Part Two.

Michael Sakraida, the Money Philosopher and author of Money, Balance and Joy: Improving Your Life Story, continues to unravel the art of balancing wealth and happiness. Spoiler: wealth is about much more than just money.

In this episode, Michael introduces his three-part happiness equation—monetary wealth, time wealth, and social wealth—and how aligning them leads to a fulfilling life. He calls out Wall Street’s blind spots, takes on risk tolerance myths, and pokes fun at the “Financial Media Smut Club” for ignoring the emotional side of money.

Ready to break free from the usual money clichés? Tune in for bold insights, a touch of humor, and a fresh perspective on what financial success really looks like.

Key Highlights of Our Interview:

“True financial independence isn’t about working for money; it’s about working for joy. And when you’re gone, it’s the legacy—both financial and non-financial—that really counts.”

When ‘Aggressive’ Turns ‘Anxious’: The Flawed World of Risk Tolerance Tests

“Advisors tick the ‘aggressive’ box, but when the market drops, those same clients can flip out. The problem? Risk tolerance tests don’t dig into the emotional reality behind investing. They aren’t built to handle the emotional rollercoaster of real-life investing.”

Financial Media Smut Club: Why Most Advice Misses the Mark

“Too many financial articles focus on clickbait rather than offering real, actionable insights. The problem? Writers often don’t understand what they’re talking about.”

The Problem with Financial Influencers: Why They Should Be Regulated or Shut Down

“If financial advisors need compliance approval for every email, why do these so-called financial influencers get a free pass to spread advice with zero oversight?”

Financial Advisors: If You’re Not Asking These Three Questions, You’re Doing It Wrong

“Before any numbers come into play, financial advisors should be addressing the emotions tied to wealth: how you got it, what you want to do with it, and your past experiences with Wall Street.”

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