The Mind Money Spectrum Podcast

In this episode, Aaron and Trishul discuss all the different types of taxes in the United States and their impact on income inequality. They discuss regressive consumption taxes, progressive income taxes, and how taxes are lower for businesses and the wealthy. They also examine the difference between marginal tax rates and effective tax rates. Do you know all the ways that corporations and their o...

In this episode, Aaron and Trishul discuss the value of a financial advisor and the impact that financial planning can have on the lives of clients. A disciplined investment strategy and increased savings over time can lead to a higher net worth for clients than if left to their own devices. Also, advisors help clients find small but meaningful opportunities while avoiding seemingly small mistakes...

In this episode, Trishul and Aaron discuss how they are doing as parents during COVID-19. They share recent experiences dealing with their kids of different ages. And they describe how they are struggling to make decisions about how to move forward. Between work and school, parents find themselves stuck between a rock and a hard place. And it's not going to get any better any time soon. They...

In this episode, Aaron and Trishul discuss Restricted Stock Units. In addition to stock options, RSUs are the other common form of equity compensation. They explain how Restricted Stock Units can work like a bonus paid by stock instead of cash. They go in-depth on vesting schedules and the difference between publicly traded companies and private (pre-IPO) companies. They then compare RSUs to optio...

In this episode, Aaron and Trishul discuss the factors employees must consider when exercising their stock options. They go into strike price, Fair Market Value at exercise, sales price, and tax implications. They explain the difference between Non-Qualified Stock Options and Incentive Stock Options. They also introduce leverage, the Alternative Minimum Tax, and Golden Handcuffs. In the end, the d...

In this episode, Trishul and Aaron try to introduce all the nuance and complexity behind estate planning. They explain how the step-up in basis on taxable accounts can be better for heirs than inheriting a Traditional IRA. They then discuss wills and trusts, both revocable and irrevocable. Then there are community property states vs. separate property states. Don't forget the estate tax exemp...

In this episode, Aaron and Trishul discuss how taxes work in non-qualified investment accounts. Without account-level IRS rules or benefits, it's the actual investments inside of these accounts that drive the tax implications. Savings accounts and bonds generate taxes on interest. Stocks may have dividends and capital gain taxes, which depend on your income and holding period. And mutual fund...

In this episode, Aaron and Trishul discuss everything Roth, including Traditional IRAs vs Roth IRAs, Traditional 401(k)s vs Roth 401(k)s, and IRAs vs 401(k)s. There's also Roth Conversions and Back-Door Roth Contributions to consider. And Trishul even throws in some HSA and 529 pointers. Contributing to a Roth IRA or 401k is advice commonly found on the internet. But now you can understand th...

In this episode, Aaron and Trishul discuss financial planning strategies for people in their 60's. They explain the logic behind why financial planners recommend delaying Social Security until age 70. They also discuss Roth Conversions and ACA subsidies and why a year of no or low taxes is a missed opportunity. Once Social Security and Required Minimum Distributions begin, this additional tax...

In this episode, Trishul and Aaron discuss the value of a college education. Why is there a correlation between household income and education? If you already have enough money saved up for college, is the piece of paper worth more than the dollars spent? And what about the knowledge gained, or the intangible networking effects, or the additional benefits of self-improvement? Aaron admits he may n...

In this episode, Trishul and Aaron dig into Universal Basic Income. Income inequality is a problem in the United States and UBI or a negative income tax may be a potential solution. But how does UBI fit in with a capitalist system? And how might it affect incentives for people at different levels of income? If the U.S. already provides a variety of social safety nets, moving to a UBI has the poten...

In this episode, Aaron and Trishul discuss the American healthcare system. Over the last generation, U.S. healthcare costs have more than doubled compared to other developed nations, but we are not any happier or healthier. So where does all this money go? How did we get to our current system? And how do we even shop around if there is no price transparency? They share some evidence and a few anec...

In this episode, Aaron and Trishul discuss saving for college. How much do parents need to save to fully fund four years at UCLA, or a more expensive private school? What are the variables to consider? Will higher education costs keep rising faster than inflation? And what are the benefits of a 529 plan? The math isn't particularly complex. But trying to predict the choices of teenagers 18 ye...

In this episode, Aaron and Trishul discuss insurance companies. How do these firms determine their premiums? How much should you pay? And when it might be appropriate to "self-insure"? Aaron and Trishul dig into left-tail risk and the law of large numbers when comparing car insurance to life and long-term care insurance. If something is likely to happen eventually, you can assume the ins...

In this episode, Aaron and Trishul introduce Molly Laughter, a wealth manager from Dallas, Texas. She discusses her history with student debt and how she and her husband paid off about a quarter million in student loans in 6 years. They were even able to consistently increase savings every year to save for a house. Molly then discusses the value of automation, but she also exposes the flip side da...

In this episode, Aaron and Trishul bring everything back to the present. What happened in the markets in the last couple of months? Has the coronavirus curve flattened yet? What were some of the strategies and tactics they implemented with clients? And more importantly, what's going on with their lives and how are they holding up these days? While the market continues to show volatility, it t...

In this episode, Trishul teaches Aaron what it means when the VIX is over 30, and things get a little wonky explaining all the technical math behind stock market volatility. They appropriately compare options to insurance and gambling. And they discuss the Black-Scholes pricing model and how market forces determine implied volatility. In the end, they discuss how understanding the VIX can be a use...

Let's travel back in time to the beginning of March 2020. COVID-19 had just taken hold of our daily lives. The stock market dropped 13%, then rose 5%, and commuters roamed the Earth. In this episode, Aaron and Trishul discuss how they feel and react to big market movements. They suggest how an asset allocation incorporating a timeframe can help you take your mind off the things you can't...

Studies show you will be better off by delaying gratification. But if you continually delay gratification without ever consuming, will you ever be happy? How do you find the balance between happiness and meaning? And when does it make sense to start spending your hard-earned savings? And do you need to wait until "retirement" to use your money for your happiness? Not necessarily. Make su...

In this episode, Aaron and Trishul discuss the distinction between happiness and meaning, and things get pretty philosophical. Both are essential components of well-being, but pursuing one at the expense of the other is not the recipe for a fulfilled life. Happiness and meaning may lie on opposite ends of a spectrum, and eschewing either may be unhealthy. Instead, you should try to discover your g...

In this episode, Aaron and Trishul explore behavioral economics. They discuss a few biases and heuristics that attempt to explain why humans and societies don't operate with their best interests in mind. They provide specific examples of how individuals or organizations can take advantage of or exploit the brain's preference to be lazy. So once you understand how your mind works, how can...

In this episode, Trishul asks Aaron about his childhood experiences and earliest memories related to money. What motivates you? What leads to the decisions you make? Where do your values come from? Often it is your experiences throughout your childhood and developmental years that matter the most. Trishul digs deep to help Aaron explore how his personal history has impacted his character and value...

In this episode, Aaron asks Trishul Kinder's 3 Questions. These questions are designed to help you consider what freedoms in life you want to pursue. They help provide clarity to determine how you can use your money to live the life you want. Money is not our most precious commodity; it's time. This episode is not about checking things off your bucket list, but rather it's about pri...

In this episode, Aaron and Trishul look years into the future with their predictions of how different technologies will impact the economy and society. How do Airbnb, Vrbo, Uber, and Lyft provide a win-win for everyone? Are the networking externalities they provide similar to Facebook and Amazon? What about blockchain and cryptocurrencies? And what about all the disruptions these changes will caus...

In this episode, Aaron and Trishul discuss their experiences as landlords of individual rental properties over the last decade. They go over the math to help you make an apples to apples comparison to investing in a liquid stock and bond portfolio so you understand the opportunity costs involved. And even after breaking down the socioeconomic factors that affect real estate as an investment moving...