Sep 21, 2023
AI is not new and financial mis-education is rife. These are two ideas that form the foundation of this episode, which features insights from Ben Felix, Mark McGrath, and guest speaker Anthony Walsh. To start our conversation, we explore the history of artificial intelligence and what it might mean for the future and beyond. During this Mark to Market segment, Mark McGrath shares his experience of owning property and becoming a landlord before we look back on Episode 155 with Don Ezra, where he revealed his thoughts on planning for life after work. Anthony Walsh, author of People Are Lying To You About Money joins us to discuss his efforts to remedy the lack of financial literacy among everyday people, how he approaches financial planning as a risk-averse person, and his move from lean FI to Coast Fi. He also shares his thoughts on the relative value of money, the importance of planning according to financial wellness and health, and more. Join us today to hear all this and so much more!
Key Points From This Episode:
(0:04:07) The cycles of AI development, excitement, and disappointment in technological history.
(0:15:01) How technology bubbles impact investors and why investing in revolutionary technology is a questionable strategy.
(0:18:50) The paradox of skill and how it applies to investment strategy.
(0:23:40) Mark to Market Segment with Mark McGrath on real estate and rentals.
(0:34:50) Looking back on Episode 155 with Don Ezra on planning for life after work.
(0:37:03) Introducing today’s guest: Anthony Walsh, who wrote People Are Lying To You About Money.
(0:40:17) Four types of lies people tell about money and why most people are financially illiterate.
(0:48:46) How Anthony navigates financial planning as a risk-averse person.
(0:53:25) What motivated his move from Lean FI to Coast FI and the relative value of money.
(0:55:10) The importance of planning according to financial wellness and health.
(0:57:19) The after-show; shows and series your hosts have been watching and a book recommendation.
Books From Today’s Episode:
Irrational Exuberance — https://www.amazon.com/Irrational-Exuberance-3rd-Robert-Shiller-dp-0691166269/dp/0691166269/
People Are Lying To You About Money — https://www.amazon.com/People-Are-Lying-About-Money-ebook/dp/B0BC9M5QQT
Bubbles and Crashes — https://www.amazon.com/Bubbles-Crashes-Boom-Technological-Innovation/dp/0804793832
Links From Today’s Episode:
Reminder on iTunes —
Rational Reminder Website — https://rationalreminder.ca/
Shop Merch — https://shop.rationalreminder.ca/
Join the Community — https://community.rationalreminder.ca/
Follow us on X — https://twitter.com/RationalRemind
Follow us on Instagram — @rationalreminder
Benjamin on X — https://twitter.com/benjaminwfelix
Cameron on X — https://twitter.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Mark McGrath on X - https://twitter.com/MarkMcGrathCFP
Mark McGrath on LinkedIn - https://www.linkedin.com/in/markmcgrathcfp/
Anthony Walsh on LinkedIn — https://www.linkedin.com/in/asw383/
Episode 155 — https://rationalreminder.ca/podcast/155
Episode 268 — https://rationalreminder.ca/podcast/268
Episode 244 — https://rationalreminder.ca/podcast/244
Reasons to Avoid Index Funds — https://www.youtube.com/watch?v=fvGLnthJDsg