"Renting versus owning a home, the biggest financial decision most people make in their life. So, we're going to talk about all of the unrecoverable costs [music] of owning a home, including property t..."

"What I think, and the approach that I've always tried to take, is what can we take from academic literature, very smart people who spent a lot of time thinking about these things, what can we take fro..."

"And how much of this game of investing, making money, is comes back to psychology? So, I like to say investing's been solved. We're going to use index funds. That's it. The hard part is actually doing..."

"[clears throat] we've got some props here for some demonstrations we're going to do. Could you just give explain to me the high-level of what these things are on the table and the different frameworks..."

"start? Is it in the psychology? Is it one of the one of these frameworks? Is it somewhere else? Is there a background understanding of the economy one needs to to get going? That is a great question. ..."

"And you've got the the 10 money mistakes people make here. Can you run me through those ones, and just let me know if any of them is particularly pertinent or interesting that we should dive deeper in..."

"people to think about how rare their skill stack is. It's not something we're taught. And then also, one of the things I noticed, I used to work in a a biotech company for a little while while I was i..."

"Okay. How many people in the general public do you think have actually thought about what a good life for them looks like? Not enough. Not many. I think everyone's people are so busy with their day-to..."

"make? Yeah, so this is related to what we were just talking about, but it's it's overspending on the wrong things. Okay. When you think about what is a good life for you, and you realize if you realiz..."

"Number five might be one of the bigger ones, which is not taking investment risks. And that's really the stock market has delivered these incredible long-term returns, and on expectation, it should co..."

"What about buying a house? Is that a good investment? I wouldn't consider buying a house to live in an investment. It's sort It's sort of is. You get an asset, but you're really you're buying an asset..."

"average young person, let's say someone's under 25 years old, they should, and they're thinking about building their wealth over the long term, do you think they should buy be buying a house as an inv..."

"things that's just impossible to measure in because it's so intangible, but like the psychology of feeling like you can't easily move. And I see this a lot actually with people that apply for jobs in ..."

"Are homeowners happier than renters? Mhm. Depends how you slice the data. If you control for property types and neighborhoods and all that kind of stuff no they're not. If you don't control for those ..."

"any particular group of people that you think should be buying a house? Yeah, so people who are very risk-averse, people who want to stay in one place for a very long time, because they have a family ..."

"conversations about buying a house or not buying a house, one of the things I see a lot in the comment section is people um sharing their case studies of them buying a house 30 years ago, and now it w..."

">> is this is the thing. This is the example. Uh and then everyone has the family member that bought a house for $70,000 and sold it for a million. I'm just going to read you the top four comments, an..."

"vetting our landlords and only renting from professionals. And then the other thing that we did, which addresses at least in Canada, addresses one of the other points there, is we would sign long leas..."

"on their life and has decided that yes, it it is in fact true that it has a had a profound psychological impact, of course that person should own a home. Of course they should. Is it Is it true for ev..."

"So are you saying that the future is not going to be as like as the past? Uh for this I know the Canadian market best, but I think these it generalizes outside of Canada. Where we've seen record decre..."

"Yeah. Missing tax planning opportunities. This is something I think I think people just don't think enough about, but it's not terribly complex, but there are some simple things that people can do to ..."

"the things people don't talk about enough is all the ways that rich people do things to avoid paying tax. They have like they hire people so that they don't have to pay tax. I hear about all these cra..."

"So if I have a million dollars of Facebook stock, I can go to a bank and get 500k in cash loaned against that stock without having to sell it. And then on that 500k, I have no tax to pay. And I can ju..."

"Much of the reason most people haven't posted content or built a personal brand is because it's hard and it's time-consuming. And we're all very very busy. And if you've never posted something before,..."

"Probably a lot of people. But the financial advice profession has a lot of challenges. We're chatting about the the sales nature of the financial services industry. And I do think that's a big problem..."

"kind of a similar discussion to what we just talked about, but it's it's missing out on estate planning. What does that mean? Figuring out how your assets are going to be distributed to the people tha..."

"everybody should write a will? Everybody that has any dependents should write a will. I've heard a an estate planning lawyer joke that everybody has a will. But it's the government's default will, whi..."

"prenups, number nine is about who you marry. Yeah, this is this is a tough one. It's a tough one because I mean, this is front of mind for me because as you can see from these photos, I just I just uh..."

"there may be some sort of thrill to the to the differences um initially. But tightwads and spendthrifts as they go through their marriages do tend to be less satisfied in their marriages and have more..."

"get a prenup? Going back to what you said earlier, where you said you you If you don't write your own, the government will give you theirs. Yeah. Which just to simplify that if you don't write your ow..."

"Anything else to say on this this point of marriage incompatibility? The academic research on this does have a a short quiz. I don't know if we have it kicking around anywhere here. I think this is a ..."

"I can be. You said B, which is I balance my spending and saving pretty well. Um I would say I'm C again. But again, the caveat here is I actually don't Hmm. I don't spend money on stuff anymore. I don..."

"We we do have one more Okay. card in the mistakes, which is under insuring catastrophic risks. And I think that's one, particularly for people who are not currently financially independent, that's rea..."

"You made a video called the most controversial paper in finance. Yeah. What paper was that? That was a paper we we didn't have it here, but that was a paper on life cycle asset allocation. What does t..."

"products where they do that that strategy that I that I just described inside of an ETF. They charge usually a higher fee. And these are being marketed really heavily to investors on the premise that ..."

"can do is build like a bigger company without actually hiring like one. But, the problem we all face is that most companies don't have every skill in house. So, when I look at the businesses seeing re..."

"foot of Mount Everest and looking upwards. The way to accomplish your goals is by breaking them down into tiny small steps, and we call this in our team the 1%. And actually, this philosophy is highly..."

"you have a big goal in mind and you need a framework and a process and some motivation, then I highly recommend you get one of these diaries before they all sell out once again. And you can get yours ..."

"responsibility now than they've had in the past, but they also have better tools than have historically been available. 30 years ago, we we were just starting to get low-cost index funds proliferating..."

"sustainable energy. I should invest in that." >> Yeah. But, you're right. They created that when it was hot. So, you should have invested, I guess you're saying, just invest in the FTSE 100, the S&P 5..."

"in savings in cash, and you had to be decisive. You don't know the nuance and the the detail of their life. You don't know their PERMA framework necessarily. But, your job was just to make the money i..."

"vehicle, where people who believe that the world should be a certain way or believe that government's role in money should be a certain way, they can invest in Bitcoin and feel really good about it. I..."

"silent. It is a solemn moment, and no man can feel indifference. Of our own troubles, no man can see the end." An apt description of things, very apt. And that was on October the 10th, 1847. A magazin..."

"and your situation. Uh but generally speaking, if we just look at what what what do the data say about borrowing money to invest? It's not It's not a terrible idea. One of the things we haven't talked..."

"decreased because you needed fewer people to do all the bank teller stuff cuz you had the ATMs. And banks opened more branches because it cost less, and their customers liked that. And the end result ..."