The Financial Benefits of Optimism, with Michelle Gielan
Afford Anything | Make Smart Money Choices
Paula Pant | Cumulus Podcast Network
4.7 • 3.6K Ratings
🗓️ 24 February 2021
⏱️ 63 minutes
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Summary
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| 0:00.0 | You can afford anything but not everything. |
| 0:11.3 | Every choice that you make is a trade-off against something else. |
| 0:14.3 | And that doesn't just apply to your money. |
| 0:16.2 | That applies to your time, your focus, your energy, your attention, anything in your life |
| 0:21.6 | that is a scarce or limited resource. |
| 0:23.9 | And that opens up two questions. |
| 0:25.5 | Number one, what matters most? |
| 0:27.6 | That number two, how do you align your daily, weekly, and annual decisions in a way that |
| 0:33.5 | reflects that? |
| 0:35.5 | Answering those questions is a lifetime practice, and that's what this podcast is here to |
| 0:39.6 | explore. |
| 0:41.0 | My name is Paula Pant. |
| 0:42.0 | I am the host of the Afford Anything Podcast. |
| 0:44.6 | We talk often about how investing is not the study of finance. |
| 0:49.6 | Investing is the study of behavior. |
| 0:52.2 | And every aspect of your investor behavior, from your contributions to your asset allocation, |
| 0:58.4 | to whether or not you panic and buy on the dip, all of those elements of your behavior |
| 1:03.1 | have a far greater impact on your investment returns than any hypothetical movement of decimal |
| 1:09.9 | points on a spreadsheet ever will. |
| 1:12.5 | Mastering money is mastering emotion, behavior, habit. |
| 1:16.5 | And it is for that reason that I prioritize speaking with people from the behavioral |
| 1:21.8 | fields, whether that's behavioral economists or psychologists whose work intersects with |
... |
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