25: Paul Merriman: 12 Investment Decisions Guaranteed to Change Your Financial Future
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 26 October 2016
⏱️ 94 minutes
🧾️ Download transcript
Summary
Paul Merriman is an internationally recognized authority on mutual funds, index investing, asset allocation modelling and buy-and-hold strategies. He has over 50 years of investing and advising experience and we are stoked to be able to tap into his wealth of knowledge. Although Paul is “retired” he is as busy as ever, educating people of all ages on how to take investment decisions into their own hands. On this killer episode, we discuss one of his books “101 Investment Decisions Guaranteed to Change Your Financial Future” and break it down into the 12 top points. On each point, Paul explains the decision in detail and gives us advice on how to apply this practically to our own portfolios. This is a great episode for all levels of investing experience.
Relevant links:
Pauls website - http://paulmerriman.com/
Recommended Books:
Paul Merriman - 101 Investment Decisions
Tony Robbins - Money Master of the Game
Discussed:
Five Steps to More Money, Less Risk and More Peace of Mind - https://youtu.be/P552ZhCxnrE
Time Stamp - Topic:
02:30 - Retirement home in Mexico
09:00 - How Paul started with finance
13:25 - Choosing to save vs. spend
20:26 - Making 16% interest on a CD
23:40 - Long term investing with stocks over bonds
29:40 - One stock vs. many stocks
33:20 - Stockbroker story selling
34:38 - Investing like a multi-millionaire
37:00 - Thoughts on Tony Robbins Money Master of the Game
40:15 - Personal picks or hire an expert
42:27 - Load funds vs. no-load funds
48:40 - Operating mutual funds with high expenses vs. low expenses
54:20 - High taxes, low taxes and no taxes with a Roth IRA / 401k
57:40 - Managing active and passive index funds
59:57 - Total market fund vs. Total market + value and small cap
1:02:30 - Using you select funds or target date funds
1:04:20 - 100% Target date funds vs. target date and adding small cap value
1:08:00 - Do you trust Wall Street, Main Street or University Street academics?
1:13:22 - Are international stocks necessary?
1:15:55 - Financial advisory hiring strategy
1:18:20 - Paul’s future asset allocation model
Transcript
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| 0:00.0 | Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. Join us each week for exclusive interviews with our network of modern investors, business owners, and multi-millionaires to discover new ways to invest our hard-earned cash. Hey, everyone, this is Johnny and welcome to episode 25 in the Best Like a Boss podcast. I am Johnny FD. |
| 0:23.9 | And I'm here with my buddy Sam Marks. How are you doing? Hey, I'm good, good, good, good to hear from you again, Johnny. Where are you at now and where are you coming from? |
| 0:31.9 | So I have been in Hawaii for the last week and I am in L.A. for just one day. I'm actually sitting in front of a Pete's coffee in L.A. in front of my favorite neighborhood. It's called Larchmont Village. It's an amazing place. If you guys ever go to L.A., this is kind of like the spot to hang out. Is it near the coast or is it inland? It's inland. It's kind of like near the, I would, so it's kind of like near Melrose |
| 0:56.7 | if you ever hang out there. So Johnny, last week we had on Sam the Financial Samar and he was |
| 1:02.7 | talking about how amazing Hawaii was and you were just out in Hawaii. So what's your take? |
| 1:07.0 | Hawaii is amazing. I would say it's just as good as Thailand. It's beautiful. It has a lot of perks of being in like the mainland U.S., you know, like and being in, you know, California. As in you can get whatever you want. There's, you know, Walmart, whatever. I guess if you want to buy something, it's pretty easy. And even companies will actually, |
| 1:27.8 | like a lot of companies will ship there, like Amazon will ship there. I had to get a pair of |
| 1:31.3 | sandals overnighted there because I left him in Vegas. It was crazy. I got a package. I went to the front desk. I'm like, you know, do you have an overnight FedEx package for me? It's really important. and they open it up and it's a pair of Luna sandals. |
| 1:44.9 | Well, you get all the good stuff of the USA, |
| 1:47.0 | but you still get the island life. important. And they open it up and it's a pair of Luna sandals. |
| 1:49.0 | Well, you get all the good stuff of the USA, but you still get the island life and tropical feeling of Southeast Asia. So I guess it's the best of both worlds in a sense, yeah? |
| 1:53.6 | Yeah, definitely. The only problem with it is it's literally three or four times a price of being in Thailand. |
| 1:59.4 | So there's almost the price you pay to import every single thing into the area. Exactly. So where are you now, actually? I'm in Jacksonville, Florida. I just came from South Carolina. And I'm going to be in Florida and the Caribbean for the next couple of months, I think. I'm going to do a little bit of sailing. And it's good to be back at the state side for a little bit. It's been about a year and appreciate the banter and the camaraderie and seeing old friends. And, you know, the political stuff is pretty crazy. I got to say, but it definitely keeps things interesting as well. Yeah, definitely. So it's been nice being back. If anything, just to kind of remind me of what more or more life is, what I'm kind of missing out on, as well as what I'm not |
| 2:39.9 | missing out on. So it's kind of a good to weigh the pros of balances. So I am actually really |
| 2:45.7 | excited for this week's guest because Paul Merrimam is 73 I believe and he's retired and he really just |
| 2:53.2 | likes sharing you know his his journey on how to be able to retire wealthy you know how to |
| 2:59.2 | be able to retire smart and I think it's so needed because most people have no idea what |
| 3:04.1 | they're doing it's funny I just went to the Chase Bank this morning to get my, to get a cashiers check for my Thai |
| 3:11.8 | visa. |
| 3:12.3 | And the guy looked at my account. |
| 3:14.0 | He's like, oh, you qualified for our private banker program. |
| 3:17.1 | Because I think I had over 100 grand in cash in the account. |
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