The Mind Money Spectrum Podcast

The red flags of TikTok financial videos. In this episode, Trishul and Aaron discuss the problem of trying to pare down financial advice to soundbites. TikTok financial videos can contain red flags ranging from likely inappropriate to downright wrong. Anytime we hear passive investing, real estate, crypto, or "Don't invest in your 401k", we immediately assume the video has some ulte...

Bring on 80% unemployment! In this episode, David Shapiro joins Trishul and Aaron to discuss AI and the Fourth Industrial Revolution. Where are we now with technology and society, and where are we going? What is the future of AI at the individual, corporate, and state levels? How does AI affect different jobs? How does AI interact with capitalism in America? If 80% of society is unemployed, how do...

If a Tesla robot can fold your laundry (and do all the other chores), how do you spend your time? What do you take pride in? In a world where robots handle our chores, what becomes of human time? How should we guide children into adulthood? Aaron and Trishul explore these questions, delving into Maslow's Hierarchy of Needs. They contrast the past, where activities fulfilled both basic and sel...

Stuff is cheap. You should spend more on experiences. In this episode, Trishul and Aaron dive into the world of "stuff." They reflect on their spending patterns and attitudes towards material goods versus life-enriching experiences. As the affordability of items increases, they explore strategies to avoid overconsumption, considering not only the physical space it occupies but also its b...

How do you navigate the emotional landscape of deciding whether to sell or hold stock when there's no pressing financial goal guiding your choice? In this episode, Aaron explores a unique situation: a client facing an IPO without needing to sell stock for their lifestyle. Trishul weighs in with the concept of 'homo economicus' and frameworks for handling concentrated stock positions...

W-2 employees can still have an entrepreneurial mindset, right? In this episode, Trishul and Aaron examine mechanical differences between W-2 employees and self-employed individuals, including contractors. While W-2 employees get several benefit-related decisions made for them, they also have to take the employer's choices. A psychological growth mindset can help. Do you prefer "Entrepre...

Education is designed to produce employees, not entrepreneurs. In this episode, Aaron and Trishul reflect on whether their advice applies to most people. Not everyone can structure their calendars like small business owners. For those who are hard-working and ambitious early in their careers, there are a few different ways to enact a mindset shift to allow them to pursue the freedoms they want in...

Ideal year and managing expectations. In this episode, Trishul and Aaron continue the exercise of "Ideal Day, Week, and Year." Aaron clarifies his thoughts regarding the differences between his ideal day and week. They discuss the relationship between discipline and freedom and how embracing both allows you to find a balance. They end up discussing how underpromising and overdelivering a...

Ideal day, week, and year...but really why life is so hard. In this episode, Aaron and Trishul begin an exercise to imagine their ideal day, week, and year. What does your perfect Monday look like? What might be too much for every day but sensible for once a week? They discuss the reasons why their model day feels so good. But then, they delve into competing societal pressures and soon uncover the...

Understanding mutual fund share classes helps transparency in financial services. In this episode, Trishul and Aaron discuss mutual fund shares classes and the evolution of mutual funds over the last forty years. They describe how stock brokers transitioned to financial advisors and how the Internet improved investor education. Consumer demand and aligned incentives fostered the rise of fee-only i...

Aaron and Trishul think it's okay not to save. WHAT?!?! In this episode, Aaron and Trishul discuss scenarios when it is okay not to save for the future. When is traditional financial planning too conservative? When taking a life planning approach, it's okay to prioritize well-being over prudent financial decisions. It may require future flexibility, but with good process and intention, y...

When AI becomes more intelligent than humans, is humanity doomed? In this episode, Trishul prepares Aaron for when Artificial Intelligence becomes Artificial General Intelligence and the ensuing implications for humanity. He explains inner alignment and outer alignment problems and how capitalism and the prisoner's dilemma may mitigate AI creators from pursuing sufficient safety. When we star...

How do you decide when to sell your NSOs? In this episode, Aaron uses the Netflix Employee Stock Option Plan to explain how to decide when to sell NSOs. Just because the stock price has appreciated doesn't mean you should cash out now. Options have both moneyness and time value. Aaron explains leverage to help understand when an option is sufficiently "in-the-money" and a Black-Scho...

What happens to Silicon Valley Bank customers and will this affect my cash? What does the failure of Silicon Valley Bank mean? On 3/15/23, Aaron and Trishul answer client questions regarding the news about SVB. They discuss FDIC insurance and how some risk-free instruments are safer than other risk-free instruments. They address how specific regulatory and economic factors affected SVB and how the...

What happens after AI replaces labor? In this episode, Trishul and Aaron imagine what happens when robots and AI put everyone out of a job. What careers could still exist? Does everyone get custom computer-generated content? If wealth inequality continues on an exponential path, what will the median household do? If the costs of everything in life are driven to a de minimis level, do most people e...

Is AI going to replace Aaron and Trishul? In this episode, Aaron and Trishul discuss the implication of ChatGPT on their (and other) careers. It will likely replace the knowledge they have gained through the CFP program and can answer most client questions directly. Just like a student can outsource a test and a CPA can outsource data entry. The future value may not come from their knowledge but f...

Trishul and Aaron get philosophical as they consider artificial intelligence. In this episode, Aaron and Trishul planned on discussing ChatGPT. But when they go through the history of machine learning, Trishul wonders if a modern AI can pass the Turing Test, and they go down a rabbit hole of the difference between humans and machines. They ponder the question of whether a human's mind/soul ha...

Creating a routine to fill the unstructured time off. In this episode, Trishul and Aaron discuss what they are going to do with their unstructured time off around the holidays. Aaron is particularly concerned with limiting screen time for his three kids. Trishul shares some of the activities he and his family did during his sabbatical and during Covid and how you can create a routine when you have...

Safe withdrawal rates, fulfillment, and economic impact of an aging population. In this episode, Aaron and Trishul explore the question "What if we live forever?" They touch on the science of aging, the economic impact of an aging population, like Japan, and the ramifications on the workforce. While it may seem that supporting a long retirement may require a larger nest egg, it's po...

The current and future impact of going solar and electric. In this episode, Trishul and Aaron discuss the decreasing cost of solar power and whether paying the extra cash now for solar panels or electric vehicles pays off in the end. Episode References EVs save money in the long run California Electric Mandate Solar is now the cheapest in history Price of solar has dropped 89% in 10 years Solar ma...

Everything Fantasy Football. In this episode, Aaron teaches Trishul how to play fantasy football. They use passive investing and simple behavior heuristics as analogies for auto-drafting and setting a lineup. They discuss positional scarcity, relative value, and the diminishing marginal benefit of additional research time. But in the end, it's the context that keeps a group of friends togethe...

Is ESG investing worth extra fees and opportunity cost? There may be better ways to spend your money. In this episode, Aaron and Trishul discuss Socially Responsible Investing and ESG investing. Environmental, Social, Governance investing. They discuss the theories around how and why you you would invest in companies with objectives other than pure profit maximization. Trishul argues that if there...

Tax-Loss Harvesting is not free money, but it still has some long-term benefits. In this episode, Trishul and Aaron discuss all the nuances and caveats of tax-loss harvesting. It is definitely a good thing, but may be more of a tax-deferral than a genuine tax savings. Unless you can get a step-up in basis. The biggest benefit of tax-loss harvesting may come from the time value of money; the compou...

With social media, it takes practice to fight the default doomscrolling behavior. In this episode, Trishul and Aaron examine their own behaviors when it comes to social media and how it continually elicits negative emotions. Social media engines feed more negative items because these drive greater interaction across society. They discuss the balance between 'ignorance is bliss' and being...

Most advice for dealing with rising interest rates doesn't work after the fact. All the advice of what to do during rising interest rates only applies if you went back in time and knew interest rates were going to rise in the future. Once they have already risen, there is not much you can do. But Aaron and Trishul discuss some of the things you could have done if you were able to predict the...