Coming back from maternity leave after welcoming our daughter this spring has reminded me of what our work at Hill is really about: helping clients use their money as a tool to build lives rich in meaning, not just numbers.

Whether you’re navigating new parenthood, approaching retirement, or somewhere in between, the core questions often remain the same: What matters most? And how can your money support that?

Here are a few reflections that have stayed with me through this milestone.

Time Is Our Most Limited Asset

This season has made it clear: time is precious. As the saying goes, the days are long, but the weeks are short. At Hill, we encourage clients to think of time like any other resource, i.e., something to be used intentionally.

Having a baby sharpened my awareness of how valuable time with all generations can be. We’ve prioritized visits and calls with our parents and grandparents, including Merrill. One visual we often share is Tim Urban’s “Your Life in Weeks,” which maps the average lifespan as a grid of boxes, each one a week. Sam Harris captures the feeling well: “It always is later than you think.”

Experiences That Leave a Lasting Impact

One book that’s prompted meaningful reflection is Die With Zero, which invites readers to think intentionally about how they use time, money, and attention. One key idea is the “memory dividend,” that experiences created now continue to bring joy over time.

During our first family trip with Merrill, we bought matching tracksuits for three generations (thankfully not pictured on the cover of this post!). The laughter that moment created has become part of our family story, which is something we’ll carry forward.

When you “eventize” small moments, making them playful, meaningful, or tradition-worthy, you create experiences that stay with you long after the money is spent.

Freedom Through Planning

Taking the Long View isn’t about deferring joy. It’s about aligning today’s choices with your long-term values. For our family, that included investing in a high-quality caregiver–not only to support our daughter’s development, but to give both Walter and me the capacity to continue doing meaningful work. This single decision had ripple effects across our financial plan and peace of mind.

In our experience, thoughtful planning doesn’t restrict you. Instead it creates more space for the things that matter.

The Time to Act Is Now

Watching our daughter grow has been a reminder that certain windows of opportunity are fleeting. Whether it’s a trip you’ve been considering, a gift you’ve meant to give, or simply time with someone you care about, the moment to act may be now.

At Hill, we aim to help you simplify, clarify, and align your financial life so it supports the life you want to live. With a new rhythm, a deeper commitment to this work, and a fresh perspective, I’m more convinced than ever: the best investments are the ones that help us be present, generous, and fully alive.

There’s a well-known idea in the world of big-picture thinking, first introduced by historian Charles Mann, that people tend to fall into one of two camps when it comes to solving problems: wizards and prophets.

The wizard believes in the power of innovation. They chase breakthroughs, trusting that human ingenuity can overcome nearly any obstacle. In their view, the solution is out there. We just haven’t invented it yet.

The prophet, on the other hand, champions restraint. Prophets remind us of our limits, calling for thoughtful stewardship and humility. They believe real progress comes not from racing ahead, but from pausing to reflect, simplify, and align with deeper values.

This tension between wizard and prophet shows up in everything from climate change to technology, and even how we think about investing.

The Wizard

In investing, wizard energy often shows up as the lure of the new:

• A product promising market-beating potential
• A hot stock expected to soar
• An app that promises to automate everything overnight
  

The wizard pursues complexity and fast results. And in moderation, this mindset has its place. Without it, we wouldn’t have low-cost index funds, digital account access, or the academic breakthroughs that helped shape evidence-based investing.

But unchecked, wizardry can lead to chasing fads, mistaking novelty for progress, and believing the next big thing is always just a click away.

The Prophet

Prophets bring a different mindset to investing. They emphasize what’s within our control: saving consistently, diversifying broadly, and sticking to a long-term plan. They ask deeper questions like: How can I align my money with my values? And what will make this last?

This approach can feel quieter, but over time, it offers clarity, resilience, and connection to what matters most.

Better Together

At Hill, we aim to balance both perspectives. Like the wizard, we embrace smart innovation, leveraging tools and research when they align with long-term evidence. And like the prophet, we build portfolios and plans around timeless principles: patience, discipline, and long-view thinking.

Financial progress isn’t about choosing sides. It’s about responsible stewardship and intentional alignment so that your money supports a life of meaning and purpose.

Welcome to the age of the “finfluencer.” While some have genuine experience, many are focused on views, and not your best interest. At Hill Investment Group, we believe that real advice should be simple, clear, and grounded in evidence, not hype. That’s why we’re launching a new series to unpack misleading ideas that circulate online or in print.

Our goal? To inform, not entertain. To offer substance, not speculation.

Heard something at work, at golf, or on social media that has you asking, “Should I be paying attention to this?” Feel free to share it with us. We’d love to help unpack it. Submissions will remain confidential unless we get your permission to share anonymously. Send to: zenz@hillinvestmentgroup.com

Please note: Submissions are reviewed for educational purposes only and do not constitute personalized investment advice.

If you follow finance influencers online, you’ve probably seen a version of this pitch: “All you need are these ETFs.” More often than not, that list includes VOO and QQQ, and little else.

It’s a compelling idea. Over the past decade, these two funds have benefited from strong performance by large U.S. companies, particularly the tech sector. But a closer look at what’s under the hood reveals a more concentrated and potentially less diversified portfolio than many investors realize.

What These Funds Represent

VOO is an index fund tracking the S&P 500, which includes large U.S. companies. QQQ tracks the NASDAQ-100 Index, which also focuses on U.S. large-cap companies, particularly technology-oriented names. While they are separate funds, they share many holdings.

In fact:

• Roughly 85% of QQQ’s holdings also appear in VOO.
• The overlap in weight between the two strategies is around 50%.

That means holding both may result in doubling up on the same exposures, mainly large U.S. tech and growth-oriented companies.

Additionally, QQQ’s higher expense ratio reflects the licensing cost of tracking a proprietary index, as well as required marketing efforts. While high fees alone don’t negate a fund’s  merits, investors should always ask themselves if they can get similar investment exposures without the additional costs dragging down performance. 

What’s Not Included

Holding only VOO and QQQ may leave meaningful portions of the global capital markets untapped. These include:

• Small- and mid-cap U.S. companies
• International developed markets
• Emerging markets

Together, VOO and QQQ cover a significant portion of the U.S. market but only represent about half of the global investable opportunity set. Omitting the other half may reduce diversification and limit exposure to other potential sources of return.

For instance, in some years, areas outside the U.S., such as international stocks, have delivered notably stronger returns than their domestic counterparts. That rotation is unpredictable and has lasted over a decade when looking at historical returns.

A Broader Perspective on Diversification

Low-cost index funds can be valuable building blocks, but true diversification often means looking beyond the most visible names. A globally diversified portfolio typically includes exposure to companies of varying sizes, styles, and geographies. This broader approach is designed to manage risk and capture returns from multiple parts of the market, not just the ones making headlines.

The Takeaway

There’s nothing inherently wrong with VOO or QQQ. They offer relatively efficient access to major segments of the market. But using them as your only strategy may leave diversification and opportunity on the table. We know you can do better. An evidence-based investment approach typically considers a wider range of asset classes, grounded in long-term academic research rather than short-term trends.