The Rational Reminder Podcast Who are you, and who do you want to be? (EP.237)
Values-Based Decisions
- Identify your personal values as a foundation for making decisions.
- Use these values to guide your financial planning and investing choices.
Uncovering True Values
- Creating life values is a major task requiring significant time and effort.
- Initial attempts often uncover less than half of one's true values, highlighting the need for deeper reflection.
Values Discovery Exercises
- Reflect on past decisions, both good and bad, to identify the values they reflected.
- Visualize your future self at different ages and consider the values you'd like to hold.
Identifying your personal values is the foundation for making future decisions. In this episode, we discuss the profound ways in which personal values impact financial decision-making and share concrete steps to identify both your strategic and means objectives. Ben candidly shares his own objectives and expands on the other considerations involved in making major decisions. We then jump to the less abstract topic of 2022 returns, providing a thorough overview of the tilts and their consequences, followed by a brief summary of an early episode with Shane Parrish. In the latter half of this episode, we are joined by Zoobean co-founder and CEO Felix Lloyd to talk about Beanstack, the tech platform for reading, and Readwise co-founder Daniel Doyon. We also tackle the slightly left-field topic of marketing from a behavioural science standpoint through the lens of Nancy Harhut’s tellingly-titled book, Using Behavioral Science in Marketing. Tune in for upcoming developments in the Rational Reminder community, and to discover how to make financial decisions that align with who you are and who you want to become!
Key Points From This Episode:
- How personal values impact financial decision-making. (0:00:25)
- How to identify your life’s values and objectives. (0:07:21)
- The significance of means objectives and strategic objectives, and how to identify them. (0:16:25)
- Ben’s strategic life objectives and means objectives. (0:18:27)
- Other considerations when making major decisions. (0:19:14)
- An overview of 2022 returns. (0:22:43)
- A summary of episode 19 with Shane Parrish. (0:28:59)
- A brief interview with Zoobean co-founder and CEO Felix Lloyd to talk about Beanstack, the tech platform for reading. (0:31:15)
- Cameron’s review of Using Behavioral Science in Marketing by Nancy Harhut. (0:43:09)
- What sells (from a behavioural science standpoint). (0:47:15)
- A brief interview with Readwise co-founder Daniel Doyon. (0:52:52)
- Summaries of recent Freakonomics, 10% Happier, and Capital Allocators (1:04:05)
- Developments in the Rational Reminder community. (1:05:30)
- Upcoming podcast guests and recent podcast reviews. (1:10:25)
Participate in our 23 in 23 Reading Challenge:
23 in 23 Reading Challenge — https://rationalreminder.ca/23in23
23 in 23 Reading Challenge on Beanstalk — https://pwlcapital.beanstack.org/
Participate in our Community Discussion about this Episode: Book From Today’s Episode:Using Behavioral Science in Marketing — https://amzn.to/3wuDnJO
Links From Today’s Episode:Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/
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Felix Lloyd on Twitter — https://twitter.com/fblloyd
Felix Lloyd on LinkedIn — https://www.linkedin.com/in/fblloyd/
Beanstack — https://www.beanstack.com/
Zoobean on Instagram — https://www.instagram.com/zoobean
Readwise — https://readwise.io/