Maximizing 401k Benefits and Automating Savings

#42: Author and financial advisor Ben Carlson joins Chris to share investing, saving, and giving hacks. They discuss what you can do instead of picking stocks, the differences between how institutions invest and how individuals invest, how to assess if you need a financial advisor, short-term and long-term approaches to beating inflation, and why you should automate your giving. 

Ben Carlson (@awealthofcs) is a financial advisor and Director of Institutional Asset Management at Ritholtz Wealth Management. He is also the author of four books about saving and investing and the popular blog A Wealth of Common Sense.

Full show notes at: https://allthehacks.com/inflation-alternatives-ben-carlson

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Resources Mentioned

Connect with Ben Carlson: A Wealth of Common Sense | Animal Spirits Podcast | Twitter

Ben Carlson’s Books:

• A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan
• Everything You Need to Know About Saving For Retirement
• Don’t Fall For It: A Short History of Financial Scams
• Organizational Alpha: How to Add Value in Institutional Asset Management

Book Recommendations:

• The Four Pillars of Investing: Lessons for Building a Winning Portfolio
• The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
• What I Learned Losing a Million Dollars

Invest in real estate: Fundrise

Invest in art: Masterworks (skip the line with this link)

Roboadvisor: Wealthfront ($5k managed free with this link)

HSA: Starship HSA

Crypto High Yield Savings: BlockFi

Automate your giving: Daffy (free $25 with this link)

Fiduciary Financial Advisors: Wealth Foundry | XY Planning Network

401k Fee Analyzer: TD Ameritrade 401k Fee Analysis

Full Show Notes

(00:11) Introduction: Unveiling Ben Carlson

(01:22) Shifting Away from Stock Picking

(04:32) Exploring Beyond Stock Picking: Viable Alternatives

(09:19) Preparing for Stock Alternatives: Key Steps

(11:36) Embracing Investment Rules: A Crucial Approach

(16:00) Institutional Insights: Valuable Investment Lessons

(18:19) Diving into Asset Allocations and Roboadvisor Reliability

(21:58) Assessing the Need for a Financial Advisor

(29:02) Retirement Account Strategy: Maximization Dilemma

(33:36) Optimal Cash Placement for Short-Term Needs

(40:53) Rational Leverage Usage: Weighing the Pros and Cons

(43:52) Navigating 2022 Inflation and Long-Term Tactics

(46:08) Treasury Inflation-Protected Securities: A Hedge Against Inflation?

(48:51) Simplifying Finances Beyond Investments: Positive Changes

(52:22) Budgeting for Joy: The "Fun Money" Allocation

(55:05) The Power of Saving: Compelling Statistics

(57:37) Ben Carlson’s Recommended Reading List

(60:44) Staying Connected with Ben: Online Links

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