Unfortunately, most of what we consider to be financial planning in the world today is just product sales disguised as financial advice. Today, Paul shares two tactics advisors use to try to sell their investment products that you need to know before you walk into a planning meeting. Listen along to hear how sales people can twist things that you know are true to sell you something that you would never agree to buy if you were more educated about the product. Later in the episode, Paul feels bad for investors who got overly excited about real estate and now own a property that’s not meeting their expectations.

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Risk is a topic that quickly puts the average investor in a defensive position. Are you taking enough risk? Are you taking too much? The investment industry loves to use risk to push you toward certain “low-risk” or “high payout” products. Today, Paul shares about the investors who stocked up on 30-year bonds because they had a long track record of being “safe,” only to be slapped by unexpected rising interest rates. Listen along as Paul teaches what you need to know about risk and investing and why staying uneducated is a risk you shouldn’t be okay with.

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The internet can feed you endless information to confirm whatever thoughts and insecurities you bring to it. If you’re worried about your financial well-being, there are endless tips and tricks to help you improve. If you’re worried about the state of the world, there are 24-hour news cycles confirming your fears. All this information makes it almost impossible to relax and think clearly. Today, Paul encourages investors that there is a way to find peace and relax about money in today’s chaos, but it may involve being less hungry for information and just unplugging this endless source of information. Later in the episode, Paul brings a study that shows what cognitive dissonance is and why no one is immune to it.

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We have to change the way we think about digital media to get healthier and see the world for what it is. Paul brings up a book called *Our Digital Soul: Collective Anxiety, Media Trauma and A Path Toward Recovery* by Jennie Black and Bob Hutchins that impacts digital media on our minds and bodies. Paul shares that when you mix capitalism and journalism the result is a country that shares more negative news stories than most other countries in the world. Later in the show, Paul talks about how robotic portfolios have been trained to stock pick and market time and leave investors in the dark about what’s going on.

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Paul gets an email from an investment firm titled “Make Sure Your Investment Portfolio Isn’t Collecting Dust.” Paul talks about the difference between selling and buying as a means to rebalance your portfolio and market timing, which is what this email is recommending. Paul’s advice: Don’t be afraid of a little dust on your portfolio because buying and selling investments to keep your portfolio “fresh” is a strategy that works for investment firms, but doesn’t work for you. Later in the episode, Paul explains what full insurance coverage really looks like and how insurance works to protect your savings in a similar way that a moat protects a castle.

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Paul shares a conversation with an entrepreneur who wanted to get their retirement started. Listen along as Paul shares the most common retirement options for people who are self-employed, as well as options for the entrepreneur who has just a few employees. Paul breaks down specific tax benefits, contribution limits, and regulations of these retirement accounts and encourages people who are self-employed to start investing. Later in the show, Paul talks about funds marketed as “Total Market” funds that unsurprisingly ignore entire sections of the market.

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Part of being a confident investor is knowing your own biases and how they affect your outlook on the word. Today, Paul opens up with a conversation about geo-political tensions to talk about “hindsight bias,” a phenomenon where—after the event happens—your brain convinces you that you it was going to happen all along. Paul explains it’s better to be patient and trust the process and instead of letting hindsight bias lead you into market timing. Later in the episode, Paul shares the most recent PWI newsletter that addresses some of the most pressing questions from investors and investor anxiety.

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Everyone thinks of Warren Buffett as a legendary stock picker, but he doesn’t see himself that way. Paul brings to the show an interview where Buffett shares what he believes the secret to investing success is. Listen along to hear Buffett share his perspective on financial news and why he doesn’t pretend to know what will happen to companies in the coming weeks, let alone twenty years from now. Later in the episode, Paul shares Warren Buffett’s opinions on Bitcoin.

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