I would tell you to just make the payment. When there is an overpayment to the mortgage they will send you a check back. 

So unless there's some reason you need that money in the moment I would just avoid the headache. 

Currently your house is planned to be sold on the 5th. But I have seen numerous closings on the same day fall through or need to be pushed back. 

Personally I would just pay it to avoid the potential fallout of it not being paid.

Your career break is the least of your worries.

If you are self-taught without a CS degree in the current market, you are going to have a very rough time.

You are competing with thousands and thousands of other devs that have CS degrees and several years of experience.

Bad but not as bad as during the great recession.  

The bigger threat is that cs graduation numbers are growing 10% YoY meaning there will be an explosion of cs grads in the coming decade.

Laid off and fired are not the same thing friend.   Kudos for continuing to find work though.  That's a critical life skill and you seem to have it in spades.

First ask for proof of debt. If they can prove it, contact the hospital financial services dept and plead your case to them. I had a 10k bill covered by a donor because I explained I am a working student and have enough money in my account for rent, and have significant debt. If it already went to collections it may be too late, and if proven, then talk to the debt collectors about what you can realistically afford to pay. If I'm not mistaken, they have to work with you.

We would need to see the plan documents to know what is happening here.

A lot of plans offer a match "up to" a certain percentage of the employee's compensation, but it's not necessarily a dollar for dollar match. For example, an employer might offer a 50% match up to 4% of compensation. Meaning in order to get the 4% match, the employee has to contribute 8% of their income.

Have you double-checked your employee benefits guide/handbook or asked HR for an explanation?  That is where I would start.

All we know is what your understanding of your 401k plan is. We don't know if your understanding is correct or not.

Did it cap out at $13,200? The income limit for contributions and match for 2023 was $330,000. The math checks out for 4%.

I do *reasonable* take homes.

Reasonable to me is a project where the time expectation is 3 hours or less. Anything more I don't do. Even 3 hours is pushing it, 2 hours is more ideal. If it's not explicit in the spec, I ask. If they say "use as much time as you need", or something along those lines, I'd interpret that as unlimited and refuse.

One thing I think a lot of people confuse, which gives take homes a bad rap is that the deadline is the time expectation. A week deadline is pretty normal. That *does not* mean you should be spending a week on it. It means you have a week to do it. I see people misinterpret that all the time.

I don't have to refuse often, most take homes I've gotten have been very reasonable.

I also won't do take homes if it's the very first thing I'm getting from the company... I want to have made it past the HR screen and the first hiring manager interview before I touch a take home. Mostly because the HR/HM interviews are extremely important for *me*. I need to know if the company can afford me, and if I think I'd even enjoy the role, before I commit my time to a take home.

I had one that was a 5 day assignment but the interviewer said it should take you a few hours since you are experience. 

I took 4 days and still needed time but my gf said just turn it in, it's not fair.

I was rejected, mind you they wanted multiple types of tests (integration, UI, Unit). They also wanted a bunch of other stuff.

Later I realized most people cheat because the project was listed on Github. I assume most people cheat or have code ready to go, they don't code things on the spot. 

I always try to be honest with everything and took the assignment seriously but if everyone else cheats it kinda defeats the purpose of the take home test.

This is why the recruiter could tell me that the test should only take a few hours when I have designed software for Fortune 500 companies and know very well that this is not possible in a few hours without cheating or having code ready to go. 

I was laid off and didn't have access to the years of code that I wrote, instead I coded everything on the spot but it wasn't enough...

I basically stopped applying for now and have a seasonal government job. I am waiting for things to blow over and working on my CS degree atm.

Take job listings with a grain of salt, the people that write them are not always smart.  Most of us have seen job listings in our career that asked for people with 10 years of experience with a tech/language that was only 6 years old lol.

I've been asked some insane questions in interviews. This is the one that bothers me the most because I've never solved it or found an answer. 

Imagine you're the size of a nickel, and you're in a blender. The blender is going to start in five seconds. What do you do? 

The two times I was asked this, I responded either stand along the side of the pitcher and wait it out because the blades would be too short to reach me OR jump up out of the pitcher because my strength is not decreased at the same rate as my mass. Apparently both of these answers are wrong. I did not get either job.

Your lender should’ve received a payoff demand from escrow. Once you close on the 5th, escrow will send a check for the full balance amount to your lender. I wouldn’t worry too much about it. For peace of mind, you’re welcome to call your escrow officer.

I'm sorry that it needs to be said, but never admit personal illness to an employer or to a potential employer. They are afraid you'll join, then use the law to ask for 'reasonable accommodations', which are protected by the law, and could cost them a lot of money. If you ever ask for such accommodations, many employers will try to fire you instead of giving any accommodations.

You should come up with a less 'scary' story for your time off. It might be better to just say you were dealing with 'personal family matters' which are 'now resolved', without giving more detail, even if they press you for more detail. You can just say "it was a personal family matter" if they press you. They really don't need to know

I'm not trying to be an asshole here but no one really cares about whatever "up skill" stuff you were doing. 

They care about degrees, work history, and projects, and what you actually know how to do. You are fighting a very hard uphill battle. Lying is not recommended, if for some reason you get caught it's a great excuse to fire you.

I know the market is fairly volatile and a series of unfortunate events can most certainly happen, but if I was laid off 6 times in three years (with multiple of those layoffs happening in weeks or months after starting) then I’d consider looking into the mirror.

I went straight from high school to a software engineering job around 2010, and after a few years went to college for a different degree(EE). 

Despite it being years of experience where my title wasn't intern and my degree being unrelated most recruiters didn't want to count it. Many recruiters just wanted to count post college experience for my first and second job hunt(Now the difference is kind of negligible in the grand schema of things, especially since I'm not chasing high levels). So I wouldn't say this is a new thing.

I got two phones.

One for the plug and one for the load.

So you contribute 4% of your paycheck, which comes out to $23,000/yr. Meaning you gross $575k?

I'd guess you're running up against some IRS rule about highly compensated employees in that case. Nothing in your plans rules can override those laws. I'd read about the annual compensation cap rules.

Also that 4%, 100% vested immediately is a match for safe harbor law policies. 

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits#:~:text=In%20addition%2C%20the%20amount%20of,2021%2C%20%24285%2C000%20for%202020).

https://smartasset.com/retirement/401k-highly-compensated-employee

We have an intern on my team this year who has more YOE than I do **at my company**. He's from another country, worked at the local branch of my company for 3 years, then came to the US to do a Master's. Since he's a student now, he can apply to internships, and got one with us.

Baaad. I have 3 YOE, and I’m a career switcher. Third company in three years, and just narrowly missed layoffs at my last two companies by job hopping at the right time. I feel like I’m hanging on to this career by my fingernails, trying not to get knocked off

I could sooner get a job in my former white-collar field, that I haven’t worked in for 3 years, than another job as a SWE

What state?  Because I’m not aware of a state where involuntary hospital stays are free.

Honestly... it sounds like corporate work isn't for you. Maybe at this point consider starting your own business. I mean that seriously and not facetiously. 

I don't see how getting hired a 7th time will change the pattern you're currently experiencing.

2 phones, 2 laptops, a PC and 2 ipads lol and yes I have many so that I can turn things off and not carry them then I just take my personal phone out and about with me

I have one. Since Google Voice became available for Canadians that's what I've been using for a business number.

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>Tesla (NASDAQ:TSLA) stock has been downgraded to a Sell recommendation by Philip Securities analysts, who said there is “not much to like” about the electric vehicle (EV) giant following its latest quarterly report. The analysts set a price target of $135 on TSLA, implying nearly 40% downside risk from the current levels.

https://www.investing.com/news/stock-market-news/tesla-stock-downgraded-to-sell-analysts-say-not-much-to-like-3538401

Tesla stock downgraded to Sell, analysts say 'not much to like'

I just checked my 401k after several years and just now noticed my employer stopped taking contributions from my check without my ask to do so. 

My statements show I’ve been contributing 5% each pay period from November 2021 (my earliest available time to enroll and with a 5% match) and then the contributions just stop March 2022. 
Is there a reason my employer would stop taking contributions from my check for the 401k? Is there a way to get paid back the amount I thought was getting taken out? 

I’ll be talking with our HR person who handles this tomorrow when they come in, but wanted to ask here in case I’m missing something obvious or if there is something I can ask them to get this fixed. 

Edit: lol I guess I should’ve beat myself up a bit in this post to let everyone know I *do* feel dumb for overlooking my pay stubs. They all show “401k” and “contributions” on the digital pay stub so I thought they were being taken out, but nothing was. 
Stupid on my part and I’ll probably have to eat it, but thanks to the 1 or 2 people that actually answered my question or gave me other ideas instead of just pulling some Captain Hindsight shit. 

Just learned employer stopped taking contributions from my check for 401k 

Yay.

Our assets of about $1.15m include house, cars, 401K, 529s, vehicles, bank accounts, and 1% share in a small business.

Our liabilities of about $140k are mortgage and credit card debt.

I imagine the net worth will dip back below $1m once my son goes to college (he'll be a junior) and our vehicles lose value. But it feels really, really good to get to this point.

My dream is that the value of my 1% share in the business grows 10x and we sell. That in itself would bring my net worth close to $3m.

I haven't really calculated my FIRE number or anything like that, especially since my marriage is on the rocks and that's going to be a huge hit to my net worth once that comes to an inevitable end. She doesn't work and I work two FT jobs :S

Just had to share some good news. I've been grinding a long time and continue to do so. Good luck to the rest of you out there!

Just crossed $1 million net worth (45m)

Yes, I understand this will take work and am willing to put forth great effort.  

I read about a FB employee working fully remote on cruise ships and can only imagine the possibilities out there.

I’m assuming most careers that offer remote flexibility and high-income will be tech. 

If anyone is a business owner accomplishing a fully remote/global lifestyle, feel free to tell us how! 

What is the the ultimate career to be fully remote/live anywhere in the world and make over $200k annually?

*TLDR at the bottom*  
  
I've been retired for almost 4 years now (I'm 41, retired at 38). I see a lot of posts with varying amounts of existential dread after retiring. I thought I'd share my view and some advice for new (young) retirees.

  
People tend to go into retirement expecting some blissful existence that automatically materializes the moment they no longer have to work. A lot of advice on this forum is the -very well known- basics, like "know what you're retiring to", "focus on hobbies" that kind of stuff. I have a different view.

  
After retiring in October 2020, I went through all the same phases (though I was never tempted to go back to work ;-)). At first I denied myself a lot (i.e. DO NOT try to become a StarCraft II pro), worked with daily todo lists to give myself a sense of achievement, did a deep dive into philosophy, and many more things.

Eventually I came to the realisation that, when you're retired YOU are the ONLY ONE that is responsible for your happiness, self-actualisation and general quality of life.  This is extremely hard. Especially for high achievers that typically tend to retire early (because of the high level of specialisation typically associated with being succesful). This is the whole reason some people go back to work!

  
Allright... so how should we approach retirement? **Like an actual job!** 

  
This means crafting your life in such a way that you're optimising for happiness and fun. This means balancing a lot of things and having an openminded and honest reflection on what works, and what doesn't.

For me personally, I'm constantly balancing:  
- Family time  
- Alone time (i.e. actual sitting there watching YouTube, I need some of that)  
- Hobbies  
- Friends and other social activities  
- Sports  
- Meditation  
- Learning something new (or challenging myself in some other way)... and Music

Whenever one gets out of balance, I feel it, reflect and adjust. There's no way at all this is automatically happening if you're just winging it. So. Get. To. Work! 

  
What's missing in your retired life? What's an easy way to make steps towards getting it? Or is there too much of something? FIX IT!

There's so much more to be said about this subject. I can make a follow up post with more details if there's interest from the community.

*TL;DR: Being retired is hard and takes conscious effort to do it right. Analyse, make it your job to do it perfectly.*

Being retired is your JOB. It's hard, and you're not good at it (yet)!

My kids (2 mo old) were given a couple thousand in cash/checks each from their grandparents. I've been sitting on it for a month trying to figure out how to use it most effectively. Put them into a 529? Open a HYSA in their name? It's not a ton of money so it's not like it's going to grow a bunch... but at the same time it's not doing anything sitting on my kitchen counter either. Am I able to use the money to take out a 12 month CD and let it grow a bit? I have no idea how banking for newborns is supposed to work and just don't want to make a silly decision.

Edit: tons of replies all saying 529. I was not aware it rolls into a Roth after 15 years so that's definitely the way to go. thanks!

Family member gifted money to my newborn children - wondering what's the best use for it.

As title says, I see a lot of people talk about how reaching your first 100k takes a while. But after you reach 100k, compound interest kicks in and that's when you start see your money grow a lot. The thing I'm confused about is what is the referring to? Are they referring to having 100k in a brokerage/HYSA account to see that explosion? If my fidelity portfolio(5 accounts) has a total of 100k, is that still the same thing and would I see the same explosion of growth?

Net worth explosion after 100k

I’ve made a lot of progress in recent years—steady job, some savings, a nice place to live, and a healthier lifestyle. The only hobby from my past that I’ve held onto is sports betting on Stake. I do it casually, placing a bet or two a week with amounts ranging from $20-$50. (though sometimes my parlays win and I x10 the bet, technically its not worth in long run).

While this habit won’t hurt my FIRE goals, it feels like the last step I need to truly dedicate myself to this journey.

Has anyone else had a similar experience with a hobby or habit that feels like the final hurdle?

Struggling to give up sports betting as my last step towards FIRE

We recently merged teams with another team who is off shore. They are asking us now to do knowledge transfers, and create runbooks, and my entire team is reluctanant. They are literally ignoring the managers email requests to do it. 

He asked us 3 times and each time there is no reply from anybody on my team. 

Are we getting replaced? should I be looking for a new role.?

We recently merged teams with an OffShore team and they want us to do knowledge transfer sessions am I losing my job?

we're able to use my grandma's money to live off of for now but I need health insurance, I've got arthritis and need birth control for endo and hormone issues. I have no idea when my parent will be able to work again, at the very least not for another month. but I need my bc refilled before then and can't afford to pay $300 for it. I'm really scared because I don't believe my parent is it taking it as serious as they should. long story I don't care to elaberate on, I just need to know what I can do for myself in this situation.  


parent was fired, I'm a minor and can't work full time to get my own insurance. what to do?

I'll start: If you had to eliminate a state which one would you eliminate and why? My answer was Mississippi because they are last in just about everything.

Worst interview question you've been asked?

Further context: I was battling my chronic illness even while working, but after getting laid off, it got seriously bad. I was in chronic pain \~2 weeks out of a month. I tried desperately to interview and get a job, but I just couldn't interview effectively. Very begrudgingly, I stepped away from interviewing and focused entirely on getting better and upskilling. I'm self-taught so I did a bunch of core CS courses to make up for education. 

Now I'm much better and ready to jump back into interviewing. But WOW, recruiters are awful. I honestly thought saying "Hey I was really sick, but I'm better now and btw here's all the upskilling I did" would be sufficient, but they have been treating me like absolute dogshit. 

So far, my strategy has been to build decent intermediate-level projects, reach out directly to hiring managers and show them what I can do. However, I have also been honest about my career break. Some people are telling me I need to fib and say I was doing a side business or freelance/contract work because it looks better.  What are people's thoughts? Should I be fibbing, even a little bit?

I took a year and a half career break due to a chronic illness. Am I screwed in this job market?

I’m looking for a new job right now and so far I’ve wasted many hours doing coding assignments for companies that seemingly have no intention of hiring anyone at all. 





I finish the assignment, move onto the next stage, then get rejected. 





Literally 80% of rejections are something along the lines of “our needs changed - we want X instead of Y”, “we’re restructuring”, or “we decided not to hire anyone at all”. 




Is my interviewing so bad that I’m making these companies decide not to hire after all? I’m getting quite fed up of all the time wasted for organizations that don’t seem to know what they want and are wasting my (and presumably other applicants’) time. 




So I’m curious if anyone has tried the “go to hell” strategy when a take home assignment is mentioned. 

Anyone refuse to do take home assignments?

So I graduated university 4 years ago. In that time, I've been laid off 6 times. This understandably leads to a lot of anxiety, and I am terrified of reentering the work force.

I have a Bachelors' degree in chemical engineering, and am currently going back to school for my master's, mainly because I get stable income from it as I haven't been able to hold down a job for longer than a few months.

A bit about my previous firings:
- Laid off after 1.5 months for automating most of my job which my old school manager did not like
- Laid off after 2 weeks due to lack of work. My job was reassigned to a senior employee.
- Laid off after 3 months because my employer lied about my position being permanent, and I was actually just there to cover someone's maternity leave. I sued them for contract fraud and settled out of court.
- Laid off after 1.5 weeks due to company not having enough work, business then fired most of its staff as it lost half their contracts that were with 1 supplier.
- Laid off due to ex-girlfriend coming into the office multiple time to bitch at me for not texting her while working (this was understandable)
- Laid off due to scheduling conflicts after 2 months (manager did not even notify me there was a problem, which could have easily been fixed)


How do I get over my fear of being fired after getting laid off 6 times in 3 years?

A couple of years ago, I was placed on an involuntary psychiatric hold at an emergency room.  Later on, I received two separate medical bills from that stay, one for approximately 5k, and the other for around 1k.  From what I understand, patients are not responsible for hospital bills for involuntary mental health holds in my state, but now that they're in collections, I'm not sure if that even matters or how I can validate that.  I want to get this off my credit report but simply can't pay that $6k.  I've thought about negotiating paying a smaller fee for them to wipe it off my report, but I just don't think it's even fair that I'm on the hook for them in the first place.  Is there any way I can get rid of these without paying anything and without getting a lawyer involved?  Would appreciate any insight.   

  
P.S.  I have not seen an itemized bill for the services, but I cannot imagine what the hell could cost 6k - I was handcuffed to a hospital bed for 8 hours, and saw a psychiatrist for a total of 10 minutes.  I was then transferring out of the hospital to a different one that had the services I needed.  No medical procedures or tests were done.  No ambulance involved.  So I'm also confused as to why this bill is so damn high. 

Over $6k medical bill in collections from an involuntary psychiatric hold.  I have no idea how to remedy this.

My employer offers a 401k match up to 4% of earnings. I’ve set my contributions to 4% and have maxed out my contributions last year and this year; however my employer’s contributions stop around ~$13.5k both years. 

I do receive commission checks and have noticed that they match those as well as my regular salary. 

There is no stipulation that there is a maximum to the match nor is there a call out for salary vs commission in any documentation I can find. 

Is this common? Any suggestions on how to peruse this? If I were to leave, do I have any standing to receive this money? 

Not only is it a lot of money owed, but it has also missed a lot of time in the market.

Edit: solved thanks to u/exact_intention1804. Thanks to everyone who commented for your help. 

Employer hasn’t matched their full commitment to my 401k.

I was advised that the wire would take place on the 5th, paying off the mortgage immediately. That, paired with the 15 day grace period, puts me in the safe range of saving this mortgage payment. However, paying something past the due date just feels wrong on a very deep level with me lol. Are there any reasons anyone can think to not go through with this plan and just make the mortgage payment?

If my house is being sold on the 5th, but my mortgage is due on the 1st, should I pay my mortgage payment on the 1st?

I live in Canada and I have seen people get layoff from different positions. But even here, where the job market is not as good as the US, most devs find a job in 6-8 months. 
I open some posts on this sub and experienced devs are saying they couldn't get an interview  in 8 months.As an example I found a post where an experienced dev had a break in his career and everybody was saying that he's chances are pretty low. Or you read things like a CS degree is necessary. I don't think this is the case in most companies. 
Anyway maybe I'm missing something but like to hear your thoughts 

Is the job market as bad as this sub says?

Looking at potential entry level jobs and many of them are saying they want 3-5 years of experience, specifically mentioning how internships don’t count. 

What on earth is someone new to the industry supposed to do to get hired?


Anyone notice how internship experience is no longer being counted for entry level jobs?

Currently juggling my personal smart phone, undoubtedly got turned into my work phone. Surely some of your personal devices got turned into work devices, personal number given out, etc.

How did you manage telling friends and family? How did you go about migrating your personal data from business data? Is anyone else just having one heck of a time getting away from their devices, ie on the weekend, or after business hours?

What are my other fellow CEOs doing to stay proactive in disconnecting? I've been the type of guy that has to leave his phone on silent & in Do Not Disturb/focus mode to avoid constant dinging from notifications all day long. So, what's the trick?

How many smart phones do you have?

#526: Recorded LIVE on stage at the Morningstar Conference in Chicago! We chat with behavioral finance professor Meir Statman. He breaks down the differences between standard finance and behavioral finance, making it clear that understanding human behavior is an essential part of investing. Statman starts by explaining that standard finance assumes people are rational. They make decisions purely based on logic and aim to maximize wealth. However, behavioral finance sees people as normal, not always rational. We often act on emotions and cognitive shortcuts. For instance, people might prefer receiving dividends over selling shares, even if both result in the same financial gain. This is because dividends feel like income, while selling shares feels like dipping into savings. He uses a great metaphor to explain how investors view their portfolios. Think of a dinner plate: behavioral investors like their investments separated, like mashed potatoes on one side, vegetables on another, and steak in the middle. Rational investors don’t care if it’s all blended together because they only focus on the total nutrients. This shows that normal investors have different needs and want to balance safety with growth. Statman talks about the importance of diversification. He recalls a lunch with Harry Markowitz, the father of Modern Portfolio Theory, who supported the idea of having a mix of safe and risky investments. Markowitz himself had municipal bonds to avoid poverty and stocks to grow wealth. Diversifying helps investors manage risk and meet both their safety and growth needs. We then dive into how people manage money across their life cycle. Statman points out that young people know they need to save but are tempted to spend. They often control this urge by putting money into retirement accounts like 401(k)s. As people get older, they become so good at saving that they sometimes forget to spend and enjoy their money. Statman gives a funny example of his mother-in-law, who refused to replace an old sofa because she didn’t want to dip into her savings. Statman also touches on asset pricing and market efficiency. He explains that while traditional finance focuses solely on risk, behavioral finance considers other factors like social responsibility. Some investors are willing to accept lower returns to stay true to their values. Additionally, he argues that market prices do not always reflect true value, and it’s hard to predict when they will. Towards the end, we discuss the broader aspects of wellbeing. Statman emphasizes that financial wellbeing is just one part of a happy life. Family, health, work, and community are also crucial. He believes financial advisors should help clients achieve overall life wellbeing, not just financial success. For more information, visit the show notes at https://affordanything.com/episode526  Timestamps Note: Timestamps vary on individual listening devices based on advertising run times. 1:23 - Explain the differences between standard and behavioral finance. 4:30 - Discuss Harry Markowitz's influence on modern investment strategies. 6:08 - Highlight life cycle investing and saving/spending behaviors over a lifetime. 10:02 - Explore mental accounting and differentiating between income and capital. 11:14 - Talk about common trading mistakes due to cognitive errors. 14:26 - Discuss utilitarian, expressive, and emotional benefits of financial decisions. 17:41 - Explain the difference between System 1 and System 2 thinking. 21:39 - Discuss how emotions and moods impact investment decisions. 25:59 - Explore the concept of regret and how it affects financial decisions. 30:21 - Emphasize the importance of human touch in financial advising. 44:00 - Discuss the impact of AI on different industries and investment decisions. 48:24 - Highlight the need to balance financial wellbeing with overall life wellbeing. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#526: Recorded LIVE on stage at the Morningstar Conference in Chicago! We chat with behavioral finance professor Meir Statman. He breaks down the differences between standard finance and behavioral finance, making it clear that understanding human behavior is an essential part of investing.Statman starts by explaining that standard finance assumes people are rational. They make decisions purely based on logic and aim to maximize wealth. However, behavioral finance sees people as normal, not always rational. We often act on emotions and cognitive shortcuts. For instance, people might prefer receiving dividends over selling shares, even if both result in the same financial gain. This is because dividends feel like income, while selling shares feels like dipping into savings.He uses a great metaphor to explain how investors view their portfolios. Think of a dinner plate: behavioral investors like their investments separated, like mashed potatoes on one side, vegetables on another, and steak in the middle. Rational investors don’t care if it’s all blended together because they only focus on the total nutrients. This shows that normal investors have different needs and want to balance safety with growth.Statman talks about the importance of diversification. He recalls a lunch with Harry Markowitz, the father of Modern Portfolio Theory, who supported the idea of having a mix of safe and risky investments. Markowitz himself had municipal bonds to avoid poverty and stocks to grow wealth. Diversifying helps investors manage risk and meet both their safety and growth needs.We then dive into how people manage money across their life cycle. Statman points out that young people know they need to save but are tempted to spend. They often control this urge by putting money into retirement accounts like 401(k)s. As people get older, they become so good at saving that they sometimes forget to spend and enjoy their money. Statman gives a funny example of his mother-in-law, who refused to replace an old sofa because she didn’t want to dip into her savings.Statman also touches on asset pricing and market efficiency. He explains that while traditional finance focuses solely on risk, behavioral finance considers other factors like social responsibility. Some investors are willing to accept lower returns to stay true to their values. Additionally, he argues that market prices do not always reflect true value, and it’s hard to predict when they will.Towards the end, we discuss the broader aspects of wellbeing. Statman emphasizes that financial wellbeing is just one part of a happy life. Family, health, work, and community are also crucial. He believes financial advisors should help clients achieve overall life wellbeing, not just financial success.For more information, visit the show notes at <a href="https://affordanything.com/episode526" rel="nofollow">https://affordanything.com/episode526</a> TimestampsNote: Timestamps vary on individual listening devices based on advertising run times.1:23 - Explain the differences between standard and behavioral finance.4:30 - Discuss Harry Markowitz&#39;s influence on modern investment strategies.6:08 - Highlight life cycle investing and saving/spending behaviors over a lifetime.10:02 - Explore mental accounting and differentiating between income and capital.11:14 - Talk about common trading mistakes due to cognitive errors.14:26 - Discuss utilitarian, expressive, and emotional benefits of financial decisions.17:41 - Explain the difference between System 1 and System 2 thinking.21:39 - Discuss how emotions and moods impact investment decisions.25:59 - Explore the concept of regret and how it affects financial decisions.30:21 - Emphasize the importance of human touch in financial advising.44:00 - Discuss the impact of AI on different industries and investment decisions.48:24 - Highlight the need to balance financial wellbeing with overall life wellbeing. Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices" rel="nofollow">podcastchoices.com/adchoices</a>

Why Normal People Are Irrational Investors, with Finance Professor Meir Statman 

Clay Finck chats with Andy Edstrom about why Bitcoin should be considered as a part of an investment portfolio, how Andy thinks about valuing Bitcoin as an investment, how investors can potentially keep themselves from ‘buying the top’ in Bitcoin, the 14 characteristics of money and how Bitcoin stacks up against gold and fiat currency, some of the common misconceptions around Bitcoin, and much, much more! Andy Edstrom, CFA, CFP is a wealth manager at Wescap Group and is Managing Director of Swan Advisor Services.  IN THIS EPISODE, YOU’LL LEARN 00:00 - Intro 02:00 - How Andy discovered Bitcoin and ended up buying it. 07:40 - Why investors should consider adding Bitcoin as a part of their portfolio. 07:40 - Why Bitcoin has a lot of potential to continue achieving very high returns. 26:13 - How Andy thinks about the value of Bitcoin today when buying it for his portfolio. 26:13 - How investors can potentially keep themselves from ‘buying the top’ in Bitcoin. 40:53 - Why it’s important to first understand money, what is good money versus what is bad money. 40:53 - What the 14 characteristics of money are. 58:17 - What is driving the continued growth in the adoption of Bitcoin in portfolios? 58:17 - Why El Salvador is embracing Bitcoin and what countries might be next. 01:18:01 - What makes Bitcoin different from all of the other cryptocurrencies? 01:18:01 - Why Bitcoin incentivizes the movement towards renewable and green energy. 01:27:12 - Why the US government is not likely to ban Bitcoin. And much, much more!  *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.  BOOKS AND RESOURCES  Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.  Check out Swan Advisor Services.  Andy’s book, Why Buy Bitcoin.  Trade Bitcoin with Swan.  Check out TIP’s Mayer Multiple and the Mayer Multiple Twitter Account.  Square and Ark Invest’s Report, Bitcoin is Key to an Abundant, Clean Energy Future.  Explanation of the Lindy Effect.  Related Episode: Listen to MI032: Bitcoin, Cryptocurrencies, and Blockchain (Part 1) w/ Preston Pysh, or watch the video.  Related Episode: Listen to MI044: Bitcoin, COVID-19, And Macroeconomics For Beginners Part 1 w/ Pomp, or watch the video.  Check out the books mentioned in the podcast here.  Enjoy ad-free episodes when you subscribe to our Premium Feed.   NEW TO THE SHOW?  Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok.  Check out our Millennial Investing Starter Packs.  Browse through all our episodes (complete with transcripts) here.  Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance.  Enjoy exclusive perks from our favorite Apps and Services.  Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.   Learn how to better start, manage, and grow your business with the best business podcasts.   SPONSORS Support our free podcast by supporting our sponsors:  Range Rover  Airbnb  Toyota  Public  NetSuite   Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Clay Finck chats with Andy Edstrom about why Bitcoin should be considered as a part of an investment portfolio, how Andy thinks about valuing Bitcoin as an investment, how investors can potentially keep themselves from ‘buying the top’ in Bitcoin, the 14 characteristics of money and how Bitcoin stacks up against gold and fiat currency, some of the common misconceptions around Bitcoin, and much, much more!Andy Edstrom, CFA, CFP is a wealth manager at Wescap Group and is Managing Director of Swan Advisor Services. IN THIS EPISODE, YOU’LL LEARN00:00 - Intro02:00 - How Andy discovered Bitcoin and ended up buying it.07:40 - Why investors should consider adding Bitcoin as a part of their portfolio.07:40 - Why Bitcoin has a lot of potential to continue achieving very high returns.26:13 - How Andy thinks about the value of Bitcoin today when buying it for his portfolio.26:13 - How investors can potentially keep themselves from ‘buying the top’ in Bitcoin.40:53 - Why it’s important to first understand money, what is good money versus what is bad money.40:53 - What the 14 characteristics of money are.58:17 - What is driving the continued growth in the adoption of Bitcoin in portfolios?58:17 - Why El Salvador is embracing Bitcoin and what countries might be next.01:18:01 - What makes Bitcoin different from all of the other cryptocurrencies?01:18:01 - Why Bitcoin incentivizes the movement towards renewable and green energy.01:27:12 - Why the US government is not likely to ban Bitcoin.And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES<ul><li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind" rel="nofollow">TIP Mastermind Community</a> to engage in meaningful stock investing discussions with Kyle and the other community members.</li><li>Check out <a href="https://www.swanbitcoin.com/advisor/" rel="nofollow">Swan Advisor Services</a>.</li><li>Andy’s book, <a href="https://amzn.to/3YjAj2a" rel="nofollow">Why Buy Bitcoin</a>.</li><li>Trade Bitcoin with <a href="https://www.swanbitcoin.com/millennial-investing" rel="nofollow">Swan</a>.</li><li>Check out TIP’s <a href="https://www.theinvestorspodcast.com/bitcoin-mayer-multiple/" rel="nofollow">Mayer Multiple</a> and the <a href="https://twitter.com/TIPMayerMultple" rel="nofollow">Mayer Multiple Twitter Account</a>.</li><li>Square and Ark Invest’s Report, <a href="https://assets.ctfassets.net/2d5q1td6cyxq/5mRjc9X5LTXFFihIlTt7QK/e7bcba47217b60423a01a357e036105e/BCEI_White_Paper.pdf" rel="nofollow">Bitcoin is Key to an Abundant, Clean Energy Future</a>.</li><li>Explanation of the <a href="https://en.wikipedia.org/wiki/Lindy_effect" rel="nofollow">Lindy Effect</a>.</li><li>Related Episode: Listen to <a href="https://link.chtbl.com/MI032" rel="nofollow">MI032: Bitcoin, Cryptocurrencies, and Blockchain (Part 1) w/ Preston Pysh</a>, or watch the <a href="https://www.theinvestorspodcast.com/millennial-investing/bitcoin-crypto-blockchain-part-1/" rel="nofollow">video</a>.</li><li>Related Episode: Listen to <a href="https://link.chtbl.com/MI044" rel="nofollow">MI044: Bitcoin, COVID-19, And Macroeconomics For Beginners Part 1 w/ Pomp</a>, or watch the <a href="https://www.theinvestorspodcast.com/millennial-investing/mi044-bitcoin-covid-19-and-macroeconomics-for-beginners-part-1-with-pomp-investing-podcast/" rel="nofollow">video</a>.</li><li>Check out the books mentioned in the podcast <a href="https://prodcast.io/mi" rel="nofollow">here</a>.</li><li>Enjoy ad-free episodes when you subscribe to our <a href="https://premium.theinvestorspodcast.com/" rel="nofollow">Premium Feed</a>.</li></ul> NEW TO THE SHOW?<ul><li>Follow our official social media accounts: <a href="https://twitter.com/TIP_Network" rel="nofollow">X (Twitter)</a> | <a href="https://www.linkedin.com/company/the-investor&#39;s-podcast/" rel="nofollow">LinkedIn</a> | <a href="https://www.instagram.com/theinvestorspodcastnetwork/" rel="nofollow">Instagram</a> | <a href="https://www.facebook.com/TheInvestorsPodcast" rel="nofollow">Facebook</a> | <a href="https://www.tiktok.com/&#64;theinvestorspodcast" rel="nofollow">TikTok</a>.</li><li>Check out our <a href="https://www.theinvestorspodcast.com/mi-starter-packs/" rel="nofollow">Millennial Investing Starter Packs</a>.</li><li>Browse through all our episodes (complete with transcripts) <a href="https://www.theinvestorspodcast.com/millennial-investing/" rel="nofollow">here</a>.</li><li>Try Kyle&#39;s favorite tool for picking stock winners and managing our portfolios: <a href="https://www.theinvestorspodcast.com/tip-finance/" rel="nofollow">TIP Finance</a>.</li><li>Enjoy exclusive perks from our <a href="https://www.theinvestorspodcast.com/affiliates/" rel="nofollow">favorite Apps and Services</a>.</li><li>Stay up-to-date on financial markets and investing strategies through our daily newsletter, <a href="https://www.theinvestorspodcast.com/newsletters/" rel="nofollow">We Study Markets</a>. </li><li>Learn how to better start, manage, and grow your business with the <a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/" rel="nofollow">best business podcasts</a>.</li></ul> SPONSORSSupport our free podcast by supporting our <a href="https://theinvestorspodcast.com/sponsors" rel="nofollow">sponsors</a>:<ul><li><a href="https://landroverusa.com/" rel="nofollow">Range Rover</a></li><li><a href="https://airbnb.com/host" rel="nofollow">Airbnb</a></li><li><a href="https://buyatoyota.com/" rel="nofollow">Toyota</a></li><li><a href="https://public.com/" rel="nofollow">Public</a></li><li><a href="https://netsuite.com/mi" rel="nofollow">NetSuite</a></li></ul> Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm/" rel="nofollow">https://theinvestorspodcastnetwork.supportingcast.fm</a> Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices" rel="nofollow">megaphone.fm/adchoices</a>Support our show by becoming a premium member! <a href="https://theinvestorspodcastnetwork.supportingcast.fm" rel="nofollow">https://theinvestorspodcastnetwork.supportingcast.fm</a>

MI Rewind: Why Buy Bitcoin w/ Andy Edstrom

Quint and Daniel talk about how to rebalance your portfolio, when to do it, and why you should go through the rebalancing process over time.

Quint and Daniel talk about how to rebalance your portfolio, when to do it, and why you should go through the rebalancing process over time.

Rebalancing 101

We've all seen headlines about the multi-million dollar properties being sold in Miami. Right now, there's a $135 million mansion in Coconut Grove listed on Zillow, and Citadel CEO Ken Griffin has been snapping up a string of expensive properties in the city, including a $100 million waterfront estate. So what's it like to actually deal in this market? And what are the ultra-rich looking for exactly? In this episode, we speak with Dina Goldentayer, the No. 1 individual real estate agent for broker Douglas Elliman. She's been active in the Miami area for almost two decades and has seen the market for ultra-luxury homes boom alongside her career. We talk about the difference between being a realtor who sells homes for $500,000 versus one that sells homes for $5 million, and whether billionaires are really buying houses after seeing them on TikTok.See omnystudio.com/listener for privacy information.

We&#39;ve all seen headlines about the multi-million dollar properties being sold in Miami. Right now, there&#39;s a $135 million mansion in Coconut Grove listed on Zillow, and Citadel CEO Ken Griffin has been snapping up a string of expensive properties in the city, including a $100 million waterfront estate. So what&#39;s it like to actually deal in this market? And what are the ultra-rich looking for exactly? In this episode, we speak with Dina Goldentayer, the No. 1 individual real estate agent for broker Douglas Elliman. She&#39;s been active in the Miami area for almost two decades and has seen the market for ultra-luxury homes boom alongside her career. We talk about the difference between being a realtor who sells homes for $500,000 versus one that sells homes for $5 million, and whether billionaires are really buying houses after seeing them on TikTok.See <a href="https://omnystudio.com/listener" rel="nofollow">omnystudio.com/listener</a> for privacy information.

A Top Miami Broker on the Booming Market for Ultra-Luxury Homes

#806 "If you build it, they will come." You've heard it a lot, but don't apply this movie quote to your online business. Instead, gather as big an audience as possible around your mission before launching anything! Of course, I know you're saying this is easier said than done. So, what are the actual steps you can take to build up your following if you're starting from scratch? Listen in on today's coaching call with Krystle Krueger of YourFashionIsArt.com to hear my advice for someone in this exact position! There's a lot of noise out there, so stories and brand culture should be essential parts of your marketing strategy. We dive into that and then discuss the best ways to get in front of new audiences starting with the relationships you might already have. Enjoy! Show notes and more at SmartPassiveIncome.com/session806.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

#806 &#34;If you build it, they will come.&#34; You&#39;ve heard it a lot, but don&#39;t apply this movie quote to your online business. Instead, gather as big an audience as possible around your mission before launching anything! Of course, I know you&#39;re saying this is easier said than done. So, what are the actual steps you can take to build up your following if you&#39;re starting from scratch? Listen in on today&#39;s coaching call with Krystle Krueger of YourFashionIsArt.com to hear my advice for someone in this exact position! There&#39;s a lot of noise out there, so stories and brand culture should be essential parts of your marketing strategy. We dive into that and then discuss the best ways to get in front of new audiences starting with the relationships you might already have. Enjoy! Show notes and more at <a href="https://www.smartpassiveincome.com/session806" rel="nofollow">SmartPassiveIncome.com/session806</a>.See Privacy Policy at <a href="https://art19.com/privacy" rel="nofollow">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="nofollow">https://art19.com/privacy#do-not-sell-my-info</a>.

SPI 806: How to Not Launch to *Crickets* with Krystle Krueger

Markets took a tumble earlier this week after the first two Mag7 names reported their latest earnings reports, but with Microsoft, Apple, Amazon and Meta all on the calendar for next week, will investors get some relief? And what will semiconductor stocks watch from in those reports? Fast Money Disclaimer

Markets took a tumble earlier this week after the first two Mag7 names reported their latest earnings reports, but with Microsoft, Apple, Amazon and Meta all on the calendar for next week, will investors get some relief? And what will semiconductor stocks watch from in those reports? <a href="https://www.cnbc.com/fast-money-disclaimer/" rel="nofollow">Fast Money Disclaimer</a>

What to Expect From the Next Wave of Big Tech Earnings, and How Will the Chip Names Be Watching the Reports? 7/26/24

CNBC’s Dominic Chu sits down with Frank Cappelleri, founder and president of independent research firm CappThesis, as he breaks down how he uses technical analysis to navigate the ever-changing stock market. Cappelleri shares how charts help him find small-cap stars, ETFs poised for a breakout and more. Plus, he takes stock-specific questions from Pro subscribers.CNBC Pro Talks features one-on-one interviews with Wall Street’s top investors, smartest traders and rising stars. CNBC’s Dominic Chu finds out what makes them tick, what makes them money, and how you can follow in their footsteps. CNBC Pro Talks is a monthly interview series that’s part of CNBC’s premium subscription service, CNBC Pro. To hear the full Pro Talk interview—including specific stock picks and investment strategies—listeners can subscribe to [cnbc.com/protalks].

CNBC Pro Talks: Frank Cappelleri on charting stocks for success 7/26/24

It’s no surprise that the media is manipulative - with politics, finances, and more. They want to grab your attention and get a click. We watched a perfect example of that play out recently.   Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

It’s no surprise that the media is manipulative - with politics, finances, and more. They want to grab your attention and get a click. We watched a perfect example of that play out recently. <a href="https://bit.ly/3mB2p69" rel="nofollow">Jump start your journey with our FREE financial resources</a> <a href="https://bit.ly/3mxuhIt" rel="nofollow">Reach your goals faster with our products</a> <a href="https://bit.ly/2Y4TqQJ" rel="nofollow">Take the relationship to the next level: become a client</a> <a href="https://bit.ly/3gxyUOH" rel="nofollow">Subscribe on YouTube for early access and go beyond the podcast</a> Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

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