When you find yourself becoming overly obsessed with a given number, take a step back and zoom out. What is at the heart of what you're trying to achieve? You're trying to build a financial life in which you have more choices, more freedom, more flexibility. That's the why. And be careful not to conflate the broader purpose with the specific number. We live in a world of data overload. There is more information flying at us than our brains can reasonably process. we need to filter.
#393: Chuck Jaffee is a forty year veteran financial journalist who regularly writes for the Wall Street Journal and is also a nationally syndicated financial columnist. He discusses how money and investors' attitude towards investing has changed over the last few decades.
00:44: Introducing Chuck Jaffe
03:05: How people interacted with the market in the 1980’s
06:50: Dealer and liquidity risk when investing in the market
09:23: How the environment 40 years ago impacted investor psychology
12:53: Long term impact of Black Friday, the worst market crash experienced by any living investor
16:10: Discussion of fund options that are more illiquid and can sell at discounts
18:04: The combined influence of access real time data and the ability act in real time
28:31: Moving away from employee supported retirement plans
29:00: The difference between financial education and financial literacy
31:26: Chuck’s take on the 4% rule
50:16: Portfolio and personal optimization
For more information, visit the show notes at https://affordanything.com/episode393
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