The Mind Money Spectrum Podcast

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.

Is ESG investing worth extra fees and opportunity cost? There may be better ways to spend your money.In this episode, Aaron and Trishul discuss Socially Responsible Investing and ESG investing. Environmental, Social, Governance investing. They discuss the theories around how and why you you would invest in companies with objectives other than pure profit maximization. Trishul argues that if there was any additional ourperformance to be had, the efficient market would already have priced that in. Aaron uses an analogy of female led companies to argue that there may be some bias against non-traditional invesment strategies. But in the end, they both agree that lower investment fees is the way to go.Women Led Startups received 2.3% of VC FundingFemale Entrenpreneurs Funded by Female VCsESGV - Vanguard ESG US Stock ETFCompanies with female leaders outperform those dominated by menESG ETFsWhat is ESG investing?Forbes: ESG InvestingNerdwallet: ESG InvestingRobo-Advisors Socially Responsible InvestingESG Investing introESG ETF ReportsAaron 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.

Tax-Loss Harvesting is not free money, but it still has some long-term benefits.In this episode, Trishul and Aaron discuss all the nuances and caveats of tax-loss harvesting. It is definitely a good thing, but may be more of a tax-deferral than a genuine tax savings. Unless you can get a step-up in basis. The biggest benefit of tax-loss harvesting may come from the time value of money; the compounding growth on the money that didn't go to taxes at the beginning.MMS #79. Tax-Loss Harvesting 1017 Stages to Financial FreedomMox-nixVOO - Vanguard S&P 500 ETFVT - Vanguard Total World Stock ETFFidelity: Tax-loss harvestingIRA Wash Sale RuleWash Sale Challenge: What is substantially identical?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.

With social media, it takes practice to fight the default doomscrolling behavior.In this episode, Trishul and Aaron examine their own behaviors when it comes to social media and how it continually elicits negative emotions. Social media engines feed more negative items because these drive greater interaction across society. They discuss the balance between 'ignorance is bliss' and being an informed voter. With so much noise in the world, it takes work to create filters and you need to practice the process of curation.DoomscrollingTang pingBBC: DoomscrollingEcho ChamberAaron 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.

Most advice for dealing with rising interest rates doesn't work after the fact.All the advice of what to do during rising interest rates only applies if you went back in time and knew interest rates were going to rise in the future. Once they have already risen, there is not much you can do. But Aaron and Trishul discuss some of the things you could have done if you were able to predict the future.MMS #61. The market's at an all-time high (again!).CNN: How to benefit from rising interest rates.Interest Rates are Rising GloballyFed Raised Interest RatesFed Funds Rate History: Highs and LowsUS Treasury Yield CurveBND - Vanguard Total Bond Market ETFInterest Rate SensitivityMortgage 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.

Being intentional with spending and saving can reduce stress and increase happiness.If you are on track to be financially independent, when is it ok to spend more? If you are saving well and your income keeps growing, do you scale back or use your extra to move beyond basic needs? After you are earning enough to cover regular spending and saving, it becomes an intentional life decision of what you do with your extra income? Do you maintain the same expenses and pursue FIRE? Do you become a one-income household? Do you design your career with your life in mind? As you move from stability to flexibility, it becomes more important to be intentional with your life decisions first, then make sure your finances are supporting your ideal life.MMS #3. Does money buy happiness?MMS #6. The difference between well-being and happinessMMS #7. The impact of friends, family, and communitiesMMS #18. Why happiness is not the answer to your problems.7 Stages to Financial FreedomRich Dad Poor DadHedonic TreadmillReddit FIREHappy MoneyAaron 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.