Peasy Money 
Coverage on CBS News 
Kiplinger Article 
I Will Teach You To Be Rich (Ramit Sethi)  
 
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⏰ Related Episodes
This 16-Year-Old CFP Exam Passer Is Making Personal Finance "Easy Peasy" | Rishi Vamdatt | 231
Why 90% of Families Lose Their Wealth (and How to Stop the Cycle) | Julia Myers | 209
Is Your 401(k) a Mess? Do This Now (Step-by-Step Guide) | Bill & Jackie | 205
Money Scripts: Don't Get Scrooged! | Brad Klontz | 175
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

What if the person explaining money to your kids has already been doing it for more than half his life, and passed the CFP exam before he could legally vote? Bill and Jackie sit down with 16-year-old Rishi Vamdatt, founder of Easy Peasy Finance. Rishi started learning about money at six, investing at seven, and teaching personal finance on YouTube at eight. But this isn't just a story about an unusually motivated teenager. Rishi offers a surprisingly universal lesson: money gets easier when we strip away the jargon, practice with real dollars, automate the basics, and start where we are.
 
This episode covers
How Rishi passed the CFP exam at just 16 years old

The childhood experiences that sparked his fascination with money

Why he gave up birthday parties and started investing at age seven

How Easy Peasy Finance grew from kid-friendly three-minute videos into more than 1,300 pieces of financial content

What parents can do to teach kids about money without turning it into another lecture

Why allowances, real-life practice, and even small money mistakes can be powerful teachers

Rishi's simple approach to index funds, automation, and long-term investing

Why financial education should begin before high school

His take on Roth IRAs, 529 plans, Trump accounts, taxes, and estate planning

What a 16-year-old financial educator wants late starters to remember about beginning today

 
.
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
.
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
.
RESOURCES MENTIONED ON THE SHOW
Easy Peasy Finance 
Easy Peasy Finance YouTube
📕Easy Peasy Money 
Coverage on CBS News 
Kiplinger Article 
I Will Teach You To Be Rich (Ramit Sethi)  
 
.
⏰ Related Episodes
20 Questions from 20-Somethings About Money | Dr. DeLong, Emilie Stewart. Britton Carver | 208
Celebrating Financial Literacy Month with Next Gen Personal Finance | Tim Ranzetta | 072
 
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📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.

This is Part 2 of a 2-part Episode. Be sure to catch Part 1 that aired last week (August 2nd).
What if the safest-looking retirement portfolio is actually protecting you from the wrong disaster? In part two of Bill's bond marathon with Frank Vasquez, the conversation moves from Bond 101 into the question that really matters: what role should fixed income play once you stop accumulating and start living from your portfolio? Frank explains why bonds should be chosen for a specific job, why a total bond fund may be trying to do too many things at once, and why retirement planning should prepare for a bad decade. The ultimate takeaway is reassuring: bonds are complicated, but most people probably only need one or two bond funds chosen with an actual purpose.
 
This episode covers
How bond choices should change from wealth accumulation to retirement spending

Why the purpose of a bond matters more than simply deciding to "own bonds"

The weaknesses of total bond market funds such as BND

Why retirement portfolios should prepare for a difficult first decade

What Bill Bengen's research suggests about stocks, bonds, cash, and sustainable withdrawals

Why TIPS disappointed Frank during both the 2008 recession and the 2022 inflation shock

The limited situations where a bond or TIPS ladder may genuinely be useful

Why elaborate bucket strategies often behave like ordinary 60/40 portfolios

The risks of pairing a mostly stock portfolio with only two or three years of cash

Frank's four principles for designing a diversified retirement portfolio

 
=== SUPPORT  THE  SHOW ===
📩 Sign up for our newsletter
🌐 Visit Catching Up to FI website 
🔗Connect with us
☕ Like what you hear on Catching Up to FI? Support the show at "Buy Me a Coffee" 
🎙️We love hearing from you! Record a Voice Message with your feedback or question Record a Voice Message with your feedback or question

 
===DEALS & DISCOUNTS FROM OUR TRUSTED PARTNERS===
F.I.R.E. For Dummies
Did you know that co-host Jackie Cummings Koski, CFP®, AFC® is also author of "F.I.R.E. For Dummies"? This is the perfect guide for anyone looking to move from the basics of their finances to reaching F.I.R.E. (Financial Independence, Retire Early) and enjoying the time freedom it creates. Even if you feel behind on your finances, the steps in this book will help you catch up sooner than you ever imagined. 
Learn from someone who actually achieved F.I.R.E. in her 40s even after getting a late start 
Covers everything from basics to advanced strategies in one guide 
Practical solutions for early retirement obstacles like health insurance and early withdrawal penalties 
📕 Get Your Copy  (currently 40% off on Amazon)
For a full list of current deals and discounts from our partners, sponsors and affiliates, click here: catchinguptofi.com/our-partners
 
RESOURCES MENTIONED ON THE SHOW
Risk Parity Radio
 
⏰ Related Episodes
Are Bonds Dead?: Fixed Income Fundamentals (Part 1) | Frank Vasquez | Episode 229 
The 5 Investing Hurdles You Can't Ignore | Bill Bernstein | 201 
Mr 4% is now Mr 5% | Bill Bengen | 111 
 
📌Disclaimer: Our content is for general education and information purposes only. We are not providing financial, legal, or tax advice. Always do your own research or consult a professional before making important decisions.