Keep it Simple

Tune in to 'Keep It Simple' with host Adam Morris and Joey Badinger from Asset Builder to discuss strategies for building good habits while eliminating bad ones. They delve into methods inspired by 'The Soul of Wealth' by Daniel Crosby and share practical advice for achieving financial and personal goals using the SMART and EAST models. Highlights include discussions on financial planning, fitness, mental health, and the importance of intentionality in achieving long-term success.

[00:00] Introduction and Podcast Purpose

[01:39] The Concept of Make Good Easy, Make Bad Hard

[12:50] SMART Goals and the EAST Framework

[23:54] The Importance of Intentionality and Discipline

[16:25] Real-Life Examples and Applications

[24:49] Impacts of Good Habits on Health and Finances

[38:32] Mental Health Benefits and Therapy

[42:45] Final Thoughts and Encouragement

👉 Connect with Team at Asset Builder: https://assetbuilder.com/.

In this episode of 'Keep It Simple,' host Adam Morris, Janet Griffith and the team at Asset Builder, including special guest Director of Operations, Hannah Vickery, delve into the intersection of marriage and finance. They share personal experiences, advice, and techniques to help couples manage their finances effectively and reduce stress. Topics include the importance of open communication, different budgeting methods, the role of premarital counseling, and strategies to handle financial disagreements. The episode underscores the importance of being on the same financial team with your spouse to achieve shared goals while navigating life's unexpected challenges.

[00:34] Marriage and Finance: Today's Topic

[16:08] Combining Finances: Joint Accountability

[23:57] Handling Financial Stress and Goals

[31:18] Implementing Personal Budgets: The Burn Pile Method

[37:14] Choosing the Right Partner for Financial Harmony

[39:28] Common Financial Disagreements and Resolutions

[42:44] Planning for Retirement and Reducing Expenses

[53:10] The Importance of Open Communication in Budgeting

[54:05] Best and Worst Aspects of Working in Financial Services

[56:43] Final Thoughts and Encouragement for Young Investors

👉 Connect with Team at Asset Builder: https://assetbuilder.com/.

👉 Connect with Team at Asset Builder: https://assetbuilder.com/.

Ever thought about the countless variables that influence your investment decisions and how mastering the art of simplicity could be a game-changer? Join us, Jared and Adam, as we dissect Morgan Housel's enlightening book, "Same as Ever". Filled with bite-sized wisdom, this book reveals the power of long-term thinking, the beauty of focusing on constants over variables, and the potential traps of emotional investing. With Jeff Bezos' business strategy as a case study, you'll understand how these concepts work in the real world.

Life, just like history, is unpredictable - small moments can drastically alter its course. From the Revolutionary War to the sinking of the Lusitania, we illustrate how seemingly insignificant factors can have enormous impacts. Drawing from these historical events, we delve into the importance of humility when predicting future trends, particularly for investing. After all, acknowledging our inability to foresee every detail could be the key to avoiding costly financial mistakes.

In our final segment, we invite you to step back and look at the bigger picture, both in terms of your investments and life in general. We draw parallels between the roller coaster rides of the market and life, discussing the significance of managing expectations and practicing gratitude in cultivating happiness. Furthermore, we delve into the backstory of Housel's other book "The Psychology of Money," sharing how personal experiences, including a near-death experience, shaped his views on finance. As we wrap up, we leave you with a powerful story from the book that underscores the impact our financial decisions can have. Join us in this insightful journey as we navigate the often unpredictable, yet rewarding world of investing.

Gear up as we guide you through the fascinating world of financial trends, market volatility, and the simple pleasures of life, like attending a Baylor football game or organizing one's garage. We guarantee our casual yet in-depth discussion will not only enrich your understanding of asset classes and diversification but also shed light on the importance of gratitude in our lives. We'll chew over everything from fresh perspectives on investment strategies to the delights of ordering a pizza when you're worn out.

This episode is a treasure trove of insights into the performance of various asset classes in the third quarter, the volatility of markets, and the benefits of premium investing. We peel back the layers of market performance, revealing what's behind the numbers, and explore the strategy of buying and holding funds that target specific characteristics of stocks. Be prepared to question conventional wisdom as we debunk the reliability of market forecasts and underline the long-term stability of value stocks.

In our final segment, we reflect on the transformational power of gratitude. We share our thoughts on how an attitude of thankfulness can positively impact our lives and relationships. We discuss how social media has influenced our perceptions of gratitude and provide insights on cultivating a genuine sense of appreciation. Wrapping things up, we open the floor for your questions and comments. Don't miss out on this episode brimming over with thoughtful discussions, practical recommendations, and invaluable investment tips!

(00:00) Quarterly Review and Current Trends

Join us as we navigate through topics such as the current Middle East situation and the looming tax season. As we approach tax season, we share insights on how to provide a smooth, fast and easy process for our clients in the preparation of their taxes. Furthermore, we discuss the unpredictability of the markets and the multiple factors that go into the evaluation of a share price. Despite the ongoing events in the Middle East, we unravel why markets continue to rise. 

In this captivating conversation with Peter Zahan, a geopolitical strategist, we analyze the macroeconomic view of markets, economic trends, and population changes across the globe. We dig into Russia's military strategy and the necessity for them to retain land in Eastern Europe. Also, we explore how population trends in western Europe impact their economy. The conversation wraps up with an inviting suggestion to relax and enjoy a bonfire, with smores of course! 

We also explore the lighter side of life as we chat about our plans to see comedian Nate Bargatzi, the high water bill due to extreme temperatures in Plano, and our busy weekend filled with plans for pickleball. We underline the importance of taking care of oneself and avoiding injury. We further analyze the 'Four Pillars' book series by Joseph Bernstein and emphasize the importance of avoiding overconfidence when making personal trading decisions. We delve into the difference between wealth and riches, and discuss how wealth is built over time through wise investing and allowing your money to generate interest. Listen in for an enlightening conversation!

(0:00:01) - Tax Season and Market Predictability

Prepare for a journey that will arm you with timeless investing principles. This episode is set to demystify the complexities of investing as we unpack the enduring principles outlined in "The Four Pillars of Investing" by William Bernstein. We shed light on the intricate link between risk and reward, revealing why the brightest markets often yield the lowest returns, while the bleakest ones offer the highest. We also address the emotional turmoil that most investors face when grappling with the idea of higher risk for higher returns.

Take a deeper look at the fascinating world of small and large cap stocks. We scrutinize their differences and dissect the historic trend of small cap stocks yielding higher long-term returns. As we navigate through this, we also touch on the potential implications of the US holding larger equity value than the rest of the world and the possible pitfalls this might pose for US investors. Discover the indispensable role of global diversification in maximizing returns and why it's crucial for every investor. 

Surely, you've heard the phrase, "this time it's different"? We'll explore why this mindset can be an expensive mistake, drawing from the canal revolution in England as a case study. Join us as we delve into the dangers of market frenzy brought about by inexperienced investors, and how understanding the principles of security valuation can serve as your compass. We also illuminate how current market conditions may lead to a bubble and the protective shield indexing provides. Then, we delve into the universe of returns, pulling data from various indexes. Remember, understanding bear markets and staying committed to your allocation is critical for any investor. You won't want to miss this episode!

(0:00:01) - Exploring the Four Pillars of Investing

Join us as we unravel the often intimidating topic of cybersecurity, offering straightforward advice on how to keep your digital life secure. We discuss simple, effective techniques that can drastically reduce your chances of falling victim to cyber attacks. From anecdotes we've gathered from our clients to our personal experiences, we're shedding light on the reality of cybersecurity. We explore the struggle of trying to have zero digital footprint and how you can make yourself less appealing to those with malicious intentions.

Listen in as we further discuss the importance of software updates and strong passwords, two fundamental pillars of cybersecurity. We shed light on the risks of neglecting software updates and how using programs like LastPass can help you create and store unique, difficult-to-guess passwords. We also talk about "brute force attacks" and why they're a serious concern. Continuing on, we delve into measures to ensure your protection online. We touch on the importance of backing up information, using VPN services, and steering clear of unsecured Wi-Fi networks. Don't miss out on this insightful conversation that will empower you to take control of your cybersecurity!

Get ready for an insightful discussion as we explore the intriguing intersection of artificial intelligence (AI) and the stock market. We start off by examining the surprisingly strong performance of Democrats over Republicans in the stock market, and the role tech stocks play in this equation. We raise questions about potential insider trading, providing a thought-provoking angle on the information disparity between politicians and the public. This episode also delves into the attention-grabbing headlines that fuel curiosity and speculation about AI's role in the stock market.

As we proceed, we highlight the importance of cautious investing, discussing the recent surge in market strength driven by mega-cap tech stocks. The conversation steers you away from impulsive stock picks and underscores the need for comprehensive research and secure valuation methods. The discussion further illuminates the role of AI in investing, citing the East India Trading Company as an illustrative example of leveraging new technology for significant gains. From exploring the concept of diversification to understanding the investing mindset of today's youth, we leave no stone unturned in this exciting episode.

[0:00:01] AI's Impact on Stock Investing