New Episode Of Long Game Podcast With Nick Maggiulli

I know, I know, this is a week early.

This is not my normal newsletter, that will still be dropping next week.

But I had to send one to share the podcast episode we just dropped today with the one and only Nick Maggiulli. He is one the best writers and content creators in the space and everyone will learn something from this episode. Here are 26 topics we talked about in this one episode (click this link to go listen now ):

1. Why you should focus on your career and income over investments early on
2. Flexibility of savings and how people view it statically but thats not how the world works?
3. The idea of diminishing marginal return with money over time
4. The biggest lie in finance - you can get rich by cutting spending
5. Selling your time, why is this not necessarily the best approach long term? (time is not scalable)?
6. Why is the ultimate goal is ownership
7. Guilt with spending and how to overcome it
8. The 2x rule - Spend/invest same amount?
9. How do we maximize fulfillment when it comes to spending??
10. “Ultimately, you are the one that must figure out what you want out of life. Once you do, then spend your money accordingly. Otherwise you might end up living someone else’s dream rather than your own”
11. Lifestyle creep - so hard to decide on what is okay and what is not. How can you limit this?
12. Why should people not invest for short term goals??
13. The 4% rule for retirement
14. There are many ways to invest for the future and stocks has to be the most popular. Why do you prefer index funds and ETF’s over individual stocks??
15. You said you use ? funds. I think this would surprise people since most think complexity and success go hand in hand with investing. Why is simplicity good?
16. How do you see bonds as a part of a portfolio in the future??
17. Battling emotions with individual stock picking and why it makes it so tough
18. How just 4% of stocks from 1926–2016 created all the excess return for stocks above U.S. Treasury bills
19. As Geoffrey West calculated, “Of the 28,853 companies that traded on U.S. markets since 1950, 22,469 (78 percent) died by 2009.
20. Why it is so hard to tell if you are good or lucky at picking stocks
21. Lump sum vs dollar cost average from a bucket of money. What is better??
22. People are always looking to get a return on every dollar, and you talk about whether you should put side cash in treasury bills? What are you thoughts here? What about using stablecoins instead of treasury bills??
23. Why should people not wait to buy the dip??
24. How can an investor best mitigate risk??
25. Holding cash for a market downturn is not a wise idea, but moving extra cash into the market when it is low is good? How do we manage both of these ideas that almost contradict themselves??
26. Why should people not max out their 401k first??

Go check it out!