Michael Kinsman: Basic financial literacy is not taught in every public high school in america. He says ordinary people are perfectly capable of managing their own money effectively and out performing the vast majority of professional money manters. So so you can. pay nothing in sales charges and fees and brokerage commissions, and you can do it in 20 minutes a year, or a and have no pleasure at all.
In this special episode of the show Shermer and Green discuss one of the most important and yet poorly understood concepts in modern society: money and why it matters. They discuss: the origins of money, and how to make it work for you, how the stock market works, the power of compound interest, the secrets of millionaires, the difference between a IRA, 401(k), and a Roth IRA, hedge-fund managers and investment advisors, the relationship between risk and reward, the relationship between saving and spending, the problem with free market capitalism, money, happiness, and meaning, and the role of luck and contingency in how lives turn out.