The Long Term Investor

This is the first episode in the Investing by Age series. The financial decisions you make in your 20s are arguably more impactful than any other time in your life because of the time your decisions have to compound. Listen now and learn: Why it's important to start investing now The essential elements to investing in your 20s The most important thing to avoid in your investments Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Why does the stock market go up? Author and finance commentator, Brian Feroldi, joins the show to answer the most common questions everyday people have about the stock market. Listen now and learn: How investors determine what a business is worth What makes stock prices bounce around every day Why stocks tend to go up over the long-term Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

How much do you need to retire? People are living longer. Healthcare costs are rising. And we have no idea what Social Security will look like in the future. So it's no surprise that even the best savers have uncertainty around whether they are doing enough. Listen now and learn: How to measure your current savings progress based on your age and income An easy calculation to estimate how big your portfolio needs to be to retire The process Peter and his team use to answer this important question Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Nicole Boyson has been a professor at Northeastern University since 2004 where she teaches and conducts research in areas such as investments and corporate finance. She joins us today to discuss her research on fiduciaries and brokers, particularly on financial advisors and potential conflicts of interest. Listen now and learn: Common conflicts of interest in the investment space The evolution of various conflicts, including where we are today A simple method for determining if a financial advisor is dually registered Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter addresses a listener's question about making 529 withdrawals while the stock market is down. Listen now and learn: The best way to invest your 529 savings How to manage 529 withdrawals during a market downturn How Peter manages his own 529 plan for his two kids Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In this episode, I'm joined by Dr. Preston Cherry, Head of Financial Planning and Assistant Professor of Finance at University of Wisconsin Green Bay. He is also the president of Financial Therapy Association and host of the Life Money Balance podcast. Listen now and learn: The importance of setting expectations in advance of investing The difference between investment planning and investment management Thing 2. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Reading is one of life's greatest hacks. Nonfiction offers you the ability to learn about any topic from the best and brightest minds in the world. Fiction provides hours upon hours of entertainment for less than the cost of a monthly subscription to Netflix. Unfortunately, most people don't read much, but here are six easy ways to increase the number of books you read. Listen now and learn: Why building habits is more effective than trying to reach a specific goal 6 easy ways to build your reading habit The single biggest hack for reading more Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Mary Child's is the cohost and correspondent for NPR's Planet Money, but this episode focuses on her new book covering iconic bond fund manager, Bill Gross. Listen now and learn: Why bond trading was invented How Pimco came to dominate bond markets What's most interesting about the bond environment today Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The S&P 500 is flirting with bear market territory (defined as a 20% decline from the high) as investors grapple with several variables including multi-decade high inflation, aggressive monetary policy tightening, and persistent global supply chain issues. Listen now and learn: Why losses are normal on the way to higher expected returns A helpful discussion around how long Bear market "bounce backs" typically take How the rising interest rates could actually improve your overall returns Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Dr. Daniel Crosby, a psychologist and behavioral finance expert joins the show to talk about the things we get wrong and how to get them right. Listen now and learn: What most people misunderstand about investing The 3 things required to change financial behavior How your environment can dramatically alter the decisions you make Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Keeping documents orderly and well-secured has long been an important part of financial management, and it's worth investing a little time to get your financial life in order if it's far from it right now. Much of what it takes to implement better recordkeeping comes down to finding the appropriate balance between access and security. Listen now and learn: A straightforward set of rules for what to keep and for how long, How to securely store physical and digital records The best way to safely dispose of documents you no longer need Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In these uncertain times, the basics matter more than ever. Joe Saul-Sehy and his co-author Emily Guy Birken take the basics and make them fun in their new book Stacked: Your Super-Serious Guide to Modern Money Management. Listen now and learn: Joe's unique framework for setting goals The difference between budgeting and tracking expenses The reason it's important to ask yourself "what if?" with your finances Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

A widely watched aspect of the yield curve has been making headlines recently. I want to help you better understand what everyone is talking about and how it impacts your investments. Listen now and learn: What the yield curve is and what it means when the yield curve inverts The relationship between yield curve inversions and recessions How to think about your portfolio given the current environment Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

This episode features Nick Maggiulli, author of the new book Just Keep Buying and popular blog Of Dollars and Data. Listen now and learn: How to determine if saving or investing is more important How (and when) to invest your cash A unique way to frame the opportunity that exists in down markets Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In this episode, Peter answers listener questions about 401(k) accounts. Listen now and learn: How to choose between a Roth and Traditional 401(k) Best practices for choosing mutual funds in your 401(k) When is the right time to make withdrawals from your 401(k) in retirement Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

There is no such thing as a perfect portfolio. There is only the portfolio that you can stick with for as long as possible. In this episode, Vanguard's Liz Anne Muirhead and Natalie Marvi-Romeo explain three evidence-based strategies for your portfolio: Index Investing, Factor Investing, and ESG Investing. Listen now and learn: The case for each of these different investment strategies What potential shortfalls each strategy presents How to choose the strategy that's right for you. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Knowing that you are going to experience market losses can help you mentally prepare and make better decisions. In this episode, I explain how performing a safety net analysis can give you an additional layer of emotional comfort during a market downturn. Listen now and learn: The 4 steps to performing a safety net analysis Best practices for putting the analysis into practice How long you can withstand a downturn given your current situation Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Finances are an important piece of wellbeing, but holistic wellbeing also considers your physical, emotional, and spiritual health as well. Joy Lere, a licensed clinical psychologist and co-founder of Shaping Wealth, joins the show to discuss these issues. Listen now and learn: The importance of holistic wellbeing The emotional burden of retirement The importance of self-care Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Roger Whitney, host of Retirement Answer Man, shares his perspectives on helping individuals transition into retirement. Listen now and learn: How retirement differs from past generations Ways that planning beyond traditional financial models can improve retirement outcomes The importance of having agency in your the life and retirement Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Last week the S&P 500 entered correction territory, which is defined as a 10% drop from the previous market peak. Listen now and learn: What recent losses mean from a historical perspective Why Russia and Ukraine play a smaller role in the losses than you think What's actually driving market losses and where we go from here Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

A conversation with Josh Bannerman, co-host of the mega hit podcast Stacking Benjamins. Although he chooses to be anonymous on his show, he is known for speaking freely about financial planning and investing. Listen now and learn: The story of how Stacking Benjamins became the success it is today How people get in trouble when making long-term decisions Why time is the great equalizer with investing Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

U.S. inflation accelerated to 7.5% over the last 12 months. You don't need to be an economist to realize that this headline number is a big deal for Wall Street and Main Street. But as someone who works on Wall Street and lives on Main Street, I'm here to tell you why I'm not particularly worried about the recent uptick in inflation. Listen now and learn: The components driving inflation metrics higher XX reasons you can feel optimistic about inflation A framework for thinking about inflation with your investments Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Investors are seeing losses in their bond portfolio. Given how low interest rates are today, mistakes in your bond portfolio are more costly than ever. PIMCO's David Braun helps us understand what's going on in the bond market. Listen now and learn: What's going on in the bond market today The outlook for interest rates and inflation Why indexing in bonds is different than indexing in stocks Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The stock market has fallen from it's high. Even though these types of drawdowns are completely normal, some people SHOULD be more concerned, especially if any of the reasons discussed in this episode are true. Listen now and learn: The history of market losses 4 reasons someone should worry about recent volatility Details of a free book giveaway Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Brian Portnoy is the founder of Shaping Wealth, a learning technology platform transforming the human experience of money. Brian has written multiple bestselling books on the psychology of money: How I Invest My Money (2020), The Geometry of Wealth (2018) and The Investor's Paradox (2014). Listen now and learn: The difference between being rich and wealthy How we fail in funding a meaningful life Ways to bring balance to your money life Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter answers questions he received while presenting to major U.S. corporations. Listen now and learn: How to invest for inflation The ideal amount of crypto in your portfolio What's a reasonable amount to pay in fund expenses and advisor fees Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Christine Benz is Morningstar's director of personal finance and author of 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances. She has twice been named to Barron's list of 100 Most Influential Women in U.S. Finance. Listen now and learn: The most important thing to do for your finances in 2022 How to find the best return on your investment What to look for when reviewing your portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter answers your questions in his latest mailbag episode. Listen now and learn: What do to about an upcoming market downturn The implications of investing at all-time highs How to hedge inflation in your portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

This is the third and final episode in a series on hiring an advisor. While first two episodes focused on the basic differences among financial professionals, this episode will focus on the process of hiring the right person for you. Listen now and 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 Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Tadas Viskanta is the Founder and Editor of Abnormal Returns which highlights the best financial and investment content every day. There is far more information available than any one person can digest, and yet somehow Tadas does it. Listen now and learn: How to be a better consumer of financial information Problems that consuming forecasting content can cause Why it's important for advisors to create content Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

While having a good advisor is one of the best decisions you can make, choosing the wrong advisor can do more harm than good. If you are going to hire a professional, the biggest investment you can make is in the time you put into selecting the right person. This starts by understanding some of the major differences between professionals in the industry. Listen now and learn about: Scenarios in which financial advisors may not be acting in your best interest The best designations to look for in a financial advisor Differences in advisor compensation that impact the advice you receive Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter is joined by Caleb Silver, Editor in Chief of Investopedia and host of The Investopedia Express podcast. As one of the leading financial journalists today, Caleb shares his unique perspective on market and consumer trends. Listen now and learn about: The role Investopedia plays in educating individual investors How the Investopedia Anxiety Index acts as a leading indicator of market panic Unique tools to help you learn and improve investing outcomes Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Should you manage your money or hire a professional to help? In the first of a three-part series on hiring an advisor, you will learn: How to think about doing any given task versus hiring a professional The value of an advisor according to a prominent Vanguard study Common mistakes investors make on their own Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter interviews Gerard O'Reilly, Co-Chief Investment Officer and Chief Investment Officer of Dimensional Fund Advisors, which manages $653 billion for clients across the globe. Listen now and learn: Gerard's perspective on current market valuations, interest rates, and inflation A behind-the-scenes look at Dimensional's approach to research and implementation decisions What to expect for the future of the investing universe Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

With so many different investments, how should you choose what to include in your portfolio? Listen now and learn: The tradeoffs between implementing a bad idea and missing out on a good one A framework for determining whether higher performance is the result of chance A process for making choices about adding a new position to your portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Phil Huber is a wealth management practitioner and an investment-industry thought leader. As a CFA and CFP®, Phil is uniquely qualified to help investors design, implement, and stick with evidence-based portfolios built to hit long-term financial goals. Listen now and learn: - How the role of Chief Investment Officer has changed over time - Insights from Phil's new book, The Allocator's Edge - How Phil defines "long term" invests his own money

Peter answers your questions in his latest mailbag episode. Listen now and learn: How to estimate spending in retirement At what point should you stop saving for retirement Considerations for refinancing in 2022 Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Cryptocurrency investors have been clamoring for a bitcoin ETF to make it easier for average investors to gain exposure to the crypto market without having to mine bitcoin themselves. The wait is finally over, so now the question is whether the Bitcoin ETF makes sense for you. Listen now and learn: How Bitcoin ETF returns will differ from changes Bitcoin prices Problems with common investment theses for owning Bitcoin A framework for thinking about adding Bitcoin to your portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

While people tend to focus more of their attention towards the stock portion of their portfolios, but understanding the underlying fundamentals of your bond portfolio is important too. The biggest mistakes investors make tend to occur when yields are their lowest, so listen now to learn: The key drivers of bond returns How rising rates can be a good thing for long-term investors The disadvantages of owning individual bonds instead of bond funds Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

The national debt is always a hot topic, particularly when the country bumps up against the debt ceiling. Information from the media is often incomplete or biased, so it's hard to understand what the implications are for investors. Listen now and learn: How the debt ceiling works and what to expect in the future What the growing U.S. national debt means for investors Investment implications for the long-term investor Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Lifestyle creep happens when your spending rises with your income and you adjust to a more expensive way of living. Once you get used to a certain lifestyle, cutting back can be very hard to do. Listen now and learn about: How this sneaky financial phenomenon can derail your financial progress A system that directs dollars to the things that matter to you most and keep us on track for reaching our end goals Resources to help stomp out lifestyle creep Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Democrats on the House Ways and Means Committee released their tax proposals on September 13, with the legislation covering a wide range of tax issues. Brian King, Chief Planning Officer at Plancorp, joins Peter on this episode to sort out the wide range of tax issues in the legislation and potentially planning opportunities to consider. Listen now and learn: The most important aspects of the tax proposal Planning opportunities to consider both this year and in the future Year end tax planning tips that are relevant to all people regardless of the legislation Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

In 2020, the global stock market had 155.7 million trades per day worth $554.6 billion dollars. The market prices you see at any given moment reflect the buying and selling by millions of market participants incorporating all known information about a company. Collectively, these market participants are highly educated and highly motivated. As a result, there is a lot of information that is quickly incorporated into prices. Listen now and learn: Why market prices fluctuate How financial markets are like piles of sand The biggest mistake people make when thinking about making a change to their portfolio Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

A growing number of investors are interested in Environmental, Social and Governance investing, known as ESG. That term is becoming more common, but ESG still means different things to different people. While some investors are drawn to the socially responsible side of ESG investing, others approach ESG factors as a way to evaluate risks and opportunities and create more sustainable portfolios. Because there are a lot of approaches that you can choose from, each with very different objectives, Peter shares his view of this rapidly growing investment space. Listen now and learn: 6 methods for incorporating ESG strategies in your portfolio How to define your ESG motives to align with your strategy Why ESG funds don't belong in 401(k) plans Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Peter answers listener questions is this Mailbag Episode Listen now and learn: Why housing is consumption and not an asset How to think about the ideal investment mix for retirement How to prioritize paying down student debt vs investing Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

One of the trickier decisions of saving for retirement is determining which accounts to prioritize with your savings. Is it most important to max out a 401(k) before an IRA? At what point should you use a taxable account for retirement savings? How does debt play into these decisions? This is one of those truly personal finance moments because everyone has different circumstances. Listen now and learn: The ideal order for prioritizing your retirement savings How to utilize the most underrated retirement account A framework for including savings goals beyond retirement Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

As the stock market continues to reach new highs, it's tempting to think about the possibility of buying and selling at just the right moment. Here's a dirty little secret that most of the investment industry doesn't want you to know: Time is more important than timing in investment success. Listen now and learn: The impact of investing at the absolute worst times The difference in returns earned from different timing strategies The secret to timing the market Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

If there is a universal investment ideal, it's that every investor wants to buy low and sell high. Rebalancing does just that. In today's episode, I'm going to explain rebalancing at a high level with some simple examples, point out some practical to challenges rebalancing, and then talk about the best way to rebalance your portfolio. Listen now and learn: The basics of rebalancing Practical challenges, costs, and considerations The pro's and con's of different different rebalancing strategies As an added bonus, Peter shares how to get free access to exclusive research on the topic. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

Inflation has been dominating the headlines for a few months now. With the risk of higher inflation on the way, one might wonder how to invest in such a scenario. After all, growing your hard-earned savings at a rate greater than inflation is the primary reason to be an investor. Listen now and learn: What is inflation and how it impacts you The best investments for inflationary periods When a bad outcome is and isn't the result of a poor decision Plus, Peter answers a listener's question about bond investing in a low-yield environment. Visit www.TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.

We often feel regret when we can clearly envision the alternative paths we didn't take and decide those paths would have been better than the one we ultimately chose. It's particularly easy to see the alternatives after the fact when you are an investor. Winning investments always find their way to the center of attention of financial media, social media, and social interactions. Investing is also highly quantifiable, which can lead us to believe there's always an objectively optimal decision out there. Knowing that there's an optimal choice as well as the opportunity for things to go wrong leads many investors to put a lot of pressure on themselves. In this episode, Peter explains where regret comes from, why we experience it with our portfolio, and what to do about it. Listen now and learn: • Strategies to minimize regret in advance • Common situations where feeling of regret are most likely to impact our investment decisions • When a bad outcome is and isn't the result of a poor decision Plus, Peter answers a listener question about whether the stock market is in a bubble. Visit TheLongTermInvestor.com for show notes, free resources, and a place to submit questions.