The Mind Money Spectrum Podcast

Slack in the system can help manage the anxieties modern technology creates in our lives. Trishul spends most of his day on maintenance like sleeping, eating, exercising, and raising kids, and by the time he takes care of everything required just to function there is not much time left. And he is already financially independent. We tend to think money is the main constraint on our time, but even w...

What are the non-financial aspects you need to plan for five years before retirement? Retirement isn’t the end. It will last decades, and five years before you retire is when you should start thinking about what you actually want that life to look like. Most people focus on what they’re retiring FROM, but the better question is what are you retiring TO? When you start thinking about your ideal lif...

You're already won. It's time to take some risk off the table. Five years before retirement is when real planning begins. This is the time to shift from pure growth to an income strategy, reduce sequence of returns risk, and design a withdrawal plan that supports your lifestyle. We’ll cover portfolio transitions, withdrawal rates, and decumulation strategies so you can retire with confid...

How does a shrinking population affect the stock market? Stock market growth comes from economic growth plus leverage. Economic growth comes from population growth plus productivity growth. Population growth comes from fertility rates and immigration. But what happens when a population stops having children? What does that mean for the economy and, ultimately, the stock market? Aaron and Trishul w...

Trishul sold his New Jersey rental property, while Aaron is keeping his San Diego rental home. Why? Real estate has delivered strong returns for generations, but Trishul believes the dynamics that made it successful are changing and won’t necessarily benefit future generations. Aaron pushes back, arguing that when investors focus on “location, location, location,” real estate can still play an imp...

The economy is expanding, yet we aren’t creating new jobs. What does that mean for the next generation? For most of economic history, rising GDP has gone hand-in-hand with hiring. But AI and advanced technology are breaking that pattern, letting companies grow without adding workers. In this episode, two financial advisors discuss how to help children prepare for adulthood in this environment and...

If your child has a free ride to multiple universities, how would you help them decide which school and major? Two financial advisors try to separate the value of higher education from all the ancillary benefits of college. If every course lecture is available online for free, should college cost so much? Are the fuzzier benefits worth the tuition and room and board? Would you be better going to N...

What recommendations would you give a high schooler to prepare them for their working career? Aaron starts with the question of what college major would you recommend to a high schooler to prepare them for their working career? Trishul immediately questions whether college is even worth it. If both agree that entrepreneurship makes the most sense, how do you encourage teenagers to develop the nece...

Financial planners use the seasons to guide which annual topics to focus on. Managing all your financial tasks can feel daunting and overwhelming. Good financial planning helps identify the priorities that need to be taken care of first. It also uses the seasons and various deadlines as themes for deciding which topics to work on. By taking one step at a time, it’s not long until your entire finan...

Aaron shares the story of how his family stretched their vacation just a little too much. They added a few days to fit in Padres games or save money on flights. But there came a point they just wanted to sleep in their own bed and walk the dog. Using the life planning exercise of your ideal day, week, and year can help design a routine that you enjoy and make better intentional decisions for your...

What can you set up today that if you forget about it, you are better off a year later? Maxing out your 401k contribution and investing in stocks has the largest impact on your life for minimal effort. Aaron and Trishul go through other ways that setting up automation can provide significant benefits for your future self. From bill payments to investment contributions, automating your finances rem...

In 2024, tech stocks were up, while layoffs were also up, leading to a general concern among tech employees.  Tech employees saw their incomes rise dramatically from their equity compensation, but the specter of layoffs meant most people were still concerned. Aaron and Trishul discuss some of the potential reasons behind this dichotomy and how to help people deal with the fear. A healthy cash rese...

The math behind how quickly savings and investments can achieve financial independence. Trishul re-creates the spreadsheet he used to calculate his pursuit of FIRE twenty years ago. He begins with simple time value of money calculations and walks through how increasing savings rates and different investment returns dramatically impact your path to financial freedom. Aaron brings the math to life w...

Safe withdrawal rates often lead to having more money than you need. What then? Trishul achieved FIRE and then built a business that now sustains his lifestyle. He knows he's on track to have more money than he needs. Aaron and Trishul discuss how it feels to be in this position and what to do next. Adjusting to this new phase can take years—and maybe it’s okay if spending doesn’t increase. E...

Whether the stock market is up or down, Trishul and Aaron have developed the super power to not care. Stock market downturns often trigger fear among investors. But Aaron and Trishul have developed the ability to simply not care about stock market volatility. It comes from a combination of resilience through multiuple downturns, acknowledging the long-term aspect of investing in stocks, using mutl...

Trishul's journey from FIRE to lifestyle practice. Trishul Patel achieved FIRE by building teams to solve problems. After reaching financial independence, his desire to help others led him to accidentally create an lifestyle practice. Now, he focuses on keeping it from growing too large, ensuring it doesn’t interfere with the hobbies he finds most fulfilling. Episode References MMS #144. What...

Trishul's journey from engineer to hedge fund manager. How does an engineer become a hedge fund manager? Trishul Patel shares his journey from engineering to wealth management, bringing his analytical mindset into the world of finance. In this episode, he dives into the key moments of his career and explains how foundational concepts like compounding and risk shaped his path to financial inde...

You need to build your own routine to thrive in retirement. People often retire with the idea of spending their time doing "whatever they want, whenever they want." However, this lack of structure can lead to a negative spiral, potentially resulting in health issues such as depression. To truly thrive in retirement—whether in your 40s or 60s—you need to create your own sense of disciplin...

Trishul is in his 40's and has achieved FIRE. Aaron is also in his 40's, but is not financially independent. Yet they both lead similar lives. What's the difference? Trishul achieved FIRE and began writing a blog to help friends and family make better financial decisions. This eventually led to starting a lifestyle practice as a financial advisor. Aaron started a lifestyle business...

Parents teach hard worth through their actions, not their employment. Trishul has achieved FIRE and is a parent. Aaron describes clients who have achieved financial independence, but still have kids at home for another decade. You teach kids the value of hard work, not through your employment, but through the same activities that make your life fulfilling—whether you're financially independen...

Despite a generation of no real wage growth, how could wages increase? Trishul examines why wages have stayed flat on a REAL inflation-adjusted basis over the last couple of generations. Globalization, tax law, and legislation favoring corporations have combined to increase wealth inequality and suppress wage growth. And Trishul sees no reason for it to change moving forward. Aaron argues that rew...

Addressing criticisms of Kamala Harris's Unrealized Gain tax plan. The ultra-wealthy pay a lower tax rate than wage earners, meaning the US has a regressive tax system rather than the intended progressive tax system. Kamala Harris's tax plan would address wealth inequality by taxing unrealized gains. A Forbes article provides numerous critiques, and Trishul and Aaron try to address each...

Rent or buy? How much as a down payment? Most Americans have most of their net worth in their home equity. In this episode, Aaron and Trishul discuss the pros and cons of making a down payment and buying a home. Is it worth making a larger down payment to lower the monthly mortgage? Is it dependent on the growth assumptions of various asset classes or the behavior and discipline of individuals? Ep...

How U.S. government incentives create rent-seeking. In economics, rent-seeking is extracting wealth without adding value. Trishul provides data and examples of how rent-seeking has made lives harder. Home prices, healthcare, and education have all increased more than incomes, and rent-seeking is partially to blame. They look at how the U.S. government has incentivized individuals at the expense of...

How snowboarding in Park City influenced the genesis of Graystone Advisor In this episode, Aaron shares his story of attending due diligence conferences to learn about non-traded REITs. While it was nice to be wined and dined, he started to see where the client's money went and how understanding fees is important. There will always be conflicts of interest, but if you are open and transparent...