Money Talks: Is Pop Finance Rubbish?

Slate News

Slate Podcasts

News, News Commentary, Politics

4.5 • 6K Ratings

🗓️ 30 January 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In an off-week bonus episode of Money Talks, Felix Salmon, Emily Peck, and Elizabeth Spiers chat with Yale finance professor James Choi, who has cross-referenced the advice of more than 50 pop finance books with actual economic theory. How much should you save in your 20s and 30s? Should you put your money in a savings account or the stock market? Is it bad to change your retirement plan? James Choi spills the finance tea! If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get an ad-free experience across the network and an additional segment of our show every week. You’ll also be supporting the work we do here on Slate Money. Sign up now at slate.com/moneyplus to help support our work. Podcast production by Jared Downing and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome to Money Talks from Slate Money.
0:16.0	This is a really special one.
0:17.8	I'm Felix Hammond of Axios, but this is actually all three of us.
0:21.5	Me, Emily Pick of Axios
0:24.7	Hello Elizabeth Spires of New York Times and Slate and various other places
0:29.3	Hello we are all going to talk to James Choi.
0:32.8	James, you are a professor at Yale.
0:36.2	What do you profess?
0:38.0	I profess finance and when people ask me,
0:41.5	what do you study? I say that I study dumb things people do with their money.
0:45.6	You wrote a fantastic paper where you tried to work out what it is that personal finance books are saying and then compared it to what the economic
0:56.5	orthodoxy says. There's a bunch of stuff that the personal finance orthodoxy might have got wrong. We're going to find out all about it coming
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