The Rational Reminder Podcast

Renowned author and commentator Morgan Housel discusses his latest book 'Same as Ever: A Guide to What Never Changes' on the podcast. They explore timeless principles, the importance of holding cash, challenging traditional approaches, and the value of storytelling. They also discuss the recurrent nature of once-in-a-lifetime events, the pitfalls of seeking certainty, and the complex interplay between incentives and expectations. Gain insights into forecasting behaviors, the allure of pessimism, and embracing slight inefficiencies on the path to success.

Retirement income myths are debunked and the flaws in the 4% rule are exposed in this episode. Experts discuss sequence of return risk, investing in bonds for retirees, and the evolving risk profiles of stocks. The significance of variable spending rates and the fallacies behind aggressive withdrawal suggestions are uncovered. A safety-first approach in retirement finance is advocated, along with the importance of seeking second opinions and having a trustworthy advisor.

Marketing Professor and Author, Scott Rick, discusses the psychology of tightwad and spendthrift behaviors, the impact on relationships, financial infidelity, joint and individual accounts, gift-giving, marrying for love or money, giving kids a good financial education, and more in his book Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships.

Steve Balaban, a private equity insider, discusses investing in private equity, benefits and drawbacks, due diligence, and how private equity interacts with investor psychology. The podcast also covers the science of motivation and goal setting, the power of networking, and key lessons from Justin Breen's book 'Epic Life'.

Errol Morris, Academy Award-winning film director and author, discusses the significance of storytelling, the evolution of finance, and the enigmatic nature of truth in his recently released documentary. He explores the triumph of science over human nature in financial markets, the role of data in shaping our perception of the world, and the complexities of argumentation and irrationality. The conversation also highlights the fascination with efficient markets and the pursuit of truth through collaboration and serendipity.

In this podcast, they reflect on their favorite guests and topics from the past year, emphasizing the power of purposeful decision-making. They discuss the evolving role of financial advisors, the importance of trust, and preparing children for wealth. Other fascinating topics include understanding regret aversion in decision-making, the limitations of economic theory, and exploring our future selves. They also delve into the challenge of providing high-quality personal finance information on YouTube and the puzzle of missing billionaires.

Prof. Scott Cederburg challenges traditional life cycle asset allocation in retirement planning. He discusses modeling returns, optimal allocation between domestic and international stocks, safe withdrawal rates, and the perception of volatility in investments.

Guests Mark Soth and Mark McGrath join the podcast to discuss volatility and investor behavior, the upcoming Money Scope podcast, incorporating a medical practice in Canada, complexity in estate planning, factors affecting job satisfaction, and community discussions and promotions.

Renowned expert in family wealth psychology, Dr. Jim Grubman, discusses the evolving landscape of financial wealth planning, including the definition of wealth and the hurdles faced by families adapting to elevated levels of wealth. They explore the role of parents in imparting financial responsibility, embracing cultural norms, and the changing landscape of family wealth management. Dr. Grubman also shares insights on the evolution of wealth management, from traditional approaches to transformative Wealth 3.0, and the importance of nurturing strong family relationships in the context of affluence.

Justin King, an expert in lifecycle asset allocation and retiring successfully, joins the show to discuss the optimal mix of assets in a portfolio, understanding risk tolerance, and the nine accelerators for a successful retirement. The hosts also delve into the tax implications of insurance policies in corporation ownership and the importance of actively preparing for a fulfilling retirement.