11 Lessons Every Investor Needs to Know with Ben Carlson
#191: Grow your wealth and build a resilient portfolio by making smarter decisions with these 11 investing lessons. Financial advisor Ben Carlson and I share actionable insights on managing risk, overcoming psychological barriers in investing, and the power of simplicity and diversification to ensure long-term, fulfilling financial success.\nBen Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management and the author of four books on investing and personal finance. He runs the popular blog A Wealth of Common Sense, where he shares insights on financial markets and investing strategies. Ben also co-hosts Animal Spirits, one of my favorite podcasts.\nLink to Full Show Notes: https://chrishutchins.com/ben-carlson-money-lessons\n\nResources Mentioned\nBen Carlson:\xa0Website\xa0|\xa0Animal Spirits Podcast\xa0|\xa0X\n\n20 Lessons From 20 Years of Managing Money\n\nMy All-Time High in Savings\n\nYou Probably Need Less Money Than You Think For Retirement\n\nWealthfront Risk Parity Fund | What is Risk Parity?\nJP Morgan: S&P 500 Market Concentration Chart\nFractional Vacation Homes:\xa0Pacaso\nPaula Pant\u2019s Podcast: Afford Anything\nSafe Withdrawals: Free DIY Withdrawal Rate Toolbox | Safe Withdrawal Rate Series\nStudy: Spending Habits of Retirees\nATH Podcast\n\nEp #41: Beating Inflation, Alternative Assets, and Simplifying Your Finances with Ben Carlson\n\n\nEp #59: Save Money, Build Wealth and Just Keep Buying with Nick Maggiulli\n\n\nEp #91: Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins\n\n\nEp #117: Navigating a High Rate Market: Buying a Home, Preparing for a Recession and Where to Put Cash with Ben Carlson\n\n\nEp #168: Building an Investment Portfolio to Grow and Protect Your Wealth with Chris Doyl\n\n\nEp #180: Stocks vs. Real Estate: What\u2019s the Best Investment to Build Wealth?\n\n\nEp #186: 25 Money Rules (and When to Break Them) with Brian Feroldi\n\n\nEp #189: Beyond the 4% Rule: Smarter Strategies for Financial Independence with Karsten Jeske\n\n\nJoin our Newsletter\n\n\nFollow & Review on\xa0Apple Podcasts\n\n\n\nEmail us\xa0for questions, tips, deals and feedback\n\n\nFull Show Notes\n(00:00) Introduction\n(02:30) Experience in Investing Is Not the Same as Expertise\n(03:24) Intelligence Doesn\u2019t Guarantee Investment Success\n(05:42) No One Lives Life in the Long Term\n(07:32) Experiences Shape Your Perception of Risk\n(10:12) The Biggest Risks Are Always the Same yet Different\n(13:29) Optimism Should Be Your Default\n(20:03) There Is No Such Thing as a Perfect Portfolio\n(22:31) Overthinking Can Be Just as Debilitating as Not Thinking at All\n(24:30) How to Think About a Simple Portfolio with International Exposure\n(26:17) Less Is More\n(30:17) Ways to Reduce Overthinking\n(32:02) Tax Loss Harvesting vs. Direct Indexing\n(39:02) Why Ben Wrote a Post on 20 Money Lessons\n(40:11) Lesson #10: There Is a Big Difference Between Rich and Wealthy\n(43:37) The Reason Ben and Chris Invested in Holiday Homes\n(48:27) What's a Reasonable Amount to Save?\n(51:29) You Probably Need Less Money Than You Think for Retirement\n(56:47) The Final Biggest Takeaway\n\nConnect with Chris\nNewsletter | Membership | Twitter | Instagram | LinkedIn\n\nEditor\u2019s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.