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Money For the Rest of Us

A personal finance and investing podcast on money, how it works, how to invest it and how to live without worrying about it. J. David Stein is a former Chief Investment Strategist and money manager. For close to two decades, he has been teaching individuals and institutions how to invest and handle their finances in ways that are simple to understand. More info at moneyfortherestofus.com

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Investing Won't Make You Rich

#119 The primary role of investing is to preserve your wealth not grow it. How then do we grow our wealth?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

26mins

10 Aug 2016

Rank #1

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How To Become Wealthy

The three-step plan for becoming financially wealthy and how to be wealthy without the money.In this episode you’ll learn:The results of two recent surveys on wealth, investing and retirement planning.How much money do people believe they need to consider themselves wealthy.How is wealth distributed across the U.S. population and how wealthy are Americans?Why you need a simple financial plan.What are the three steps to becoming financially wealthy.How to live like you are already wealthy.Thanks to WIX and Sleep Number for sponsoring the episode.For show notes and more information on this episode click here.[0:16] Schwab and Stash survey results.[2:49] Saving vs. living paycheck to paycheck.[4:29] How much does one need to be considered wealthy?[7:44] The value of social security.[9:23] The historical distribution of the country’s overall wealth.[11:33] The importance of having a plan.[13:38] Step One: increase your income.[15:10] Step Two: increase your savings percentage.[16:44] Step Three: increase your investment returns.[23:57] It’s not about optimization. It’s about diversifying and learning.[25:20] How to live like you are wealthy today.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

27mins

15 May 2019

Rank #2

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10 Questions To Master Successful Investing

What are the timeless principles we can follow in order to become better investors. Topics covered in this episode include:How a book's permanence makes it different from a podcast.How David's book got written and published and why his publisher just recalled the hardcover version of the book.What are the 10 questions we should answer before we invest in anything.Thanks to NetSuite and The Great Courses Plus for sponsoring the episode.For show notes and more information on this episode click here.[0:20] How David decided to write a book.[3:00?] The right book can change your life.[4:20] The art of writing a book.[7:00] The extensive process of writing a book.[9:57] Recording the audiobook.[11:32] Question 1: What is it?[13:36] Question 2: Is it investing, speculating, or gambling?[14:32] Question 3: What is the upside?[15:54] Question 4: What is the downside?[16:42] Question 5: Who is on the other side of the trade?[18:06] Question 6: What is the investment vehicle?[18:58] Question 7: What does it take to be successful?[20:20] Question 8: Who is getting a cut?[21:03] Question 9: How does it impact your portfolio?[22:05] Question 10: Should you invest?[23:06] What happened to the book launchSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

26mins

23 Oct 2019

Rank #3

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Where Should You Invest Your Cash Savings?

#220 How to evaluate cash savings options at banks, credit unions and brokerage firms. Why are yields on cash savings so much higher than a few years ago. How to tell if your bank or credit union is in experiencing financial difficulties. Thank you to Blinkist for sponsoring this week's episode.For show notes and more information on this episode click here.[0:10] All about banks, credit unions, and the pros and cons of cash savings[4:47] How can banks and credit unions become financially unstable?[14:25] The Federal Reserve is setting a new short term interest rate target[15:55] What tools does the Federal Reserve have to keep short-term interest rates in line with its target?[19:20] There are other options for investing your cash savings[25:49] Is it really worth pursuing multiple investing options for your cash savings?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

27mins

5 Sep 2018

Rank #4

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Was Tulipmania Just Like Bitcoin?

#182 What caused tulip mania in the 17th century in the Netherlands and how is it similar to Bitcoin?See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

28mins

22 Nov 2017

Rank #5

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Why You Should Care About the Economy

#6 Most people don't understand what the economy is, how it grows and what causes recessions. Nor do they care. This episode describes in simple terms how the economy works and why you should care so you can influence the quality of economic growth and its impact on the Earth's limited resources. Show notes at https://moneyfortherestofus.com/mny006-care-about-economy/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

24mins

30 May 2014

Rank #6

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Is There Too Much Savings?

#128 How holding onto goods longer before replacing them and a global savings glut impact the economy, interest rates and stock returns.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

27mins

12 Oct 2016

Rank #7

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How To Get Financially Unstuck

#115 Why we can't not invest due to fear and uncertainty. Plus how to tell if the stock market is overvalued and what to do about it. To get the U.S. stock market valuation charts, text the word "charts" to 44222See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

31mins

13 Jul 2016

Rank #8

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It's Just Money

#134 Why we should be indifferent toward money and what are the risks of a dollar shortage.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

25mins

23 Nov 2016

Rank #9

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How To Be A Minimalist Investor

#111 How to be a minimalist both in life and investing. To get the Portfolio Charts summary sheet, text the word PORTFOLIOS to 44222. Show notes at http://moneyfortherestofus.net/mny111-minimalist-investor/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

27mins

8 Jun 2016

Rank #10

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Do You Have Enough To Retire?

#149 How to estimate how long your assets will last in retirement and the steps you can take to take make them last longer.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

30mins

15 Mar 2017

Rank #11

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Four Investment Lessons From Warren Buffett

#194 Four investment lessons from Berkshire Hathaway's fiscal year 2017 Shareholder Letter with additional insights from Howard Marks and Seth Klarman. More information, including show notes, can be found here.Episode SummaryEvery year, Berkshire Hathaway releases a letter written for their shareholders filled with information on their performance, portfolios, and investments. On this episode of Money For the Rest of Us, David digs into the 2017 letter and discusses four investment lessons Warren Buffet shares. It’s filled with great insights that any independent investor shouldn’t miss, so be sure to check out this informative episode.Investment Lesson #1 – Use debt prudentlyBuffett writes in this letter, “Investing is an activity in which consumption today is foregone in an attempt to allow greater consumption at a later date. ‘Risk’ is the possibility that this objective won’t be attained.” On this episode of Money For the Rest of Us, David encourages his listeners to utilize debt in such a way that maximizes future opportunities while also managing the risk that comes with taking on debt. He discusses the idea of “float” money, how one investor could have avoided losing half of his portfolio, how to manage margin calls, and why you have to be confident in your decisions as an independent investor.Investment Lesson #2 – Keep your eyes open and focus on a few fundamentalsIt takes patience, but independent investors can focus on the leading edge of the present and invest in ways that major corporations may not be able to do. One must simply be aware of the opportunities that are occurring right now as well as focus on a few fundamentals: valuations, economic trends, portfolio drivers, asset classes, etc. David quotes Buffet on this episode and explains that “Though markets are generally rational, they occasionally do crazy things. Seizing the opportunities then offered does not require great intelligence, a degree in economics or a familiarity with Wall Street jargon such as alpha and beta. What investors then need instead is an ability to both disregard mob fears or enthusiasms and to focus on a few simple fundamentals. A willingness to look unimaginative for a sustained period – or even to look foolish – is also essential.”Investment Lesson #3 – Stick with easy decisions and avoid excessive tradingUnfortunately, trying to outsmart the market can lead to short-term gains but longer-term mediocrity in investing. David outlines a bet that Warren Buffett made with Protégé Partners and how Buffett learned that sticking with the big, easy decisions often pays off more than getting caught up in the minutia of constantly buying and selling. By making infrequent, larger decisions an independent investor can make better progress in their portfolio.Investment Lesson #4 – Be willing to be early and look foolishInvesting is never a guaranteed game. All investors have a fear of looking foolish after making a decision, but Buffett explains that “A willingness to look unimaginative for a sustained period – or even to look foolish – is essential.” David talks about the importance of gaining experience, not becoming caught up in the crowd mentality, and understanding that the “dust never settles” when it comes to finances. There will always be risks to take, and timing can be unpredictable. But with considerable risk comes comfortable reward. For more great information on the 2017 Berkshire Hathaway Shareholder Letter, be sure to listen to this episode of Money For the Rest of Us.Episode Chronology[0:46] David introduces the topic for this episode, Four Investment Lessons from Warren Buffett[2:15] Lesson #1 – Use debt prudently[12:46] Lesson #2 – Keep your eyes open and focus on a few fundamentals[17:17] Lesson #3 – Stick with easy decisions and avoid excessive trading[24:00] Lesson #4 – Be willing to be early and look foolishSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

33mins

28 Feb 2018

Rank #12

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Please Save More

#83 Why individuals need to save more for retirement and how to figure out how much more you should save. Show notes at: http://moneyfortherestofus.net/mny083-please-save/ To sign up for the Money For the Rest of Us Insider's Guide text the word INSIDER to 44222.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

29mins

18 Nov 2015

Rank #13

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How Worried Should You Be About the National Debt?

#106 Why some nations are at risk of default on their national debt and others are not. Plus why the U.S. national debt will never be repaid. Show notes at http://moneyfortherestofus.net/mny106-national-debt/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

33mins

4 May 2016

Rank #14

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Why Do We Work So Much?

How to structure employment so workers are more creative, productive, and happier.Topics include:What percentage of employees work at home due to the pandemicHow many hours per week do men and women work in both paid employment and unpaid caregivingHow workers have been allocating the time saved by not commutingWhy the economy would still prosper if we worked only four hours per dayWhat is the cult of efficiencyWhat is the difference between leisure and amusementWhy employers reward busyness at workHow work can be more satisfying and createThanks to LinkedIn and Policygenius for sponsoring the episode.For more information on this episode click here.Show Notes60 million fewer commuting hours per day: How Americans use time saved by working from home by Jose Maria Barrero, Nick Bloom and Steven J. DavisMental health: C-suite struggles in the pandemic by Rachel Ranosa—Human Resources DirectorDeep Work (Rules for Focused Success in a Distracted World) by Cal NewportIn Praise of Idleness by Bertrand Russell—Harper's MagazineDo Nothing: How to Break Away from Overworking, Overdoing, and Underliving by Celeste HeadleeAristotle's Nicomachean Ethics by Aristotle translated by Robert C. Bartlett and Susan D. CollinsRest: Why You Get More Done When You Work Less by Alex Soojung-Kim PangThe Art of the Siesta by Thierry PaquotWhen More Is Not Better: Overcoming America's Obsession with Economic Efficiency by Roger L. MartinRelated Episodes107: Work, Freedom and Leaving A Legacy184: Massive Job Losses Are Inevitable But There Will Still Be Work323: The Economy Is Not A MachineSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

23mins

10 Feb 2021

Rank #15

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Is The Economy Really Doing That Poorly?

#125 How to thrive in an ever changing, increasingly complex economy.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

28mins

21 Sep 2016

Rank #16

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Should You Invest In Individual Stocks?

#3 Why investing in individual stocks can be so intoxicating and dangerous. What you should know before you try. Show notes at https://moneyfortherestofus.com/should-you-invest-in-individual-stocks-003/See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

25mins

18 May 2014

Rank #17

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The Universal Law You Need To Overcome To Thrive

#141 How to overcome the second law of thermodynamics in investing and living.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

25mins

18 Jan 2017

Rank #18

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Should You Buy A Vacation Home?

#130 How changes in financial circumstances, property markets, zoning rules and personal taste can make owning an illiquid vacation property a risky proposition, but why we bought our dream place anyway (and then sold it).See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

22mins

26 Oct 2016

Rank #19

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Investing Rules of Thumb

#34 Why simple investment rules are more accurate than complex formulas. Show notes at http://moneyfortherestofus.net/mny034-rules-of-thumb/ To sign up for the Money For the Rest of Us Insider's Guide text the word INSIDER to 44222.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

29mins

10 Dec 2014

Rank #20