Could This Be the Next Big Thing at Google and Amazon?

Could Google or Amazon get into the banking business?

Feb 22, 2014 at 1:30PM

BBVA has decided to purchase the banking platform, Simple – does this open the door for Amazon (NASDAQ:AMZN) or Google (NASDAQ:GOOGL) to get into the banking business? Simple is not a bank, but only provides the front-end customer experience for users. Simple uses the banking services of the FDIC-insured, The Bancorp Bank.

In this segment of The Motley Fool's financials-focused show, Where the Money Is, banking analysts Matt Koppenheffer and David Hanson discuss the possibility that Google and the other tech giants could move into the banking space.

David argues if Google was able to market its service as ultra-convenient and secure, it could be a great move for the company. Meanwhile, Matt points out that Amazon already has the trust of the its customers via the countless transactions already conducted on its platform. While the idea could ruffle the feathers of Facebook (NASDAQ:FB) users, if done correctly, banking services through Facebook's platform could make its user base significantly more "sticky" and willing to spend time on its services rather than new upstarts.

How the Internet will turn the banking world on its ear
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David Hanson owns shares of Facebook. Matt Koppenheffer owns shares of The Motley Fool recommends, Facebook, and Google. The Motley Fool owns shares of, Facebook, and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

A Financial Plan on an Index Card

Keeping it simple.

Aug 7, 2015 at 11:26AM

Two years ago, University of Chicago professor Harold Pollack wrote his entire financial plan on an index card.

It blew up. People loved the idea. Financial advice is often intentionally complicated. Obscurity lets advisors charge higher fees. But the most important parts are painfully simple. Here's how Pollack put it:

The card came out of chat I had regarding what I view as the financial industry's basic dilemma: The best investment advice fits on an index card. A commenter asked for the actual index card. Although I was originally speaking in metaphor, I grabbed a pen and one of my daughter's note cards, scribbled this out in maybe three minutes, snapped a picture with my iPhone, and the rest was history.

More advisors and investors caught onto the idea and started writing their own financial plans on a single index card.

I love the exercise, because it makes you think about what's important and forces you to be succinct.

So, here's my index-card financial plan:


Everything else is details. 

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