The Long Term Investor

Dive into the world of evidence-based investing, where empirical research informs portfolio strategies. meets portfolio construction. This episode unravels the science behind applying successful investing strategies and avoiding mistakes that can hinder your financial growth. Listen now and learn: Foundational principles behind evidence-based investing Insights into optimizing your portfolio for long-term Ways to avoid the typical pitfalls of individual and professional investors Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The time for year-end tax and estate planning is now, and this year it's particularly important to get started as certain provisions from the Tax Cuts and Jobs Act will end soon. Plancorp's Susan Jones, JD, CFP joins the show to explain these important planning opportunities that deserve your attention before the end of the year. Listen now and learn: The role tax projections play in long-term financial planning Multi-year planning opportunities for retirees, people with stock options, and business owners Potential impact of changing tax laws on the horizon Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Live from Future Proof, the world's largest wealth festival, Meir Statman talks about the evolution of behavioral finance and how the latest generation of behavioral finance focuses on holistic well-being. Listen now and learn: The three generations of behavioral finance The difference between "errors" and "wants" The tradeoffs between a financially optimal and behaviorally optimal portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Concentrated stock positions typically emerge through employee compensation, inheritance, or a singularly successful investment. But in all cases, a large individual stock position introduces unnecessary risk to your portfolio. Listen now and learn: Why investors tend to avoid diversifying concentrated stock positions Four ways to diversify concentrated stock positions How SMAs supercharge tax loss harvesting efforts to offset capital gains When more advanced strategies such as exchange funds or option collars are best Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

When you plan to invest a large amount of money, you probably want to know when it's best to invest that cash. Should you invest it all at once or dollar cost average over time? Listen now and learn: Historical probabilities of positive market returns How markets perform after reaching all-time highs Eye-opening results from a multi-decade study on market timing Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Jesse Cramer, author of The Best Interest, joins the show to share his in-depth research into the astounding math behind car ownership. Listen now and learn: How to evaluate the impact of time owned vs miles driven When purchasing a used car is smarter than buying a new car How leasing compares to owning from a cost perspective Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The Federal Reserve recently unveiled a new payments system called FedNow that would replace the United State's antiquated system created more than 50 years ago. But like anything else, change can cause anxiety and there is a lot of false information floating around making matters worse. Listen now and learn: The basics of the FedNow system How FedNow is different from digital currency Why Fed should be viewed as a good thing for everyone Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In the second episode of a series about student loan debt, I'm joined by Tyler Olson, who provides financial advice and education for early and mid-career physicians. Listen now and learn: How to choose the right repayment plan When to refinance vs consolidate loans Differences in debt snow and debt avalanche approaches Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Cait Howerton, CFP® shares her deep expertise in student loans and provides a broad overview on strategies for paying them off. Listen now and learn: Challenges high-earning professionals with student loans face Strategies for managing student debt during low and high earning years How to manage lifestyle creep Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

John Jennings, author of The Uncertainty Solution joins the show to explain how to invest with confidence in inherently uncertain and unpredictable markets. Listen now and learn: How humans react to uncertainty The difference between the economy and the stock market The role of skill and luck in investing outcomes Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Building the perfect portfolio doesn't matter one bit if it doesn't align with your willingness and ability to take risk. Evaluating your own risk tolerance is difficult for individuals because of the emotions that are intertwined with investing. Listen now and learn: The difference between ability and willingness to take risk Factors that drive an investor's risk tolerance How to choose the right asset allocation based on your risk tolerance Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

How does the choice of using index funds or core funds with an emphasis on value, size, and profitability impact your retirement savings? Mathieu Pellerin, Senior Researcher and Vice President at Dimensional Fund Advisors, shares his recently published research on the impact of factor investing on retirement outcomes. Listen now and learn: How a core portfolio differs from an index portfolio The impact of investment strategy on accumulation, decumulation, and bequest outcomes When short-term ends and long-term begins Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The primary purpose of bonds is to reduce the overall volatility of the portfolio, but as we saw in 2022, that doesn't mean they can't lose money. In fact, 2022 was the worst year for bonds in US history. And now that we're in a new period of higher interest rates on money market funds, CDs, and short-term Treasury bills, I've noticed an increasing number of people wondering whether they should hold cash instead of bonds. Listen now and learn: How reinvestment risk impacts yield Why investment goals drive your choice of cash vs bonds Where diversification can help boost yield Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Jill Schlesinger, host of Jill on Money and award-winning business analyst for CBS News, joins the show to talk about her latest book: The Great Money Reset. Listen now and learn: What it means to do a great money reset How great money reset experiences differ by age Timely financial steps to build the life you really want Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The United States is an exceptional place to invest and they've historically delivered higher returns than international stocks. That begs the question: Does it make sense to own international stocks? Are US stocks enough for your portfolio? Listen now and learn: The primary driver of recent US stock outperformance Why factor investing in a global manner tells a different story How International stocks perform during periods of low returns for US stocks Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Polina Pompliano is the author of HIDDEN GENIUS: The Secret Ways of Thinking That Power the World's Most Successful People. She is also the founder of The Profile, a media organization that studies successful people and companies. Listen now and learn: Why mental models are more important than life hacks How to problem solve in a crisis The difference between systems-based and outcomes-based thinking Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Retail investors are often curious about various aspects of AI, especially regarding its potential impact on the financial markets and investment opportunities. Some common questions asked by retail investors about AI include: Listen now and learn: Whether you're investing in companies at the forefront of AI Questions to ask about your existing holdings How AI can and can't be incorporated into portfolio construction Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The problem with conventional wisdom is that it represents the masses, but there's a whole host of things that conventional wisdom gets wrong. By default, that feeds into what investors get Listen now and learn: What investors get wrong A new way to think about risk How to define investment success Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

There isn't a better retirement savings account than a Health Savings Account (HSA). Listen now and learn: How HSAs actually work Ways to HSAs to supercharge your retirement savings Advanced planning strategies that leverage an HSA's flexibility Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Michael Kitces is one of the industry's leading experts on all things financial advice and financial planning. In this live episode recorded at Wealth Management EDGE, Michael explains the evolution of financial advice and how AI might impact the profession going forward. Listen now and learn: The evolution of financial advice from the 1960s to present Ways consumers benefit from financial advisors moving up the value chain How AI might impact the financial advice profession Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Plancorp's CEO, Chris Kerckhoff, joins the show for a live recording at the Wealth Management EDGE Conference. Listen now and learn: Why the debt ceiling was originally created The three most likely scenarios in today's debt ceiling standoff How to think about investing Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In this episode, I'm joined by Carl Richards, a Certified Financial Planner (CFP®) and creator of the Sketch Guy column, appearing weekly in The New York Times since 2010. Listen now and learn: How investors fall victim to the behavior gap What it means to do real financial planning The best way to avoid "The Big Mistake" Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Using index funds in your stock portfolio has historically been a wise choice, but bond indexes have some inherent disadvantages that make them a less obvious choice. Listen now and learn: How bond indexing differs from stock indexing The different types of active bond management How to choose a fund that's right for you Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The death of a spouse is one of the most emotionally challenging times of a person's life. In this financially driven conversation, Mike Piper explains the financial steps to take for a surviving spouse. Listen now and learn: What married couples can do to make it easier on a surviving spouse in the future Financial planning techniques a surviving spouse can use to maximize their wealth and minimize taxes When it makes sense to disclaim an inheritance Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Bond funds are superior to individual bonds for four distinct reasons. Listen now and learn: The hidden costs in individual bonds The easy win individual bonds miss out on How to transition from individual bonds to bond funds Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Rick Ferri, host of the Bogleheads on Investing podcast, joins the show to talk about the three components of successful investing. Listen now and learn: The importance of having a clearly defined investment philosophy The four stages of an investor's philosophical journey The key ingredient to keeping a great investment plan intact Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

As consumers, we've come to expect customization and personalization with most things these days, whether it's our coffee order, streaming preferences, or insurance policies…So why should our investments be any different? With direct indexing, investors can create custom portfolios based on their specific goals, values, and preferences. Listen now and learn: How direct indexing differs from ETFs and mutual funds The benefits of direct indexing Types of investors best suited for direct indexing Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

This week, financial history expert Jamie Catherwood of Investor Amnesia joins the show to share the history of innovation in investment vehicles and how it impacts investors today. Listen now and learn: The importance of understanding financial history Lessons from investment bubbles of the past How investment vehicles have evolved over time Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The daily news cycle is of very little importance when it comes to long-term investing, but the failure of Silicon Valley Bank is the type of news item that catches the attention of even the most disciplined investor. Listen now and learn: What happened with Silicon Valley Bank The broader health of the banking industry Implications for future investors Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In this episode, I'm joined by Jeremy Schwartz, Global Chief Investment Officer at WisdomTree. Prior to joining WisdomTree in 2005, Jeremy was a head research assistant for Professor Jeremy Siegel and, in 2022, became Professor Siegel's co-author on the sixth edition of the book Stocks for the Long Run. Listen now and learn: Why you should want to own stocks right now Why fundamental indexing is better than indexing How to manage cash in the current yield environment Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Being more than a year into the current bear market, it's natural to wonder when it will end. In this episode, Peter shares his thoughts on where we are in the market cycle and how to invest going forward. Listen now and learn: Typical size and duration of bear market declines and recoveries The likelihood that the U.S. economy goes into recession Five insights on how to invest going forward Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The SECURE 2.0 Act passed at the end of 2022 includes 100 changes to the rules governing retirement savings. In this episode, I'm joined by Plancorp's Chief Planning Officer, Brian King, to talk through the most important opportunities resulting from the legislation. Listen now and learn: The impact of SECURE 2.0 on people nearing or in retirement How new provisions make it easier for workers to balance current needs with future goals The biggest planning opportunities from SECURE 2.0 Act Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Creating a budget and sticking to it is difficult for most people because the process is time consuming and restrictive. Traditional budgeting forces you to make every decision as if you live in a spreadsheet. But guess what? You don't live in a spreadsheet. Listen now and learn: Why a reverse budget is better than traditional budgeting 3 steps to set up an automatic reverse budget An extra tip for supercharging your savings Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Robin Powell is an award-winning journalist and campaigner for positive change in global investing, advocating better investor education, and greater transparency. Listen now and learn: ● what evidence-based investing is all about ● The importance of developing a financial plan prior to choosing investments ● The differences in the adoption of evidence-based investing outside the U.S. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Measuring the success of your portfolio is important for several reasons, but most people don't know how to properly measure the success of their portfolios. Listen now and learn: The purpose of a benchmark for your investment portfolio The difference between Portfolio-Based Benchmarks and Goals-Based Benchmarks Meaningful questions to ask when evaluating performance Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Upon starting his independent advisor journey in 2015, Dasarte Yarnway quickly learned that underrepresented clients and advisors alike were overlooked and underserved. Due to the grave statistics associated with this reality, he sought out to change the landscape of the financial services industry one client and one advisor at a time. Listen now and learn about: Changes in financial services over the last decade The importance of diversity in financial services and how to increase it The most important thing an advisor can do for business owners and entrepreneurs Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Now that yields are high enough to warrant our attention, what is the right way to measure yield? Listen now and learn: Pros and cons of four popular yield metrics 3 reasons to avoid tactically shifting your bond allocation to cash and short-term bonds Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

I love talking shop with colleagues from around the country and wanted to give you a peek into those conversations, so this week I invited two of my favorite Chief Investment Officers, Phil Huber and Rubin Miller. Listen now and learn: Our thoughts on the biggest storylines of 2022 How we develop return assumptions for financial planning models Things people misunderstand about the role of a Chief Investment Officer Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

How can two people with the same income, financial experiences, or education have very different levels of financial wellbeing? It's simple: a sense of wellness doesn't come from numbers alone. It's all about the sense of security and freedom of choice each individual feels, both in the present and future. Listen now and learn: Four steps to improve your financial wellbeing A simple process for setting realistic goals The most downloaded free resource and how to use it yourself Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Dr. Burton Malkiel, author of A Random Walk Down Wall Street, joins the show to talk about the 50th anniversary of his investment classic. Listen now and learn: The two biggest mistakes investors make Lessons from market bubbles of the past Practical ideas for achieving investment success Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The start of a new year is one of the best inflection points for your finances. There are really nice tax planning, investment, and capital allocation opportunities right now. If this year you are considering seeking professional help with your finances, this top "rewind" episode from 2022 is for you. By the end of this episode, you'll understand how to structure your search for an advisor, research if they are trustworthy, and complete a structured interview with anyone you are considering hiring. Listen now to learn: The 4 steps to identifying an ideal advisor Questions to use when interviewing prospective advisors Things to consider when selecting a robo-advisor rather than a human advisor To listen to the entire 3-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to: EP.24: Do It Yourself or Hire an Advisor? EP.26: Not All Financial Advisors Are Created Equal EP.28: How to Interview an Advisor You'll also find all the show notes, free resources, and links mentioned in this episode.

Markets are down, inflation is high, and many are expecting a recession. Are you ready? In this "rewind" episode, I revisit a popular episode that is now more relevant than ever. By the end of this episode, I hope to help you answer an important question: "When is it time to seek professional help with your finances?" Listen now to learn: How to think about doing any given task vs. hiring a professional The value of an advisor according to a prominent Vanguard study Common mistakes investors make on their own To listen to the entire 3-part series this episode aired with, visit www.TheLongTermInvestor.com and listen to: EP.24: Do It Yourself or Hire an Advisor? EP.26: Not All Financial Advisors Are Created Equal EP.28: How to Interview an Advisor You'll also find all the show notes, free resources, and links mentioned in this episode.

Successful retirement savers often find themselves in a high tax bracket during retirement (pensions, social security, RMDs, etc.). One of the downsides, in addition to a higher tax bill, is getting hit with Medicare IRMAA. Listen now and learn: How IRMAA works Strategies for retirees to avoid IRMAA How to plan for IRMAA while you're still working Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

After age 72, a Required Minimum Distribution (or RMD) must be withdrawn from your traditional IRAs and 401(k)s each year—whether you need it or not. Failing to take an RMD could result in a tax penalty worth up to 50% of the amount you should have taken. Listen now and learn about seven strategies to minimize the RMD tax liability. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

When it comes to maximizing wealth, there is usually going to be a mathematically optimal solution, but that solution doesn't always align with our human emotions. Ben Carlson, co-host of Animal Spirits and author of A Wealth of Common Sense, joins me to talk about the variety of instances where spreadsheets and theory don't align with human emotions and reality. Listen now and learn: Why investors fail to earn the market return The importance of avoiding bad investments How personal finance best practices aren't always the optimal choice for you Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Is the 60/40 portfolio dead? Both stock and bond markets are down this year, which has led to the traditional framework of the 60/40 portfolio being called into question across a variety of media outlets. Listen now and learn: 5 reasons the 60/40 portfolio is not dead The historical performance of past 60/40 portfolio declines How the 60/40 portfolio framework is undergoing its biggest change ever Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Giving to charity is relatively straightforward, but there are many ways to maximize your gift and tax benefit with just a little planning. In this episode, Plancorp's Sara Gelsheimer shares her deep knowledge of charitable giving strategies. Listen now and learn: The difference between charitable giving and charitable planning Important things to ask charities before giving Strategies for maximizing the tax benefit of your charitable gifts Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions. —---------------------------------------

Although the popularity of index investing has exploded in the past decade, actively managed funds still make up the majority of investor assets. Listen now and learn: How often active managers fail to beat the market Why managers that do win fail to keep winning Three key characteristics that deserve most of your attention Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

There is overwhelming evidence showing traditional active management is a losing strategy, but investors of all kinds still use it. In this week's episode, I'm joined by Dr. Andrew Berkin, author of The Incredible Shrinking Alpha: How to Be a Successful Investor Without Picking Winners. Listen now and learn: Why it's difficult to outperform the market Why the opportunity to outperform is shrinking Clear strategies to help you improve your likelihood of success Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The collective knowledge of financial markets is one of the reasons it is extremely difficult for active managers to consistently outperform the market. Listen now and learn: Why groups are good a guessing the weight of cows and jellybeans The reason you should assume market prices aren't wrong The importance of harnessing the power of markets for your own portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.