The Mind Money Spectrum Podcast

You've read about the importance of opening a Roth IRA and buying ETFs, but how do you do it in practice? In this episode, Aaron and Trishul go through the introductory building blocks of saving and investing. Often the fear of making mistakes prevents you from taking that critical first step. From choosing a custodian and the correct type of account to figuring out how to transfer funds, wha...

In this episode, Trishul and Aaron discuss investing and emotions when markets are at all-time highs. Should you capture some of your gains or wait for a dip to buy? By focusing on the process and separating your lifestyle concerns from your investment statements, you can mitigate your stress and anxiety. And for most people, the fact that markets are at all-time highs should not factor into your...

In this episode, Aaron and Trishul try to parse out blockchain, cryptocurrencies, and Bitcoin. One is a revolutionary technology, one can potentially change the world of banking, and one has dominated recent headlines. They first dig into the distinctions among these concepts. They then discuss whether Bitcoin is a store of value like gold or a speculative investment like a start-up. But beware, i...

In this episode, Trishul and Aaron go deep into options. Not employee stock options, but calls and puts. The ones you can buy or sell on your own. Well, at least Trishul goes deep. He recalls previous strategies he executed in a past life as an options dealer and trader. Casinos and insurance companies get paid for taking on risk. But they also diversify risk to stay in business. Buying options ma...

In this episode, Aaron and Trishul discuss behavioral finance and behavioral economics in the context of last year's coronavirus rollercoaster. Humans are optimistic and pessimistic beings. And some of us are both at the same time, which seems like a contradiction. By acknowledging these sometimes conflicting feelings and focusing on the decision-making process, you can overcome emotional bar...

In this episode, Trishul and Aaron explore a few areas that you will be better off addressing at the beginning of the year. You can make all of your Traditional and Roth IRA contributions in January to benefit from compound growth sooner. You might even increase your 401k contributions around this time to maximize your annual benefit. Further, January is a great month to increase your savings rate...

In this episode, Aaron and Trishul have fun with math. Granted, this is likely the last thing you think about when it comes to having fun. But at least they end up entertaining themselves. The two discuss compound growth, Manhattan, and Benjamin Franklin. They also relate how the easiest way to benefit from compounding is to start early. Even so, it's never too late to begin planning for the...

In this episode, Aaron and Trishul reflect on past New Year's Eve celebrations, from staying up until midnight as a child to partying as an adult. But now that they have young kids, New Year's Eve is much tamer. Living on the West Coast, Aaron appreciates celebrating at midnight Eastern Time so he can get to bed at a reasonable hour. Given COVID-19 concerns, this year most households lik...

In this episode, Trishul and Aaron think about the various Christmas gift-giving traditions they have enjoyed over the years. From childhood arts and crafts, to cash in their teenage years, to coordinated gift exchanges as adults, giving and receiving presents evolves as we age. They discuss Secret Santas and White Elephants. They also highlight the fine line between a gift card being appropriate...

In this episode, Trishul and Aaron provide a quick primer on common and useful statistical methods. Mean, median, mode, standard deviation, bell curves, and so on. With a normal distribution, the mean should equal the median, and the law of large numbers allows you to make inferences between a sufficiently large sample and the overall population. Unfortunately, most things don't behave as &qu...

Given that Trishul and Aaron release an episode each week, episode #52 means they have been at this for one full year. In this episode, they recount their top-five favorite conversations. They also look back and highlight some overarching themes. They discuss the importance of saving more and asset allocation and why the concept of a spectrum keeps coming up again and again. But what they apprecia...

In this episode, Aaron and Trishul discuss New Year's resolutions. Well, not exactly. They relate how self-improvement doesn't need to coincide with an arbitrary date. They then go over different strategies to help nudge you towards sustainable habits, such as focusing on small incremental improvements and compounding, tracking your progress, and giving yourself eight times longer to acc...

2020 has created a unique situation for engaged couples. Given social distancing concerns, many have decided to postpone their weddings. But if your relationship is ready, would you be better off getting married this year anyway? In this episode, Trishul and Aaron explore the intersection of tax planning and getting married. They discuss the impact of different tax brackets, the marriage incentive...

In this episode, Aaron and Trishul apply previous conversations about happiness and well-being to the upcoming holidays. Being conscious and aware of the things that provide happiness OR the things that create stress can help you focus on ways to increase the former and decrease the latter. They reminisce over holiday nostalgia. They discuss the impact of expectations and the need to get creative...

In this episode, Trishul and Aaron discuss end-of-year tax planning, principally as it relates to your investments. During this period, you already know most your entire financial situation for the year. But also you still have time to take meaningful action before December 31st. Valuable strategies around this time involve tax-loss harvesting, RMDs, exercising ISOs without going into AMT, and Rot...

In this episode, Aaron and Trishul discuss the incentives that influence politicians. Naturally, this means addressing campaign finance reform. If a politician's primary goal is to get re-elected, he or she may focus on fundraising and nudge-nudge-wink-wink quid pro quos with large donors rather than working to improve constituent well-being. Aaron and Trishul look at the history of campaign...

With the election coming up, many people wonder if they should temporarily modify their investment strategy until the results are known. The short answer is no. Trishul and Aaron discuss the emotions that arise from uncertainty. They also go through a decision tree to help clients understand why it makes sense to maintain the same asset allocation they have been using all along. On the other hand,...

Aaron lives in California, and Trishul lives in Pennsylvania, and it feels like Trishul's vote for the President is worth more than Aaron's. In this episode, they discuss the American voting system and how it influences and incentivizes certain behaviors over others. They consider alternative voting structures used around the world and examine past elections to understand how they may ha...

In this episode, Aaron and Trishul discuss concentration risk and when it might be acceptable to take it on. If you have the willingness, ability, and need, increasing your concentration risk may be a way to pursue wealth maximization over the greater probability of achieving a specific goal. But do understand that behavior and emotion can come into play when deciding whether to diversify. Even if...

In this episode, Trishul and Aaron discuss the risks and rewards of potential investments across various asset allocation decisions. They cover cash, bonds, stocks, options, and other even more exotic instruments. What are the two variables that determine the risk-return profile of a bond? And where do small-cap and international stocks fit into the big picture? And what about the idiosyncratic ri...

In this episode, Trishul and Aaron discuss how investing has evolved over the years. From the notion of partial ownership as an investment to the first stocks, stock exchanges, and stockbrokers to the mutual funds and ETFs of today. They consider how incentives influence behavior and how, in the past, fee structures may have influenced investment professionals to the detriment of the investor. Div...

In this episode, Trishul and Aaron discuss the academic research that has informed investing strategies over the past 90 years. Value & Momentum, Modern Portfolio Theory, Efficient Market Hypothesis, Factor Analysis, Asset Allocation, and more. They cover everything you need to know to sound intelligent with your investment club. But the big picture is that all this knowledge won't increa...

In this episode, Trishul and Aaron get wonky as they try to explain Modern Monetary Theory. They introduce the difference between monetary policy and fiscal policy. And they try to explain how fiat currency, currency issuers, national debt, federal deficits, and debt service are all related. They discuss Stephanie Kelton's new book, The Deficit Myth, and some of the concerns of MMT. If defici...

When everything shut down in March due to the COVID-19 pandemic, most people were able to hunker down to get through an acutely stressful period. But as this pandemic became an ongoing, chronic concern, we now understand that new coping mechanisms are essential. To move forward, it may even help to reflect on the five stages of grief; denial, anger, bargaining, depression, and acceptance. In this...

In this episode, Trishul and Aaron discuss more ways the U.S. tax system helps the wealthy. Qualified Small Business Stock, self-directed IRAs, and Grantor Retained Annuity Trusts are all legal means by which rich people can side-step millions or potentially billions in taxes. But these are not just random loopholes. Now, corporations can legally spend unlimited sums of money lobbying politicians...