Inside Out Money 015. All the financial hacks with Chris Hutchins
Jul 31, 2023
Chris Hutchins, host of All The Hacks and former Wealthfront and Google Ventures expert, shares invaluable financial wisdom. He advocates for automation to simplify finances and argues that renting may be wiser than owning a home for many. Chris elaborates on smart investment strategies, like leveraging Wealthfront's automated services, and highlights the benefits of minimalism in spending. He also offers tools for organization and discusses the delights of travel hacking, emphasizing that financial decisions should enhance life's experiences.
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Automate Investing
- Automate all investments to avoid decision fatigue and maintain consistency.
- Don't seek perfect portfolios; choose one aligned with your goals and automate contributions.
Renting vs. Buying
- Renting offers flexibility and avoids high transaction costs associated with buying and selling homes.
- Consider renting and strategically investing the money you save, especially early in life.
Simple Rules of Thumb
- If you won't live in a house for five years, don't buy it, rent instead.
- If you need money within five years, keep it in cash, not the stock market.