3377: Money Stress: Why We Use Money to Feel Bad About Ourselves by Dr. Lisa Firestone of Psych Alive
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3377:
Dr. Lisa Firestone explores how our emotional history, especially early experiences with money, shapes our current financial stress and self-worth. She reveals how the "critical inner voice" hijacks our judgment, fueling guilt, anxiety, and self-sabotage, and offers practical tools for developing healthier financial beliefs and habits.
Read along with the original article(s) here: https://www.psychalive.org/money-stress-why-we-feel-bad-about-money/
Quotes to ponder:
"The critical inner voice can cloud your judgment when it comes to money, because you are no longer making choices based on real, practical information."
"Don’t avoid your fears or try to self-soothe. Neither buying something you can’t afford nor denying yourself any little luxury will truly relieve you."
“The critical inner voice often creates conflict between couples when it comes to money.”
Episode references:
Stress in America survey by the American Psychological Association: https://www.apa.org/news/press/releases/stress
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11:26
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11:26
3376: How Do the Wealthy Invest? by Nick Maggiulli of Of Dollars and Data on Building Wealth Mindfully
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3376:
Nick Maggiulli unpacks how wealthy individuals allocate their assets, revealing that investment strategies often depend more on access and status than on performance alone. While ultra-wealthy investors lean heavily into alternatives like private equity and hedge funds, this typically happens after wealth is accumulated, not as the path to it, offering a crucial reminder to focus on what works for your own situation rather than mimicking the elite.
Read along with the original article(s) here: https://ofdollarsanddata.com/how-do-the-wealthy-invest/
Quotes to ponder:
"Try not to forget that the wealthiest 10% of Americans own nearly 90% of all U.S. stocks!"
“Not all investing is about money, sometimes it’s about status too.”
“There are many ways to preserve and grow your wealth. The hard part is finding what works best for you.”
Episode references:
Michael Kitces: https://www.kitces.com
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11:57
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11:57
3375: Should Cash Be Part of Your Emergency Fund? By Honey Smith with Get Rich Slowly on Smart Emergency Planning
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3375:
Honey Smith explores the practical and psychological benefits of keeping physical cash as part of your emergency fund, especially in times when digital access to money may be disrupted. Weighing the pros and cons, from peace of mind and preparedness to lost interest and security risks, she offers clear guidance on how much cash to keep, where to store it, and why doing so could be a smart addition to your financial safety net.
Read along with the original article(s) here: https://www.getrichslowly.org/should-cash-be-part-of-your-emergency-fund/
Quotes to ponder:
"You'll never be out of money when you need it."
"Cash can't be garnished like a paycheck or bank account, and it isn't easily traced."
"If you lose the money, it gets destroyed, you are robbed, etc., you may have very little recourse."
Episode references:
Mint: https://mint.intuit.com/
Capital One 360: https://www.capitalone.com/bank/savings-accounts/online-performance-savings-account/
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9:41
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9:41
3374: [Part 2] Rethinking the 4 Percent Safe Withdrawal Rule by Fritz Gilbert of The Retirement Manifesto
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3374:
Fritz Gilbert outlines three key adjustments to improve the sustainability of retirement withdrawals in today’s uncertain market environment: lowering the withdrawal rate to 3.3%, adopting a dynamic spending strategy tied to market performance, and increasing international equity exposure. These practical shifts help retirees better manage risk and longevity while maintaining spending flexibility.
Read along with the original article(s) here: https://www.theretirementmanifesto.com/rethinking-the-4-safe-withdrawal-rule/
Quotes to ponder:
"Being willing and able to adjust your spending based on actual market returns has been proven to increase your statistical chances of not outliving your money."
“Run the numbers. Be safe out there.”
Episode references:
Vanguard Total International Stock Index Fund (VTIAX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vtiax
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11:10
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11:10
3373: [Part 1] Rethinking the 4 Percent Safe Withdrawal Rule by Fritz Gilbert of The Retirement Manifesto
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 3373:
Fritz Gilbert challenges the conventional 4% safe withdrawal rule, arguing that its simplicity may be dangerously outdated given today’s market conditions. He outlines key concerns about relying on historical data, inflated equity valuations, and rising interest rates, and hints at three practical adjustments he personally uses to reduce risk in retirement spending.
Read along with the original article(s) here: https://www.theretirementmanifesto.com/rethinking-the-4-safe-withdrawal-rule/
Quotes to ponder:
"Bond prices are inversely related to interest rates, so as rates go up, bond prices go down."
"Assuming a minimum requirement of 30 years of portfolio longevity, a first-year withdrawal of 4 percent, followed by inflation-adjusted withdrawals in subsequent years, should be safe."
"If you’re holding 60% stocks and 40% bonds, it’s possible that you could see decreases in both asset classes."
Episode references:
GMO Forecast via Wealth of Common Sense: https://awealthofcommonsense.com/2021/10/the-worst-stock-and-bond-returns-ever/
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About Optimal Finance Daily - Financial Independence and Money Advice
Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.
Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals.
This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future.
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