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Watch as everyday people tackle basic financial knowledge questions and discover how much we all still have to learn about money! This eye-opening street quiz challenges participants on Asia's oldest stock exchange, the meaning of SIP, and what SEBI actually stands for—with surprisingly honest responses. Perfect for anyone looking...

48,819 次观看 • 1 年前 •via X (Twitter)

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Brian Preston and Bo Hanson on when financial advisors actually make sense: Asked whether anyone should hire a financial advisor if investing is "really as simple as just buying an index fund consistently," they push back on the framing itself. "Buying an index fund is just one part of the financial planning process. It's the investment part." They're quick to admit that most people don't need to pay a professional: "We don't think that everyone needs a financial advisor with all the information out there on podcasts and YouTube channels and books and blogs. There's so much great free information out there that a lot of people can self-manage for a long time." So when does hiring an advisor actually make sense? They break it down into three specific scenarios: 1. The gravity of your decisions becomes uncomfortable. "If I make a 10% mistake on $10,000, it's not going to change my life. If I make a 10% mistake on a million dollars, well, now I'm starting to impact my livelihood. Now, that might be more than I save in a year, more than I make in a year." 2. Your life becomes financially complicated. "You used to have a two-page tax return and now you have a 100-page tax return or you might have options and RSUs and ESP or you are wondering about what your estate documents should look like… You're an expert in your field in your vocation but you don't know all the financial planning stuff." 3. You have the smarts but not the time. "Maybe you're super super smart and you can do it on your own. And the complexity doesn't even really frighten you, but what you found is you just don't have time to put the energy and effort and attention into it that you would like to. And so naturally, because you have all these other things going on, personal finances falls on the back burner." The common thread? Clients reach out wanting a second set of eyes from someone who has navigated their next stage many times before: "I want someone who's done it a hundred times so they can tell me, 'Hey, what are the things to look out for? What are the pitfalls I should have?'" But if you're early in your career, the advice is refreshingly direct: "It's not super complicated to figure out, hey, I need to make a good income, live on less than I make, follow the financial order of operations, put my money to work, and every dollar that I can save is going to be way more valuable going into my portfolio or funding my financial goals than paying a financial advisory fee."

Big Brain Investing

15,169 次观看 • 2 个月前

Me: I discuss in the book—it refers to the state where I know something, you know something, I know that you know it, you know that I know it, I know that you know that I know it, and so on ad infinitum. So it differs a bit from the conventional usage, which just refers to something that everyone knows. Here, everyone has to know that everyone knows. Times Radio Interviewer (Daniel Finkelstein Daniel Finkelstein): Can I use this with reference to the interview that I did yesterday with my brother? My brother’s a professor at City University; he’s president of the university, and there’s a campaign at the moment going on against one of their professors who was in the Israeli Defense Forces in the 1980s. We were having a discussion about how the university was standing up for the free speech of its staff, and I’d begun to wonder, as I went home reading your book on the tube, whether I’d made a big mistake—because the protest against this professor is really just a coordination exercise, isn’t it? And maybe I’d aided it by talking about it. Me: Oh yes—protests are coordination exercises. They’re designed to make private knowledge common knowledge. So, in a repressive regime, everyone may know that they despise the government, but because criticism of the government is punished, people might keep their opinions to themselves, with a result that they really don’t know what their fellow citizens think. Each one might think that they’re the only ones that are disgruntled, and so they can’t fear standing up to—they fear standing up to oppose the regime, because they can be picked off one at a time. If everyone were to protest at once, no government has the firepower to intimidate all its citizens at once. In a public protest, people can see other people there, and they know that the people there see other people there, and that can give them the strength and numbers to oppose the regime—sometimes by literally storming the palace, or sometimes just bringing the machinery of the state to a halt through work stoppages. But the crucial thing is that they are coordinated. They can only be coordinated if everyone knows that everyone knows that they hate the regime. Daniel Finkelstein: I suppose that social media is making people—is increasing the stock of common knowledge. We’re all much more aware of what other people like us, in particular like us, know, and we also know that other people know it, and so on, as you put it, and that makes people have more common knowledge. It’s not making us happier though; maybe we’d be better with less common knowledge? Me: Social media are making us more connected within certain circles—that is, those who are receiving the same texts and feeds that we are. It reduces the pool of, or shrinks the largest pool of common knowledge, namely the whole country, which may have been accessible in a day in which, say, in the United States there were three networks, or in Britain everyone was listening to the BBC. And yes, it probably doesn’t make us as happy, because when everything is public, it means that your reputation is on the line for anything you say or do. It means that since social media allow us to generate common knowledge, not just receive it like in the old days, it means that attacks on people’s reputation can be common knowledge, which means that it’s all the more painful for people on the receiving end of the attack. It may have something to do with the fact that in certain demographics—especially young people whose lives increasingly are online—that there’s that much more social competition, opportunities for gossip and ostracism and demeaning comments, and so on. When Everyone Knows That Everyone Knows . . .: Common Knowledge and the Mysteries of Money, Power, and Everyday Life:

Steven Pinker

21,547 次观看 • 6 个月前

Ready For Your Jaw Hit The Floor? This woman heard Jamie Dimon, the CEO of JP Morgan, the largest bank in America on the Wall Street Journal’s podcast What she heard was so “f*cking out of touch” with America she had to stop what she was doing & make this video He said this about America: Question asked to him, “As the chief exec of America's biggest bank, you have an unrivaled insight into the financial health of the US consumer. What are people doing with their money right now?” Jamie Dimon’s response “Yeah, you have to look a little bit in context. The consumer's in pretty good shape right now. The consumer has, you know, unemployment under 4% has been there for two years. They still have excess money from COVID. — They're still spending it down. Housing prices are up, stock prices are up, jobs are plentiful.” Creator: “I'm sorry, what? The stimulus checks, the ones that went out in 2020 and 2021, three and four years ago, we're still spending it down? Who is he talking about? People are not doing well. This country is literally unaffordable. Child care, groceries, you've got colleagues out here telling us to eat fucking cereal for dinner. Everything is up in price. Even for those who are making ends meet and are able to still save, we have to be conscious as fuck to where you're putting your money because nothing is at a good price. What does he mean the consumer is doing well? Like these are the biggest decision makers in our financial systems. These are the people who work with Congress and who are talking about how do we create like a soft landing of inflation and He thinks we're doing okay. Like, guys, this is scary. I mean, it's been f*cking scary. Let's be real. No one's surprised” The CEO of the largest bank in America still thinks you have money from your Covid checks…. It’s almost unfathomable how out of touch with reality these people are.

Wall Street Apes

2,281,086 次观看 • 2 年前