10.24.22 U.S. Treasuries- Update / Meet Yale Professor/Behavioral Economist- JAMES CHOI

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 24 October 2022

⏱️ 36 minutes

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Summary

First an update on the recommendation to buy short term treasuries, including an easy button idea for doing so. And, Clark welcomes special guest, Professor James Choi from Yale University - the behavioral economist behind some striking research around when you should start saving money. He and Clark share ideas on conventional financial advice vs what people actually do - and the gray areas in between. U.S. Treasuries- Update: Segment 1 Ask Clark: Segment 2 Professor Choi- Behavioral Economist: Segments 3 & 4 Mentioned on the show: Buy U.S. Treasury Bonds: A Conservative Way To Beat Your Savings Account If you’re with a discount broker, you can buy their own US Treasury Money Market Fund Google Voice for Business How To Dispute an Error on Your Credit Report and Win Free Flood Check® & How To Avoid Flooded Cars Watch Out for Flood-Damaged Cars from Hurricane Ian What Is an HSA Account and How Does It Work? An economist studied popular finance tips. Some might be leading you astray Clark.com resources Episode transcripts Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is my pleasure to welcome you here at the Clark Howard Show where our mission is
0:08.8	to serve you and empower you so you make better financial decisions in your life.
0:14.7	Today is a special episode.
0:17.5	I have an interview with Professor James Choi from Yale University coming up.
0:23.1	Professor Choi is a behavioral economist and he's done some really, really in-depth dive
0:30.2	on when you should actually start saving money.
0:35.3	His philosophy is really different than mine.
0:39.2	I want you to hear what he has to say.
0:42.5	Before that though, I've got a lot of your questions I'm going to answer.
0:47.0	So I'm going to start by answering as many as I can before I do the interview.
0:52.5	And I've got a really short update for you.
0:57.0	I've talked recently on several occasions about the advantage with cash you have of buying
1:06.8	U.S. Treasuries.
1:08.8	And I've alluded to what a pain in the rear end it is dealing with Treasury Direct.gov
1:16.4	to set up accounts to buy Treasuries.
1:19.4	The way I've described them, they're CDs for rich people.
1:23.5	But you don't have to be rich.
1:25.4	It's just a more complicated process to buy them.
1:29.3	And people have been to put it mildly frustrated slash intimidated by the process of buying
1:37.5	U.S. Treasuries at Treasuries Direct.gov.
1:41.3	And at TreasuryDirect.gov you can buy ultra short term Treasuries that are like ultra short
1:51.2	CDs.
	...

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