This week's blogpost - https://bahnsen.co/49AK0NH

In this episode of the Thoughts On Money Podcast, host Trevor Cummings, along with guests Blaine Carver and Brett Bonecutter, delve into the intricacies of making financial decisions. They explore the importance of challenging assumptions, understanding biases, and considering second-order effects when making seemingly simple financial choices, such as funding a 401k plan. The episode emphasizes the benefits of consulting financial advisors to navigate complex financial landscapes and highlights the need for a holistic approach to financial planning.

00:00 Welcome to the Thoughts On Money Podcast

00:03 Introducing the Hosts and Special Guests

00:46 The Nuances of Financial Decisions

01:27 Challenging Simple Financial Assumptions

01:44 Psychological Insights into Financial Decisions

03:09 The Role of Assumptions in Financial Planning

08:08 Behavioral Economics and Financial Decision-Making

09:59 The Impact of Inheritance on Financial Behavior

14:09 The Importance of Second Order Effects

19:10 Understanding Tax Implications in Retirement

20:00 The Fork in the Road: Financial Planning Decisions

20:28 401k vs. Taxable Investment Accounts

22:27 Tax Diversification Strategies

25:25 The Complexity of Financial Advice

30:26 The Importance of a Financial Team

37:07 Final Thoughts and Listener Engagement

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/4szAiUr

Decoding 'The Fourth Turning': Understanding Generational Cycles and Their Impact on Investment Philosophy

In this episode of the 'Thoughts on Money' Podcast, hosted by Trevor Cummings and featuring guest Brett Bonecutter, the duo delves into the book 'The Fourth Turning: An American Prophecy' by William Strauss and Neil Howe. They explore its generational theories and cyclical view of history, which posits that every 80-100 years, society undergoes a significant transformation. By breaking down the book’s framework and its predicted

00:00 Introduction and Host Welcome

00:18 Guest Introduction: Brett Bonecutter

01:08 Book Review: The Fourth Turning

02:17 Understanding Worldviews and Narratives

07:40 Historical Philosophies and Investment Implications

14:41 Generational Cycles and The Fourth Turning

18:10 Current Generations and Crisis Predictions

24:04 Exploring Fascinating Quotes

25:28 The Fourth Turning Predictions

26:45 Reflecting on Y2K and Similar Events

29:15 Philosophical Worldviews and Fear

33:53 Investment Strategies and Human Nature

39:46 Concluding Thoughts and Future Outlook

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com

This week's blogpost - https://bahnsen.co/48ZUDcG

The Importance of Embracing Boredom

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and guest Blaine Carver discuss the insights from Blaine's recent blog article titled 'You Need to Be Bored.' They explore how constant stimulation from technology can detract from addressing meaningful, big-picture financial questions, and how creating moments of boredom can lead to better financial decisions. The conversation also covers the pitfalls of making impulsive investment decisions and highlights the importance of having a structured financial plan. Additionally, they touch on the need for prioritizing high-importance and high-urgency financial tasks over less impactful activities. The hosts share their personal experiences with managing boredom and financial stress, emphasizing the value of focusing on long-term planning. They also reflect on how market distractions can lead to suboptimal investment behaviors and the cultural difficulty of being bored in today's fast-paced, tech-driven world.

00:00 Welcome to the Thoughts and Money Podcast

00:16 The Importance of Boredom

00:57 Arthur Brooks' Influence

02:39 Cultural Challenges with Boredom

03:34 Investment Behavior and Boredom

04:35 The Impact of Technology on Investing

05:23 The Role of Boredom in Creativity

06:51 The Psychology of Investing

10:54 The Value of Long-Term Investment Strategies

18:27 Micro vs. Macro Financial Planning

19:28 Prioritizing Financial Decisions

21:06 The Importance of Addressing Major Financial Issues

24:00 Balancing Urgency and Importance

25:52 Creating a Comprehensive Financial Plan

29:11 The Role of Boredom in Financial Planning

33:08 Avoiding Financial Distractions

39:03 Final Thoughts and Holiday Wishes

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com