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  • A Former OpenAI Researcher Says 70% Chance of Human Extinction -- Here's What to Do With That SB1872

    A Former OpenAI Researcher Says 70% Chance of Human Extinction -- Here's What to Do With That SB1872
    2026/07/24
    A former OpenAI researcher went on Diary of a CEO and said there's a 70% chance AI ends badly for humanity, told his wife they shouldn't have more children because they'd never enter the workforce, and gave up $2 million by refusing to sign a non-disparagement clause to say it publicly. Joe asks Paula Pant, OG, and Jesse Cramer to react -- not as AI experts, but as people who've watched the internet, robots, computers, and cars all supposedly end the economy, and as people who actually know what to do with your money when the world feels uncertain.What You'll Walk Away WithPaula's case for being a negative 10 on the worry scale: why 60% of jobs that exist today didn't exist in 1940, and why AI is more likely to create new categories of work than eliminate work entirelyJesse's case for a four: why knowledge is being commoditized the same way gasoline was -- and what that means if your competitive advantage has always been what you knowOG's framework for separating the parts of your job AI will gladly take from the parts it never will -- and why that distinction is more useful than panicking about either halfThe Jevons Paradox: why making something cheaper almost always creates more demand for it, not less -- and why that applies to patents, legal filings, and every other knowledge-work category people think AI will eliminateSafe, evolving, or replaced: the roundtable verdict on CPAs, software engineers, and customer service reps -- and the Capital One research that reveals why some people actually prefer talking to a machineWhy learning the AI tools right now -- even if you're 58 and four years from retirement -- is the modern equivalent of learning email in 1993JL Collins' line that applies to careers just as much as portfolios: flexibility is the only true securityShould you buy an AI sector fund? OG, Paula, and Jesse each answer -- and the answer that surprised everyone is probably not the one you'd expectWhy OG's Triple Bypass bike race analogy is the best career advice in the episode: if you're always ready, you never have to get readyThe window tax trivia that AI got spectacularly wrong -- proving, on an episode about AI taking all our jobs, that it can't even count windows yetWhy This Matters NowThe fear is real. The timeline is uncertain. And the people most likely to be okay are the ones who are building flexibility into their finances and their careers right now -- not because AI is definitely coming, but because it's always smart to be ready for the thing that might come.From the BasementPaula Pant, OG, and Jesse Cramer react to a former OpenAI researcher's apocalyptic Diary of a CEO interview -- and spend most of the episode arguing about whether to panic, which jobs survive, whether to buy the AI sector fund, and what OG's fighting robot would do to Jesse's house. Doug arrives with window tax trivia that AI generated incorrectly -- which Joe caught just before air -- and handing one of our contributors a huge win. Financial Action Month is coming next week: five episodes, a bingo sheet, and more to come.Resources MentionedDiary of a CEO -- Steven Bartlett interview with Daniel Kokotajlo, former OpenAI researcherTony Robbins interview with Ray Kurzweil -- referenced for additional AI perspective; linked at stackingbenjamins.comAfford Anything episode 693 -- Paula Pant interview with Dr. Ben Zweig on AI and the workforce; affordanything.com/episode693Personal Finance for Long-Term Investors (PFLTI) -- Jesse Cramer; upcoming AMA episode 19 and episode 150 personal AMAAnthropic Skill Jar -- free AI training; referenced by Paula for learning Claude featuresDelivering Happiness by Tony Hsieh -- referenced for the Zappos customer service modelOG financial planning calendar -- stackingbenjamins.com/ogStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins Community -- stackingbenjamins.com/basementSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 10 分
  • Ryan Hawk on How Ordinary People Become Exceptional (And the Actions That Actually Compound) SB1871

    Ryan Hawk on How Ordinary People Become Exceptional (And the Actions That Actually Compound) SB1871
    2026/07/22
    Ryan Hawk arrived at Miami University the day after high school graduation, with a plan to earn the starting quarterback job and make it to the NFL. Two years later, a 6'5" kid from somewhere in Ohio showed up and took the job away from him. That kid turned out to be Ben Roethlisberger. What Ryan did with that moment became the entire foundation of The Learning Leader podcast, one of the most respected leadership shows in the country, and his new book The Price of Becoming. He joins Joe and OG to talk about the habits, frameworks, and daily actions that compound into something exceptional -- and what to do when the plan doesn't survive contact with reality.What You'll Walk Away WithCoach Hepp's three-sentence leadership philosophy that Ryan has never forgotten: have a plan, work the plan, and plan for the unexpectedWhy being told "he gives us a better chance to win than you do" was the most valuable coaching Ryan ever received -- and what it teaches about adding value versus wanting creditThe imitate-then-innovate framework: why The Beatles were a cover band first, why Wayne Gretzky took handwritten notes watching players smaller than himself, and why copying the greats isn't theft -- it's the fastest path to finding your own voiceRyan's first draft pick for becoming exceptional: a five-to-ten minute nightly prompt exercise built around one Charlie Munger question that compounds like a great investmentWhy truth tellers -- people willing to look you in the eye and tell you what you need to hear rather than what you want to hear -- are the most underrated asset in any high performer's lifeThe superpower Ryan has found in every great leader he's interviewed across 11 years and hundreds of conversations: deep, specific curiosity -- and why it's the ultimate form of showing loveSweat more than you watch other people sweat: Scott Galloway's physical discipline framework applied to every area of lifeThe Brock Purdy late-round pick: why bringing a notebook to every meeting -- something almost no intern or young employee does -- is the single easiest way to stand out and learn fasterThe boomerang kids debate: why nearly half of Americans under 30 now live with a parent, when OG thinks it's a great idea, when he thinks you suck, and why it only works if there's a real plan with a real end dateJames from the community: how retiring at 52 let him become his daughter's bank in a hot real estate market -- loan document, market rate, free labor but zero say in the houseWhy This Matters NowThe gap between people who become exceptional and people who almost do isn't talent -- it's the daily actions they're willing to stack. This episode is the practical blueprint for what those actions actually look like.From the BasementRyan Hawk joins Joe and OG to talk about getting benched, the imitate-then-innovate path from cover band to original voice, and the five draft picks that build a great life -- including one that Joe immediately connects to hiding money from himself. The Wall Street Journal's piece on boomerang kids gives OG a platform to explain exactly when it's smart, when it's lazy, and why his kids should not take this as an invitation. Doug arrives with Cleveland trivia and the story of how a newspaper's cheap typesetting permanently changed the name of a major American city. James from the community sends a letter that makes OG quietly admit he was wrong about the appraisal.Resources MentionedThe Price of Becoming: The Compounding Practices of High Performance by Ryan Hawk -- available wherever books are soldThe Learning Leader podcast -- Ryan Hawk; available wherever you listen to podcasts; learningleader.comSteal Like an Artist by Austin Kleon -- referenced for the imitate-then-innovate frameworkSet for Life by Scott Trench -- referenced for Joe's kids; biggerpockets.comBroke Millennial by Erin Lowry -- referenced for Joe's kids; brokemillennial.comWall Street Journal -- "Living With Your Parents Is No Longer Viewed as a Failure to Launch" by Rebecca Picciotto and Nicholas G. MillerStacking Benjamins Field Kit -- stackingbenjamins.com/fieldkitStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201Stacking Benjamins Community -- stackingbenjamins.com/basementSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 12 分
  • How to Get More Free Money From Your 401k (The Moves Most People Never Make) SB1870

    How to Get More Free Money From Your 401k (The Moves Most People Never Make) SB1870
    2026/07/20

    An alarming number of people have access to a 401(k) and are either not using it, not getting the full employer match, or not making the simple moves that turn a good account into a great one. Joe and OG dedicate a full episode to the retirement account that most people take for granted -- covering contributions, matching, investment selection, Roth versus traditional, and the specific decisions that separate people who retire comfortably from people who almost got there. Plus wins from the Stacker community and trivia that will make you the most dangerous person at your next dinner party.

    What You'll Walk Away With

    • Why the employer match is the single highest guaranteed return available to any investor -- and the specific contribution level that captures every dollar of it
    • Roth 401(k) versus traditional 401(k): the one question that cuts through all the noise and tells you which one to use right now
    • Why your investment menu feels overwhelming and how to make a great choice in under five minutes using one simple filter
    • The auto-escalation feature most people never turn on -- and why setting it up once can add tens of thousands of dollars to your balance without you doing anything else
    • What to do with your 401(k) when you leave a job: the four options, which one is almost always wrong, and which one most people choose anyway
    • Why contribution limits are higher than most people think -- and the catch-up contribution that becomes available at 50 that most people in their 40s don't know to plan for
    • The vesting schedule trap: why your employer match might not actually be yours yet -- and what that means for anyone thinking about leaving their job
    • Why 403(b) and 457 plans follow most of the same rules -- and the one unique advantage the 457 has that almost nobody knows about
    • OG on the single most common 401(k) mistake he sees in client portfolios -- and how long it typically takes to fix
    • Stacker wins from the community: the specific moves people made this month that are already paying off

    Why This Matters Now

    Every year you don't optimize your 401(k) is a year of compounding you don't get back. The moves in this episode are not complicated -- but most people either don't know about them or keep putting them off. This is the episode to send to anyone who has a 401(k) and has never really looked at it.

    From the Basement

    Joe and OG celebrate the 401(k) in mom's basement while OG recovers from completing the Triple Bypass -- a Colorado cycling event that covers three mountain passes and approximately all of the elevation gain in the western hemisphere. OG's wife asked if he'd do it again. He answered with a childbirth analogy. Doug arrives with trivia that will be re-shared all week. The community delivers wins that prove the system works.

    Resources Mentioned

    • Stacking Benjamins Basics Guide -- stackingbenjamins.com/basicsguide
    • Stacking Benjamins Field Kit -- stackingbenjamins.com/fieldkit
    • Stacking Benjamins BAD Groups -- stackingbenjamins.com/bad
    • Stacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201
    • OG financial planning calendar -- stackingbenjamins.com/og
    • Stacking Benjamins Community -- stackingbenjamins.com/basement


    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 15 分
  • Who Should You Trust With Your Money? (Friends, Family, Experts, AI, and Bad Advice) SB1869

    Who Should You Trust With Your Money? (Friends, Family, Experts, AI, and Bad Advice) SB1869
    2026/07/17

    A Wall Street Journal story about a 17-year-old helping his family with financial decisions kicks off a much bigger Stacking Benjamins question: who should you actually trust with your money? Joe, Doug, Paula Pant, Jesse Cramer, and special guest Roger Whitney dig into where great advice comes from, why bad advice often comes from people who love you, and how to build a better filter before you act. Along the way, they talk books, podcasts, family advice, AI, confirmation bias, homebuying myths, index funds, retirement plans, and why "smart" isn't enough.

    What You'll Walk Away With

    Why Roger says "advice" has a high bar: real advice should apply to your specific life, not just sound smart in public

    The difference between information and advice -- and why confusing the two can lead you into trouble

    Why books often beat random internet advice: they usually have more vetting, structure, and accountability

    How well-meaning friends and family can still give terrible money advice when they speak confidently about things they don't really understand

    Paula's advice pyramid: avoid people who profit from outrage, be skeptical of people with no accountability, and seek sources with both expertise and vetting

    Why AI can be useful as a sparring partner, but not as a substitute for your own thinking or fact-checking

    The danger of "always" and "never" advice: always buy a house, always max your 401(k), never finance a car, always buy index funds

    Why renting isn't automatically throwing money away -- and how the price-to-rent ratio can help you think more clearly

    Why maxing out your workplace retirement plan may not always be the right move, especially when tax flexibility, business investment, or other goals matter more

    How confirmation bias, present bias, and absolute certainty can fool you into believing your plan is stronger than it is

    What to look for in your personal board of directors: people you respect, people with a high signal-to-noise ratio, and people who are kind enough to tell you the truth

    Why Roger says a kind person is better than a merely nice one when you need real feedback

    Why This Matters Now

    Financial advice is everywhere: podcasts, books, TikTok, AI, coworkers, relatives, advisors, and confident strangers with strong opinions. The hard part isn't finding advice. It's knowing which advice deserves your attention. This episode gives Stackers a filter for separating useful guidance from noise before the wrong voice gets too close to their money.

    From the Basement

    Joe uses a Wall Street Journal piece about a teenage family financial advisor to launch a bigger card-table debate with Paula Pant, Jesse Cramer, and Roger Whitney. The crew builds a money-advice pyramid, debates which financial rules should be ignored, and explores when to trust yourself versus when to bring in your board of directors. Doug celebrates Art Linkletter with Game of Life trivia, Paula admits she's never played it, and OG's trivia lead might get a little more uncomfortable.

    Resources Mentioned

    The Wall Street Journal piece by Oyin Adedoyin about a 17-year-old helping his family with financial decisions

    Roger Whitney -- The Retirement Answer Man podcast

    Paula Pant -- Afford Anything podcast

    Jesse Cramer -- Personal Finance for Long-Term Investors podcast

    Seth Godin -- Linchpin

    Thomas Stanley and William Danko -- The Millionaire Next Door

    Robert Kiyosaki -- Rich Dad Poor Dad

    Robert Cialdini -- Influence

    Richard Feynman -- Surely You're Joking, Mr. Feynman!

    Beth Kobliner -- referenced as an upcoming Afford Anything guest

    Stacking Benjamins Newsletter, The 201 -- stackingbenjamins.com/201

    Stacking Benjamins YouTube channel -- youtube.com/stackingbenjamins

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 12 分
  • What History Tells Us About Crypto, Real Estate, and Every Other Financial "Truth" (with Dr. Joseph Moore) SB1868

    What History Tells Us About Crypto, Real Estate, and Every Other Financial "Truth" (with Dr. Joseph Moore) SB1868
    2026/07/15
    In the 1800s, the smartest financial advice your grandparents could receive was: don't save money, because it will probably go to zero. Stocks were considered scams. Real estate was the only real path to wealth. Crypto isn't the future, it's a replay of something that happened dozens of times before the Civil War. Dr. Joseph Moore is a historian, a New York Times bestselling author, and someone who has spent his career proving that what always worked was always changing. His book is How to Get Rich in American History, and this conversation will make you rethink at least three things you currently believe about money.What You'll Walk Away WithWhy grandparents in the 1800s told their grandchildren never to save money -- and why that advice was completely rational at the timeThe crypto-as-past argument: why self-issued currencies have existed since before the Civil War, why they all eventually went to zero, and what the one thing is that actually made the US dollar trustworthyWhy stocks beating bonds in the long run is only true since World War II -- and what that means for treating any historical financial truth as permanentThe go-ahead philosophy: why Americans used to define success as actively moving forward rather than passively not falling behind -- and why that shift in language reveals something importantWhy financial gurus get a worse reputation than they deserve -- and the German economist's study that showed Dave Ramsey alone has saved the US economy the GDP of a mid-sized nation stateThe FIRE movement isn't new: the original four-hour workday, a man with Ten Acres Enough in 1850s New Jersey, and what the Nearings' Vermont maple farm story actually teaches about the selling of early retirementFast time versus slow time: why the financial media is paid to tell you it's always fast time, why it's almost never fast time, and how to know the difference when it actually mattersWhy the 4% rule and the safe withdrawal rate are research findings worth knowing -- and exactly why building a 30-year financial plan around a fixed number is still a mistakeFive first-half 2026 lessons from the Stacking Benjamins mentor vault: creativity, adversity, mistakes, the go-ahead mindset, and compoundingThe compounding belief problem: why OG's framework for trusting the math you've already lived is the most underrated motivational tool in personal financeWhy This Matters NowEvery financial truth that feels permanent right now -- index funds always win, real estate always appreciates, crypto is either the future or a scam -- is newer than you think and more conditional than it sounds. The investors who build real flexibility into their plans are the ones who survive when the conditions change. And the conditions always change.From the BasementDr. Joseph Moore joins Joe and OG to pick fights with crypto, passive income, real estate mythology, Napoleon Hill, and the entire academic finance establishment -- while making the case that financial gurus, properly understood, have done more measurable good for American wealth than all the finance professors combined. OG is in Colorado acclimating for a bicycle climb that has Doug genuinely concerned about whether a financial co-host counts as a dependent. Doug arrives with trivia tied to today's birthday that connects Nintendo's origins to something nobody expected. Five mentor highlights from the first half of 2026 close the episode -- including clips from George Newman on creativity, Jim Murphy on adversity, Bola Sokunbi on surviving a very expensive rollover mistake, Beth Kobliner on why young people are gambling instead of saving, and Cody Berman on the compounding moment that changes everything.Resources MentionedHow to Get Rich in American History by Dr. Joseph Moore -- New York Times bestseller; available at bookstores and on Amazon; josephmoore.comInner Excellence by Jim Murphy -- referenced for mental strength and adversity; available wherever books are soldClever Girl Finance -- Bola Sokunbi; clevergirlfinance.comAfford Anything podcast -- Paula Pant; referenced in first-half mentor recapRetire by 30 by Cody Berman -- retireby30book.comGet a Financial Life by Beth Kobliner -- referenced in first-half mentor recapStacking Benjamins Field Kit -- stackingbenjamins.com/fieldkitStacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201; write Joe at joe@stackingbenjamins.com with your favorite first-half lessonStacking Benjamins Community -- stackingbenjamins.com/basementSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 21 分
  • Did You Miss the Small Cap Rally? What the First Half of 2026 Taught Every Investor (SB1867)

    Did You Miss the Small Cap Rally? What the First Half of 2026 Taught Every Investor (SB1867)
    2026/07/13

    Small company stocks were up nearly 22% in the first six months of 2026. Emerging markets were up 24%. Meanwhile, plenty of people sat on the sidelines convinced those asset classes were dead, chased last year's winners, or just didn't know what they owned. Joe, OG, and Len Penzo break down the first-half scorecard, explain why the lesson isn't about timing -- it's about diversification -- and walk through what an investment policy statement actually is and why having one would have kept most people out of trouble.

    What You'll Walk Away With

    • The first-half 2026 scorecard: Russell 2000 up 21.9%, MSCI Emerging Markets up 24%, S&P 500 up 9.6%, and why the breadth of the rally matters more than the headline number
    • Why OG's one-sentence takeaway -- "the plan always works" -- is both right and incomplete, and what Len's personal experience this year adds to the conversation
    • What an investment policy statement actually is: the one-page written decision tree that protects you from making bad moves when markets spike or crash
    • Why the market closes at an all-time high roughly 30% of the time -- and what that means for the "I'm waiting for it to come down" crowd
    • How to x-ray your portfolio: the specific inventory OG recommends taking before you make any changes
    • Why you should rebalance all at once rather than filling in holes slowly -- and the one asterisk that applies before you do anything in a taxable account
    • Len on the mining sector: why GDX returned 154% last year and is down 10% this year -- and exactly what that pattern teaches about chasing returns
    • Why trying to explain your investment plan to another human being is the best stress test you have
    • The allowance micro-economy problem: what happens when you pay kids per task and they start pricing everything in units of dog poop
    • Jessica's win from the Basement: how one Stacker helped her 25-year-old cousin sign up for her first 401(k), get the full company match, and choose index funds

    Why This Matters Now

    The second half of 2026 starts now. If you don't know what you own, why you own it, or what you'd do if it dropped 30%, this is the episode to act on before the next six months get away from you.

    From the Basement

    Joe, OG, and Len Penzo review the first half of 2026, build a case for why diversification beats prediction every time, and explain what an investment policy statement is and how to write one. Doug celebrates the Hollywood sign's origin as a real estate advertisement and shares two things social media actually taught us -- including a TikTok comedian voicing the thoughts in Mark Zuckerberg's ear during a very long beef discussion. Len's annual sandwich survey is about a month away. True Money Stories is climbing the Amazon charts.

    Resources Mentioned

    • True Money Stories by Len Penzo -- available on Amazon; lenpenzo.com
    • Len Penzo dot com -- lenpenzo.com; 3,000 articles, 18 years of personal finance writing
    • Stacking Benjamins Field Kit -- stackingbenjamins.com/fieldkit
    • Stacking Benjamins Newsletter (The 201) -- stackingbenjamins.com/201
    • Stacking Benjamins Community -- stackingbenjamins.com/basement
    • OG financial planning calendar -- stackingbenjamins.com/og

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間
  • Can You Save Too Much? Finding the Sweet Spot Between FI, Spending, and Life (SB1866)

    Can You Save Too Much? Finding the Sweet Spot Between FI, Spending, and Life (SB1866)
    2026/07/10

    Today's show asks one of the trickiest questions in personal finance: when does a good habit go too far? Saving is great. Cutting expenses can change your life. Earning more can open doors. But what happens when you optimize so hard that you accidentally squeeze the joy out of the whole plan? Joe, Doug, Diana Merriam from EconoMe, New York Times financial writer Paulette Perhach, and Doc G from Earn and Invest dig into the messy middle between YOLO and never spending a dime. Plus, Doug brings hockey trivia, the panel talks odd jobs, and everyone tries to define what "enough" actually means. You'll see very quickly why this episode is an integral part of greatest hits week!

    What You'll Walk Away With

    Why reducing expenses works best when it removes waste -- not when it turns your life into a deprivation contest

    Diana's throw-pillow test: how to ask whether you actually want something or just inherited the idea that you're supposed to want it

    The difference between frugal and cheap -- and why ironing hotel toast or stealing dealership coffee might be a sign you've crossed the line

    Why Doc G says saving money is only useful if it eventually becomes fuel for the life you want to live

    The case for "YOLO responsibly": automate the saving first, then give yourself room to spend without turning every purchase into a morality play

    Why high savings rates can be powerful in your 20s -- especially when friends turn frugality into a shared goal instead of social isolation

    Paulette's reminder that money habits aren't just math; ADHD, dopamine, entrepreneurship, and self-compassion can all change how saving feels

    Why earning more often matters more than cutting more -- and how Diana's denied raise helped push her toward building her own thing

    Doc G's hospice-doctor warning: nobody gets to the end wishing they had worked more nights and weekends to hit a slightly bigger net worth

    Why Coast FI may be the healthier goal for some people: save enough to create options, then stop tolerating work or lifestyles that no longer fit

    The guardrails idea: avoid both extremes -- wasting your future and wasting your present

    Why This Matters Now

    It's easy to turn personal finance into a scoreboard: lower expenses, higher savings rate, bigger income, faster FI date. But the real goal isn't winning the spreadsheet. It's building a life that feels secure, flexible, and worth living while you're still living it. This conversation is a reminder to use money as a tool, not a dare.

    From the Basement

    Joe Saul-Sehy gathers a rare Friday card table with Diana Merriam, Paulette Perhach, and Doc G to talk about saving too much, spending too much, working too hard, and finding the middle before the middle finds you. Doug is salty about not going to FinCon, the panel debates FIRE extremes, someone brings up homemade Gatorade, and the trivia question involves hockey nets. No word yet on whether Mom has removed the throw pillows upstairs.

    Resources Mentioned

    MrStingy.com -- "Too Much of a Good Thing: Taking It Too Far"

    Diana Merriam -- EconoMe Conference; economeconference.com

    Diana Merriam -- Optimal Finance Daily

    Paulette Perhach -- pauletteperhach.com

    Paulette Perhach -- New York Times personal finance writing, including ADHD and money

    Doc G / Jordan Grumet -- Earn and Invest podcast

    Doc G -- Wealth with Purpose

    The Fioneers -- referenced in the lifestyle design conversation

    Frugalwoods -- referenced during the throw-pillow/minimalism discussion

    Stacking Benjamins Newsletter, The 201 -- stackingbenjamins.com/201

    Stacking Benjamins Community, The Basement -- stackingbenjamins.com/basement

    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 1 分
  • Scott Galloway's Algebra of Wealth: Build Money, Meaning, and Stop Comparing Yourself to the S&P500 (SB1865)

    Scott Galloway's Algebra of Wealth: Build Money, Meaning, and Stop Comparing Yourself to the S&P500 (SB1865)
    2026/07/08
    Scott Galloway doesn't do soft-pedal advice. In this Greatest Hits conversation, the NYU professor, entrepreneur, investor, and author of The Algebra of Wealth joins Joe to talk about why building wealth is less about chasing passion, picking the perfect stock, or waiting for retirement -- and more about focus, discipline, diversification, time, and relationships. Before that, Joe and OG dig into a 401(k) lawsuit involving AllianceBernstein and why comparing your portfolio to the wrong benchmark can send your plan sideways. Later, Alex calls in with a big early-retirement question: how do you access retirement money before age 59 and a half without triggering penalties?What You'll Walk Away WithWhy Scott Galloway says money is not the story -- it's the ink in the pen that can help you build deeper relationships with less anxietyThe "follow your passion" problem: why Scott believes young people should look first for talent, certification, and industries where they can become excellentWhy boring careers can create extraordinary lives -- especially when they offer income, stability, and room to build optionsScott's wealth equation: focus, stoicism, diversification, and time -- and why each piece matters more than trying to look brilliant for one lucky momentThe savings muscle: why measuring spending, gamifying saving, and surrounding yourself with the right people can change behavior faster than good intentions aloneWhy diversification is financial Kevlar -- it may not make you look like a hero, but it can keep one bad investment from becoming a fatal woundThe retirement myth Scott wants to burn down: why the goal isn't necessarily to stop working, but to make work a choice instead of a trapThe 401(k) benchmarking lesson: why Joe and OG say your benchmark should be your goal, not whichever index happened to win over the last decadeWhy chasing the S&P 500 because it recently crushed everything else can become dangerous when you forget that market leadership rotatesWhat the AllianceBernstein lawsuit teaches participants: ERISA protects against imprudence, not against every disappointing stretch of market performanceAlex's early-retirement question: the difference between accessing 401(k) money after separation from service at age 55 and using SEPP rules before thenWhy substantially equal periodic payments can work -- but also why OG says you want experienced help before touching those rulesWhy splitting IRA assets into separate buckets may create more flexibility for early-retirement income planningWhy This Matters NowA lot of people want the shortcut: the best stock, the best index, the perfect retirement number, the magic career move. Scott Galloway's message is more durable than that. Build skills. Save consistently. Avoid lifestyle traps. Diversify. Give time room to work. Keep the people around you strong. That's not flashy, but it is the kind of advice that still works when the market, the economy, and your life refuse to cooperate.From the BasementJoe and OG start with a retirement-plan lawsuit that turns into a bigger conversation about how Stackers should judge their own portfolios. Then Scott Galloway pulls up a chair at the card table to talk about wealth, work, saving, relationships, his mom, Sizzler, bourbon, Tom Petty, and why you don't need to be a hero to build real financial security. Doug brings trivia about the first camera phone, plus a few modeling notes of his own. Later, Alex asks how early retirees can tap retirement accounts before 59 and a half, and the basement joke-off marches toward its dramatic, deeply mathematical conclusion.Resources MentionedScott Galloway -- The Algebra of WealthStacking Benjamins Newsletter, The 201 -- stackingbenjamins.com/201OG financial planning calendar -- stackingbenjamins.com/ogStacking Benjamins voicemail line -- stackingbenjamins.com/voicemailStacking Benjamins Community, The Basement -- stackingbenjamins.com/basementStacking Benjamins YouTube channel -- youtube.com/stackingbenjaminsInvestmentNews article by Emil Halasz on the AllianceBernstein 401(k) lawsuitJL Collins -- The Simple Path to WealthPaul Merriman and Peter Mallouk -- referenced during the benchmarking and diversification discussionIRS Rule 72(t) / SEPP rules -- referenced for early retirement account withdrawalsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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    1 時間 7 分