#23. Molly Laughter: How to conquer debt and still get ahead.

05/19/20 • 50 min

In this episode, Aaron and Trishul introduce Molly Laughter, a wealth manager from Dallas, Texas. She discusses her history with student debt and how she and her husband paid off about a quarter million in student loans in 6 years. They were even able to consistently increase savings every year to save for a house. Molly then discusses the value of automation, but she also exposes the flip side dangers of wasteful subscriptions and mindless spending. By tracking your spending, you can determine if your money aligns with your goals and your happiness. In the end, Molly reinforces the message that big, immediate changes may be too drastic to stick to, but small incremental changes over time can be more powerful.
Episode References
The Automatic Millionaire by Bach
Mint - Online Budgeting
YNAB - Online Budgeting
Laughter Financial Website
Molly's Blog
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.

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#22. COVID-19 Retrospective: What did you miss?

In this episode, Aaron and Trishul bring everything back to the present. What happened in the markets in the last couple of months? Has the coronavirus curve flattened yet? What were some of the strategies and tactics they implemented with clients? And more importantly, what's going on with their lives and how are they holding up these days? While the market continues to show volatility, it turns out it's their lifestyle changes that have had a bigger impact on their well-being.
Episode References
Recovering from Investment Losses
Closing milestones of the S&P 500
Investing Forever - Market Timing 101
Investing Forever - Coronavirus: What Do We Know Now?
Investing Forever - Recency Bias
Investing Forever - The World's Most Expensive Hobby
Don't Rely on Headlines
Investing Forever - Don't Leave Money On the Table
When (and When Not) to Refinance Your Mortgage
Roth IRA Conversion Rules
Using Tax-Loss Harvesting to Improve Investment Returns
Jackbox Games
Cosmic Kids Yoga
1918 Flu Pandemic
The Best Ways to Give the Gift of Stocks
Naipaul - Half a Life
Murakami - A Wild Sheep Chase
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.

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#24. Always shop around for insurance, and above all avoid these common traps.

In this episode, Aaron and Trishul discuss insurance companies. How do these firms determine their premiums? How much should you pay? And when it might be appropriate to "self-insure"? Aaron and Trishul dig into left-tail risk and the law of large numbers when comparing car insurance to life and long-term care insurance. If something is likely to happen eventually, you can assume the insurance company is going to charge you enough to cover for that event. Insurance policies often fall on a spectrum, with some good, no-brainers on one end, and with some borderline sketchy sales tactics on the other end. But many are in that gray area, where it depends on your individual preferences and circumstances.
Episode References
Tail Risk - Definition
What Are the Odds?
How Many Times Will you Crash your Car?
Term Insurance - Definition
Long-Term Care Insurance Facts
Whole and Universal Insurance - Definition
Avoiding High Insurance Costs by Self-Insuring
Things you Need to Know About Annuities
Investing Forever - Insurance Check-Up
Investing Forever - Stormy Weather
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.