SimplyFI
Common Sense Personal Finance and Investing - The UAE Local Chapter of the Bogleheads® and ChooseFI
SimplyFI Rules
By joining or being part of our Facebook group you agree to the following rules.
1. Keep it Friendly
2. No promotion of products and or services
3. No libel or defamation
4. SimplyFI position on long term saving plans
5. Use the Search Tool
6. Links Require an Introduction
7. No self-promo posts outside of our weekly “LAZY WEEKENDER THREAD
1. Keep it Friendly
Above all else, SimplyFI is a community. One of the most valuable things about this community is our diversity. We are comprised of thousands of members, each having unique experiences all around the world. So please, help us keep this group the amazing and positive space it already is by replying and contributing in a mature, friendly, and supportive manner. That does not, of course, mean you have to agree. But please share your viewpoints respectfully. No personal attacks or vicious debates of any kind will be tolerated.
2. No promotion of products and or services
This group is NOT a platform to promote products and or services. In order to keep this an educational platform, individuals selling products/services or advertising their own website will be asked to leave the group. We reserve the right to remove anyone from the group without warning.
No promotion of philosophies contrary to the Bogleheads message.
This group is a chapter of the Bogleheads. If you want to challenge the Bogleheads philosophy, this is not the place. If you want to understand how it works and have specific questions then please ask away!
In order to keep this an educational Boglehead platform, individuals promoting philosophies contrary to the Boglehead's message will be asked to leave the group. We reserve the right to remove anyone from the group without warning.
3. No libel or defamation
Please refrain from writing negative comments about specific individuals or companies as this is forbidden and punishable by the UAE law. Libel and defamation will NOT be tolerated in this group. We will monitor the discussions the best we can and we retain the right to remove unsuitable posts without warning.
4. SimplyFI position on long term saving plans
What about the long term savings plans or any insurance-linked saving plans that are usually sold in the region?
SimplyFI does not support the sale of long-term savings plans and whole life insurance as they do not align with the Bogleheads® principles:
The sum of all the fees involved in such plans are typically high and often not immediately obvious to the customer. Here is why keeping costs low is a core Bogleheads® principle. From a Bogleheads® perspective, the total expense ratio of a fund or an ETF should not exceed 0.5% and the sum of all fees involved in investing should not exceed 1%.
The products can be quite complex, with high surrender penalties that limit returns, particularly during the 'initial period.' Keeping it simple is an essential part of the Bogleheads® philosophy.
They tend to be invested in actively managed funds,
Which, on average, do not perform as well as index funds after fees over the medium to long term.
Which try to time the market, but most often fail to even match market returns.
Which, overall mainly benefit more the advisors and/or fund providers than the investors.
If you are in one of these plans, in most cases it is mathematically better to stop paying into them immediately, take the surrender value and start investing using the Bogleheads principles of low-cost index funds and diversification.
Given the libel and defamation laws in the UAE, we will close any conversation on this topic that names a specific firm or product.
5. Use the Search Tool
Before you post any question, take a moment to pop a few related keywords into the group’s search bar near the top of the group page or on the left sidebar (depending on whether you are seeing the mobile app or full web view). Of course if you don’t find your answer then ask away, but this will prevent you getting a lot of frustrated responses from other members or an admin. And, it will help ensure all of our personal facebook newsfeed are only filled with the most useful posts possible.
6. Links Require an Introduction
This is pretty self explanatory. We have found it cuts down on both spam and confusion. If you feel a link is important and relevant enough to share with the group, we encourage that participation. Please just include a brief blurb why you are sharing it in the group.
7. No self-promo posts outside of our weekly “LAZY WEEKENDER THREAD”
Once a week we have a post where everyone can share (self-promote) their own blogs, podcast, YouTube videos. This is the ONLY place that self-promotion can occur, outside of a targeted response to a question another member has asked.
It is permissible to post a link to a relevant article as a reply to a comment but please do not link to your home page or initiate new top level postings linking to your blog posts. If you do link to an article in a comment, please include a one sentence explanation of why your link is relevant.