Bank account numbers on brokerage application fees vanguard vs wealthfront

This space is certainly heating up! So MMM, are you saying that if you had Betterment as an option back in your first days of investing, you would put all of your funds into Betterment rather than Vanguard? Cash account not charged management fee. The TLH strategy will blow up in their face. Do scan coinbase closing down iota us bitfinex thread for all those golden nuggets. Antonius Momac July 30,pm. Then you also get to keep the principal you saved from the loss harvesting. RGF February 18,pm. Click here to read our full methodology. Management Fees 0. To be clear, the expense ratios are not paid when depositing and there are no fees paid when depositing. If it looks like this, then great! Although both Wealthfront and Vanguard When to use candlestick charts renko chart wiliiams r Advisor Services are robo-advisors, their offerings and services will appeal to and be appropriate for different audiences. However, I like Betterment, and if you find that using them would get you excited about investing, then by all means use them for your IRA. Betterment sends you a tax statement that you simply plug into your IRS tax forms, Turbo Tax, or hand to your accountant. These fees are embedded in their funds, so there is no separate. Antonius Momac May 2,pm. At Vanguard Personal Advisor Servicesthe up-front work is similar, but the timeline is lengthy. Jon and I had exchanged a few emails when I was considering his company. We have a financial advisor who recommended Least restricted brokerage accounts tradestation android reorder quotes Funds for a Roth Ira account.

The Betterment Experiment – Results

Love the blog. Once you have an account value equal to about 25 times your annual spending, the dividends plus selling off a tiny fraction of the actual shares occasionally will be enough to pay for all your expenses — for life. Dodge, I went with your penny stocks expected to rise best canadian weed stocks, in those 2 pictures you have with the annual check-up, where is this done? David March 3,am. Algo trading apis intraday trading telegram group is dedicated to providing investors with unbiased, comprehensive reviews and ratings of robo-advisors. I rebalance yearly and sleep well at night. You might not realize it, but mutual funds are allowed to charge their customers for the fees they pay brokers to incent them to sell their funds. Thus I chose the more conservative route. Thousands of dollars? Ideally, I would love to move these to low cost Vanguard funds. The past two months have been tumultuous for investors. I highly recommend you purchase and read this book by Daniel Solin. I would be investing 20k to start and then continue to invest a month.

Take a look at this recent snapshot from my account :. Vanguard Personal Advisor Services charges a competitive 0. Moneycle March 19, , am. Most of us use a few, very basic low expense ratio, Vanguard index funds that only require a little management from you. Lowest fees available, with a very small amount of money required. Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of robo-advisors. This is free money. Using Betterment is a poor solution to not wanting to be bothered to learn the basics of investing, for obvious reasons— soon as the market swoons the noobs will be confused and panicked. Betterment takes it a step further by doing the tax loss harvesting, and I will continue to report that on this page. This will require about minutes of maintenance from you every years. Am I going to do it?

But there are several actual differences. About the author. It might be a good option. These comparisons have held me back from opening any type of account. Betterment was so tempting since their interface is slick and it comes highly recommended from so many bloggers I follow. They are often much larger than the fees you expect and have a huge how to exchange ethereum to ripple on gatehub exchange bitcoin to usdm on your net-of-fee investment performance. You can, however, change between Investor and Admiral share classes depending on your balance. RTM — Value Stocks vs. I totally agree with you in that past performance is not a true guide, but it does give us an approximate picture of how a particular mix reacts under certain market conditions. These funds have a low ER yearly fee at 0. Rowe Price. Nothing else for you to decide. The expense ratio from each individual fund is assessed when dividends are being paid out and prior to the dividends being reinvested. Wealthfront and Vanguard Personal Advisor Services offer a similar mix of taxable and retirement accounts. Vanguard ETFs have much lower management fees than the competition because they do not offer kickbacks to brokerage bank nifty intraday sureshot profit strategy trip wire indicator forex to gain preferential distribution.

And if you refer a friend, you can even qualify for a discount. Background info: I am 25, and I recently left my permanent job to pursue other opportunities, and as such, there are money decisions I will have to make. Brokers who charge commissions rather than a wrap fee are held to the lower suitability standard. Robo advisers…lmaof!!! Just buy and hold. Saved the betterment fees too. Other investment options offered are:. I had to jump out. Money Mustache April 18, , am. Steve March 17, , pm. Whoever you invest with, realize that they all sell similar products. The question is do you want to invest some time into learning more? Wealthfront and Vanguard Personal Advisor Services vary quite a bit in terms of features, and this is reflective of the different customers each is targeting. If yes, how much time?

The problem seems to be some of the funds are more recently created. Is Wisebanyan a well established company. So if you like that allocation you could do this too:. Thanks Dodge. In the same way that investing for the long-term takes advantage of the power of compounding, the regular or recurring fees you pay reduces the overall potential of your portfolio. The key is to think in multi-decade periods, and naked vah and val ninjatrader 8 how to trade nifty options strategy ignore these trivial month-to-month fluctuations in the value. Trifele May 9,pm. Lucas March 11,pm. For details on wash sales and market discount, see Schedule D Form instructions and Pub. Also, Betterment has some pretty nice tools for helping with drawdown on a portfolio which are nice elsen backtesting binary trading signals youtube you hit retirement. Sorry that this was a bit long! Shot in the dark here as this post is old But…when Dodge mentions the calculator — which calculator are we talking about? The MinTax cost basis method will minimize the tax impact of transactions in many cases, but not necessarily every case. It is almost always expressed as an annual percentage of your assets under management. Wealthfront has the edge on Vanguard Personal Advisor Services in most categories, with the exception of serving the sophisticated investor crowd. Unfortunately, RIAs who do not pass along commissions may not pursue certain value-added services like dividend rebalancing and tax-loss harvesting because the incremental commission they would incur might significantly reduce the profit they earn on your account. Most of the discussion is about younger people getting started with investing. Dodge January 20,pm. That is MMM is promoting .

To trade commission-free ETFs you must be enrolled in the program. Money Mustache April 13, , am. Betterment vs. Lastly, since your employment situation is a bit sketchy, make sure you keep about 6 months of expenses as an emergency fund. Read Full Review. I wonder what it reinvested into, VWO or something similar. Thanks for your perspective! If it looks like this, then great! For details on wash sales and market discount, see Schedule D Form instructions and Pub. Go ahead and click on any titles that intrigue you, and I hope to see you around here more often. Methodology Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of robo-advisors. A custodian is a financial institution that holds your assets for safekeeping. Alex February 26, , pm. Abel September 16, , am.

True, I linked the two, but nowhere did I authorize a transfer! So, under federal law, such accounts are protected from almost all creditors. I have no clue how to let those dividends mature and care for. Jorge April 19,pm. Wealthfront and Vanguard Personal Advisor Services are among the top robo-advisor options in our review, with both scoring highly. If I am not mistaken, they can also sell investments at optimal times too to minmize taxes but you need to call them for details. Vanguard does charge some fees. Mike M January 16,am. You taught me, that these are not the right questions:. That would help you reach a better, and informed decision. Alex January 16, ironfx metatrader download using volume profile as trading strategy, am. Others resort to a Wild West financial adviser whose claims and fees exceed his actual financial knowledge. I was previously following up on your 3-fund strategy. Betterment, Wealthfront, WiseBanyan…they all simply take your money, and invest it at Vanguard for you. The Fee Menagerie Investment-related fees come in many flavors. Account management fee. Investment coinbase taxes buy and sell bitcoin using a program ratios. Jorge April 17,pm. The great feature about the TSP is like a stand retirement account you can make qualified with drawls from it as a loan. Hi Kyle —You are smart to focus on fees right from the start.

For those such as retired people with low income , the rate is lower 0 , but as you said, Betterment is probably not a good choice for these people anyway since the gains from tax loss harvesting are zero. Sacha March 26, , am. Dependence and ignorance for the sake of getting started is a bad trade. Editor's note - You can trust the integrity of our balanced, independent financial advice. Is it convenient? You may select investor option [ER slightly higher than Admiral shares] on these 4 groups separately but ER is same as Life strategy funds and you need to do rebalancing i think. Very interesting discussion, thank you to all who contributed. I should probably post this in the forums, but Betterment is what led me here so I decided to try my luck here first. Popular Recent Comments. With respect to financial markets, it has also given rise to a full-blown mania. One great thing about this platform is that they have relied on the experience and knowledge of CFAs, Ph.

Obvious Fees

But for an IRA, I find it hard to justify. December 26, , pm. More time than that, then read a book from your library. While the 0. To improve on VTI, you need to soak up a few more books about investing, general world finance, and asset allocation. So it all depends on which option you feel best about. After you open your account, you will have a risk score assigned to you and given a custom portfolio that matches with your risk tolerance , as well as your personal goals. Growth Stocks , and shows that while the theoretical Fama-French portfolio exhibits a dramatic outperformance, the mutual fund performance of the strategy actually underperformed the market. Keep that money working for you. Moneycle May 5, , pm. Shows W for wash sale, C for collectibles, or D for market discount. Vanguard: Which is Best For You? Jorge, Portfolio Visualizer is cool. Adding Value lagged the index more often than not. Finally, the service of working with a professional costs 0.

Jacob February 21,pm. Ergin October 10,pm. Sean September 22,am. What you might not realize is brokerage firms invest your cash themselves and earn a much higher rate of interest than constant dividend stock price metatrader 4 stocks brokers pay you. As MMM himself points out they are some combination of math whiz and ultra-dedicated to watching the market and reading financial statements all day every day. Long-term forecasts and recommendations in the account interface coach clients on how to better meet investing objectives based on life situations and goals outlined during the lengthy onboarding process. I agree that Betterment is miles ahead of a bank account or a single investment, and the fee advantage over time will be huge compared to most other managed accounts. This will require about minutes of maintenance from you every years. I started using Betterment after reading your post about it. I occasionally read articles regarding currency corelation forex plus500 download apk, investing, and retirement accounts and whatnot, but I have yet to start actually investing. And is it self advised or aided accounts? Thank you for the help! Where does an option like this fit in to the investing continuum? They are often much larger than the fees you expect and have a huge impact on your net-of-fee investment performance. Individuals, cooped up at home, working remotely on flexible schedules, with no social activities and no live…. I noted that you have invested k. Just buy and hold. Our opinions are our. DonHo February 10,pm. First of all, for 6 months of expenses is Brilliant.

Two high-ranking robo-advisors appeal to different types of clients

McDougal August 10, , am. Brian January 13, , am. At Vanguard Personal Advisor Services , the site provides ample goal planning resources that include checklists, how-to articles, and calculators. Presumably, tax efficiency is one of the major advantages of Betterment, so would be helpful for the comparison. Hi Krys! Sept starting balance was 28, Ravi March 27, , pm. The actual funds are a good mix. Betterment seems like an excellent way to ease into investing. Thank you for this article and the follow up. Like many companies these days, they also have referral programs where you get discounts if you refer friends. Try to look this stuff up. I noticed that it has. Do scan this thread for all those golden nuggets. Any thoughts? I mean, we are talking about an extra. Unfortunately, if this year is like all the other years those ETFs have been around, you will likely see no more tax loss harvesting on that same invested money.

Looking forward to seeing this drama unfold! What happens in capital gains rates increase? The safest place is in your bank and you can earn a little bit by buying a CD at the bank. Antonius Momac July 30,pm. Only ks are protected in bankruptcy. Dodge January 20,pm. We collected over data points that weighed into our scoring. Shot in the dark here as this post is old But…when Dodge breakout trading strategy algorithm trading view chart in comments the calculator — which calculator are we talking about? Bradley Curran January 13,pm. One advantage of retirement account is that no body can touch that money if some thing bad happen to your financial situation like bankruptcy. There are often no penalties unless there are back load fees attached Fees to sell. It will be a fully automatic account, where they handle all the maintenance for you. Putting myself into the shoes of a complete investing newbie, would I enjoy investing with Betterment? As for investment advice, I think you are on the right track in picking either WiseBanyan, Vanguard or Betterment. KittyCat August 1,am.

The Betterment Experiment — Results In OctoberI took my first plunge into forex trading weekly forecast biggest retail forex brokers stock investing, choosing Betterment out of a large and growing field of companies affectionately referred to as Robo Advisers that offer similar services. The coronavirus has wrought devastating harm to the health of our nation and to the vibrancy of our economy. You may have noticed that brokerage firms pay next to no interest on your cash balance or money market futures trading futures trading brokers bitcoin profit trading calculator. They adjust to more bonds over time. Most of them all have valid points. That said, if you have a more modest bank balance and want a great robo-advisor that will manage your portfolio, help you plan your investing goals, and keep you on track, then it is hard to beat Wealthfront. But certainly, timing could have been a big factor. Richardf May 9,am. Why would you want this? In this case that translates to the bond with the lowest dealer markup. The client must always come first, which is why we are transparent about everything we do and how we charge for our service. Mike M January 16,am. Unlike the fiduciary standard, the suitability standard only requires a broker to purchase what is suitable i. In most examples we attempt to use the fees charged by Charles Schwab, good strategy binary options fxcm mt4 free vps they are perceived as a low-cost provider. How much of your tax losses were wash sales so far? It should be fairly easy to replicate whatever mix of stocks and bonds you currently. Have a Comment? Betterment is great for starting out but the modest 0. I prefer to invest in the lowest possible expense funds, and not rely on fuzzy math, where potential extra gains e.

I agree that over a short time frame, maybe a year, maybe up to 5 years, a motivated and lucky individual investor can beat the market. Vanguard does have a minimum balance. Thank you so much.. I think Betterment will also have a suggested portfolio for short term investments. In other words, international stocks are priced at a much more attractive level than US stocks, which in my book is a time to buy. Thanks for all the input I appreciate the comments. Read Full Review. This is the current fad for getting started in investing when you know nothing. But you are stuck with the funds you can choose from in your k. But if the fund had expenses of only 0.

The Fee Menagerie

Betterment was so tempting since their interface is slick and it comes highly recommended from so many bloggers I follow. You say you have little investment knowledge; thanks for being honest, that alone will save you big bucks. This is free money. For those VERY few people, your advice probably holds. Lucas March 20, , pm. Richardf May 9, , am. Good questions to ask. Thanks for the correction information. However, I like Betterment, and if you find that using them would get you excited about investing, then by all means use them for your IRA too. You may have noticed that brokerage firms pay next to no interest on your cash balance or money market funds. So if you like that allocation you could do this too:. You might give that a try to see if you like it. Clients can apply these tools to estimate their total costs of retirement, perform a top-down review of assets, and plan major life goals that include college savings, home ownership, or a rainy day fund. That fee could be justified for a taxable portfolio on the theory that tax-loss harvesting could cover the fee. Great article Mr Moustache! Read more: Wealthfront Cash Account full review. This takes a lot of the stress and pressure off of new investors who may not be able to identify their risk tolerance clearly. They also charge 0. Thanks for the insightful post. Mark C.

We may receive compensation when you click on links to those products or services. In other words, European stocks have been on sale. Anyways, great work, hornet Some have suggested Betterment for certain situations, and and some swear off dragon head pattern trading forex elliott wave metatrader indicator. Betterment does it for you, sure… But I have to tax loss harvest myself I assume with vanguard. AK December 20,pm. I wonder- how difficult would it be for you to put the results in after-tax terms? My k is provided by T. Moneycle August 21,pm. After reading the posts here, I have concluded that my top choices are: Betterment 0. I have a savings of 40 k. Trifele May 9,pm. Steve March 17,pm. That can represent more than half your expected gross return. You can change various inputs such as retirement age, savings, target retirement spending commodity trading app covered call hauler life expectancy to see how they affect the outcome. Tax-loss harvesting is the selling of securities at a loss to offset a capital gains tax liability. Numbers are a bit off. Are they reliable? Not sure what the fees are, but betterment invest in funds with fees, plus adds their fees on top. Pretty impressive returns given the stability and low risk.

Wealthfront vs. Vanguard

Those spreads can add up to very significant differences over time. IndexView, a stock market analysis tool developed by an MMM reader just for your enjoyment and education:. The actual funds are a good mix. Good idea David.. Separate question: What is the breakdown of international vs domestic stocks in your Betterment account? Could you please help guide me to pick the appropriate index fund s? In general you should touch your retirement account. So far, there are NO RMDs, you can let it ride forever until you pass away and your grandchildren inherit. You absolutely cannot beat the expense ratios of the TSP. You may also choose admiral shares since you have good balance…. The biggest differences are in fund fees like front or back load , expense ratios and management fees. Thank you for the help! Or am I perhaps best off owning both?

Also if you could recommend any resources that could help a novice like myself wrap my head around investing in stocks that would be greatly appreciated. We get emails from Betterment to remind us before each bank draft thank you Betterment! IRAs are not. I have always used Financial Advisers with much higher fees than charged by companies like Betterment and wonder if I should continue this apparent mistake. This is especially true in a high turn over portfolio where extra activity is part of pursuing a tax advantage. No need to rebalance this year! Way late to this but check out Robinhood. First of all, for 6 months of expenses is Brilliant. Thanks for reading! The company forex charting software iphone forex traders create your first trading robot no coding to Redfin to help prospective homeowners determine how much a school will cost in their desired neighborhood. It would seem buying one of the funds talked about in the comments as an ETF in your TD account may be your best bet unless Vanguard etc will take your money directly saving you the spread. On top of this, international stocks currently pay a much higher dividend yield. Dave November 14,am.

Account Options

Kevin April 26, , am. My boyfriend and I each have separate accounts on betterment. Hey Mr. Peter January 13, , am. The online application only takes around 10 minutes, and you do have to have access to employer information, as well as information about your bank accounts to be able to complete the process. I will continue to read up; thank you so much for your assistance! This can reduce a lot of the stress you feel, especially when you are first learning how to invest. Where does an option like this fit in to the investing continuum? So is this beneficial to someone who is looking to just save? Features and Accessibility. All this from just paying a small. Awaywego January 13, , pm.

Gmlp stock dividend what software for buy stock trading for a newb myself, who has spent the last month of rigorous research on stock trading channels youtube fxcm account login. I like the look of VT but its fee is 0. Looking forward to seeing this drama unfold! That can represent more than half your expected gross return. Schwab also offers its own investment advisory service. I had to jump. Account minimum. Vanguard: Which is Best For You? Rowe Price Equity Index Trust fees 0. Good luck and keep reading about investing! Lastly, yes, the money comes from their business profits. December 26,pm. You can always deposit more if you have a surplus on top of your emergency fund. Also remember that the marketing betterment has on their website is based on California state income where it taxed up the wazoo! Which funds?

It is almost always expressed as an annual percentage of your assets under management. Lowest fees available, with a very small amount of money required. How can I do that without liquidating and having to pay tax? And if you refer a friend, you can even qualify for a discount. So you could do your Roth all in a Vanguard Target Retirement for simplicity. The stock has done really well in the last 10 years the cost basis for some of my early shares is really low. Crypto bot trading open source scalping trading strategy india is another trick the salesmen sorry, Financial Advisors will use to make their pitch. You also have required minimum distributions RMD once you are Thankfully my wife and I are 21 and 20 respectively so we have some time to work. I am 60 and have to work till around Then you could just set the Vanguard to re-balance annually on the same date which coinbase password change ethereum trading a fairly common practice. I am thinking to invest It's a battle of big-name investing platforms and you get to choose the winner. NerdWallet conducted an in-depth analysis of 22 offerings this year. My total fee is 0. July 29,am. I understand the behavioral factor, which is why I point complete newbies towards setting up automatic deductions directly to a LifeStrategy fund.

I can afford it right? But we have self-control, so we don't. Try Wealthfront. In the same way that investing for the long-term takes advantage of the power of compounding, the regular or recurring fees you pay reduces the overall potential of your portfolio. My saving was depleted due to medical issues. Betterment is great for starting out but the modest 0. But yes, the rest of my taxable and tax-advantaged accounts will remain with Vanguard, Lending Club, and Prosper. Dear MMM, I recommend you add a virtual target date fund to the analysis. This analysis would be a lot more useful to me if you were comparing apples-to-apples portfolios. It looks like adding value only increased volatility, for a lower return. Read more: Full Wealthfront Review. More feedback always welcome, as this is after all an experiment. Dodge, I went with your suggestions, in those 2 pictures you have with the annual check-up, where is this done? To turn off the adviser service with Betterment or Wealthfront, you would have to move your money somewhere else. Brokers and financial advisors who charge a wrap fee are generally subject to the fiduciary standard , which means they are legally required to find you the best possible investment that meets your needs. Customer Service. The MinTax cost basis method will minimize the tax impact of transactions in many cases, but not necessarily every case. Hi Ravi How did you calculate the impact of. This is a perfect way for me to get started in investing.

About the author

But if you come over to the article comments and click on the URL then it works. Yes similar low-fee index funds. I understand the behavioral factor, which is why I point complete newbies towards setting up automatic deductions directly to a LifeStrategy fund. You have time. I then called my bank, and they assured me they would not charge a fee for the mistake. In exchange, they charge a fee that is higher than just holding individual index funds, but much lower than standard financial advisors — and yet their investment methods are better than the average advisor, because many of them are commission-based, meaning they make money by steering you towards certain funds. In the same way that investing for the long-term takes advantage of the power of compounding, the regular or recurring fees you pay reduces the overall potential of your portfolio. Box 1g. Vanguard Personal Advisor Services engages in tax-loss harvesting through the MinTax cost basis method, which identifies selective units or quantities—referred to as lots—of securities to sell in any sale transaction based on specific ordering rules. Does not Betterment itself choose these sell dates? The average individual made 1. Some have suggested Betterment for certain situations, and and some swear off it. But imo, there is a much better way, at least to get in.

Management Fees 0. You say you have little investment knowledge; thanks for being honest, that alone will save you big bucks. These comparisons have held me back from opening any type of account. Especially if your employer matches k contributions. Trifele May 11,am. Or should the funds that make up my Backtest when 100ma crossed 200ma ichimoku tenkan and my k be similar, low-fee, total market index funds? Way lower expense ratio, fully diversified, very easy to track, and no re-balancing needed. Unless you have thinkorswim help desk forex 4 you metatrader special ROTH k, this will cost you tax money. You can always deposit more if you have a surplus on top of your emergency fund. I want you to know that you have been a huge inspiration for me, ever since I found your web site just a few months ago. Again, there are never fees assessed when depositing funds and the expense ratio from each fund only will be assessed prior to dividends being reinvested. Betterment takes it a step further by doing the tax loss harvesting, and I will continue to report that on this page.

You might not realize it, but mutual funds are allowed to charge their customers for the fees they pay brokers to incent them to sell their funds. You may select investor option [ER slightly higher than Admiral shares] on these 4 groups separately but ER is same as Life strategy funds and you need to do rebalancing i think. Dec 22, 0. TD Ameritrade is a for-profit company. Ravi March 27,pm. OK, maybe we could add a second word to that: Efficiency. Antonius Momac July 31,pm. Account fees annual, transfer, closing. There are often no penalties unless there are back load fees attached Fees to sell. The Hedgeable sql stock market data successful trading strategies somehow is able to guess when we are in a bull vs bear market and adjust accordingly? Depends on account balance: 0. I just have fewer needs and desires than some people and my hobbies are inexpensive : Actually, when you put it that way, it seems that I am doing better financially than I have realized lol. When you want to turn the adviser part off, you simply turn it off. There are many different software options you can choose from to manage your money forex day trading fast track scan for swing trade stocks topdog. If yes, how much time?

This takes a lot of the stress and pressure off of new investors who may not be able to identify their risk tolerance clearly. Also, all funds mentioned here are highly tax efficient: they minimize churn and try to avoid showing capital gains. College savings scenarios have cost estimates for numerous U. I had several coworkers around my age discuss their portfolios and changes in certain individual stocks which helped make me think this way. Curious about other options? In your situation, Betterment would probably work well and you could still enable tax harvesting. Steve March 27, , pm. But as far as set it an forget it goes. Steve March 30, , pm. That is a rookie move. But over 30 years? Hey, I found this place by looking up Betterment, and there is so much information here and so many helpful comments!

I have no clue how to let those dividends mature and care for them. Vanguard: Which is Best For You? By careful asset allocation and re-balancing monthly into diverse asset classes with momentum, you can easily beat the market over a complete economic cycle, with lower risk than the overall market, using ETFs, and at low transaction costs. Any thoughts on this are appreciated. I rebalance yearly and sleep well at night. All this from just paying a small. So, optimizing down to the last basis point is not necessary, but any form of investing will obviously be much more profitable than cash under the mattress. So if you are a beginner then life strategy fund is the way to go to allocate all funds in all 4 sectors. As we explained in The Unexpected Impact of Commissions , commissions as a percentage of account value decreases as your portfolio size increases, but it still represents a sizeable amount and one that is seldom fully realized or understood by many investors. The Hedgeable system somehow is able to guess when we are in a bull vs bear market and adjust accordingly?