AI is not new and financial mis-education is rife. These are two ideas that form the foundation of this episode, which features insights from Ben Felix, Mark McGrath, and guest speaker Anthony Walsh. To start our conversation, we explore the history of artificial intelligence and what it might mean for the future and beyond. During this Mark to Market segment, Mark McGrath shares his experience of owning property and becoming a landlord before we look back on Episode 155 with Don Ezra, where he revealed his thoughts on planning for life after work. Anthony Walsh, author of People Are Lying To You About Money joins us to discuss his efforts to remedy the lack of financial literacy among everyday people, how he approaches financial planning as a risk-averse person, and his move from lean FI to Coast Fi. He also shares his thoughts on the relative value of money, the importance of planning according to financial wellness and health, and more. Join us today to hear all this and so much more!
Key Points From This Episode:
(0:04:07) The cycles of AI development, excitement, and disappointment in technological history.
(0:15:01) How technology bubbles impact investors and why investing in revolutionary technology is a questionable strategy.
(0:18:50) The paradox of skill and how it applies to investment strategy.
(0:23:40) Mark to Market Segment with Mark McGrath on real estate and rentals.
(0:34:50) Looking back on Episode 155 with Don Ezra on planning for life after work.
(0:37:03) Introducing today’s guest: Anthony Walsh, who wrote People Are Lying To You About Money.
(0:40:17) Four types of lies people tell about money and why most people are financially illiterate.
(0:48:46) How Anthony navigates financial planning as a risk-averse person.
(0:53:25) What motivated his move from Lean FI to Coast FI and the relative value of money.
(0:55:10) The importance of planning according to financial wellness and health.
(0:57:19) The after-show; shows and series your hosts have been watching and a book recommendation.
Books From Today’s Episode:
Irrational Exuberance — https://www.amazon.com/Irrational-Exuberance-3rd-Robert-Shiller-dp-0691166269/dp/0691166269/
People Are Lying To You About Money — https://www.amazon.com/People-Are-Lying-About-Money-ebook/dp/B0BC9M5QQT
Bubbles and Crashes — https://www.amazon.com/Bubbles-Crashes-Boom-Technological-Innovation/dp/0804793832
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/
Shop Merch — https://shop.rationalreminder.ca/
Join the Community — https://community.rationalreminder.ca/
Follow us on X — https://twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on X — https://twitter.com/benjaminwfelix
Cameron on X — https://twitter.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Mark McGrath on X - https://twitter.com/MarkMcGrathCFP
Mark McGrath on LinkedIn - https://www.linkedin.com/in/markmcgrathcfp/
Anthony Walsh on LinkedIn — https://www.linkedin.com/in/asw383/
Episode 155 — https://rationalreminder.ca/podcast/155
Episode 268 — https://rationalreminder.ca/podcast/268
Episode 244 — https://rationalreminder.ca/podcast/244
Reasons to Avoid Index Funds — https://www.youtube.com/watch?v=fvGLnthJDsg
Episode 307 - How Much Life Insurance Do You Need?
Episode 306 - Wei Dai: Fighting for Every Basis Point
Episode 305 - Is Private Credit Special?
Episode 304 - Budget 2024: The Capital Gains Inclusion Rate
Episode 303 - Scott Galloway: The Algebra of Wealth
Episode 302 - Michael Green: Market Efficiency Is Not The Question
Bonus Episode - Prof. Meir Statman: A Wealth of Well-Being
Episode 301 - Optimal Government Pension Claiming
Episode 300 - Abby Sussman: Financial Judgment and Decision Making
Episode 299: The Most Important Lessons in Investing
Episode 298 - Randall Stutman: Admired Leadership for Financial Decision-Making
Episode 297 - Do Stocks Return 10-12% On Average? & Zero to Millionaire with Nicolas Bérubé
Epidose 296 - Adam Alter: The Anatomy of a Breakthrough
Episode 295 - Home Country Bias, Seg Funds, and Todd Rogers on Writing for Busy Readers
Episode 294 - Dan Harris: 10% Happier
Episode 293 - Eric Balchunas: Spot Bitcoin ETFs
Episode 292 - Rob Copeland: Ray Dalio and Bridgewater
Episode 291 - The Quant Winter, and is Canada Pension Plan a Scam?
Episode 290 - Morgan Housel: Same as Ever
Episode 289 - Retiring Retirement Income Myths with the Retirement Income Dream Team
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast