Money Expert: Buying A House Is A Mistake! Becoming Rich is Simple But You Won’t Do It!

The Diary Of A CEO with Steven Bartlett

FlightStory

Business, Education, Society & Culture

4.5 • 17.8K Ratings

🗓️ 30 April 2026

⏱️ 102 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Investing has been solved, but your brain is keeping you poor. Money Expert Ben Felix explains why most people make terrible financial decisions! Ben Felix is a Portfolio Manager and Chief Investment Officer for PWL Capital, and evidence-based investing expert who translates academic finance research into practical decisions for everyday people. He is known for using data, behavioral science, and simple frameworks to help people build wealth without falling for the traps of the financial industry. He explains: ◼️Why investing has already been “solved” ◼️How your brain quietly ruins your long-term financial decisions ◼️Why checking your portfolio too often can make you poorer ◼️Why buying a home is not always the smart investment people think it is ◼️Why young people may not need to save as aggressively as they’re told ◼️How to use money to build a better life, not just a bigger bank account ◼️The biggest financial mistakes that destroys your financial future 00:00 Intro 02:34 Why Most People Overcomplicate Finance 03:37 How Your Psychology Secretly Controls Your Investments 05:06 The Real Frameworks Behind Financial Freedom 06:54 Why You Don’t Need Much Money To Start Investing 09:20 The 10 Money Mistakes That Quietly Keep You Broke 12:57 How Monetizing Your Skills Can 10x Your Income 19:46 Why Most People Never Set Financial Goals 20:50 Are You Spending Money In Ways That Actually Improve Your Life? 21:26 Why Taking Investment Risks Matters More Than You Think 25:28 Is Buying A House Actually A Smart Investment Today? 40:48 Why Common Advice About Home Ownership Falls Apart 42:17 Will House Prices Keep Rising? 44:17 How The Wealthy Legally Pay Less Tax 45:09 The Real Tax Strategies The Rich Don’t Talk About 45:45 What Happens Next To Housing Prices? 47:15 Ads 49:18 The Hidden Problems With Financial Advisors 50:21 Why Ignoring Estate Planning Can Cost Your Family Everything 51:17 Do You Really Need A Will? 51:42 How Your Partner Choice Impacts Your Financial Future 52:58 Why Some Financial Advice May Be Working Against You 54:07 Should Everyone Get A Prenup? 56:21 What Your Spending Habits Reveal About Your Future Wealth 58:04 The Real Reason Prenups Matter More Than You Think 01:00:09 Why People Underestimate Catastrophic Financial Risks 01:00:59 Stocks Vs Bonds: Which Is Actually Safer Right Now? 01:07:20 The Financial Products You Should Avoid At All Costs 01:09:23 Why Cash Loses Value Faster Than You Realize 01:10:38 Ads 01:13:33 Do You Really Need A Retirement Plan? 01:15:05 Investments You Should Avoid 01:16:44 Should You Invest In AI? 01:19:36 Crypto: Opportunity Or Risk? 01:21:25 How War Changes Investing 01:24:16 Remortgage Or Invest: Which Move Builds More Wealth? 01:25:32 Will AI Replace Your Job? Follow Ben Felix: Instagram - https://link.thediaryofaceo.com/3Mc4mML X - https://link.thediaryofaceo.com/5XwRueU YouTube - https://link.thediaryofaceo.com/5xRgQd4 Ben's Company - https://link.thediaryofaceo.com/Dd3AJr Enjoyed the episode? Share this link and earn points for every referral - redeem them for exclusive prizes: https://doac-perks.com The Diary Of A CEO: ◼️Join DOAC circle here - https://doaccircle.com/ ◼️Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ◼️The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ◼️The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ◼️Get email updates - https://bit.ly/diary-of-a-ceo-yt ◼️Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Stan - Visit https://coach.stan.store/?ref=stevenbartlett&utm_source=youtube&utm_medium=podcast&utm_campaign=episode4 Pipedrive - https://pipedrive.com/CEO Fiverr - https://fiverr.com/diary and get 10% off your first order when you use code DIARY Wispr - Get 14 days of Wispr Flow for free at https://wisprflow.ai/steven

Transcript

Click on a timestamp to play from that location

0:00.0	You care about helping others learn and grow,
0:03.0	and now you can make an even greater difference.
0:06.0	The Ohio State University's fully online master's in applied behavior analysis
0:11.0	prepares you to help learners with disabilities thrive.
0:14.0	You'll develop the skills to use evidence-based interventions
0:18.0	that enhance learning outcomes and foster independence, all in a
0:22.2	flexible format designed for working professionals. With growing demand for board-certified
0:27.7	behavior analysts, this online program helps you prepare for what's next without pausing your
0:33.6	life. If you're ready to expand your impact, Ohio State is ready to support your next step.
0:40.3	Visit go.osu.edu slash behavior analysis.
0:49.4	Renting versus owning a home is the biggest financial decision most people make in their life.
0:53.3	So we're going to talk about all of the unrecoverable costs of owning a home, including property taxes, maintenance costs, which is the one that I think people underestimate the most. And then there's also emergency costs. I've got the whole stack of them as well as the 5% rule to figure out if renting is a better financial decision. We'll go through that. What else have we got? So this is something that people just don't think enough about, which is the top 10 financial mistakes that I think people make.
1:14.8	For example, tax planning opportunities. Like, there are simple things that people can do to
1:18.9	minimize the amount of tax they're paying. We'll go through those. Ben Felix's firm manages the
1:22.9	money of more than 3,000 people, ranging from people with huge amounts of money and not so much money.
1:29.3	His whole thesis is giving people money advice that is based on academic research.
1:34.3	Our brains, our psychology absolutely gets in the way of making good long-term financial decisions.
1:39.3	And today, we're going to answer the big money questions. Like, what should I invest in?
1:47.6	A lot of people believe they need to have a lot of background information before they can start investing. But I would argue that people who know just a little bit, they will be better
1:51.5	long-term investors. There's a ton of evidence supporting it that this will outperform most
1:55.5	other investment strategies. And also, what is the mentality, the mindset of people that end up making money over the long term?
2:02.9	Psychology is important for determining what your financial goals are. So this is a framework that
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from FlightStory, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of FlightStory and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.