The Vanguard Australian Shares Index ETF (ASX: VAS) is a leading exchange-traded fund (ETF) that enables Aussies to invest in the S&P/ASX 300 Index (ASX: XKO). The dividend-paying nature of many of the large blue chips in the portfolio can appeal to retirees.
ASX ETFs can provide a very simple way for investors to track the performance of a particular share market or industry. Low fees are one of most appealing qualities of index funds like the VAS ETF.
We’re going to look at how effectively the VAS ETF can help grow our wealth.
Strong dividend income
An ETF passes any dividends it receives onto investors, so if the underlying holdings have a good dividend yield, the VAS ETF can provide a solid overall dividend yield as well.
According to Vanguard, the Vanguard Australian Shares Index ETF has a dividend yield of 3.7% (which doesn’t include the franking credits).
That high yield is thanks to sizeable allocations to stocks like BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), National Australia Bank Ltd (ASX: NAB), Westpac Banking Corp (ASX: WBC) and ANZ Group Holdings Ltd (ASX: ANZ).
If someone’s portfolio has a higher dividend yield, it means they don’t need as large a wealth balance to generate a targeted amount of dividend income. For example, a $1 million portfolio with a 3.7% dividend yield generates $37,000 in annual dividends. If a fund had a 2% dividend yield, someone would need to have a $1.85 million balance to receive the same $37,000 of cash flow.
On this side of things, the VAS ETF can help people retire earlier. Reaching a lower balance is more attainable for investors.
Slower capital growth
ASX blue-chip shares like BHP, CBA and the other ASX bank shares are not known for delivering strong capital growth compared to global stocks like Alphabet, Microsoft, Nvidia and Amazon which have grown enormously over the long term.
The heavy influence of the banks and miners on the ASX 300 has resulted in quite slow capital growth for the VAS ETF. In the past ten years, the ASX ETF has achieved average capital growth per annum of 3.2%, and in the last three years, it has seen average capital growth of just 1.9% per annum.
Even with the dividends, the total return (dividends plus capital growth) of the VAS ETF over the past three years and ten years has been an average of 7.1% and 7.7%, respectively.
Compare those returns to the Vanguard MSCI Index International Shares ETF (ASX: VGS) â an ETF focused on the global share market – which has returned an average of 12.7% per annum since inception in November 2014.
If someone invested $1,000 a month for 20 years and the investment produced an average return of 12.7%, it would become worth $938,000.
Investing $1,000 per month for 20 years in an investment that produced an average of 7.7% per annum would grow to $531,000.
That’s a big difference and shows how important capital growth is. However, the global share market isn’t guaranteed to continue its long-term outperformance.
For someone wanting to reach a certain investment balance, the VAS ETF has not demonstrated as strong a performance as globally-focused funds like the VGS ETF.
Foolish takeaway
The Vanguard Australian Shares Index ETF is a decent option at under $100 per unit for investors looking to receive dividend income.
The VAS ETF can help investors reach retirement, but other options could deliver stronger total returns, which may be more helpful for bringing forward an early retirement.
Should you invest $1,000 in Vanguard Australian Shares Index Etf right now?
Before you buy Vanguard Australian Shares Index Etf shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Vanguard Australian Shares Index Etf wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Suzanne Frey, an executive at Alphabet, is a member of The Motley Foolâs board of directors. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Foolâs board of directors. Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Microsoft, and Nvidia. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool Australia has recommended Alphabet, Amazon, Microsoft, Nvidia, and Vanguard Msci Index International Shares ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Commonwealth Bank of Australia (ASX: CBA) share price has soundly outperformed the S&P/ASX 200 Index (ASX: XJO) in the last six months, rising by 17% compared to the index’s 11% increase.
After such a strong run, investors may be questioning whether the ASX bank share can still be a good investment with the price/earnings (P/E) ratio now above 20.
The higher the earnings multiple valuation goes, the more risk there is of overpaying. Valuation itself can be an issue with an investment.
Expert’s rating on CBA shares
Writing on The Bull, Arthur Garipoli from Seneca Financial Solutions has called Australia’s biggest bank a sell.
He gave his verdict after looking at the FY24 third-quarter result which was “marginally better than expected”. Garipoli noted the CBA update reflected “similar themes to its peers”. The expert then said:
We note a decline in net interest margins and lower revenue growth coupled with increasing cost pressures. We acknowledge CBA is the premier bank, but we can’t justify its valuation premium compared to competitors. Investors may want to consider taking a profit.
The quarterly profit generated by the bank was approximately $2.4 billion, down 5% year over year. CBA reported a loan impairment expense of $191 million, with collective and individual provisions “slightly higher”. The bank said its lending portfolio’s credit quality remained “sound”, though there were “moderate increases in both consumer arrears and corporate troublesome exposures”.
Valuation premium compared to other ASX bank shares
There are a few different ways to value a business, with the P/E ratio being one of the easiest methods.
As mentioned above, CBA shares are trading on a much higher earnings multiple than peers. According to the (independent) forecast on Commsec, the CBA share price is valued at 21x FY24’s estimated earnings.
Now, let’s compare that to the other major banks using the forecasts on Commsec.
The ANZ Group Holdings Ltd (ASX: ANZ) share price is valued at 12.6x FY24’s estimated earnings.
The Westpac Banking Corp (ASX: WBC) share price is valued at 14.5x FY24’s estimated earnings.
The National Australia Bank Ltd (ASX: NAB) share price is valued at 15.4x FY24’s estimated earnings.
Based on those numbers, CBA’s P/E ratio is 36% more expensive than NAB’s and over 66% more costly than ANZ’s.
Foolish takeaway
CBA is an excellent bank â that’s why investors value it so highly.
However, the high CBA share price means it’s much more expensive than its peers. The rise of the CBA share price has also pushed the current grossed-up dividend yield down to 5.3%.
Based on all of the above factors, it may be better to give CBA shares a miss until the forward P/E ratio becomes more attractive.
Should you invest $1,000 in Commonwealth Bank Of Australia right now?
Before you buy Commonwealth Bank Of Australia shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Commonwealth Bank Of Australia wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
When a business is trading at a cheap level compared to its earnings, or at a large discount to the underlying net asset value (NAV), it can push up the potential yield.
I believe the market is underestimating how much cash flow the below two businesses can generate and pay to shareholders. That’s why I’m calling them buys.
There is a lot of negative commentary about office buildings at the moment because of the COVID-19 effects of more people working from home, which seems to be a permanent shift.
According to Centuria, the worst areas of demand impact are the Melbourne and Sydney CBDs. However, areas seeing strong ‘net absorption’ of demand include the Melbourne fringe, Canberra, the Brisbane fringe, the Brisbane CBD, and Adelaide.
Centuria Office REIT says 92% of its portfolio is located outside of the Sydney and Melbourne CBD, so it’s actually a lot better positioned than the market seems to give it credit for.
At 31 March 2024, the ASX dividend stock’s portfolio occupancy was 94.3% and it had a “healthy” 4.4 year weighted average lease expiry (WALE). These are quite strong numbers in my opinion.
The business is expecting to pay a distribution per unit of 12 cents for FY24, which translates into a distribution yield of around 9.75%. I think that’s a high yield for a REIT and, to me, suggests it may be trading cheaply for how much rental profit it’s making.
The Centuria Office REIT share price is down around 50% since September 2021, as seen on the chart below.
Accent is a major shoe retailer in Australia. It is a local distributor for several global brands, including CAT, Dr Martens, Henleys, Herschel, Hoka, Kappa, Merrell, Skechers, Ugg, and Vans.
Pleasingly, the consumer stock is also growing its own portfolio of brands so it’s not as reliant on those international names. Some of its own brands include Glue Store, Platypus, Stylerunner and The Athlete’s Foot.
As the chart below shows, the Accent Group share price has dropped around 30% since April 2023, dramatically increasing the prospective dividend yield.
According to the estimates on CMC Markets, the ASX dividend stock is expected to pay an annual dividend per share of 11.5 cents in FY24 and 14.3 cents in FY26. This translates into forward grossed-up dividend yields of around 9% in FY24 and 11% in FY26.
It’s understandable why the Accent share price has fallen â the retail environment is uncertain amid high inflation and elevated interest rates. But, I believe the decline has gone too far.
I’m optimistic about Accent’s future because of an ongoing store rollout, long-term growth of digital sales, a growing portfolio of owned brands, and the potential for a recovery in household retail spending in the next couple of years.
Should you invest $1,000 in Accent Group Limited right now?
Before you buy Accent Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Accent Group Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Tristan Harrison has positions in Accent Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Analysts at UBS think that Centuria Industrial could be an ASX dividend stock to buy. It is Australia’s largest domestic pure play industrial property investment vehicle with a portfolio of 88 high-quality, fit-for-purpose industrial assets worth a collective $3.8 billion. The company notes that these assets are situated in key in-fill locations and close to key infrastructure.
The broker is expecting Centuria Industrial to be in a position to pay dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.22, this represents dividend yields of 5% in both years.
UBS currently has a buy rating and $3.71 price target on its shares.
Over at Goldman Sachs, its analysts think that this private health insurer could be an ASX dividend stock to buy.
It likes NIB due to its “defensive exposure to the private health insurance sector which is experiencing favourable operating trends.”
In respect to dividends, Goldman expects this to support fully franked dividends per share of 31 cents in FY 2024 and 30 cents in FY 2025. Based on the current NIB share price of $7.12, this would mean 4.35% and 4.2% yields, respectively.
Goldman currently has a buy rating and $8.10 price target on NIB’s shares.
A final ASX dividend stock that has been given the thumbs up by analysts is youth fashion retailer Universal Store.
Morgans is a big fan of the company. It notes that its “retail proposition and investment opportunity is undiminished” and that its “growth opportunities are in place.” This includes the acceleration of its Perfect Stranger expansion.
Morgans believes that the above leaves the company well placed to reward shareholders with fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on its current share price of $5.45, this will mean yields of 4.8% and 5.3%, respectively.
The broker currently has an add rating and $6.50 price target on its shares.
Should you invest $1,000 in Centuria Industrial Reit right now?
Before you buy Centuria Industrial Reit shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Centuria Industrial Reit wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended NIB Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The meteoric rise of generative AI stock Nvidia Corporation (NASDAQ: NVDA) has seen the US-listed company’s market cap surge to US$2.3 trillion (AU$3.4 trillion).
That’s more than Australia’s annual GDP!
And it’s drawn plenty of investor interest.
So, which two ASX 200 stocks look best placed for revenue and profit growth from this booming market?
Read on.
Two ASX 200 stocks for the AI revolution
The massive recent growth and even more massive future growth potential that AI presents for ASX 200 stocks hasn’t been lost on Jun Bei Liu, a lead portfolio manager at Tribeca Investment Partners.
“We believe AI will be a mega investment trend that permeates every part of human life via business and household adoption,” Liu says (courtesy of The Australian Financial Review).
But with stocks like Nvidia already up 197% in 12 months, could the sector be getting a bit frothy? And might that not impact ASX 200 stocks connected to the industry?
Not according to Liu.
“We strongly disagree with the notion that the performance and weight of AI-related tech stocks is a signal that we are in a bubble,” she says.
Liu explains that demand for Nvidia’s generative AI chips is “projected to double again in the next six years”.
Importantly for Aussie investors, she says this will only increase the already booming demand for data storage and data centres. Already growing at double-digit rates, data centre capacity requirements are forecast to grow at 15% annually through to 2030.
She adds that, “Australia, which is already a top five global data centre hub, is forecast to grow from 1 [gigawatt] GW today to more than 2.5GW during this time.”
As for which ASX 200 stocks are best positioned to make hay from this mega investment trend, Liu notes that there are numerous different opportunities to tap into this “broad investment theme”.
She says the opportunities for AI “are in chips â used to power the process; storage â needed to house the enormous amounts of data processed; energy â used to power the infrastructure; and software â used to execute computer processes”.
Drilling down to the domestic market, Liu says (courtesy of The AFR):
For Australian investors who wish to play this theme on the ASX, storage is probably the easiest and most relevant given we don’t manufacture chips, energy tends to be localised and software developers and creators tend to be global…
Key components of a successful data centre include access to the grid, security of energy, connectivity and proximity to clients. With limited access to usable land that provides such access and long-term contracts for energy security, it is the incumbent data centre players that will continue to drive future growth.
Which brings us to the two “best” ASX 200 stocks to buy now for the AI revolution: real estate investment trust (REIT) Goodman Group (ASX: GMG) and data centre operator NextDc Ltd (ASX: NXT).
According to Liu:
The best listed players that we believe directly participate in this megatrend here in Australia are NextDc and Goodman Group â both have a strong pipeline of future contracted development…
In the case of Goodman Group, not only does it directly tap into the global data centre trend, it also has the opportunity to change much of its future data centre pipeline into a direct operating model where returns can be multiple folds of current development earnings.
The Goodman share price is up 69% over the past 12 months.
ASX 200 stock NextDc’s shares are up 50% over this same period.
Should you invest $1,000 in Goodman Group right now?
Before you buy Goodman Group shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Goodman Group wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group and Nvidia. The Motley Fool Australia has recommended Goodman Group and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Rob Tringali/SportsChrome, Steven Hirsch-Pool via Getty Images
Billionaire Dan Snyder funded a biopic about Donald Trump, Variety reports.
"The Apprentice," a movie about Trump's early business years, premieres at Cannes on Monday.
Now Snyder is getting lawyers involved because the movie isn't positive about Trump, Variety reports.
Billionaire and Donald Trump supporter Dan Snyder helped pay for a Donald Trump movie but is now furious after realizing the film isn't actually flattering to Trump, according to a new report from Variety.
"The Apprentice," directed by Ali Abbasi, makes its world premiere at Cannes Film Festival on Monday. Starring Sebastian Stan as Trump and Jeremy Strong as Roy Cohn, the movie follows Trump's early years in business in the 1970s and 80s, according to IMDB.
Sources told Variety that Snyder — a major GOP donor and the former owner of the Washington Redskins — poured money into the new movie through a film company called Kinematics, thinking the biopic would be favorable to the former president.
But Snyder was livid at the film's depiction of Trump when saw a cut of the movie for the first time in February, sources told Variety.
Though little is known about the film and few have seen it ahead of its Cannes debut, Variety cited an insider who said the current cut features a scene in which Stan's Trump gets violent with his former wife, Ivana Trump.
Ivana Trump accused Trump of rape in a 1989 divorce filing but later walked back her accusation in 2015.
Following Snyder's viewing of the film, Kinematics lawyers launched an intense legal battle with the filmmakers to prevent its release, Variety reported.
However, Kinematics president Emanuel Nuñez told Variety that Snyder has not been involved in the creative differences over the film and that all "creative and business decisions" about the movie are "solely made by Kinematics."
Regardless, Kinematics doesn't have the power to halt the film's release because it doesn't own the copyright, Variety reported.
Representatives for Snyder, Kinematics, and Ali Abbasi didn't immediately respond to a request for comment from Business Insider.
Other investors in the movie include the governments of Canada, Ireland, and Denmark, according to Variety.
The Mars family — including Jacqueline Mars and her granddaughters, pictured here — is worth an estimated $117 billion as of February 2024, Forbes estimates.
Pool/Getty Images
The Mars family has a net worth of $117 billion and helms the candy empire Mars Inc.
That makes them America's second-richest family, according to a 2024 Forbes ranking.
They're known for keeping to themselves, but in recent years, they've taken more to the limelight.
They're the heirs to the candy throne that is Mars Inc., maker of Snickers, Mars Bars, Milky Way, Twix, M&M's, and more.
The century-old company has helped the Mars family build a reported fortune of $117 billion, making them America's second-richest family dynasty, according to Forbes' 2024 ranking of America's wealthiest clans.
Press-shy and limelight-avoidant, the Mars family remains a bit of a mystery. They've been known to keep the company "notoriously private," in the words of Business Insider's Cadie Thompson. And the company's headquarters have been called "anonymous" by former Guardian reporter Andrew Clark.
However, Mars Inc. has more recently started trying to shed its secretive history. During the last few years, the Mars family and company executives have started to foray more into the public eye.
Here's what we know about the Mars family and Mars Inc.
The Mars family's $117 billion fortune is rooted in its family-owned candy empire, Mars Inc.
The Mars candy empire includes brands like Snickers and M&M's.
Anadolu Agency/Getty Images
Founder Frank Mars had polio at a young age and so was unable to walk to school; while home, he learned from his mother, Elva, how to hand-dip chocolates and, in 1911, he began selling candy from his kitchen in Tacoma, Washington, according to Mars' website.
In 1902, Mars married schoolteacher Ethel G. Kissack. During the Depression, they became "social luminaries," boasting a $20,000 Deusenberg town car and two getaway homes in Wisconsin and Tennessee, according to a 2008 article in Washingtonian.
They also opened their Tennessee getaway home, the Milky Way Farms Racing Stables, to the public for fundraisers and public events. Ethel's horse won the Kentucky Derby in 1940, securing her "station in mint-julep society," Washingtonian reported.
Mars' son, Forrest Sr., joined the company in 1929.
Each day, more than 400 million M&M's are made in the US.
Tara Ziemba/Getty Images
They made the first chocolate nougat, setting the foundation for Milky Way Bars and Snickers. Forrest Sr. fell out with his father; in 1932, he was given the recipe for the Milky Way to start his own business, and he moved to England to do so.
Since then, the company has become known for the eponymous Mars Bar (at least in the UK) as well as 3 Musketeers, Twix, and M&Ms. More than 400 million M&Ms are produced in the US every day.
In 2008, Mars Inc. branched out from chocolate to gum when it acquired the Wrigley Jr. Company for $23 billion.
In 2023, a bombshell CBS News article reported that Mars was using cocoa beans harvested by children as young as 5 in Ghana in order to make its chocolate products.
A Mars company spokesperson told CBS in a statement at the time, "We condemn the use of child labor. Despite our requests, CBS did not provide specific details of their investigation to Mars ahead of time in order for us to investigate claims of misconduct at the time of this report. We treat any claim of misconduct in our supply chain very seriously and we will thoroughly investigate once we have the necessary information and take appropriate action."
Though the Mars name is most associated with candy, pet food is also a large part of the family business.
Pet food and petcare make up a lesser-known part of the Mars empire.
Shutterstock
Mars' prominent position in pet food began with the 1935 acquisition of a British dog food firm, Chappel Bros. The company bought Iams and two other pet food brands in 2014 from Procter & Gamble for close to $2.9 billion.
Today, Mars is a dominant force in both pet food and veterinary medicine, as the owner of major food brands Pedigree, Whiskas, and Royal Canin, and some of the biggest private American chains of veterinary hospitals, Banfield and VCA.
Unlike his parents, Forrest Sr. was relatively frugal. He raised his children the same way — while they attended exclusive boarding schools, they did chores at home to earn an allowance.
Forrest Mars Sr. bought a Virginia farm in the 1940s.
JMP_Traveler/Shutterstock
However, he did buy a 740-acre farm in Virginia in the 1940s, though he and his wife, Audrey, lived apart for a lot of their marriage (she kept a penthouse apartment at The Watergate), according to Washingtonian.
"He was an iconic leader — dedicated and highly respected," a Mars spokesperson previously told Business Insider.
When Forrest Sr. died in 1999, his children — Jacqueline, John, and Forrest Mars Jr. — inherited a stake in the company.
Jacqueline and John currently have the biggest share of the Mars fortune.
Ron Sachs – Pool via Getty Images
Currently, 84-year-old Jacqueline and 88-year-old John co-own — but don't actively manage — Mars Inc. They have the biggest share of the family fortune. Each has an estimated net worth of $46.5 billion, according to the Bloomberg Billionaires Index.
Forbes' 2024 list of the richest person in every state identified Jacqueline as the richest person in Virginia and John as the richest person in Wyoming.
Jacqueline is the only sibling with a lifestyle "close to reflecting her billionaire status," Washingtonian reported.
Jacqueline Mars is also a private person.
Leigh Vogel/Getty
Like her family, Jacqueline maintains her privacy.
But, even so, Washingtonian reported in 2008 that she reportedly listed her estate in New Jersey for $2 million and maintains her mother's Watergate penthouse. She also reportedly has a place called Stonehall Farm in Virginia, where she breeds horses. She initially had broodmares in Ireland before moving the operation to the farm in 2005.
In 2013, Jacqueline was involved in a car crash in Loudon County. She was driving her Porsche SUV "when her vehicle crossed the center line and hit an eastbound minivan," according to authorities, reported the Washington Post.
"According to authorities, Mars told a witness who went to the scene of the accident that she had fallen asleep while driving," wrote Caitlin Gibson of The Washington Post. "Tests revealed no trace of drugs, alcohol, or medications that could have caused a blackout … Witnesses said that Mars was not speeding or driving erratically before the accident."
The driver of the other car lost her unborn son, a passenger died, and other passengers were injured. The victims urged the court not to seek jail time for Jacqueline, who pleaded guilty. She was ordered to pay a $2,500 fine.
"I can't go back in time. I can't change what happened," Mars, who planned to help the family, said in a statement. "I will always live with the grief and loss caused by this tragedy."
Jacqueline and her ex-husband David Badger have three children. Their son, Stephen Badger, previously was chairman of Mars Inc.
Stephen Badger served as Mars Inc board chairman twice.
Hollis Johnson/Business Insider
Stephen Badger served twice as chairman of the Mars Inc board of directors, with his most recent rotation from 2017 to 2020.
"For most of our history, in fact … for 99% of our history, we've chosen not to be in the public eye and we've really wanted our brands to engage consumers. And yet times have changed," Badger said. "Consumers do want to know more about not only the brands that they're buying, but the company that is behind them."
Today, he's a partner at The March Group.
Not much is known about Jacqueline's brother John, but in March 2015, he was made an honorary knight by Queen Elizabeth II.
John Mars.
John Stillwell – WPA Pool/Getty Images
Both John and Forrest Jr. inherited their father's tendency to avoid the spotlight. And their father's frugal ways stuck with them: Both brothers reportedly lived in relatively affordable condos.
"When I was growing up it felt very normal," Forrest Jr.'s daughter, Pamela Mars, told Campden FB, which covers family businesses and family offices, in a since-deleted interview. "I didn't feel different to anybody else. We did chores around the house, we went to school. We didn't live a different lifestyle to any of my friends."
Forrest Mars Jr. died in 2016 at the age of 84, leaving his stake to be split among his four daughters: Victoria Mars, Marijke Mars, Valerie Mars, and Pamela Mars-Wright.
Victoria Mars.
Dmitry Astakhov/Getty Images
Each of his daughters has an estimated net worth of $11.6 billion, according to Bloomberg's Billionaires Index.
Victoria is a former chair of the board of directors of Mars Inc. A spokesperson for Mars previously told BI that there are six rotating positions on the board.
Growing up, Pamela lived in Holland and France for several years before moving back to the US for her father's various Mars Inc. jobs. After graduating from Vassar College and a stint working in advertising, Pamela joined the family business as an operations supervisor. She moved up the ranks, and after a sabbatical, became chairman of the board, a position from which she later stepped down.
Valerie and Marijke have both worked at Mars and served on the company's board of directors.
For years, the family was known for being "notoriously private," keeping their personal lives and Mars Inc. out of the public eye.
Mars headquarters not pictured.
Orlin Wagner/AP Photos
The company's secrecy dates back to when Forrest Sr. patented the method for Ben's Original rice and American military chiefs tried to overturn the patent to supply troops, but Forrest refused, and the war came to an end before he could be forced to share his patents, per Washingtonian.
Forrest Sr. avoided photographers and interviews alike, and the company and family more broadly "have turned secrecy into a way of life," the Washingtonian reported.
Morningstar food analyst Mitchell Howard called Mars a "very, very quiet company."
Nicknamed "the Kremlin," the Mars Inc. headquarters are based in the Virginia suburbs and have been described as "secretive" and "anonymous," according to a 2008 article in The Guardian.
The company has been criticized for not giving enough, especially as one of the largest private companies in the US. Mars Inc. says it makes anonymous contributions.
The Smithsonian National Museum of American History.
Mark Wilson/Getty Images
In 2012, they donated $5 million to the Smithsonian National Museum of American History for renovations and a new gallery bearing their name.
In 2012, Jacqueline Mars received the first-ever Foundation for the National Archives' "Heritage Award," for her support of the National Archives and other arts and cultural institutions in Washington, DC.
The US Equestrian Team Foundation, of which she is an honorary life trustee, also gives Jacqueline B. Mars National Competition and Training Grant awards each year. These grants "provide training and competition resources for U.S. athletes who have never competed on an Eventing Olympics or FEI World Championships Team and have earned, via results and potential, the opportunity to travel to another part of the country to compete," according to the foundation.
Jacqueline also played a role merging the Opera with John F. Kennedy Center for the Performing Arts and made a multi-year commitment to support the Washington Performing Arts' programs.
"The family has always believed that the biggest contribution toward the world we want tomorrow is through the good that Mars, Inc. can do every day, and the family reinvests the vast majority of any profit made back into the company," a company spokesperson previously told BI.
In 2017, the company made a $1 billion investment in a sustainability program that will contribute to the UN's Sustainable Development Goals and the Paris Climate Agreement. It also donated $26 million in pandemic relief to communities most affected by the crisis.
The Mars Wrigley Foundation supports educational and health-related causes by "providing oral health education and care, improving lives in mint and cocoa-growing regions, and creating resilient and vibrant communities," according to its website.
While the Mars family has remained private over the years, it's helped them keep their anonymity, Joseph Astrachan, an expert in family enterprises, told The Guardian.
The Mars Snacking office.
Mars Snacking
But one thing will always remain private: the company itself.
"The philosophy of the family and the philosophy of the business is that it's a family business," Pamela Mars previously told Campden FB. "More importantly, it's a privately held business and that's the way that we'd like to keep it."
Jamie Dimon has been the CEO of JPMorgan since 2006.
Under his leadership, the company's stock value has tripled.
Here's a look at the decades of work that made Dimon one of the most iconic names in finance.
Jamie Dimon, the billionaire CEO of JPMorgan Chase, has led the massive finance company for the better part of the last two decades, driving its assets and stock value to new heights.
"In the midst of the most serious and far-reaching financial crisis since the 1930s — much of it caused by plain old avarice and bad judgment — Dimon and JPMorgan Chase stood apart," Duff McDonald, an author and journalist, wrote of Dimon in his 2009 book "Last Man Standing: The Ascent of Jamie Dimon and JPMorgan Chase," referring to the 2008 financial crisis.
"Much of the melodramatic coverage of Wall Street postcrisis has focused on its flaws — the hubris and the greed," McDonald wrote. "Jamie Dimon's story contains the opposites — the values of clarity, consistency, integrity, and courage. By sticking to them, Dimon has unquestionably become the dominant banking executive of his era."
Here's a look at Dimon's career, from his stint as a management consultant to becoming the billionaire financier propelling JPMorgan Chase's rise.
Representatives for Dimon declined to comment for this story when contacted by Business Insider.
Born into the world of finance
Dimon was born in New York City on March 13, 1956, one of three sons to Theodore and Themis (née Kalos) Dimon. His father was a stockbroker at Shearson who would eventually become an executive vice president at American Express.
After her sons went to college, Themis Dimon pursued a master's degree in psychology at Columbia University's Teachers College and volunteered at a preschool program.
The couple, who were married for 65 years, died within 22 hours of each other, according to their 2016 obituaries.
Dimon graduated from Tufts University, where he majored in psychology and economics. After a stint as a management consultant at Boston Consulting Group, Dimon earned his MBA from Harvard in 1982.
A banking whiz kid from the start
Dimon's finance skills were clear from early on. At the behest of his mentor, the financier Sandy Weill, he turned down offers from Goldman Sachs and Morgan Stanley to accept a job at American Express after graduating from Harvard.
Weill asked Dimon to resign in 1998 after 15 years of working together. Weill would later tell The New York Times it was because Dimon wanted to take over as CEO but he wasn't ready to retire. Weill told the Times he regretted that the conflict led to Dimon's ouster.
On an episode of the "Coffee with The Greats" podcast, Dimon said he was "totally surprised" by hisfiring from Citigroup. He considered jobs at Amazon and Home Depot but ultimately became CEO of Bank One in 2000, which at the time was the nation's fifth-largest bank. Eventually, it would merge with JPMorgan.
JPMorgan's merger with Bank One saw Dimon's power surge
When JPMorgan merged with Bank One in 2004, Dimon became the new banking giant's president and chief operating officer. He would later become the bank's CEO in 2006.
Dimon quickly slashed expenses across the board, McDonald wrote in his biography. He ended the practice of the bank's corporate wing paying for clients to attend the US Open tennis tournament, canceled a $5 billion contract with IBM for computer-management services, and cut regional managers' compensation by as much as 50% over the next two years.
"He's going down like cod liver oil," Bloomberg reported one banker said of Dimon's approach.
McDonald wrote in his biography of Dimon that another unnamed banker said, "The news that Jamie is flying in is similar to being told that Ivan the Terrible is coming for tea."
Dimon at the Nikkei Global Management Forum in Tokyo.
TOSHIFUMI KITAMURA va Getty Images
His demanding leadership has proven valuable over the years
In 2008, Dimon played a key role in rescuing major banks from collapse amid the financial crisis. JPMorgan purchased Bear Stearns for $10 a share and also acquired Washington Mutual, which at the time was the largest US savings and loan institution, The New York Times reported.
"Jamie was demanding. He was relentless," Theresa Sweeney, his assistant from 1993 to 2000, is quoted as saying in McDonald's biography. "And he always wanted the one thing I hadn't done. I'd walk in there with my pad of paper and he'd give me 10 things to do. I'd go back to my desk. An hour later, he'd call me and I'd have already done nine of them. And he'd ask for the tenth. And he pounded and pounded and pounded until you got it done. By the third time he asked for something, you better have been at a funeral, because that was the only acceptable excuse for not having it finished."
Under his leadership, and due largely to its strategic partnerships and acquisitions, JPMorgan's value has skyrocketed, becoming the leading American bank in terms of domestic assets, market capitalization, and stock value.
College sweethearts became parents to 3 girls
Dimon married his college sweetheart, Judith Kent, after meeting at Harvard. They have three daughters together: Julia, Laura, and Kara Leigh.
Kent went to Tulane University for her undergraduate degree before receiving a master's in organization psychology from the Catholic University of America and an MBA from Harvard. She worked alongside Dimon at American Express as a management trainee shortly before they married, a 1983 wedding announcement published in The New York Times said.
Dimon has had a few health scares over the years, including a battle with throat cancer in 2014 and emergency heart surgery in 2020 after he was diagnosed with an aortic tear, The Wall Street Journal reported.
Jamie Dimon (R), chairman and CEO of JP Morgan Chase & Co. and his wife Judith Dimon arrive at the White House for a state dinner 19, 2011 in Washington, DC
Brendan Smialowski
A longtime political donor, Dimon has considered a run for office himself
For many years, Dimon was a prominent donor to the Democratic Party. Though he labeled himself as "barely a Democrat" in 2012, his political ties to the Obama administration led to speculation he would be named secretary of the Treasury. The position was ultimately given to Timothy Geithner.
In 2016, he joined a business-advisory forum assembled by then-President Donald Trump, though it disbanded roughly a year later. Dimon supported several of Trump's jobs and tax policies but publicly disagreed with him on matters of immigration and international trade.
He briefly considered running for president in 2018. Though he ultimately decided against it, MarketWatch reported that he said, "I thought about thinking about it."
The billionaire hedge-fund manager Bill Ackman encouraged Dimon to consider a presidential bid in 2023, Forbes reported. The outlet also said Dimon expected to lead JPMorgan for at least 3 ½ more years.
Though he hasn't made any moves toward a campaign for public office, Dimon told Bloomberg last spring, "I love my country, and maybe one day I'll serve my country in one capacity or another."
Dimon's continued bank-saving has led to record JPMorgan profits
Dimon reprised his role as bank-saver in 2023, The New York Times reported, working as a partner with Treasury Secretary Janet Yellen and the Fed chair Jerome Powell to convince leaders of 11 major banks to pitch in $30 billion to prevent First Republic Bank from collapsing in the wake of Silicon Valley Bank and Signature Bank failing in rapid succession.
In doing so, Dimon was "acting as a senior statesperson who is helping to shore up the financial industry in a time of crisis of confidence," Mike Mayo, a longtime banking analyst, said to the Times. "With that comes potentially higher prestige but also potential backlash."
But so far, the backlash hasn't come.
Per Fortune, JPMorgan's stock value has tripled since Dimon became CEO, and Bloomberg reported that in 2023, the bank recorded the largest-ever annual profit among US banks, pulling in nearly $50 billion.
While in the past Dimon joked he would retire in five years, when asked about his succession plan this time the 68-year-old said the timeline was "not five years anymore."
The longest-running CEO on Wall Street also said the plan to identify his replacement was "well on its way," and that he could potentially stay on as chair.
Note: This story was originally published April 2024 and has since been updated.
Correction: April 9, 2024 — An earlier version of this story misstated the name of the bank JPMorgan merged with in 2004. It's Bank One, not One Bank.
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There are a variety of cheap cell phone plans that may be worth your while.
Eve Montie/Business Insider
The best cheap cell phone plans offer all of the following criteria without compromise — dependable coverage, fast service speeds, and as much data as you need at affordable prices. Usually, affordable plans come from mobile virtual network operators (or MVNOs) and standalone budget-friendly carriers, and choosing the plan for you will come down to your budget and priorities.
Among the best cheap cell phone plans, it's hard to beat our top pick, US Mobile's Unlimited Starter plan with 35GB of data on either Verizon's or T-Mobile's networks starting at $29/month for a single line, or $23/month with an annual payment. If you want to extend your savings further, we recommend Tello Mobile's Build Your Own plan, which can cost as low as $5/month.
Our top picks for the best cheap phone plans
Best overall: US Mobile (Unlimited Starter plan) – See at US Mobile
Best overall alternative: Mint Mobile (Any 3-month plan) – See at Mint Mobile
Best true budget plan: Tello Mobile (Build Your Own plan) – See at Tello
Best unlimited plan: Visible Wireless (Visible+ plan) – See at Visible
Best international plan: US Mobile (Unlimited Premium plan) – See at US Mobile
Best overall
US Mobile's Unlimited Starter plan for $29/month is the gold standard in MVNO and budget-friendly plans. It easily meets and exceeds expectations as a value-forward plan with superior and unique features that directly benefit you, the customer.
Like many budget-friendly carriers, US Mobile operates on a major carrier's network. In this regard, US Mobile is unique. Where you typically only have access to one major carrier's network, US Mobile offers the choice between Verizon's or T-Mobile's full network, including their fast high-band 5G networks. You can even switch networks as often as twice a month, so you can try which works best for you for everyday use, whether for coverage or data speeds or for a particular scenario, like traveling.
US Mobile's Unlimited Starter plan stands alone in offering 35GB of prioritized monthly data for a low price.
Antonio Villas-Boas/Business Insider
Worthy of note, US Mobile's names for Verizon's and T-Mobile's networks are "Warp" and "GSM," respectively. Only the Warp network comes with premium prioritized data, whereas the GSM network includes deprioritized data. However, we can't say we've felt much of an impact from deprioritization in our testing of the GSM or T-Mobile's network, nor can we really tell, as there's no indication or notification specifying as much.
Whichever network you pick, US Mobile's Unlimited Starter plan price stays the same even if you switch.
The Unlimited Starter plan's 35GB of high-speed data should be more than enough for the vast majority of users. If you do end up using more than 35GB, US Mobile reduces your data speeds to 1Mbps until the end of the billing cycle, which is significantly faster and more usable than the reduced speeds on other carriers that vary between dubiously slow 40 and 256Kbps speeds.
To be sure, some carriers like Visible don't reduce speeds at all, no matter how much data you use. Instead, they offer deprioritized data that can potentially slow down without warning when the host network is experiencing congestion. That's a great proposition, but we feel the option to pick which host network works for you, as well as other benefits listed here, are more valuable.
US Mobile offers multi-line discounts, which is also unique among budget-friendly carriers and ideal for families or groups.
You get even more value with the annual payment option, which reduces US Mobile's Unlimited Starter monthly price to $23/month ($276 for the year). And to top it all off, taxes and fees are included, so the price you see advertised is the price you pay.
Mint Mobile's prepaid plans for three, six, or 12 months offer affordable options and easy plan management, like adjusting data allotments per line at any time.
Your best point of entry into the Mint Mobile landscape is its current, limited-time new customer promotion, which sets each of its three-month prepaid plans at just $15/month. This means you can get anywhere from 5GB, 15GB, 20GB, or "unlimited" monthly data for the same low, entry-level price.
Unlike the Verizon-backed premium data of US Mobile's Unlimited Starter plan, Mint Mobile's "unlimited" plan includes 40GB of high-speed data, subject to deprioritization in congested areas, with slower speeds once you've hit that cap.
Mint Mobile is an exceptional budget carrier across the board, and its three-month plans are a stellar deal for new customers.
Eve Montie/Business Insider
However, after your promotional three months are up, any of Mint's 12-month plans will provide the most savings, as the monthly price and data remain the same as the three-month plans. All are great deals; in particular, the 5GB ($15/month) and 15GB ($20/month) plans are well-priced considering the competition.
The overall customer experience makes Mint Mobile stand out from the competition. Its user-friendly setup and app experience, readily accessible support and FAQs, and easy-to-understand language, in addition to its price point, make it an easy recommendation.
Consider your data usage patterns before signing up, but with Mint's excellent app or website, you can change your plan at any time with no added cost.
The varied plans from Tello Mobile are the cheapest options we can recommend, and they offer the most customization.
With Tello's Build Your Own plan, in particular, you can adjust the minutes and data allotment for each line on your account, making it a great choice to cover the basics for kids, grandparents, students, or anyone who uses a minimum amount of data or is simply on a budget.
Tello's Build Your Own plan could be your most affordable option, depending on how you structure it.
Eve Montie/Business Insider
As you build your plan, you choose your monthly data amount (from no data to 1GB, 2GB, 5GB, 10GB, 15GB, or unlimited) and your monthly minutes (none, 100, 300, 500, or unlimited), the combination of which adds up to $5/month at the cheapest and $25/month at the most expensive.
The Build Your Own plan is particularly enticing if you want to specify a data allotment on a per-line basis — for example, setting data limits for a kid who just got their first phone while allowing them unlimited minutes.
For truly unlimited data and extensive coverage, Verizon's budget-friendly carrier, Visible Wireless, has an excellent option with its Visible+ plan at $45/month.
While the Visible+ plan has the highest price point of all the MVNOs we've included in this list, it provides by far the most high-speed monthly data and the closest approximation to "unlimited." It guarantees 50GB of premium prioritized data while your phone is connected to Verizon's basic 5G and LTE networks before you experience any form of data speed deprioritization. The Visible+ plan also offers unlimited premium prioritized data while your phone is connected to Verizon's fast high-band 5G "Ultra Wideband" network.
The Visible+ plan on Visible Wireless is your best bet for an affordable "unlimited" experience.
Eve Montie/Business Insider
By offering deprioritized data after using up to 50GB of data, you shouldn't notice a difference in data speeds or usability unless you're in an area experiencing heavy network traffic at the specific time you're using your phone. Even if your data is actively being deprioritized, you may not even notice.
For those who use a lot of data and call for a truly unlimited plan, that's an enticing proposition, as some MVNOs and budget-friendly carriers dramatically reduce speeds to frankly unusable speeds until the next billing cycle if you exceed your plan's allotted data.
The Visible+ plan also provides extended coverage with 5G "Ultra Wideband" areas, though Verizon's standard coverage (and the Visible base plan's coverage) is already very good. Before signing up, check Visible's coverage map to ensure you're covered.
Visible recently updated its plans with an annual payment option (versus the standard monthly payment option) that reduces the Visible+ plan's price from $45/month to $33/month (totaling $395/year), which is incredible value and should be considered if making an annual payment is an option.
It's surprising that so many budget-oriented carriers and plans have any international features at all, and some have pretty decent ones, too. However, none have anything quite as comprehensive as US Mobile's Unlimited Premium plan. Just make sure to pick or switch to US Mobile's "GSM" network before you set off, as the "Warp" network doesn't include nearly as many international features.
With US Mobile's Unlimited Premium plan, you get unlimited calling and texting from the US to over 200 countries. If you're traveling abroad to one of the 180 supported countries, you get 5GB or 10GB of data and 500 or 1,000 minutes and texts, depending on the country. (Unfortunately, US Mobile doesn't make it abundantly clear which countries support how much data or how many minutes and texts.)
International features abound with the Unlimited Premium plan on US Mobile's T-Mobile-backed network, GSM.
Antonio Villas-Boas/Business Insider
If the premium price tag is out of reach, US Mobile's Unlimited Starter plan has similar international features with reduced minutes, texts, and data that might still be enough for your needs — 1GB of data and 150 minutes/texts.
No doubt, at $50/month, US Mobile's Unlimited Premium plan is on the pricier side when thinking about "cheap" cell phone plans, but keep in mind that US Mobile offers an annual payment option that reduces the price to $37.50/month (totaling $450/year).
Alternatively, if you don't need as much domestic data as the Unlimited Premium plan offers in a typical month, you can sign up for US Mobile's Unlimited Starter plan on a monthly basis, so you pay less when you're at home and only upgrade to the Unlimited Premium plan for the month(s) you're traveling.
We thoroughly review each plan we include in our guides.
Eve Montie/Business Insider
In our testing, we spend at least a week with a specific plan from a phone carrier, often longer, and primarily assess the quality of the plan and carrier by the following criteria:
Plan offerings and flexibility: We consider the pricing and features included in a carrier's range of plans and assess its flexibility in allowing you to switch out of or between plans.
Coverage area: For MVNOs, we note the approximate coverage area provided by the network or networks backing a budget carrier and evaluate whether particular locations consistently match their purported coverage type (e.g., 5G or 4G/LTE).
Service reliability and speeds: In consistent testing locations, we assess the reliability of phone and video calls, note how fast videos and apps load over cellular data, and, with MVNOs, mark any apparent effects of deprioritization on service speeds.
Customer support: We make a holistic assessment of a carrier's customer support system and online (or in-person) user experience for setup, use, and troubleshooting.
We also take into account secondary considerations such as ongoing discounts and any other notable perks or outstanding features.
What to look for in a cheap cell phone plan
A cheap cell phone plan should suit your budget without compromising on coverage.
Eve Montie/Business Insider
If you aren't in the market for the best cell phone plans from major carriers, you have no shortage of options for spending less on a phone plan, as affordable carriers have proliferated in recent years.
The best cheap cell phone plan for you will primarily reflect your needs for monthly data and minutes, the constraints of your budget, and the coverage of your local area by the network or networks backing a particular plan.
We set a few baseline criteria in choosing plans for this guide, in that all the plans listed above cost no more than $50/month and, as with most MVNO plans, do not require a contract.
Before signing up for a service, take a granular look at the coverage map that an MVNO should make readily accessible on their website — marking the US network range of its backing carrier — and appraise the coverage of your location to ensure dependable service.
Best overall
Mint Mobile is our favorite budget carrier across the board, and its three-month plans are a stellar deal for new customers.
Eve Montie/Business Insider
Mint Mobile's prepaid plans for three, six, or 12 months offer affordable options for customers to easily manage all lines on their plan in one place and adjust their data allotments at any time.
Your best point of entry into the Mint Mobile landscape is its current new customer promotion that sets its three-month plans at the following reduced rates: $15/month for 5GB, $20/month for 15GB, $25/month for 20GB, and $30/month for "unlimited" data, which includes 40GB of high-speed data (subject to deprioritization in congested areas), with slower speeds once you've hit that cap.
The overall experience as a customer is what makes Mint Mobile stand out among the competition. Its user-friendly setup and app experience, readily accessible support and FAQs, and easy-to-understand language make it an easy recommendation in addition to the price point.
However, after your promotional three months are up, any of Mint's 12-month plans will provide the most savings, as the monthly price and data remain the same as the three-month plans. All are great deals; in particular, the 5GB ($15/month) and 15GB ($20/month) plans are well-priced considering the competition.
Consider your data usage patterns before signing up, but know that you can change your plan at any time with no added cost with Mint's excellent app or website.
Tello's Build Your Own plan could be your most affordable option, depending on how you structure it.
Eve Montie/Business Insider
The varied plans from Tello Mobile are the cheapest options we can recommend, and they offer the most customization.
With Tello's Build Your Own plan, in particular, you can adjust the minutes and data allotment for each line on your account, making it a great choice to cover the basics for a teen, grandparent, student, or anyone who uses a minimum amount of data or is simply on a budget.
As you build your plan, you choose your monthly data amount (from no data to 500MB, 1GB, 2GB, 5GB, 10GB, or unlimited) and your monthly minutes (none, 100, 300, 500, or unlimited), the combination of which adds up to $5/month at the cheapest and $29/month at the most expensive.
The Build Your Own plan is particularly nice if you want to specify a data allotment per line — for example, setting data limits for a teen who just got their first phone while allowing them unlimited minutes.
The Visible+ plan on Visible Wireless is your best bet for an affordable "unlimited" experience.
Eve Montie/Business Insider
For high-speed data and extensive coverage, Verizon has your back with Visible Wireless. Our top pick for a budget unlimited plan is Visible's upgraded Visible+ plan, available (until February 14) at a promotional rate of $35/month for up to two years — a $10 monthly discount from its typical $45/month rate.
While the Visible+ plan has the highest price point of all the MVNOs we've included in this list, even with its current promotion, it also provides by far the most high-speed monthly data and the closest approximation to "unlimited" data, as it guarantees 50GB of high-speed data before you experience any form of deprioritization.
Most of the nominally "unlimited" plans from MVNOs — including Visible's base unlimited plan ($25/month) — offer data subject to deprioritization at any time behind the higher-paying customers of the MVNO's backing network. If you're in an area with a lot of network congestion, you could encounter deprioritized speeds at any time on such an "unlimited" plan, but you won't see any deprioritization within your monthly allotment of 50GB of high-speed data on the Visible+ plan.
The Visible+ plan also provides extended coverage with 5G "Ultra Wideband" areas, though Verizon's standard coverage (and the Visible base plan's coverage) is already very good. Before signing up, check Visible's coverage map to ensure you're covered.
Google Fi Wireless' Flexible plan offers the best international options on a budget.
Eve Montie/Business Insider
Google Fi Wireless has three plans at different pay tiers, each offering access to coverage provided by T-Mobile and basic benefits like VPN usage and select smartwatch compatibility.
The low-tier Flexible plan allows for pay-what-you-use monthly data at $10/GB plus a base monthly rate of $20 per phone line. That's expensive compared to other MNVOs on this list, and Google Fi doesn't come especially recommended if you don't need international features.
If you need international features, though, Google Fi's Flexible plan includes international roaming for the same price as domestic data usage at $10/GB, so you won't have to worry about being charged an exorbitant price while using your phone internationally. Even if you use more data while you're away, a feature called Bill Protection, unique to the Flexible plan, caps your monthly cost at $80 for a single line to prevent excessive fees from overages.
Google Fi also offers free texting from the US to over 200 destinations and while traveling internationally.
Given that you have a "Designed for Fi" device (like a Google Pixel phone or a range of other Android phones featured in their list of compatible devices), you might be a great match for Google Fi, particularly if you frequently travel overseas.
We thoroughly review each plan we include in our guides.
Eve Montie/Business Insider
In our testing, we spend at least a week with a specific plan from a phone carrier, often longer, and primarily assess the quality of the plan and carrier by the following criteria:
Plan offerings and flexibility: We consider the pricing and features included in a carrier's range of plans and assess its flexibility in allowing you to switch out of or between plans.
Coverage area: For MVNOs, we note the approximate coverage area provided by the network or networks backing a budget carrier and evaluate whether particular locations consistently match their purported coverage type (e.g., 5G or 4G/LTE).
Service reliability and speeds: In consistent testing locations, we assess the reliability of phone and video calls, note how fast videos and apps load over cellular data, and, with MVNOs, mark any apparent effects of deprioritization on service speeds.
Customer support: We make a holistic assessment of a carrier's customer support system and online (or in-person) user experience for setup, use, and troubleshooting.
We also take into account secondary considerations such as ongoing discounts and any other notable perks or outstanding features.
What to look for in a cheap cell phone plan
A cheap cell phone plan should suit your budget without compromising on coverage.
Eve Montie/Business Insider
If you aren't in the market for the best cell phone plans from major carriers, you have no shortage of options for spending less monthly on a phone plan, as affordable carriers have proliferated in recent years.
The best cheap cell phone plan for you will primarily reflect your needs for monthly data and minutes, the constraints of your budget, and the coverage of your local area by the network or networks backing a particular plan.
We set a few baseline criteria in choosing plans for this guide, in that all the plans listed above cost less than $50/month and, as with most MVNO plans, do not require a contract.
Before signing up for a service, take a granular look at the coverage map that an MVNO should make readily accessible on their website — marking the US network range of its backing carrier — and appraise the coverage of your location to ensure dependable service.
