The Mind Money Spectrum Podcast

Bring on 80% unemployment!In this episode, David Shapiro joins Trishul and Aaron to discuss AI and the Fourth Industrial Revolution. Where are we now with technology and society, and where are we going? What is the future of AI at the individual, corporate, and state levels? How does AI affect different jobs? How does AI interact with capitalism in America? If 80% of society is unemployed, how do individuals and society thrive?Episode ReferencesDavid Shapiro YouTubeMMS #135. Aaron and Trishul discover the meaning of life.MMS #131. We don't need no education.MMS #121. The robots are here! Now what?MMS #122. The robots are here! Seriously, now what!?MMS #123. I, for one, welcome our new AI robot overlords.MMS #126. The robots are here! Are humans finished?MMS #27. Can a Universal Basic Income really pay for itself?IkigaiPerplexitySelf-Determination TheoryLiving DeliberatelyAaron 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.

If a Tesla robot can fold your laundry (and do all the other chores), how do you spend your time? What do you take pride in?In a world where robots handle our chores, what becomes of human time? How should we guide children into adulthood? Aaron and Trishul explore these questions, delving into Maslow's Hierarchy of Needs. They contrast the past, where activities fulfilled both basic and self-fulfillment needs, with a future where self-esteem must be cultivated separately from safety and security. With all needs provided for, the quest becomes: How do we discover our purpose? And crucially, how do we impart this quest for purpose to the next generation?Episode ReferencesMMS #3: Does money buy happiness?What is the Rabbit?Maslow's Hierarchy of NeedsTesla Robot Folding ShirtAaron 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.

Stuff is cheap. You should spend more on experiences.In this episode, Trishul and Aaron dive into the world of "stuff." They reflect on their spending patterns and attitudes towards material goods versus life-enriching experiences. As the affordability of items increases, they explore strategies to avoid overconsumption, considering not only the physical space it occupies but also its broader impact on life. They propose a thought-provoking idea: true wealth comes from desiring less than what you own, understanding that no quantity of material possessions can surpass the happiness brought by appreciating what you already have.Episode ReferencesMMS #3: Does money buy happiness?MMS #65: The most important financial advice in your 20'sMMS #112: Here's why you need to spend moreAaron 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.

How do you navigate the emotional landscape of deciding whether to sell or hold stock when there's no pressing financial goal guiding your choice?In this episode, Aaron explores a unique situation: a client facing an IPO without needing to sell stock for their lifestyle. Trishul weighs in with the concept of 'homo economicus' and frameworks for handling concentrated stock positions. They delve into the emotional journey of such financial decisions. What's the impact of holding onto stock through a crash, or selling it and seeing it soar? Join us for a deep dive into the complex interplay of finance, emotion, and life-changing choices.Episode ReferencesMeg Bartelt - Giant Pile of Company StockWhat to do after a windfall?Homo EconomicusGraystone Advisor: Buying Stocks For FunAaron 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.

W-2 employees can still have an entrepreneurial mindset, right?In this episode, Trishul and Aaron examine mechanical differences between W-2 employees and self-employed individuals, including contractors. While W-2 employees get several benefit-related decisions made for them, they also have to take the employer's choices. A psychological growth mindset can help. Do you prefer "Entrepreneur's GET to figure everything out for themselves" or "Entrepreneurs HAVE to figure out everything for themselves"? The world may be moving towards the latter whether you like it or not.Episode ReferencesMMS #129: Ideal day, week...and societal expectations?Motley Fool: 1099 vs W-2Forbes: W-2 vs 1099Neil deGrasse Tyson: Let the kid grab the eggQuickbooks: 1099 vs W-2Kitces: S-Corp reduces self-employment taxesAaron 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.

Education is designed to produce employees, not entrepreneurs.In this episode, Aaron and Trishul reflect on whether their advice applies to most people. Not everyone can structure their calendars like small business owners. For those who are hard-working and ambitious early in their careers, there are a few different ways to enact a mindset shift to allow them to pursue the freedoms they want in life. Trishul further argues that our current education system pushes students towards being a cog within a large organization and that a better education system might allow more people to pursue their passions earlier in life.Episode ReferencesMMS #129: Ideal day, week...and societal expectations?MMS #130. Manage expectations to cultivate your ideal year.Jeff Sandefer TED TalkHow to Seek Validation from WithinThe Gap and the GainAdam Smith The Wealth of NationAaron 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.

Ideal year and managing expectations.In this episode, Trishul and Aaron continue the exercise of "Ideal Day, Week, and Year." Aaron clarifies his thoughts regarding the differences between his ideal day and week. They discuss the relationship between discipline and freedom and how embracing both allows you to find a balance. They end up discussing how underpromising and overdelivering are more important than filling up your plate while acknowledging that this is easier said than done, especially for entrepreneurs compared to W-2 employees.Episode ReferencesMMS #129: Ideal day, week...and societal expectations?MMS #15. George Kinder: Three life questions that will change everything. MMS #18. Why happiness is not the answer to your problems.US News: Year Round School CalendarBohr QuoteAaron 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.

Ideal day, week, and year...but really why life is so hard.In this episode, Aaron and Trishul begin an exercise to imagine their ideal day, week, and year. What does your perfect Monday look like? What might be too much for every day but sensible for once a week? They discuss the reasons why their model day feels so good. But then, they delve into competing societal pressures and soon uncover the challenges around putting an ideal day into action.Episode ReferencesMMS #15. George Kinder: Three life questions that will change everything. MMS #18. Why happiness is not the answer to your problems.MMS #7. The impact of friends, family, and communities on happiness.Neuroscientist 'These 5 Things Will Improve Your Life Drastically'George Kinder's Step-by-Step Guide: How to Develop a Life Plan and Live into Your Dreams of FreedomAaron 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.

Understanding mutual fund share classes helps transparency in financial services.In this episode, Trishul and Aaron discuss mutual fund shares classes and the evolution of mutual funds over the last forty years. They describe how stock brokers transitioned to financial advisors and how the Internet improved investor education. Consumer demand and aligned incentives fostered the rise of fee-only investment advisers more than regulatory requirements. ETFs are not necessarily better than mutual funds if you understand how they work and where they came from.Episode ReferencesMMS #11. In the active vs. passive debate, fees and taxes matter more than trying to identify alpha MMS #90. What you need to know about advisory fees.Investing Forever - Active vs PassiveVanguard Share ClassesInvesco S&P 500 Index A (passive mutual fund)John Bogle (Vanguard Founder)American Funds Growth Fund of Amer AVanguard S&P 500 Mutual FundVanguard S&P 500 ETFVanguard Total Stock Market Index FundAaron 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.

Aaron and Trishul think it's okay not to save. WHAT?!?!In this episode, Aaron and Trishul discuss scenarios when it is okay not to save for the future. When is traditional financial planning too conservative? When taking a life planning approach, it's okay to prioritize well-being over prudent financial decisions. It may require future flexibility, but with good process and intention, you should feel like you are living the life you want rather than making a sacrifice.Episode ReferencesMMS: What's the big deal about FIRE?MMS: Most important financial advice for someone in their 20'sKitces: 3 Types of RetirementMMS: #15. George Kinder: Three life questions that will change everything.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.

When AI becomes more intelligent than humans, is humanity doomed?In this episode, Trishul prepares Aaron for when Artificial Intelligence becomes Artificial General Intelligence and the ensuing implications for humanity. He explains inner alignment and outer alignment problems and how capitalism and the prisoner's dilemma may mitigate AI creators from pursuing sufficient safety. When we start to consider scale and accessibility, it's possible that despite the best efforts of the vast majority of humanity, we can't overcome humans' inability to unanimously agree on anything.Episode ReferencesArtificial General IntelligenceNuclear Close CallsPrisoner's DilemmaMolochYoutube: AI Alignment ProblemMicrosoft $10B investment in OpenAIGreat FilterDon't Look UpI, RobotAaron 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.

How do you decide when to sell your NSOs?In this episode, Aaron uses the Netflix Employee Stock Option Plan to explain how to decide when to sell NSOs. Just because the stock price has appreciated doesn't mean you should cash out now. Options have both moneyness and time value. Aaron explains leverage to help understand when an option is sufficiently "in-the-money" and a Black-Scholes Calculator to quantify the Time Value. You can then apply an Insight Ratio to determine if you should cash out now or hold on for longer.Episode ReferencesGraystone: Netflix employees should wait to sell their stock optionsGraystone: Netflix Employee Stock Option PlanmyStockOptions.com Black-Scholes CalculatorYahoo Finance: NFLXNFLX VolatilityStockOpter Insight Ratio®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.

What happens to Silicon Valley Bank customers and will this affect my cash?What does the failure of Silicon Valley Bank mean? On 3/15/23, Aaron and Trishul answer client questions regarding the news about SVB. They discuss FDIC insurance and how some risk-free instruments are safer than other risk-free instruments. They address how specific regulatory and economic factors affected SVB and how they may or may not apply to other banks and money markets. In the end, SVB may be suffering the consequences of the risks they took on, but customers probably don't need to worry about losing any money.Episode ReferencesAI CopywriterSIPCSVB Weakens RiskSIVB StockSVB Balance SheetSVB Relative SizeMaxMyInterestUS Reserve Requirement RatioInvestopedia: Reserve RequirementsDid WaMu customers lose money?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.

What happens after AI replaces labor?In this episode, Trishul and Aaron imagine what happens when robots and AI put everyone out of a job. What careers could still exist? Does everyone get custom computer-generated content? If wealth inequality continues on an exponential path, what will the median household do? If the costs of everything in life are driven to a de minimis level, do most people even need jobs? If not, how do they spend their time?Episode ReferencesAI CopywriterWealth Inequality in AmericaTrends in Income and Wealth InequalityU.S. Wealth Distribution Over Time(Graph error; total wealth in Trillions, not Billions)AI reading X-raysMusic AIExams Passed by ChatGPTAI Makes Basic Coding ObsoleteChatGPT FAQAaron 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.

Is AI going to replace Aaron and Trishul?In this episode, Aaron and Trishul discuss the implication of ChatGPT on their (and other) careers. It will likely replace the knowledge they have gained through the CFP program and can answer most client questions directly. Just like a student can outsource a test and a CPA can outsource data entry. The future value may not come from their knowledge but from the ability to help clients who don't know what they don't know. In asking better questions, both about their lives and specific topics, the ability to help guide along the way to make better decisions will be how advisors [and doctors] thrive in the future.Episode ReferencesAI CopywriterAI VideoAI LawyerAI BlogsArthur C Clarke's QuoteChatGPT on Final ExamsChatGPT passes Wharton ExamAI Robot LawyerADA Health AI ToolChatGPT will change automation jobsAI Lawyer in actionAI PodcastChatGPT adoption ratesAaron 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.

Trishul and Aaron get philosophical as they consider artificial intelligence.In this episode, Aaron and Trishul planned on discussing ChatGPT. But when they go through the history of machine learning, Trishul wonders if a modern AI can pass the Turing Test, and they go down a rabbit hole of the difference between humans and machines. They ponder the question of whether a human's mind/soul has free will or whether the human brain is the result of biology and external inputs.Episode ReferencesBot Writes a Hallmark Christmas MovieChatGPTDeep Blue vs Gary KasparovAlphaGoAlphaFoldFree WillBlog on ChatGBTAaron 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.

Creating a routine to fill the unstructured time off.In this episode, Trishul and Aaron discuss what they are going to do with their unstructured time off around the holidays. Aaron is particularly concerned with limiting screen time for his three kids. Trishul shares some of the activities he and his family did during his sabbatical and during Covid and how you can create a routine when you have time to do whatever you want.Episode ReferencesAll TrailsThousand TrailsYear-End Financial Planning ChecklistVideo Games Versus TVSocial Media Versus Mental HealthAaron 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.

Safe withdrawal rates, fulfillment, and economic impact of an aging population.In this episode, Aaron and Trishul explore the question "What if we live forever?" They touch on the science of aging, the economic impact of an aging population, like Japan, and the ramifications on the workforce. While it may seem that supporting a long retirement may require a larger nest egg, it's possible the next generation chooses lifestyles and careers they can maintain much later in life.Episode ReferencesVariable Spending StrategyFuture Population GrowthRetirement Spending StrategiesThe Rejuvenation RoadmapReverse Aging Treatment for Mice“Time Jump” by 30 YearsAaron 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.

The current and future impact of going solar and electric.In this episode, Trishul and Aaron discuss the decreasing cost of solar power and whether paying the extra cash now for solar panels or electric vehicles pays off in the end.Episode ReferencesEVs save money in the long runCalifornia Electric MandateSolar is now the cheapest in historyPrice of solar has dropped 89% in 10 yearsSolar makes sense at ground levelEnergy.gov: Homeowner's Guide to Federal Tax CreditAre EVs worth the money?Solar in US to triple in five yearsAre EVs worth it?Only EVs by 2035Aaron 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.

Everything Fantasy Football.In this episode, Aaron teaches Trishul how to play fantasy football. They use passive investing and simple behavior heuristics as analogies for auto-drafting and setting a lineup. They discuss positional scarcity, relative value, and the diminishing marginal benefit of additional research time. But in the end, it's the context that keeps a group of friends together that is the biggest benefit of fantasy football.Amazon: All or NothingYahoo! Fantasy SportsESPN FantasyAaron 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.