The Mind Money Spectrum Podcast: Recent Episodes
Aaron Agte and Trishul Patel
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.
Graystone Advisor, LLC is a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempt from registration.
Investing Forever LLC (d/b/a, Investing Forever Advisory) is a registered investment adviser offering advisory services in the State of Florida and in other jurisdictions where exempted.
Will AI allow people to build billion dollar companies without raising capital? Or will the demand for stocks persist?
If AI gets to a point where agents can replace employees and office space, do you need to raise capital to grow a business? Trishul and Aaron walk through the history of publicly traded companies and stock exchanges, discussing the purpose of stocks across different eras. While it may become possible to build a billion-dollar venture without employees, the incentives for liquidity and diversification should allow public stocks to thrive.
Episode References
MMS #158. Wealth Manager predicts AI will end real estate
MMS #141. The Unrealized Gains Loophole
MMS #128. The mutual fund industry is changing. Here's how.
SEC Regulations
Vanguard VT ETF
East India Company
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.
Slack in the system can help manage the anxieties modern technology creates in our lives.
Trishul spends most of his day on maintenance like sleeping, eating, exercising, and raising kids, and by the time he takes care of everything required just to function there is not much time left. And he is already financially independent. We tend to think money is the main constraint on our time, but even when money is no longer an issue life is still full of upkeep. Technology gives us the ability to do more than ever, but it does not remove the human necessities. Reducing stress may come less from optimizing every moment and more from embracing maintenance and boredom.
Episode ReferencesMMS #74. This hidden benefit of financial independence changes everything.
MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #15. George Kinder: Three life questions that will change everything.
MMS #129. Ideal day, week...and societal expectations?
MMS #130. Manage expectations to cultivate your ideal year.
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 are the non-financial aspects you need to plan for five years before retirement?
Retirement isn’t the end. It will last decades, and five years before you retire is when you should start thinking about what you actually want that life to look like. Most people focus on what they’re retiring FROM, but the better question is what are you retiring TO? When you start thinking about your ideal lifestyle, your community, your home, how you spend your time, and whether work still plays a role, you may realize something important. You don’t have to wait. You can start living that life now.
Episode References
MMS #6. The difference between well-being and happiness and why you need to choose to be happy to actually be happy.
MMS #7. The impact of friends, family, and communities on happiness is larger than you might think. Listen through the end to find out why.
MMS #15. George Kinder: Three life questions that will change everything.
MMS #129. Ideal day, week...and societal expectations?
MMS #130. Manage expectations to cultivate your ideal year.
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.
You're already won. It's time to take some risk off the table.
Five years before retirement is when real planning begins. This is the time to shift from pure growth to an income strategy, reduce sequence of returns risk, and design a withdrawal plan that supports your lifestyle. We’ll cover portfolio transitions, withdrawal rates, and decumulation strategies so you can retire with confidence instead of guesswork.
Episode ReferencesMMS #5. The 4% rule is a good start, but betting your life on it can burn you.
MMS #12. Sequence of Returns Risk: Why the first few years of withdrawals are the most critical.
MMS #29. Want to retire before you turn 70? Tee up big savings with these tips.
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.
How does a shrinking population affect the stock market?
Stock market growth comes from economic growth plus leverage. Economic growth comes from population growth plus productivity growth. Population growth comes from fertility rates and immigration. But what happens when a population stops having children? What does that mean for the economy and, ultimately, the stock market?
Aaron and Trishul walk through the data behind global population trends, using Japan as a cautionary example.
Episode References
MMS #157. What the hell is jobless growth?
MMS #119. What if we live forever?
Global GDP
World Population
Global Fertility Rate
US Population
US Fertility Rate
Japan Population
Europe Fertility Rate
Data Insights
Pew Research: Pop Growth in 100 Years
Life Expectancy
Birth Rate By Country
GDP By Country
Fertility Rates
Largest Countries by GDP
NIKKEI
ACWI
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.
Trishul sold his New Jersey rental property, while Aaron is keeping his San Diego rental home. Why?
Real estate has delivered strong returns for generations, but Trishul believes the dynamics that made it successful are changing and won’t necessarily benefit future generations. Aaron pushes back, arguing that when investors focus on “location, location, location,” real estate can still play an important role in diversifying generational wealth.
Episode ReferencesMMS #155. Future Jobs for Kids
MMS #13. Is real estate just a big pain?
MMS #85. Everything about real estate investing
MMS #110. Inflation and deflation at once
MMS #27. UBI for free?
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.
The economy is expanding, yet we aren’t creating new jobs. What does that mean for the next generation?
For most of economic history, rising GDP has gone hand-in-hand with hiring. But AI and advanced technology are breaking that pattern, letting companies grow without adding workers. In this episode, two financial advisors discuss how to help children prepare for adulthood in this environment and imagine different paths society could go down.
Episode References
MMS #155. Future Jobs for Kids
MMS #156. Should your daughter go to Cornell or NotCornell?
MMS ##27. Can a Universal Basic Income really pay for itself?
You want to be a millionaire?
Ronny Chieng: MAGA
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.
If your child has a free ride to multiple universities, how would you help them decide which school and major?
Two financial advisors try to separate the value of higher education from all the ancillary benefits of college. If every course lecture is available online for free, should college cost so much? Are the fuzzier benefits worth the tuition and room and board? Would you be better going to NotCornell for half the cost?
Episode References
MMS #131. We don't need no education.
MMS #87. What's the smart way to fund a college education these days?
MMS #28. Is a million dollar higher education worth it? Your kids may not think so.
Accepted (movie)
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 recommendations would you give a high schooler to prepare them for their working career?
Aaron starts with the question of what college major would you recommend to a high schooler to prepare them for their working career? Trishul immediately questions whether college is even worth it. If both agree that entrepreneurship makes the most sense, how do you encourage teenagers to develop the necessary skills and ambition. Is work experience more valuable than education and networking?
Episode ReferencesMMS #142. Wages will never increase again. Here's why.
MMS #132. Why would you ever want to be a W-2 employee anymore?
MMS #123. I, for one, welcome our new AI robot overlords.
MMS #122. The robots are here! Seriously, now what!?
MMS #28. Is a million dollar higher education worth it? Your kids may not think so.
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.
Financial planners use the seasons to guide which annual topics to focus on.
Managing all your financial tasks can feel daunting and overwhelming. Good financial planning helps identify the priorities that need to be taken care of first. It also uses the seasons and various deadlines as themes for deciding which topics to work on. By taking one step at a time, it’s not long until your entire financial picture is running like a well-oiled machine.
Episode ReferencesMMS #130. Manage expectations to cultivate your ideal year.
MMS #103. Don't miss out on big savings during Open Enrollment Season.
MMS #107. It's a new year! So now what?
MMS #100. ISO University: Your guide to navigating ISOs in a pre-IPO company.
MMS #120. Planning for downtime during the holiday season
MMS #117. Aaron teaches Trishul how to play fantasy football.
MMS #111. The math behind March Madness and Buffett's Billions.
Carl Richards, Next Smallest Action
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.
Aaron shares the story of how his family stretched their vacation just a little too much. They added a few days to fit in Padres games or save money on flights. But there came a point they just wanted to sleep in their own bed and walk the dog. Using the life planning exercise of your ideal day, week, and year can help design a routine that you enjoy and make better intentional decisions for your time.
Episode References
MMS #129. Ideal day, week...and societal expectations?
MMS #130. Manage expectations to cultivate your ideal year.
MMS #147. After FIRE: Why this Wealth Manager won’t retire.
The Berenstain Bears - Too Much Vacation
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 can you set up today that if you forget about it, you are better off a year later?
Maxing out your 401k contribution and investing in stocks has the largest impact on your life for minimal effort. Aaron and Trishul go through other ways that setting up automation can provide significant benefits for your future self. From bill payments to investment contributions, automating your finances removes stress and builds long-term wealth on autopilot. Learn how small setup steps today can lead to massive gains tomorrow.
Episode References
MMS #65. The most important financial advice for someone in their 20's.
MMS #17. How to take advantage of your lazy brain.
Investing Forever - Passive Is the New Aggressive
Graystone Advisor: Advice for friends and family
Nudge by Thaler and Sunstein
The Opt-Out Solution
The Impact of Legislation on Organ Donation
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.
In 2024, tech stocks were up, while layoffs were also up, leading to a general concern among tech employees.
Tech employees saw their incomes rise dramatically from their equity compensation, but the specter of layoffs meant most people were still concerned. Aaron and Trishul discuss some of the potential reasons behind this dichotomy and how to help people deal with the fear. A healthy cash reserve can help mitigate the concerns of job loss and market downturns as well.
Episode References
MMS #148. Why Smart Advisors Don’t Care About Market Drops.
MMS #150. Wealth Manager shares his secret FIRE recipe
MMS #34. How do RSUs work?
Warren Buffett quote
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.
The math behind how quickly savings and investments can achieve financial independence.
Trishul re-creates the spreadsheet he used to calculate his pursuit of FIRE twenty years ago. He begins with simple time value of money calculations and walks through how increasing savings rates and different investment returns dramatically impact your path to financial freedom. Aaron brings the math to life with a real-world example: a couple maxing out their 401(k)s over two decades. Together, they show just how attainable it is to build a multi-million dollar nest egg with disciplined investing and long-term planning.
Episode References
MMS #147. After FIRE: Why this Wealth Manager won’t retire.
MMS #144. What Financial Independence in Your 40's Really Looks Like
MMS #143. FIRE with Kids? Here's How to Make It Work!
MMS #65. The most important financial advice for someone in their 20's.
MMS #56 The most important rule in finance.
MMS #5. The 4% rule is a good start, but betting your life on it can burn you.
MMS #1. What's the big deal about FIRE?
Trishul's Super Secret FIRE Calculator
Rule of 72
Einstein Quote
Financial Independence Retire Early Website
Trinity Study
Determining Withdrawal Rates Using Historical Data
The Shockingly Simple Math Behind Early Retirement
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.
Safe withdrawal rates often lead to having more money than you need. What then?
Trishul achieved FIRE and then built a business that now sustains his lifestyle. He knows he's on track to have more money than he needs. Aaron and Trishul discuss how it feels to be in this position and what to do next. Adjusting to this new phase can take years—and maybe it’s okay if spending doesn’t increase.
Episode References
MMS #146. A Financial Planner's Journey.
MMS #147. After FIRE: Why this Wealth Manager won’t retire.
MMS #112. Here's why you need to spend more.
MMS #65. The most important financial advice for someone in their 20's.
MMS #56 The most important rule in finance.
MMS #15. George Kinder: Three life questions that will change everything.
MMS #7. The impact of friends, family, and communities on happiness is larger than you might think. Listen through the end to find out why.
MMS #5. The 4% rule is a good start, but betting your life on it can burn you.
MMS #3. Does money buy happiness? Sometimes yes, but not in the way you think.
Die with Zero book
Kitces: Upside of Sequence of Returns Risk
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.
Whether the stock market is up or down, Trishul and Aaron have developed the super power to not care.
Stock market downturns often trigger fear among investors. But Aaron and Trishul have developed the ability to simply not care about stock market volatility. It comes from a combination of resilience through multiuple downturns, acknowledging the long-term aspect of investing in stocks, using mutliple asset classes, such as bonds and international stocks, and having a healthy cash position for short-term needs. They also discuss different strategies for tuning out the things they can't control and focusing on what truly matters.
Episode References
MMS #112. Here's why you need to spend more.
MMS #20. When markets crash, ignore this critical advice at your peril.
Vanguard Money Market
Max My Interest
Carl Richards: Fear and Greed
Carl Richards: What to focus on
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.
Trishul's journey from FIRE to lifestyle practice.
Trishul Patel achieved FIRE by building teams to solve problems. After reaching financial independence, his desire to help others led him to accidentally create an lifestyle practice. Now, he focuses on keeping it from growing too large, ensuring it doesn’t interfere with the hobbies he finds most fulfilling.
Episode References
MMS #144. What Financial Independence in Your 40's Really Looks Like
MMS #91. Why did Trishul and Aaron choose lifestyle practices?
MMS #90. What you need to know about advisory fees.
MMS #88. What's the big deal about the CFP®?
MMS #74. This hidden benefit of financial independence changes 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.
Trishul's journey from engineer to hedge fund manager.
How does an engineer become a hedge fund manager? Trishul Patel shares his journey from engineering to wealth management, bringing his analytical mindset into the world of finance. In this episode, he dives into the key moments of his career and explains how foundational concepts like compounding and risk shaped his path to financial independence. Discover how his unique perspective on money management can inspire your own journey toward building wealth and achieving financial freedom.
Episode ReferencesMMS #1. What's the big deal about FIRE?
MMS #138. Financial Planner tells a story of why Fee-Only matters
Investing Forever: About Trishul Patel
Political prediction markets
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.
You need to build your own routine to thrive in retirement.
People often retire with the idea of spending their time doing "whatever they want, whenever they want." However, this lack of structure can lead to a negative spiral, potentially resulting in health issues such as depression. To truly thrive in retirement—whether in your 40s or 60s—you need to create your own sense of discipline. It's essential to plan things to look forward to on a daily, weekly, and annual basis.
Episode References
MMS #7. The impact of friends, family, and communities on happiness is larger than you might think. Listen through the end to find out why.
MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #129. Ideal day, week...and societal expectations?
MMS #130. Manage expectations to cultivate your ideal year.
MMS #135. Aaron and Trishul discover the meaning of life.
Maslow’s Hierarchy of Needs
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.
Trishul is in his 40's and has achieved FIRE. Aaron is also in his 40's, but is not financially independent. Yet they both lead similar lives. What's the difference?
Trishul achieved FIRE and began writing a blog to help friends and family make better financial decisions. This eventually led to starting a lifestyle practice as a financial advisor. Aaron started a lifestyle business to help people with stock options while having the time to coach his kids' sports teams. Both see the value in making intentional decisions with family lifestyle as the priority. The difference is that Trishul's backup plan is his nest egg, while Aaron's backup plan is his future income potential.
Episode ReferencesMMS #143. FIRE with Kids? Here's How to Make It Work!
MMS #135. Aaron and Trishul discover the meaning of life.
MMS #117. Aaron teaches Trishul how to play fantasy football.
MMS #91. Why did Trishul and Aaron choose lifestyle practices?
MMS #74. This hidden benefit of financial independence changes everything.
MMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #1. What's the big deal about FIRE?
Aaron's blog with friends
Trishul's book with his father
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.
Parents teach hard worth through their actions, not their employment.
Trishul has achieved FIRE and is a parent. Aaron describes clients who have achieved financial independence, but still have kids at home for another decade. You teach kids the value of hard work, not through your employment, but through the same activities that make your life fulfilling—whether you're financially independent or not. Parenting is one aspect of the many intentional decisions you must make to design your ideal life.
Episode ReferencesMMS #35. Parents: How to face an impossible decision without losing your sanity.
MMS #16. What was money like when you were growing up? And why a strong foundation matters.
MMS #1. What's the big deal about FIRE?
MMS #19. Life doesn't need to begin at retirement. Here's why.
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.
Despite a generation of no real wage growth, how could wages increase?
Trishul examines why wages have stayed flat on a REAL inflation-adjusted basis over the last couple of generations. Globalization, tax law, and legislation favoring corporations have combined to increase wealth inequality and suppress wage growth. And Trishul sees no reason for it to change moving forward. Aaron argues that rewarding productivity and stability will be mutually beneficial to both employers and employees, rather than trying to extract all excess value. We'll see who's right in 40 years.
Episode ReferencesMMS #141. The Unrealized Gains Loophole
MMS #132. Why would you ever want to be a W-2 employee anymore?
MMS #98. Why do the rich keep getting richer? The shocking truth behind the Pandora Papers.
MMS #86. How does your True Tax Rate compare with the wealthiest Americans?
MMS #37. How to get rich and never pay a dollar in taxes.
Federal Reserve Board: Survey of Consumer Finances
Distribution of Wealth in the US
EPI: Retirement in America
Household Wealth Trends
Government Revenue
Census
S&P 500 vs CPI
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.
Addressing criticisms of Kamala Harris's Unrealized Gain tax plan.
The ultra-wealthy pay a lower tax rate than wage earners, meaning the US has a regressive tax system rather than the intended progressive tax system. Kamala Harris's tax plan would address wealth inequality by taxing unrealized gains. A Forbes article provides numerous critiques, and Trishul and Aaron try to address each point.
Episode ReferencesForbes: Unrealized Gains Tax is "Capital Punishment"MMS #86: Tax Rates
MMS #70: State Taxes
MMS #27: UBI
MMS #37: Never Pay Taxes
MMS #38: U.S. Taxes
ProPublica: America's Highest Incomes and Taxes Revealed
Lamar Hunt's Estate
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.
Rent or buy? How much as a down payment?
Most Americans have most of their net worth in their home equity. In this episode, Aaron and Trishul discuss the pros and cons of making a down payment and buying a home. Is it worth making a larger down payment to lower the monthly mortgage? Is it dependent on the growth assumptions of various asset classes or the behavior and discipline of individuals?
Episode ReferencesMMS #31: Is Real Estate just a real pain? Or are the psychological benefits worth the costs?
MMS #139. Rent-Seeking Exposed: Hidden Costs of Modern Life
US Population over time
Chloe Moore: Renting vs Buying
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.
How U.S. government incentives create rent-seeking.
In economics, rent-seeking is extracting wealth without adding value. Trishul provides data and examples of how rent-seeking has made lives harder. Home prices, healthcare, and education have all increased more than incomes, and rent-seeking is partially to blame. They look at how the U.S. government has incentivized individuals at the expense of society as a whole.
Episode ReferencesMMS #26. Practical advice on navigating a dysfunctional healthcare system.
MMS #85: Real Estate
MMS #28: Education
Rent-seeking
Reuters: Record Home Prices
Population Demographics
MLS Lawsuit
Japan Housing Prices
Price Elasticity
Cartel
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.
How snowboarding in Park City influenced the genesis of Graystone Advisor
In this episode, Aaron shares his story of attending due diligence conferences to learn about non-traded REITs. While it was nice to be wined and dined, he started to see where the client's money went and how understanding fees is important. There will always be conflicts of interest, but if you are open and transparent about incentives, you can start down the path of trying to do better.
Episode References
Non-Traded REIT
Blue Vault Report
Investing Forever - Follow the Money
Fee-Only Network: Trishul Patel
Fee-Only Netowrk: Aaron Agte
NAPFA:
NAPFA: Aaron Agte
XYPN: Aaron Agte
XYPN: Trishul Patel
Investing Forever - Three Key Benefits
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.
The red flags of TikTok financial videos.
In this episode, Trishul and Aaron discuss the problem of trying to pare down financial advice to soundbites. TikTok financial videos can contain red flags ranging from likely inappropriate to downright wrong. Anytime we hear passive investing, real estate, crypto, or "Don't invest in your 401k", we immediately assume the video has some ulterior motive.
Episode References
MMS #3: Does money buy happiness?
Trishul Patel - CRD
Investing Forever Advisory - CRD
Aaron Agte - CRD
Graystone Advisor, LLC - CRD
BrokerCheck - FINRA
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.
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 YouTube
MMS #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?
Ikigai
Perplexity
Self-Determination Theory
Living Deliberately
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.
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 Needs
Tesla Robot Folding Shirt
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.
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 References
MMS #3: Does money buy happiness?
MMS #65: The most important financial advice in your 20's
MMS #112: Here's why you need to spend more
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.
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 Stock
What to do after a windfall?
Homo Economicus
Graystone Advisor: Buying Stocks For Fun
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.
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-2
Forbes: W-2 vs 1099
Neil deGrasse Tyson: Let the kid grab the egg
Quickbooks: 1099 vs W-2
Kitces: S-Corp reduces self-employment taxes
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.
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 Talk
How to Seek Validation from Within
The Gap and the Gain
Adam Smith The Wealth of Nation
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.
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 Calendar
Bohr Quote
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.
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 Freedom
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.
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 Passive
Vanguard Share Classes
Invesco S&P 500 Index A (passive mutual fund)
John Bogle (Vanguard Founder)
American Funds Growth Fund of Amer A
Vanguard S&P 500 Mutual Fund
Vanguard S&P 500 ETF
Vanguard Total Stock Market Index Fund
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.
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's
Kitces: 3 Types of Retirement
MMS: #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 Intelligence
Nuclear Close Calls
Prisoner's Dilemma
Moloch
Youtube: AI Alignment Problem
Microsoft $10B investment in OpenAI
Great Filter
Don't Look Up
I, Robot
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.
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 options
Graystone: Netflix Employee Stock Option Plan
myStockOptions.com Black-Scholes Calculator
Yahoo Finance: NFLX
NFLX Volatility
StockOpter 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 Copywriter
SIPC
SVB Weakens Risk
SIVB Stock
SVB Balance Sheet
SVB Relative Size
MaxMyInterest
US Reserve Requirement Ratio
Investopedia: Reserve Requirements
Did 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 Copywriter
Wealth Inequality in America
Trends in Income and Wealth Inequality
U.S. Wealth Distribution Over Time
(Graph error; total wealth in Trillions, not Billions)
AI reading X-rays
Music AI
Exams Passed by ChatGPT
AI Makes Basic Coding Obsolete
ChatGPT FAQ
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.
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 Copywriter
AI Video
AI Lawyer
AI Blogs
Arthur C Clarke's Quote
ChatGPT on Final Exams
ChatGPT passes Wharton Exam
AI Robot Lawyer
ADA Health AI Tool
ChatGPT will change automation jobs
AI Lawyer in action
AI Podcast
ChatGPT adoption rates
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.
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 Movie
ChatGPT
Deep Blue vs Gary Kasparov
AlphaGo
AlphaFold
Free Will
Blog on ChatGBT
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.
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 Trails
Thousand Trails
Year-End Financial Planning Checklist
Video Games Versus TV
Social Media Versus Mental Health
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.
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 Strategy
Future Population Growth
Retirement Spending Strategies
The Rejuvenation Roadmap
Reverse Aging Treatment for Mice
“Time Jump” by 30 Years
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.
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 References
EVs save money in the long run
California Electric Mandate
Solar is now the cheapest in history
Price of solar has dropped 89% in 10 years
Solar makes sense at ground level
Energy.gov: Homeowner's Guide to Federal Tax Credit
Are EVs worth the money?
Solar in US to triple in five years
Are EVs worth it?
Only EVs by 2035
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...
Need to know about AMT preference items, add backs, and exclusions? And how do AMT credits work?
In this episode, Trishul convinces Aaron to wade deep into AMT. They discuss Alternative Minimum Tax preference items, exemptions, adjustments, and exclusions. Aaron provides an example of how the AMT exemption matters when exercising ISOs and why you may not get all of your AMT credit back in future years. Without a doubt, AMT is a complex beast. But with luck, this episode will turn a few unknown unknowns into known unknowns.
Episode ReferencesGraystone Advisor: Exercise your ISOs in January
AMT adjustments
How to calculate AMT
Who benefited from TCJA?
AMT income treshhold and exemption amounts
The Balance: What is AMT?
Private Activity Bond
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.
A well-designed asset allocation shouldn't need to adjust in response to inflation.
In this episode, Aaron and Trishul discuss inflation. They go through factors that led to rising prices in 2021. And they relate potential impacts to consider. Our hosts then explore how stocks and bonds have performed over historical inflationary periods. You probably don't want to make any tactical changes to your portfolio to counteract recent inflation. So listen to the end to find out why.
Episode ReferencesMMS #82. Are you overlooking this stellar asset class?
S&P 500 by Calendar Year
US Inflation Rate by Year
Buyers paying over sticker price for cars
The Fed - What is inflation?
How does inflation affect exchange rates?
How many decimals of pi do we really need?
Investopedia: Inflation
Investopedia: What causes inflation?
Investopedia: Inflation's impact on stock returns
CPI
Historical inflation rate by year
Big Mac Index
Vanguard Total Bond Market ETF
The Fed's dual mandate
Gold standard
S&P 500 returns
Inflation 2021
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.
Resolutions and blocking off calendar, and controlling time and your schedule. Don't forget 401k contributions, ISO exercises.
In this episode, Trishul and Aaron talk about things they consider at the beginning of the year. They double-check savings rates based on raises and current 401k limits, and they evaluate the exercise of ISOs. They also evaluate many age-based topics, such as RMDs, QCDs, Medicare, and Social Security. But consider your big rocks first. It doesn't have to be a New Year's Resolution because a new habit can start at any time. So what boulders have you been neglecting lately?
Episode ReferencesMMS #57. Be proactive in January to save big on these three things
Build Back Better Act: Timeline
OneWheel
How to create a successful new year plan
Who is eligible for Medicare
Age Reduction
QCDs
UGMA or UTMA
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.
Longevity and life expectancy assumptions in financial planning projections.
In this episode, Aaron and Trishul discuss planning issues related to longevity and life expectancy. Retirement projections require an end date, but choosing one is an art rather than a science. The process requires assimilating incongruent datasets and incorporating human emotion. But then what happens if longevity continues to increase? Our hosts get a little wonky as they bring up FIRE, safe withdrawal rates, Medicare, and The Good Place.
Episode ReferencesLife Expectancy
Death vs Disability
Odds of Dying
SSA: Actuarial Life Table
Life Expectancy: Singapore vs US
Japanese Scientists Develop Aging Vaccine
Supercentenarians
Human aging process biologically reversed
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.
The life lessons of skiing and snowboarding are different for kids and adults.
How do skiing and snowboarding relate to teaching children grit? How do you learn to say 'no'? And where does "Zelda: Breath of the Wild" fit in with all this? In this episode, Trishul and Aaron discuss how winter sports and video games serve as examples of the balance between pushing through failure and knowing when to quit.
Episode ReferencesMMS #6. The Difference Between Well-Being and Happiness
MMS #93. How to give up and quit like a pro.
MMS #8. Do You Actually Need More Stress in Your Life?
MMS #17. How to Take Advantage of Your Lazy Brain
Malcolm Gladwell: 10,000 Hours Rule Explained
Wikihow: Develop Grit
Wikihow: Snowboard
Wikihow: Ski
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.
Our favorite episodes from Year 2.
In this episode, Aaron and Trishul look back on their second year of podcasting. In the beginning, they focused on the process, recording one conversation at a time, and eventually, they established a consistent habit. To wrap up Season 2, our hosts recount their favorite episodes of the year. So which ones did you enjoy the most? Listen to the end to find out.
Episode References
MMS #52. 1st year retrospective: Our favorite episodes and what you missed.
Trishul's Favorites from Year 2
MMS #86. How does your True Tax Rate compare with the wealthiest Americans?
MMS #72. How many people actually beat the market?
MMS #61. The market's at an all-time high (again!). Now what?
MMS #60. What's the best way to beat Bitcoin Madness? We uncover facts that nobody ever told you.
MMS #59. Stock options are risky business. Here's when they can actually make sense.
Aaron's Favorites from Year 2
MMS #67. If you are in this lucky minority, the Biden Tax Plan will burn you.
MMS #82. Are you overlooking this stellar asset class?
MMS #77. What's the real limit on 401k contributions? It's much higher than you think.
MMS #74. This hidden benefit of financial independence changes everything.
MMS #73. Is direct indexing the future of investing?
MMS #65. The most important financial advice for someone in their 20's.
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.
During Open Enrollment, make sure you opt-in to 401k, life, disability, and health insurance. You can figure out the details later.
In this episode, Trishul and Aaron discuss common client concerns that surface during Open Enrollment Season. Each fall, you get inundated with plan documents from work. But now is a time when your seconds can save you hundreds or even thousands. Often, you need to opt-in to participate in your employer's health, disability, life, and retirement plan. Likewise, a company match on your 401k or a discount to your ESPP can even mean free money. So don't miss out before it's too late to act.
Episode References
Employee Benefits Guide
HMO vs PPO
Group Disability Insurance
FAQs for Cafeteria Plans
HSA vs FSA
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.
ISOs, NSOs, RSUs, and ESPPs all together.
In this episode, Trishul and Aaron discuss alternative forms of employee equity compensation. In addition to ISOs, there are NSOs, RSUs, and ESPPs, and each one comes with different tax implications. Your employer can grant access you any combination of these plans. So then, how do you decide when to exercise and when to sell? You can choose to hold on to everything for the upside. Or you can sell everything as soon as possible to lock in your benefits. But most people end up somewhere in the middle, and that's where things get complicated.
Episode ReferencesMMS #99. ISO University: Congrats, you're hired! Now follow these steps with your new ISOs.
MMS #100. ISO University: Your guide to navigating ISOs in a pre-IPO company.
MMS #101. ISO University: It's IPO Time! So now what do you do with your ISOs?
Graystone Advisor - When do I Exercise my Incentive Stock Options?
Graystone Advisor - You Should Probably Exercise Your ISOs in December
Graystone Advisor - You Should Probably Exercise Your ISOs in January
Graystone Advisor - How Do RSUs Work?
XYPN: RSUs
ESOP and ESPP
myStockOptions.com: Holding Requirements for ISOs
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.
ISOs in late stage private companies and after going public.
In this episode, Aaron and Trishul discuss what you can do with your ISOs to prepare for an upcoming liquidity event. At this point, investment risks are still high, so what's the best way to capitalize from here? First, you must consider the timing of exercise. Next, you need to evaluate if you will cash out or hold on for more upside. For most people, it is some combination of cashing out as soon as possible, exercising and selling in the most tax-efficient manner, and holding on to your options or shares for long-term gains.
Episode ReferencesMMS #99. ISO University: Congrats, you're hired! Now follow these steps with your new ISOs.
MMS #100. ISO University: Your guide to navigating ISOs in a pre-IPO company.
Graystone Advisor - When do I Exercise my Incentive Stock Options?
Graystone Advisor - You Should Probably Exercise Your ISOs in December
Graystone Advisor - You Should Probably Exercise Your ISOs in January
Stock Compensation and Taxes
ISO vs NSO and 83b Election
83b Election
ISO Disqualifying Disposition
AMT Preferences
IRS: Underpayment Penalty
Drag Along Rights
Tag Along Right
IRS: AMT
AMT Credit
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.
ISOs in the mid stage of a private company.
In this episode, Trishul and Aaron discuss what you should look for when you've been at a private company for a few years. At this point, your ISOs may have climbed in value, so it's quite the balancing act. Not only do you need to factor in future investment risks, but also you need to analyze the impact of AMT. Furthermore, waiting to exercise can create a golden handcuffs scenario, which you want to avoid. Thus, it makes sense to exercise some ISOs each year. But don't exercise too many, or you'll end up with unintended consequences.
Episode ReferencesMMS #99. ISO University: Congrats, you're hired! Now follow these steps with your new ISOs.
MMS #33. If you have Incentive Stock Options, you need to listen to this episode.
MMS #21. Why the VIX is useless.
Graystone Advisor - When do I Exercise my Incentive Stock Options?
Graystone Advisor - You Should Probably Exercise Your ISOs in December
ISO vs NSO for 83b Elections
$100k ISO Limitation
83b Election
ISO Disqualifying Disposition
MyStockOptions.com
Slack IPO
AMT Preference Items
IRS Underpayment Penalty
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.
What should you look for when you first receive an ISO grant?
In this episode, Aaron and Trishul discuss what you should look for when you begin working for a pre-IPO company and receive a grant of Incentive Stock Options. AMT isn't a concern just yet, but your investment risk is significant. Between QSBS and 83b elections, there are a few critical actions you can take right away. But most of the time, a "wait-and-see" approach will work just as well.
Episode References
MMS #33. If you have Incentive Stock Options, you need to listen to this episode.
MMS #21. Why the VIX is useless.
Graystone Advisor - When do I Exercise my Incentive Stock Options?
XYPN: Your Guide to Stock Compensation
Taxes: ISO $100k limits, 83b Election, Rule 3921, AMT Tax
ISO vs NSO for 83b Elections
ISOs and 83b Election
$100k ISO Limitation
83b Election
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.
Pandora Papers: Round three of leaks behind the wealth for rich and famous.
In this episode, Trishul and Aaron discuss the Pandora Papers. Similar to the Panama Papers leak from 2016, this new investigation further reveals how the wealthy and powerful use offshore tax havens to shelter trillions in assets. But how does this influence the average American? It turns out its impact on you and your family is more extensive than you think. This latest exposure illuminates a significant global issue, but highlighting a concern is only the first step in combating a problem.
Episode ReferencesMMS: #37. How to get rich and never pay a dollar in taxes.
ICIJ: Pandora Papers
ICIJ: Pandora Papers FAQ
Reddit: Pandora Papers
Ireland increase in corporate tax rate affects Facebook, Google, Apple
PanamaPapers.org
Anonymous Trust
Wiki: Panama Papers
Wiki: Paradise Papers
Wiki: Pandora Papers
Pressure mounts on leaders revealed in Pandora Papers leak
How Many Billionaires are There in the World?
All of the World's Wealth in One Visualization
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.
How much money should you put in Robinhood and crypto?
In this episode, Aaron and Trishul discuss how much money you should invest in crypto. Similar to investing in single stocks, there are some rules of thumb to consider. Do you already save enough for retirement? Is your emergency fund adequate? Does your lifestyle depend on this money? If you're well covered, then the added risk of that Bitcoin position might be worth it to you. Even so, Trishul introduces a great analogy to the dot-com bubble in the '90s. How do you know if you are buying Amazon or Pets.com? So don't forget the big picture here, as there's always an opportunity cost to consider when making any investment decision.
Episode References
MMS #2: Buying stocks can be fun, but don't fall into these common traps. A quick intro to investing outside of your IRA.
MMS #60: What's the best way to beat Bitcoin Madness?
Regulators RAcing Towards Rules on Cryptocurrency
MiamiCoin
DotCom Pets.com
Bitcoin ETF coming, but there's a catch
CoinMarketCap
Global GDP
ICO: Initial Coin Offering
Optimism Bias
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.
Biden tax plan is getting updated, but will it even pass?
In this episode, Trishul and Aaron discuss updates to the Biden tax plan as it makes its way through Congress. Most of the changes target the top 1% of income earners. For example, there's talk of increases to income taxes, capital gains taxes, corporate taxes, and even estate taxes. But will any of this even make a dent in the pockets of billionaires? While Biden is trying to target income inequality, his plan does little to address wealth inequality. So Trishul outlines one radical idea that could change everything.
Episode References
MMS #67: Biden Tax Plan proposal
MMS #77: Mega Backdoor Roth 401k
MMS #86: True Tax Rate of wealthiest Americans
MMS #37: How the rich never pay a dollar in taxes
MMS #38: The US tax system is screwing you over
Kitces.com: Analyzing Biden's New "American Families Plan" Tax Proposal
ProPublica: Peter Thiel's $5B Roth IRA
ProPublica: How the Wealthy Avoid Taxes
America's Billionaire's Pay an Average Income Tax of 8.2%
WSJ: What Peter Thiel's Roth IRA Means for Yours
Biden Backs Tax on Billionaires Unrealized Gains
Thermal Runaway
Democrats Seeking $3.5T Deal
Tax Brackets
Head of Household
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.
What's the trade-off between security and privacy? And does Google know more about you than you do yourself?
In this episode, Aaron and Trishul discuss the trade-offs between security and privacy. Are you okay with "free" services like Google tracking everything you do online? Nobody out there has time to read all the end-user license agreements that we come across. After all, someone out there must be keeping internet companies in check. And for now, to even participate in modern society, you have to give up some level of privacy. Even so, listen to the end to see how a little vigilance in the right places can go a long way.
Episode References
Investing Forever - Privacy Policy
End-user license agreement (EULA)
What is Internet Privacy?
Proof That (Almost) No One Reads EULAs
Why is Online Privacy Important
DuckDuckGo Google Alternative Search
Best Browsers for Privacy
Why use a VPN
Did Edward Snowden Tell Us Anything We Didn't Already Know?
Self-Regulatory Organization
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.
Hacking, phishing, and password managers, oh my.
In this episode, Trishul and Aaron discuss modern lifestyle security risks. Between hacking, phishing, and scamming, cyber fraud has become increasingly sophisticated. These days, it's almost impossible to distinguish between a legitimate email and an attempt to steal access. They share a few of their learning experiences and how password managers and two-factor authentication help to protect themselves and their clients. Cyber fraud is not going away any time soon, so never forget to be vigilant whenever you're online.
Episode References
Half of people plug in found USB drives
How to Recognize and Avoid Phishing Scams
Bernie Madoff
8 Ways to Avoid Getting Scammed
10 Biggest Hedge Fund Failures
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.
When things aren't going well, when do you persevere and when do you throw in the towel?
In this episode, Aaron and Trishul try to address the following question, "If things aren't going well, when do you make a change?" How do you overcome the emotional gravity of past actions to make good decisions moving forward? They discuss how impactful the status quo can be when framing a decision as an opt-in or opt-out. They also examine the disposition effect, prospect theory, and premortems. And sometimes, simply having a third-party opinion can help overcome behavioral bias.
Episode ReferencesInvesting Forever - Famous Amos and Noble Daniel
Disposition Effect
Selling Winners, Holding Losers
Black Swan
Happy Money
Thinking Fast and Slow
Freakonomics: Upside of Quitting
The Signal and the Noise
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.
What do you track? What do financial advisors track? What should you track?
In this episode, Trishul and Aaron try to address the question, "How do I know if I'm doing well?" From an investments perspective, this has historically meant comparing the performance of an investment strategy to a benchmark. But for meeting life goals, tracking net worth, savings, and spending may be more impactful. And outside of finance, how does your behavior react to what you monitor and track?
Episode ReferencesInvesting Forever - King of the Hill
Investing Forever - One Lifetime of Wealth
Historical Returns by Asset Class
Investing Forever - Passive is the New Aggressive part 7
Time-Weighted Return vs IRR
Dow Jones Industrial Average
MSCI All Country World Index
MSCI World Index
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.
Why start your own business?
In this episode, Aaron and Trishul discuss the recent trend of educated workers quitting their jobs to prioritize their life. They examine the question "What is the role of employment in your life?" both as it pertains to their personal choices and as it applies to conversations with clients. While it may feel like choosing to be less ambitious is choosing your life over your work, it may help to reframe your thinking as choosing to be more ambitious about your life instead of your career.
Episode References
MMS #15. George Kinder's 3 Questions (Life Planning)
MMS #6. Difference between Well-Baing and Happiness
MMS #7. The impact of friends, family, and community on happiness
MMS #89. Are independent RIAs better?
New Yorker: Why Are So Many Knowledge Workers Quitting?
US Unemployment Rate
4 Day Week
Workers are Leaving Restaurant Industry
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.
Fee-only advisors and all the other fees you may pay.
In this episode, Trishul and Aaron discuss what it means to be fee-only and why they chose to make this commitment. AUM, hourly, and flat fees are just a few methods that all fall under fee-only. They discuss the evolution of financial services and why reputable advisors may still choose to sell financial products for a commission. They also explain why free financial services aren't always worth it.
Episode ReferencesInvesting Forever - The Three Key Benefits of Sound Investment Management Advice
Investing Forever - Where should you turn to for advice?
Investing Forever - Follow the money.
Graystone Advisor: What should I look for in a Financial Advisor?
Schwab 10-K
12b-1 Fees
Average Financial Advisor Fees
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.
Why Aaron and Trishul chose to go independent.
In this episode, Aaron and Trishul highlight their career paths. They then discuss what led them to create independent advisory firms after joining the XY Planning Network. Trishul started by writing a financial blog before realizing he wanted to provide more individualized help. Aaron failed out of sales before joining another RIA as an employee for a decade. In preparing for partnership status, Aaron realized he wanted more control of how he wanted to help his unique clients. But in the end, it was lifestyle implications that led them both to going solo.
Episode ReferencesInvesting Forever - The Three Key Benefits of Sound Investment Management Advice
Investing Forever - Where should you turn to for advice?
Fee Only Network: Trishul Patel
Fee Only Network: Aaron Agte
Fee Only Network
XYPN
XYPN: Aaron Agte
FINRA BrokerCheck
Broker-Dealer
RIA
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.
The CFP® is the gold standard in financial planning for individual households.
Trishul recently passed the CFP® exam. And so, in this episode, Aaron and Trishul discuss why the CFP® is so important. They discuss the Certified Financial Planner™ exam, continuing education requirements, the Code of Ethics, and the fiduciary standard. While the CFP® is not as academically rigorous as many formal post-graduate degrees, it is ideally suited for personal financial planning. Further, the breadth and depth of examination material help CFPs® uncover and transform planning-related unknown unknowns into known unknowns.
Episode ReferencesAaron Agte, CFP Profile
Investing Forever - The Three Key Benefits of Sound Investment Management Advice
Investing Forever - Where should you turn to for advice?
CFP Code of Ethics
Find a CFP Professional
How to Choose a Planner
CFP.net
Forbes: 10 Years of the Backdoor Roth
Modified Endowment Contract
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.
What to think about before applying to college.
In this episode, Trishul and Aaron discuss planning that parents and students go through before applying for college. Aaron shares his experience as a high school student and how he funded all four years with scholarships. Trishul explains how he started saving two years before his daughter was born. They discuss grants, loans, and the Expected Family Contribution. There are so many resources available to help fund higher education that you need to start researching as early as you can.
Episode ReferencesMMS #28. Is a million dollar higher education worth it?
MMS #23. Molly Laughter: How to conquer debt and still get ahead.
MMS #81. Molly Laughter: Don't refinance those student loans until you listen to this episode.
Fastweb scholarship search (What Aaron used to find so many scholarships)
StudentAid.gov EFC
Financial Aid Estimate
Student Aid Index
Expected Family Contribution
Financial Aid Search
Sallie Mae scholarship find
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.
ProPublica brings awareness to how the wealthy are not impacted by income taxes.
In this episode, Aaron and Trishul discuss the ProPublica article that explored the True Tax Rate of the wealthiest Americans. The article examined income taxes as a percent of growth in wealth. The findings were nothing short of remarkable. Our hosts explore the fairness of ProPublica's methodology and further uncover our income tax system's regressive nature. They go through a thought exercise to unwravel the rationale behind taxing income, and relate how the current system contributes to wealth inequality. While any solution will be messy, there's no funadmental reason why we can't come up with something better. Unless of course we simply don't have the will to do so.
Episode ReferencesMMS #27. Can a Universal Basic Income really pay for itself?
MMS #37. How to get rich and never pay a dollar in taxes.
MMS #38. The U.S. tax system is screwing you over. Here's what you can do about it.
Warren Buffett resigns from Gates Foundation
Forbes 400
Wealth Inequality
ProPublica: Why We Are Publishing the Tax Secrets of the .001%
ProPublica: The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax
ProPublica: How We Calculated the True Tax Rates of the Wealthiest
ProPublica: The Secret IRS Files Short Form: A Quick Guide to What We Uncovered
Top One Percent
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.
Investing in real estate isn't bad, but that doesn't make it good.
In this episode, Trishul and Aaron explore real estate as an asset class. They discuss individual investment properties, non-traded REITs, and publicly traded REITs. Real estate investments include equity and fixed income components, and they can have a low correlation to stocks and bonds. But it is the leverage that mortgages provide that makes all the difference. Even so, do you really need real estate in your portfolio?
Episode References
MMS #13. Is real estate just a real pain?
Asset Return Assumptions
(VNQ) Vanguard Real Estate ETF - Performance
(VMBS) Vanguard Mortgage-Backed Securities ETF - Performance
Real Estate Investment Trust (REIT)
REIT Definition
REIT Dividend Tax Rate
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.
Even if the Yale Model works for endowments, you probably shouldn't follow it.
In this episode, Aaron and Trishul discuss the Yale Model. With indefinite investment horizons, endowments typically gravitate towards illiquid investments, such as hedge funds, private equity, and venture capital. Trend following aims to take advantage of human irrationality. Long-short allows you to adjust and perhaps stamp out market risk. M&A takes advantage of price jumps when companies get bought out. Venture capital understands that most bets will lose money because the winners will make up for the rest. Unfortunately, smaller investors end up paying 3-4% a year in combined fees. Even so, the returns are worth it, right?
Episode ReferencesDavid Swensen
Why You Should Still Invest Like Yale
Private Equity
Value and Momentum Everywhere
Hedge Fund Fees
Funds of Funds
Do Funds-of-Funds Deserve Their Fees-on-Fees?
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.
Commodities probably don't help your portfolio the way you think they do.
In this episode, Trishul and Aaron discuss how commodities may fit into an asset allocation. In theory, gold, oil, and even corn can be a store of value and provide opportunities for speculation. And with futures and the magic of margin leverage, it's possible to amplify returns. Further, according to asset allocation research, securities with low correlations and positive expectations can even improve overall risk-adjusted returns. Nevertheless, can we safely assume that commodities will generate positive inflation-adjusted returns in the future?
Episode ReferencesTax Efficient Way to Own Gold
SEC vs CFTC
Derivative Contract Markets
Futures
Short Futures
Taxes on Commodities
Commodity Trading Advisor (CTA)
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.
It's easy to be pessimistic about bonds, but they are actually necessary for your portfolio.
In this episode, Aaron and Trishul go in-depth on why you need bonds. Despite low rates of interest and their limited ability to outpace inflation, bonds are essential in all but the most aggressive of portfolios. By understanding the mechanics of coupons, par value, credit quality, and duration, you can start to understand why bonds are a sensible low-risk, low-return investment. When stocks tank, there may be a flight-to-safety, which can drive bonds up. But the biggest benefit of fixed income comes during withdrawals, where bonds can mitigate your sequence of returns risk when it matters most.
Episode ReferencesiShares Total US Bond Market
BND Performance
Yield To Maturity
Duration
Kitces: Bond Tent mitigates Sequence of Returns Risk
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.
Molly breaks the the do's and don't's of student loans.
In this episode, Molly Laughter joins Trishul and Aaron for an all-encompassing look at student loans. With Covid forbearance ending soon, what are some of the options you have in front of you? She explains Direct vs FFEL loans, income-driven repayment plans, and consolidation vs refinancing. Depending on your income, employer, family, and desires, there are many paths available to you. But don't get too far until you digest these key points from Molly.
Episode ReferencesMMS #23. Molly Laughter: How to conquer debt and still get ahead.
Laughter Financial Website
Student Loan Planner
Taxes and Student Loan Forgiveness
Student Loan Debt Forgiveness Insolvency
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.
Why being neutral on growth vs value may actually be speculating.
In this episode, Aaron and Trishul do a deep dive on asset allocation. The percent of stocks vs the percent of bonds in an investment portfolio. They explain how an all-stock portfolio is less risky than you think, while an all-bond portfolio is even riskier than you may believe. Losing money is only one type of risk. But if you understand all the other risks involved, you then get to decide which risks are the most important to your situation.
Episode ReferencesMMS #43. Is your asset allocation putting your retirement at risk?
MMS #42. Investment strategies evolve, but is your portfolio stuck in a foregone era?
Investing Forever - Why invest in one thing over another?
Investing Forever - Efficient Market Hypothesis
Investing Forever - Risk, Everywhere
Investing Forever - Why buy-and-hold can save you big
Harry Markowitz
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.
Step-by-step instructions for implementing your own tax-loss harvesting strategy.
In this episode, Trishul and Aaron try to design an algorithm for a do-it-yourself tax-loss harvesting program. They illustrate the benefits of harvesting with specific equity ETFs. They then debate how often to check for losses and how to maintain asset allocations after realizing a loss. They also propose how to get back to your original portfolio while avoiding wash sales. And if you want to make this all work well, don't forget to track individual tax lots instead of average cost basis.
Episode ReferencesMMS #68. Don't get burned by what you don't know about cost basis.
MMS #69. Uncover the unknown unknowns of cost basis to unlock real savings.
MMS #73. Is direct indexing the future of investing?
Cost Basis: Tracking Your Tax Basis
Investopedia: Cost Basis
Investopedia: What Determines Your Cost Basis
Cost Basis for Real Estate
Investopedia: Bid-Ask Spread
Investopedia: Tax-loss harvesting
Investopedia: Rebalancing
Wash Sale Rule
Vanguard Advisor Alpha
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.
With modern administration measures, pension plans can be an executive's dream come true.
In this episode, Aaron and Trishul discuss the other type of retirement plans, defined benefit plans AKA pensions. They start with the history of pensions and the emergence of ERISA. By calculating the benefit based on age and income, employers can fund significantly more on a pre-tax basis than defined contribution plans such as 401k's. They discuss the cons during the accumulation phase and the pros during the distribution phase. By understanding the math, both employees and employers can make better decisions related to pensions.
Episode ReferencesHistory of the Pension
What is an ERISA Bond?
IRS: Defined Benefit Plan
Investopedia: Defined Benefit Plan
Unfunded Pension Plan
Qualified vs Non-Qualified Benefit Plans
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.
Retirement plans are really complex...maybe more complex than they should be?
In this episode, Aaron and Trishul discuss a variety of the most common retirement plans. In exchange for substantial tax benefits, investors need to navigate a myriad of rules and restrictions. Aaron and Trishul discuss small business plans, including SEPs, SIMPLEs, and Solo 401k's. They then dig into bigger business plans, including 401k's, 403b's, 457's, and TSP's. By the end, you'll understand how non-Roth after-tax voluntary contributions can allow you to shelter close to $60k a year through a Mega-Backdoor Roth conversion.
Episode ReferencesMMS #30: How to unlock the power of the Roth IRA
IRA Rollover Chart
Small Business Retirement Plans
IRS Rollover Chart
COLA Increases
401k vs 403b vs 457
IRS comparison of 457 and 401k
Nondiscrimination Test
Pros and Cons of rolling over your 401k
Individual K
Backdoor Roth
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.
All the different flavors of financial advice.
In this episode, Trishul and Aaron discuss the value of financial planning beyond just investments, such as taxes saved, utilizing retirement plans, and insurance analysis. They go over the pros and cons of working with an advisor who also sells the recommended insurance and investment products. This brings up the history of financial advice and the difference between fee-only, fee-based, and commission-only. No compensation structure is free of conflict or misaligned incentives. Even so, understanding the nuances involved can help you find an advisor that will put your interests first.
Episode ReferencesMMS #75. How credible are the purported benefits of financial advice?
Investing Forever - Fiduciary Oath
Investing Forever - Where should you turn to for advice?
RIA
Broker-Dealer
Agent
FINRA Qualification Exams 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.
Methodology on studies on the tangible and intangible benefits of working with a financial advisor.
In this episode, Aaron and Trishul examine research that tries to quantify the value of financial advice. High client retention rates imply that clients are happy. But how do you measure the value of advice? Past studies may have overstated the behavior gap. But recent studies provide additional insights beyond this singular metric. So don't forget about asset allocation, rebalancing, asset location, and tax-efficient investing. And beyond investing, perhaps it's the benefits from sound financial planning that make the biggest impact on happiness and well-being.
Episode ReferencesInvesting Forever - The Three Key Benefits of Sound Financial Advice
Investing Forever - The World's Most Expensive Hobby
Vanguard: Advisor's Alpha
Kitces: DALBAR study overstates behavior gap
A Simple Explanation for DALBAR's misleading results
Do Knowledgeable Investors Need a Financial Advisor?
Average Stock Holding Period on NYSE 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.
These differences between Financial Independence and Retiring Early always get missed.
In this episode, Trishul and Aaron explore the benefits of Financial Independence unrelated to Retiring Early. Some people no longer work for money, some maintain their status quo, and others enjoy increased security and control. Even so, all these perks do not necessarily require Financial Independence. And there's no need to wait until retirement either to shift in your mindset. So perhaps the benefit of working with a financial advisor is to turn the fear of future unknowns into the comfort gained from knowing you are on track to live your best life.
Episode References
MMS #1. What's the big deal about FIRE?
The Power of Purpose and Meaning in Life
A hobby may stave off depression
Coast FIRE
Confessions of an Overnight Tech Millionaire
Financial Independence without Retiring Early
The Benefits of Feeling in Control as We Age
7 Reasons to Keep Working After Financial Independence
5 reasons to keep working after financial independence
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.
Direct Indexing is the ideal combination of tax-loss harvesting and low fees.
In this episode, Aaron and Trishul focus on the things you can control when it comes to investing. Asset allocation, low fees, and managing taxes. Tax-loss harvesting when an investment is down can help you grow your net worth more effectively over market cycles. But it works best when you use many securities so that when some things are zigging, others are zagging. Direct indexing is the culmination of low fees AND tax-loss harvesting at the individual stock level.
Episode References
SEI Direct Indexing
Kitces: Direct Indexing
Indices 2020
Betterment: Tax-Loss Harvesting
Wealthfront: Tax-Loss Harvesting
Tax Efficiency of ETFs vs Mutual Funds
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.
Some do outperform the market, but how many, and how do you find these people?
In this episode, Trishul asks Aaron "How many people actually beat the market?" By focusing on the process and methodology of how they would even try to answer this question, they go through a variety of hypotheticals. Investment horizon matters. There are also investment risks, personal risks, and career risks to consider. They compare active managers to professional gamblers to examine how what may have worked in the past for an individual may not work in the future at scale. Listen to the end to see why there is probably less than a 1% chance of consistently outperforming a benchmark over long periods.
Episode ReferencesMMS #2. Buying stocks can be fun, but don't fall into these common traps.
Investing Forever - Passive Is the New Aggressive
Investing Forever - It's all about fees.
Investing Forever - Luck vs. Skill
Vanguard Advisor Alpha
The Wyatt Earp Effect
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.
It is easy for mortgages to be confusing. Learn how to compare the many choices available.
In this episode, Aaron and Trishul discuss mortgages and refinancing. With closing costs, points, interest rates, terms, Loan-To-Value, owner-occupied vs non-owner-occupied, recourse vs non-recourse, and fixed vs. ARMs, it is difficult to make a true apples-to-apples comparison across different mortgage options. They discuss what to look for and what traps to avoid, to not only find the mortgage that makes the most financial sense but one that best fits your lifestyle.
Episode ReferencesMMS #66. Brittany Mollica: Master your credit score.
7 Tricks When Refinancing a Mortgage
30 Year Fixed Mortgage Rate Chart
CPI
Recourse vs Non-Recourse
ARM
Conforming Loan Limits
What are Jumbo Loans
Refinance Rates
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.
The median household pays more taxes in Texas than in California.
In this episode, Trishul and Aaron explore different state and local tax rates across the country. In addition to state income taxes, they look at property taxes, sales taxes, and excise taxes on goods such as on gas, alcohol, and tobacco. While income taxes are consistently progressive in the states that actually charge an income tax, most of the other taxes are regressive when compared to income. The overall impact is that taxes end up disproportionately burdening the poor, which has led to greater inequality over time.
Episode ReferencesWho Pays?
State Income Tax Brackets
States with Highest and Lowest Taxes
New York State Tax Profile
California State Tax
Sales and Use Tax Rates
Excise Tax
Finnish Speeding Ticket Based on Income
Taxation of Muni Bonds
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.
This ain't your ordinary cost basis.
In this episode, Aaron and Trishul continue discussing cost basis. Aaron explains the math behind RSU and NQSO basis and why an ISO can have two different cost basis values. Trishul examines optimal gifting strategies. They also investigate how depreciation and upgrades can affect your home's cost basis, and how the step-up in basis on death works in community property versus separate property states. As Aaron tries to remember the nuances behind discounted ESPPs, they both realize the central point of the conversation: to turn unknown unknowns into known unknowns so that you are aware of when to be more careful.
Episode ReferencesMMS #32. These estate planning tips can save you big time.
MMS #33. ISOs
MMS #34. RSUs
Graystone Advisor: RSUs
Graystone Advisor: Exercising ISOs
Cost basis facts for stock plans
How to avoid getting double-taxed on ESPP
Taxation of Employee Stock Options
Taxation of ISOs, NQSOs, and Restricted Stock
Gifting and Cost Basis
Depreciation Recapture
Step Up in Basis
Employee Stock Purchase Plans
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.
Tax-loss harvesting first requires a good understanding of cost basis.
In this episode, Trishul and Aaron discuss cost basis, which is typically the purchase price from which a taxable capital gain is calculated. But it's not that simple given all the extra adjustments you might need to make on your tax return. Commissions, fees, capital gain distributions, reinvested dividends, and stock splits are just some of the things that can impact your cost basis. By tracking your cost basis at the tax-lot level, you might even lower your taxes. FIFO and LIFO are often used as a default, but both may land you with a higher tax bill. Finally, there's tax-loss harvesting, which can be an effective strategy to save money over market cycles.
Episode ReferencesCost Basis: Tracking Your Tax Basis
Investopedia: Cost Basis
Investopedia: What Determines Your Cost Basis
Cost Basis for Real Estate
Investopedia: Bid-Ask Spread
Investopdeia: Tax-loss harvesting
Investopedia: Rebalancing
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.
In this episode, Aaron and Trishul go through President Biden's tax plan, which could be enacted with a Democrat-controlled Congress. Increasing income, corporate, and long-term capital gains taxes; eliminating the step-up in basis; and reducing estate tax exemptions may seem monumental, but likely, these changes will only affect about 1% of us. Even so, some of Biden's other proposals could lower taxes for the wider population, such as a new retirement account contribution credit, and increased credits for children and dependents. Nothing is set in stone yet, but knowing what may come can still allow you to better prepare for the future.
Episode ReferencesMMS #32. These estate planning tips can save you big time.
MMS #37. How to get rich and never pay a dollar in taxes.
Kitces.com: Biden Tax Plan
Slide Deck: Biden Tax Plan
Income Percentile Calculator
Net Worth Percentile Calculator
Kitces.com: Marginal Tax Rates
MAGI
Section 1202
IRAs Payable to Trusts
Fidelity: Taxes Post Election
Managing Concentrated Stock Wealth by Tim Kochis
How did the TCJA change business taxes?
Why Amazon Pays No Corporate Taxes
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.
In this episode, Trishul and Aaron are joined by Brittany Mollica, a financial advisor from North Carolina, to discuss credit scores. She explains how your credit score is calculated from all the information in your credit report. By understanding these components, you can identify which actions will help build your credit score when you're just getting off the ground. She then relates what you can do to improve a less-than-ideal credit score. With this knowledge and self-awareness, you can judge when to use credit opportunistically and when to be appropriately cautious.
Episode ReferencesBrittany Mollica, CFP
Hilltop Wealth Advisors - Master your Credit Score
Experian and "My Credit Score"
annualcreditreport.com FAQ
Transunion: What is a Credit Score?
Experian: Is Employment Listed in your Credit Report?
Fixing Errors on your Credit Report
Nerdwallet: Credit Card Bonus Offers
Credit Karma
https://mint.intuit.com/
What Happens to Debt After 7 Years?
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.
The simplest financial advice for someone in their 20's is to Save More.
In this episode, Aaron and Trishul discuss the simplest financial advice they can give someone in their 20's. It is to Save More. They go deep on all the reasons why this simple advice is so fundamental to every other financial objective. They discuss the implicit benefits of spending less, maxing out your 401k, and compound growth. Saving more can give you flexibility, options, and a sense of control of your life. So invest smarter, not harder by saving sooner rather than later.
Episode References
Investing Forever - Passive Is the New Aggressive
Graystone Advisor - Financial Independence at 55 or 65?
F.I.R.E.
Simple Math behind Early Retirement
Years to Retirement
MMS #56 - The most important rule in finance
Kitces - The Real Reason Big Savers Retire Early
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.
In this episode, Trishul and Aaron start by comparing value versus momentum investing. They then go down the rabbit hole of why momentum strategies work (in theory). The behavior of humans wanting more and more has been around longer than the stock market. The Fear Of Missing Out and Keeping Up With The Joneses come from how we feel when making emotion-driven comparisons. And so, if you acknowledge these feelings, but then focus on the decision-making process, you may find you are happier in the end, regardless of the result.
Episode References
MMS #63. So what actually happened with GameStop?
Investing Forever - Passive Is the New Aggressive
Investing Forever - Efficient Market Hypothesis
Investing Forever - The world is full of bad drivers
Value and Momentum Everywhere
How to Cope with FOMO
How to Overcome FOMO
Buddha quote
Greater Fool Theory
Always Forward
The Social Dilemma
Warren Buffett Quote
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.
In this episode, Trishul and Aaron look back at what happened with GameStop and use this crazy, quixotic story to examine different aspects of trading equities. They explain shorting stocks, margin calls, and the impact of large trading volumes. They then highlight how hedge funds, Reddit's WallStreetBets, and Robinhood created a whirlwind of chaos, with GameStop caught in the middle. In the end, they uncover a fascinating intersection between classic stock market irrationality and modern technology.
Episode References
Short Selling
Margin Call
Reddit/WallStreetBets
Short Margin Requirements
Quote: GME
Regulation SHO
Easy To Borrow List
https://i.redd.it/1wpfodbyb6f61.png
Greater Fool Theory
Could the GameStop saga have unfolded in any other country?
GameStop Timeline
This short seller just got a $2.75B bailout
Failure to Deliver
Melvin Capital Closes out its GameStop position
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.
You've read about the importance of opening a Roth IRA and buying ETFs, but how do you do it in practice? In this episode, Aaron and Trishul go through the introductory building blocks of saving and investing. Often the fear of making mistakes prevents you from taking that critical first step. From choosing a custodian and the correct type of account to figuring out how to transfer funds, what to invest in, and how to place a trade, they go step-by-step to help you overcome analysis paralysis and take action. So don't hold off. Invest as early as possible and give yourself plenty of time for your money to grow.
Episode References
MMS Roth IRA
MMS Estate Planning
MMS Bitcoin
MMS Buying stocks for fun
Investing Forever - Where should you turn to for advice?
Investing Forever - Don't Miss Out
Investing Forever - Passive Is the New Aggressive
Vanguard Target Date
JTWROS
457 and 403 Plans
Differences between Custodian and Prime Broker
Roth IRA 5-Year Rule
SECURE Act
Roth IRA Withdrawal Rules
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.
In this episode, Trishul and Aaron discuss investing and emotions when markets are at all-time highs. Should you capture some of your gains or wait for a dip to buy? By focusing on the process and separating your lifestyle concerns from your investment statements, you can mitigate your stress and anxiety. And for most people, the fact that markets are at all-time highs should not factor into your investment process at all.
Episode ReferencesMMS - #43. Asset Allocation
Investing Forever - Market Timing 101
Investing Forever - Why Buy-And-Hold Can Save You BIG.
Investing Forever - Small Difference, Big Deal
VOO Returns
VT Returns
Government Debt-to-GDP
Debt-to-GDP Historical
Interest as a Percent of GDP
S&P 50 Shiller P/E Ratio
Gross World Product
Only Investing at Market Peaks
Investing at All-Time Highs
Invest Lump Sum
Serenity Prayer
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.
In this episode, Aaron and Trishul try to parse out blockchain, cryptocurrencies, and Bitcoin. One is a revolutionary technology, one can potentially change the world of banking, and one has dominated recent headlines. They first dig into the distinctions among these concepts. They then discuss whether Bitcoin is a store of value like gold or a speculative investment like a start-up. But beware, if you are removing regulated institutions from the process, there is no one to help you find your lost keys if you "misplace" them.
Episode References
MMS - #2. Buying stocks can be fun, but don't fall into these common traps.
MMS - #45. Our Dysfunctional Voting System
MMS - #14. Future Innovations
NYT: Bitcoin Passwords Wallets Fortunes
Quote: BTC
Warren Buffett Quotes
Bitcoin for Beginners
ICO
US Postal Service Patent for blockchain voting
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.
In this episode, Trishul and Aaron go deep into options. Not employee stock options, but calls and puts. The ones you can buy or sell on your own. Well, at least Trishul goes deep. He recalls previous strategies he executed in a past life as an options dealer and trader. Casinos and insurance companies get paid for taking on risk. But they also diversify risk to stay in business. Buying options may have a negative expected value, but sometimes the protection is worth the price. The key is figuring out when.
Episode ReferencesMMS #21. Why the VIX is useless.
Black-Scholes Calculator
Black-Scholes
Black-Scholes Model
http://fxoptionpricing.com/
Geometric Brownian Motion
Wiener Process
Options Strategies
Getting to Know the Greeks
Vanna-Volga Pricing
Stochastic Volatility
Asian Option 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.
In this episode, Aaron and Trishul discuss behavioral finance and behavioral economics in the context of last year's coronavirus rollercoaster. Humans are optimistic and pessimistic beings. And some of us are both at the same time, which seems like a contradiction. By acknowledging these sometimes conflicting feelings and focusing on the decision-making process, you can overcome emotional barriers to make wiser, more rational choices over time. And the benefits to your long-term well-being can be incredible. So why not make the shift in your life?
Episode ReferencesMMS: Buying Stock For Fun
Investing Forever - The World Is Full of Bad Drivers
Investing Forever - Recency Bias
Investing Forever - Instinct Can Be Deceiving
Investing Forever - Worst Timing Ever
Investing Forever - Famous Amos and Noble Daniel
Investing Forever - Why Investment Mistakes Persist
Prospect Theory
Graystone: Emotions Related to Investing 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.
In this episode, Trishul and Aaron explore a few areas that you will be better off addressing at the beginning of the year. You can make all of your Traditional and Roth IRA contributions in January to benefit from compound growth sooner. You might even increase your 401k contributions around this time to maximize your annual benefit. Further, January is a great month to increase your savings rate by 1% to help your future self. Aaron then discusses many substantial benefits of exercising Incentive Stock Options in January. There's no penalty for missing some of these, but life is just a little easier if you take action now.
Episode References
MMS: Roth IRAs
MMS: ISOs
Graystone: ISOs
Roth & IRA Contribution Limits
Early IRA Contribution
2020 Solo 401k Contribution Deadline
Payroll Tax Deadlines
1099 Deadlines
2020 Estimated Tax Payments Due
Self Employed Care Givers 1099 Taxes
Backdoor Roth IRA
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.
In this episode, Aaron and Trishul have fun with math. Granted, this is likely the last thing you think about when it comes to having fun. But at least they end up entertaining themselves. The two discuss compound growth, Manhattan, and Benjamin Franklin. They also relate how the easiest way to benefit from compounding is to start early. Even so, it's never too late to begin planning for the future. They then explain how and why the Rule of 72 works. And in the end, they ask each other their favorite numbers. Just for fun.
Episode ReferencesMMS: Buying stocks for fun
Why does the Rule of 72 work?
Investing Forever - Luck versus Skill
Investing Forever - Why Invest Forever?
Investing Forever - One Lifetime of Wealth
Investing Forever - A Little Goes a Long Way
Investing Forever - Rule of 72
Investing Forever - Just Another Founding Father
Investing Forever - Seeking Rent
Investing Forever - Devil Meets Details
Arithmetic vs. Geometric Average
Einstein - Compound Interest
Tony Gwynn
UCLA History
Leonhard Euler
The Wyatt Earp Effect
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.
In this episode, Aaron and Trishul reflect on past New Year's Eve celebrations, from staying up until midnight as a child to partying as an adult. But now that they have young kids, New Year's Eve is much tamer. Living on the West Coast, Aaron appreciates celebrating at midnight Eastern Time so he can get to bed at a reasonable hour. Given COVID-19 concerns, this year most households likely will "party" the same way as parents with young kids do; by staying home. Even so, there is one thing that we can all get excited about--it is that 2020 is officially over.
Episode ReferencesMMS #24. Always shop around for insurance, and above all avoid these common traps.
New Year's Eve Safety Tips
Eastern Time vs Pacific Time
Walking Drunk
Year End Charts
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.
In this episode, Trishul and Aaron think about the various Christmas gift-giving traditions they have enjoyed over the years. From childhood arts and crafts, to cash in their teenage years, to coordinated gift exchanges as adults, giving and receiving presents evolves as we age. They discuss Secret Santas and White Elephants. They also highlight the fine line between a gift card being appropriate and just being lazy. And finally, Aaron reveals his secret to giving the perfect gift.
Episode ReferencesMMS #49. Gift like a Pro. Don't let the Tax Man steal your holiday cheer.
Reddit Secret Santa
Bill Gates Secret Santa
Dilbert and Dogbert exchanging gifts
White Elephant
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.
In this episode, Trishul and Aaron provide a quick primer on common and useful statistical methods. Mean, median, mode, standard deviation, bell curves, and so on. With a normal distribution, the mean should equal the median, and the law of large numbers allows you to make inferences between a sufficiently large sample and the overall population. Unfortunately, most things don't behave as "normally" as we would like. And this is where things can get tricky. Even so, maybe Warren Buffett is just a beneficiary of the Wyatt Earp Effect, which is a great reason why you need to understand the fundamentals of statistics before you put your hard-earned money to work in the financial markets.
Episode ReferencesMMS #21. Why the VIX is useless.
Investing Forever - Risk Management 101
Investing Forever - Intro to Vol
Investing Forever - Intro to Histograms
Investing Forever - Nothing Is Perfect
The Wyatt Earp Effect
Random Variable
Sample Size
Population Heatmaps
Random Stock Picking
Difference Between Mean and Median
Skewness
Kurtosis
Warren Buffett says Index Funds are the Best Investment
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.
Given that Trishul and Aaron release an episode each week, episode #52 means they have been at this for one full year. In this episode, they recount their top-five favorite conversations. They also look back and highlight some overarching themes. They discuss the importance of saving more and asset allocation and why the concept of a spectrum keeps coming up again and again. But what they appreciate the most is how they have worked together to communicate knowledge and understanding as they have explored the nuances and complexities behind a wide range of money-related topics.
**Episode References
Aaron's Top 5MMS #1. What's the big deal about FIRE?
MMS #13. Is Real Estate just a real pain? Or are the psychological benefits worth the costs?
MMS #18. Why happiness is not the answer to your problems.
MMS #28. Is a million dollar higher education worth it? Your kids may not think so.
MMS #35. Parents: How to face an impossible decision without losing your sanity. Trishul's Top 5**MMS #1. What's the big deal about FIRE?
MMS #2. Buying stocks can be fun, but don't fall into these common traps.
MMS #27. Can a universal basic income really pay for itself?
MMS #38. The U.S. tax system is screwing you over. Here's what you can do about it.
MMS #41. What does academia really have to say when it comes to investing in stocks?
Aaron Agte interview in Fatherly.com
Investing Forever - My Story
Serenity Prayer
Passive AUM matches active for the first time
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, MindMoneySpect
In this episode, Aaron and Trishul discuss New Year's resolutions. Well, not exactly. They relate how self-improvement doesn't need to coincide with an arbitrary date. They then go over different strategies to help nudge you towards sustainable habits, such as focusing on small incremental improvements and compounding, tracking your progress, and giving yourself eight times longer to accomplish a goal. Success has more to do with discipline than motivation. So once you've made the commitment, keep at it just for the sake of doing it. After eight years, you will look up and be impressed by the progress you have made.
Episode ReferencesMMS #17. How to take advantage of your lazy brain.
New Year's Resolution
Tips for Keeping New Year's Resolutions
New Year's Resolution Ideas
Train the Brain
College students not getting enough sleep
Sleep Hygiene
Outdoors
Compound Interest
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.
2020 has created a unique situation for engaged couples. Given social distancing concerns, many have decided to postpone their weddings. But if your relationship is ready, would you be better off getting married this year anyway? In this episode, Trishul and Aaron explore the intersection of tax planning and getting married. They discuss the impact of different tax brackets, the marriage incentive or marriage penalty, and community property versus separate property states. They then highlight estate planning concerns, which can also depend on where you live. Your relationship should still be the defining factor in whether to get married. But it is worth understanding some vital tax effects beforehand. With solid planning, you might even save enough to cover the cost of your honeymoon.
Episode ReferencesMMS #32. These estate planning tips can save you big time.
Why does the government incentivize marriage?
Marriage Tax Changes
Investopedia - What to consider before marrying
Investopedia - Prenup
Community vs. Separate Property
Tenants In Common
MacKenzie Scott - World's richest woman
Tax Brackets
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.
In this episode, Aaron and Trishul apply previous conversations about happiness and well-being to the upcoming holidays. Being conscious and aware of the things that provide happiness OR the things that create stress can help you focus on ways to increase the former and decrease the latter. They reminisce over holiday nostalgia. They discuss the impact of expectations and the need to get creative for the 2020 holiday season. Prioritizing time over money is a big theme in increasing happiness for both the gifter and the giftee. And because they just couldn't help themselves, they discuss Qualified Charitable Distributions and gifting appreciated stock to charities.
Episode ReferencesMMS #32. These estate planning tips can save you big time.
Investing Forever - Wills and Trusts: How are they different?
WebMD - Holidays Stress Tips
Mayo Clinic - Stress Management
Americans Spend Generously
Financial Stress and Traditions
Holiday Spending Report
QCD - Qualified Charitable Distribution
Gift Tax Calculation
Gifting Stocks
CamelCamelCamel - Amzon Price Tracker
Black Friday
Adam Smith
CARES Act
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.
In this episode, Trishul and Aaron discuss end-of-year tax planning, principally as it relates to your investments. During this period, you already know most your entire financial situation for the year. But also you still have time to take meaningful action before December 31st. Valuable strategies around this time involve tax-loss harvesting, RMDs, exercising ISOs without going into AMT, and Roth conversions. End-of-year tax planning does not always mean you should lower your taxable income. But instead, you should target a tax bracket that will help reduce your overall tax burden over your entire lifetime.
Episode ReferencesMMS #19. Life doesn't need to begin at retirement. Here's why.
MMS #31. Watch out for these costly mistakes with your taxable investments.
MMS #26. Practical advice on navigating a dysfunctional healthcare system.
MMS # 43. Is your asset allocation putting your retirement at risk?
Graystone Advisor - Exercising ISOs
Investing Forever - It's all about fees.
Investing Forever - Don't miss out, you'll regret it.
Investing Forever - Ira is your friend.
Rebalancing: A sound strategy for limiting risk
Offsetting Gains through tax-loss harvesting
Capital Gains Taxes and Portfolio Rebalancing
Wash Sale Rule
SECURE Act
CARES Act
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.
In this episode, Aaron and Trishul discuss the incentives that influence politicians. Naturally, this means addressing campaign finance reform. If a politician's primary goal is to get re-elected, he or she may focus on fundraising and nudge-nudge-wink-wink quid pro quos with large donors rather than working to improve constituent well-being. Aaron and Trishul look at the history of campaign finance laws, including Citizens United. And so they try to find the balance between free speech and allowing PACs to spend unlimited amounts of money. They then discuss a few ideas for improvement, including Voting With Dollars, anonymizing donations, and the CFR28 Logic Puzzle.
Episode References
MMS #45. Politicians don't want you to know this about our dysfunctional voting system.
CFR28 Logic Puzzle Explained
Stock Trading by US Senators
Lobbying and Campaign Finance
After Citizens United: How Outside Spending Shapes American Democracy
Campaign Finance Reform: History and Timeline
Citizens United Explained
Hillary: The Movie
Lobbyists: Background
Campaign Finance Reform in the US
United States of ALEC
US Senator Trading Sentiment
Insider Trading is business as usual for our politicians
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.
With the election coming up, many people wonder if they should temporarily modify their investment strategy until the results are known. The short answer is no. Trishul and Aaron discuss the emotions that arise from uncertainty. They also go through a decision tree to help clients understand why it makes sense to maintain the same asset allocation they have been using all along. On the other hand, there may be some tax and estate planning opportunities that can develop depending on the outcome of the election. But no need to worry just yet; all this can wait until after November 3rd.
Episode ReferencesMMS - #2. Buying stocks can be fun, but don't fall into these common traps.
MMS - #41. What does academia have to say about what really works when investing in stocks?
MMS - #42. Investment strategies evolve, but is your portfolio stuck in a foregone era?
MMS - #32. These estate planning tips can save you big time.
Investing Forever - Why invest in one thing over another?
Investing Forever - Efficient Market Hypothesis
Investing Forever - Passive is the new aggressive
Investing Forever - Wills and Trusts: How Are They Different?
S&P 6 months ahead of an election
Stock market before and after elections
Financial Planning for a Biden Tax Plan
Tax Plan Proposals
70% of Trump's Tax Laws benefit the wealthiest 1%
Remain Solvent (Quote)
Warren Buffett - Be Fearful When Others Are Greedy
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 lives in California, and Trishul lives in Pennsylvania, and it feels like Trishul's vote for the President is worth more than Aaron's. In this episode, they discuss the American voting system and how it influences and incentivizes certain behaviors over others. They consider alternative voting structures used around the world and examine past elections to understand how they may have played out with a different system in place. The purpose of a voting system is to provide the most accurate representation of what the electorate wants. But is it even possible to implement something better given all the conflicts of interest involved?
Episode ReferencesElectoral Systems
NY Times - Poorer Americans have lower voting rates
USPS files patent for blockchain based voting
Intelligence bulletin warns Russia amplifying false claims mail-in voting will lead to widespread fraud
Is the USA a Republic or a Democracy?
US Electoral College
Swing State
Faithless Elector
First past the post voting
Proportional Representation
Ranked Voting
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.
In this episode, Aaron and Trishul discuss concentration risk and when it might be acceptable to take it on. If you have the willingness, ability, and need, increasing your concentration risk may be a way to pursue wealth maximization over the greater probability of achieving a specific goal. But do understand that behavior and emotion can come into play when deciding whether to diversify. Even if you hold a globally diversified portfolio of stocks and bonds, or if you are sitting in cash, you might already have excessive concentration through your place of employment. So, in the end, consider employing a robust decision-making process to help you determine the appropriate level of risk that makes the most sense for your situation.
Episode ReferencesMMS - #2. Buying stocks can be fun, but don't fall into these common traps.
MMS - #41. What does academia have to say about what really works when investing in stocks?
MMS - #42. Investment strategies evolve, but is your portfolio stuck in a foregone era?
MMS - #43. Is your asset allocation putting your retirement at risk?
Graystone Advisor - RSUs
Graystone Advisor - Netflix employee stock options
Graystone Advisor - Appropriate asset allocation for different goals
Investing Forever - Why invest in one thing over another?
Investing Forever - Efficient Market Hypothesis
Investing Forever - Risk, Everywhere
Investing Forever - Why buy-and-hold can save you big
Investing Forever - Passive is the new aggressive
Steve Jobs - Most of His Wealth Actually Came From Disney, Not Apple
Callan Periodic Table of Investment Returns
How is the Value of the S&P 500 calculated?
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.
In this episode, Trishul and Aaron discuss the risks and rewards of potential investments across various asset allocation decisions. They cover cash, bonds, stocks, options, and other even more exotic instruments. What are the two variables that determine the risk-return profile of a bond? And where do small-cap and international stocks fit into the big picture? And what about the idiosyncratic risk of a single stock versus a diversified basket? If you understand these various risks and rewards, how do you then figure out what is appropriate for your specific situation?
Episode References
MMS - #2. Buying stocks can be fun, but don't fall into these common traps.
MMS - #41. What does academia have to say about what really works when investing in stocks?
MMS - #42. Investment strategies evolve, but is your portfolio stuck in a foregone era?
MMS - #13. Is Real Estate just a real pain?
Graystone Advisor - I sat in cash while the market was up 42%
Graystone Advisor - Buying Stocks For Fun
Graystone Advisor - Netflix Employee Supplemental Stock Options
Investing Forever - Why invest in one thing over another?
Investing Forever - Efficient Market Hypothesis
Investing Forever - Risk, Everywhere
Investing Forever - Why buy-and-hold can save you big
CFA - Setting the record straight on asset allocation
Investopedia - Tax Treatment for Call & Put Options
US 10 Year Treasuries
Max My Interest
Consumer Price Index
What SIPC Protects
FDIC
Why Money Market Funds Break The Buck
Difference Between Preferred Stock and Common Stock
Annual Asset Class Returns
The Case Against Investing In Commodities
Zero-Sum Game
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.
In this episode, Trishul and Aaron discuss how investing has evolved over the years. From the notion of partial ownership as an investment to the first stocks, stock exchanges, and stockbrokers to the mutual funds and ETFs of today. They consider how incentives influence behavior and how, in the past, fee structures may have influenced investment professionals to the detriment of the investor. Diversification and asset allocation are paramount when investing, so how do mutual fund and ETF securities help with all this? When looking at managed and pooled investments, what components are vital, and which aspects are just fancy marketing techniques at play?
Episode References
MMS - #2. Buying stocks can be fun, but don't fall into these common traps.
MMS - #41. What does academia have to say about what really works when investing in stocks?
Investing Forever - The world is full of bad drivers
Investing Forever - Luck versus Skill
Investing Forever - Passive is the new aggressive
Investing Forever - Why invest in one thing over another?
Investing Forever - Farewell, Jack
Investing Forever - Efficient Market Hypothesis
Warren Buffett Says That 99% Of Investors Should Not Even Try To Beat The Market
Renaissance Technologies
The World's Biggest Companies in History
Code of Hammurabi
Survivorship Bias
Stockbroker
A Brief History of Investment Companies
A History of Investing
Wellington Fund
Investment Company Act (1940)
Alfred Winslow Jones
Notable Hedge Fund Managers
Warren Buffett, Investment Career
Ruane, Cunniff & Goldfarb
Bausch Health
The Wyatt Earp Effect
The History of Mutual Funds
Mutual Fund History
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.
In this episode, Trishul and Aaron discuss the academic research that has informed investing strategies over the past 90 years. Value & Momentum, Modern Portfolio Theory, Efficient Market Hypothesis, Factor Analysis, Asset Allocation, and more. They cover everything you need to know to sound intelligent with your investment club. But the big picture is that all this knowledge won't increase your odds of beating the market. Even though many of these breakthroughs resulted in Nobel Prizes, as more investors flooded to adopt cutting-edge strategies, superlative returns became ever more elusive. It turns out some of these winning approaches do work some of the time, as theory would suggest. However, none of them work with sufficient consistency. Furthermore, it's likely impossible to identify the periods when a strategy will work as intended. In the end, you may be better off finding something better to do with your time and money than trying to outsmart the market.
Episode References
MMS #2. Buying stocks can be fun, but don't fall into these common traps.
MMS #21. Why the VIX is useless.
Investing Forever - Why investing in one thing over another?
Investing Forever - Efficient Market Hypothesis
Modern Portfolio Theory
Idiosyncratic Risk
Benjamin Graham
Capital Asset Pricing Model
Fama French Three-Factor Model
Setting the Record Straight on Asset Allocation
Momentum Investing
Modern Portfolio Theory vs Behavioral Finance
WarGames (1983)
Obsoleted
Remain Solvent (Quote)
Value and Momentum Everywhere
Flash Boys by Lewis
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.
In this episode, Trishul and Aaron get wonky as they try to explain Modern Monetary Theory. They introduce the difference between monetary policy and fiscal policy. And they try to explain how fiat currency, currency issuers, national debt, federal deficits, and debt service are all related. They discuss Stephanie Kelton's new book, The Deficit Myth, and some of the concerns of MMT. If deficits are not inherently good or bad, do you trust Congress to spend your hard-earned money wisely?
Episode References
MMS #27. Can a Universal Basic Income really pay for itself?
Investing Forever - One Lifetime of Wealth
At War with the Truth
U.S. Spending War on Terror Stands at 6 Trillion
Do 70% of the Benefits of the Trump Tax Law Go to the Top 1%?
Book Review of The Deficit Myth
Review of Stephanie Kelton's Deficit Myth
U.S. Debt Clock
U.S. Deficit by Year
7 Charts Showing that the Trumps Tax Cuts Are Not Economic Rocket Fuel
Social Programs Can Sometimes Turn a Profit for Taxpayers
The Deficit Myth - by Stephanie Kelton
Government Deficits vs. Private Sector
Stephanie Kelton - Twitter Page
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.
When everything shut down in March due to the COVID-19 pandemic, most people were able to hunker down to get through an acutely stressful period. But as this pandemic became an ongoing, chronic concern, we now understand that new coping mechanisms are essential. To move forward, it may even help to reflect on the five stages of grief; denial, anger, bargaining, depression, and acceptance. In this episode, Trishul and Aaron discuss how their feelings have changed over the last few months and some of the ways they are trying to keep at it one day at a time.
Episode References
MMS #37. How to get rich and never pay a dollar in taxes.
Investing Forever - Coronavirus: What Do We Know Now?
FlowFP - Thriving in the time of COVID
Older Adults with Existing Depression Show Resilience During the Pandemic
Americans Are Stressed Out According to Gallup Poll
Why the Coronavirus Is Leading So Many Couples to Divorce
List of Ongoing Armed Conflicts
The 5 Stages of Loss and Grief
Coronavirus and the Pandemic: Social Distancing for 18 Months
Exercise as a Depression Treatment
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.
In this episode, Trishul and Aaron discuss more ways the U.S. tax system helps the wealthy. Qualified Small Business Stock, self-directed IRAs, and Grantor Retained Annuity Trusts are all legal means by which rich people can side-step millions or potentially billions in taxes. But these are not just random loopholes. Now, corporations can legally spend unlimited sums of money lobbying politicians to write laws that favor, you guessed it, the wealthy. That's why it makes fiscal sense for a corporation to spend a billion dollars lobbying to save ten billion in taxes. In the end, if we think income inequality is a big deal, the first step to change is to understand how easy it is for the wealthy to avoid paying their fair share.
Episode References
MMS #37. How to get rich and never pay a dollar in taxes.
MMS #27. Can a UBI really pay for itself?
MMS #32. These estate planning tips can save you big time.
The Veil of Ignorance
The Biggest Companies Pay the Least in Tax
Facebook and the IRS Prepare for a 9 Billion U.S. Tax Court Fight
The 100 Million Dollar Mitt Romney IRA
How the Super-Rich Ducked 100 Billion in Estate Taxes since 2000
How Walmart's Waltons Are Using Charitable Trusts
The Walton GRAT
CRAT, CRUT, CLUT, GRIT, GRAT, and GRUT
U.S. Deficit by Year
Citizens United Explained
Who Pays More Taxes: Rich or Poor?
Who Are the One Percent in the U.S.?
Richard Wolff on Economic Inequality
Qualified Small Business Stock (QSBS)
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.
In this episode, Aaron and Trishul discuss all the different types of taxes in the United States and their impact on income inequality. They discuss regressive consumption taxes, progressive income taxes, and how taxes are lower for businesses and the wealthy. They also examine the difference between marginal tax rates and effective tax rates. Do you know all the ways that corporations and their owners avoid paying taxes? Maybe our society has collectively decided that this is acceptable? Or perhaps its the maximum marginal brackets on corporations and individuals that affect public perception, when it is, in fact, our tax system that hinders income earners while helping the wealthy.
Episode References
MMS #14. These key innovations will change everything.
MMS #27. Can a UBI really pay for itself?
Federal Income Tax Calculator
Piketty’s Inequality Story in Six Charts
Sin Taxes Punish the Poor
Sin Tax Examples
2019 Tax Brackets
Capital Gains Tax Rates
A 95 Year History of the Maximum Capital Gains Tax Rate
How to Borrow for Free
Zuckerberg's 1% Mortgage
Accounting Tricks
Apple Wins EU Court Battle Over Unpaid Irish Tax Bill
What Is a Tax Haven?
What is a Wealth Tax?
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.
In this episode, Aaron and Trishul discuss the value of a financial advisor and the impact that financial planning can have on the lives of clients. A disciplined investment strategy and increased savings over time can lead to a higher net worth for clients than if left to their own devices. Also, advisors help clients find small but meaningful opportunities while avoiding seemingly small mistakes that can compound over decades. Beyond the dollars, clients consistently express that the trust and peace of mind from knowing someone is taking care of all the little things reduces their stress and improves their overall well-being.
Episode References
Graystone Advisor - What should I look for in a Financial Advisor?
MMS #15. George Kinder: Three life questions that will change everything.
Advisor Network Files Lawsuit Against the SEC
Investing Forever - Where should you turn to for advice?
Investing Forever - Fiduciary Oath
Investing Forever - 1.5% is a rounding error, right?
Investing Forever - Beware: This Strategy Could Cause You To Lose Your Shirt.
Investing Forever - Passive Is the New Aggressive
Investing Forever - Follow the Money
Investing Forever - How can I help you?
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.
In this episode, Trishul and Aaron discuss how they are doing as parents during COVID-19. They share recent experiences dealing with their kids of different ages. And they describe how they are struggling to make decisions about how to move forward. Between work and school, parents find themselves stuck between a rock and a hard place. And it's not going to get any better any time soon. They spoke with other parents and teachers, and they concede that no option feels ideal. Given how difficult everyone's lives are now, they have learned not to hold it against any parent. Anything goes during these tough times. And the best we can do is to take it one day at a time.
Episode References
In the Covid-19 Economy, You Can Have a Kid or a Job. You Can’t Have Both.
Investing Forever - Coronavirus: What Do We Know Now?
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.
In this episode, Aaron and Trishul discuss Restricted Stock Units. In addition to stock options, RSUs are the other common form of equity compensation. They explain how Restricted Stock Units can work like a bonus paid by stock instead of cash. They go in-depth on vesting schedules and the difference between publicly traded companies and private (pre-IPO) companies. They then compare RSUs to options to help you understand the risks and taxes associated with each. So if your salary is providing for your lifestyle, how can you use this "extra" money to improve your well-being?
Episode References
Graystone Advisor - How do RSUs work?
Graystone Advisor - When do I Exercise my Incentive Stock Options?
MMS #33. If you have Incentive Stock Options, you need to listen to this episode.
MMS #2. Buying stocks can be fun, but don't fall into these common traps.
Stock Options 101: ISO vs. NQSO vs. Restricted Stock Units
Home Country Bias
Investing Forever - Passive Is the New Aggressive
IRS Code Section 409A
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.
In this episode, Aaron and Trishul discuss the factors employees must consider when exercising their stock options. They go into strike price, Fair Market Value at exercise, sales price, and tax implications. They explain the difference between Non-Qualified Stock Options and Incentive Stock Options. They also introduce leverage, the Alternative Minimum Tax, and Golden Handcuffs. In the end, the decision of when to exercise options often lies on a spectrum between a sensible investment decision and a sensible tax decision, with most people falling in the gray area in the middle.
Episode References
Graystone Advisor - When do I Exercise my Incentive Stock Options?
MMS #21. Why the VIX is useless.
Stock Options 101: ISO vs. NQSO vs. Restricted Stock Units
Qualified Small Business Stocks Are More Attractive
IRS Code Section 409A
Always File Your 83b
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.
In this episode, Trishul and Aaron try to introduce all the nuance and complexity behind estate planning. They explain how the step-up in basis on taxable accounts can be better for heirs than inheriting a Traditional IRA. They then discuss wills and trusts, both revocable and irrevocable. Then there are community property states vs. separate property states. Don't forget the estate tax exemption, the annual gift tax exemption, and the lifetime gift tax exemption. Yikes! There are so many little caveats that there is no universal estate planning recommendation, other than that you need to plan ahead because it'll be too late after you pass away.
Episode References
Investing Forever - Wills and Trusts: How Are They Different?
Investing Forever - Making Sense of Estate Planning Terminology
Investing Forever - What's so Great About a Revocable Living Trust
Investing Forever - I Have a Trust, Now What?
Investing Forever - Estate Planning: Get Started Today
IRA Announces Higher Estate and Gift Tax Limits for 2020
Internal Revenue Code, 1014. Basis Of Property Acquired From A Decedent
Understanding Stepped-Up Basis
Deathbed Tax: Take these Steps Now to Save Later
Three Year Rule
IRA Announces 2015 Estate and Gift Tax Limits
IRA Rules on Gifts (FAQ)
Guide to Beating the New Death Tax - The End of the Stretch IRA
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.
In this episode, Aaron and Trishul discuss how taxes work in non-qualified investment accounts. Without account-level IRS rules or benefits, it's the actual investments inside of these accounts that drive the tax implications. Savings accounts and bonds generate taxes on interest. Stocks may have dividends and capital gain taxes, which depend on your income and holding period. And mutual funds can create a tax burden even if you don't sell any shares. Given all this, how do you think about which investments to pick and what type of account to use? They compare different strategies, expand on the benefits of buy and hold, and discuss asset allocation versus asset location. By understanding after-tax total return, you can find the gray area on the spectrum between investments and taxes that makes the most sense for your situation.
Episode References
MMS #2. Buying stocks can be fun, but don't fall into these common traps.
Investing Forever - Taxes: What Does This All Mean?
Investing Forever - Tax Man Saves the Day
Investing Forever - Why Buy-And-Hold Can Save You BIG.
Investing Forever - Small Difference, Big Deal
Investing Forever - Ira is Your Friend
Investing Forever - Careful. There’s more to think about than just your IRA.
Investing Forever - You Can’t Spend the Same Dollar Twice
Investing Forever - Passive Is the New Aggressive
Investing Forever - Why Invest in One Thing Over Another?
Investing Forever - Don't Leave Money on the Table
Capital Gains Tax Rates in 2020
Dividend Tax Rate
Dividends versus Buybacks, Which Is Better?
Ask the Tax Girk: Interest Less Than $10
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.
In this episode, Aaron and Trishul discuss everything Roth, including Traditional IRAs vs Roth IRAs, Traditional 401(k)s vs Roth 401(k)s, and IRAs vs 401(k)s. There's also Roth Conversions and Back-Door Roth Contributions to consider. And Trishul even throws in some HSA and 529 pointers. Contributing to a Roth IRA or 401k is advice commonly found on the internet. But now you can understand the alternatives involved, including why a Roth can make sense and why it sometimes doesn't.
Episode References
Wikipedia - Roth IRA
Wikipedia - Individual Retirement Account
Roth Rules
401k Contribution Limits
IRA Contribution Limits
Substantially Equal Periodic Payment (SEPP)
Complete 2019 Guide to Health Savings Accounts
Investing Forever - Taxes: What Does This All Mean?
Investing Forever - Tax Man Saves the Day
Investing Forever - Why Buy-And-Hold Can Save You BIG.
Investing Forever - Small Difference, Big Deal
Investing Forever - Ira is Your Friend
Investing Forever - Careful. There’s more to think about than just your IRA.
Investing Forever - You Can’t Spend the Same Dollar Twice
IRS Finally Says Backdoor Roths Are OK
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.
In this episode, Aaron and Trishul discuss financial planning strategies for people in their 60's. They explain the logic behind why financial planners recommend delaying Social Security until age 70. They also discuss Roth Conversions and ACA subsidies and why a year of no or low taxes is a missed opportunity. Once Social Security and Required Minimum Distributions begin, this additional taxable income makes strategic tax planning more difficult. Like many things, planning far in advance provides more opportunities for an optimal strategy.
Episode References
MMS #12 Sequence of Returns Risk
MMS #24 Always Shop Around for Insurance
Roth Rules
Investing Forever - Taxes: What Does This All Mean?
Investing Forever - Tax Man Saves the Day
Investing Forever - Why Buy-And-Hold Can Save You BIG.
Investing Forever - Small Difference, Big Deal
Investing Forever - IRA is Your Friend
Investing Forever - Careful. There’s more to think about than just your IRA.
Investing Forever - You Can’t Spend the Same Dollar Twice
IRS Says Backdoor Roths Are OK
What Is the Rule of 55?
Traditional IRA Withdrawal Rules and Regulations
Rule 72(t)
What Is the Secure Act?
What Is Cobra?
Roth vs. Traditional, Which Is Right for You?
Investing Forever - Wills and Trusts: How Are They Different?
Investing Forever - Estate Planning: Get Started Today
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, MindMoney
In this episode, Trishul and Aaron discuss the value of a college education. Why is there a correlation between household income and education? If you already have enough money saved up for college, is the piece of paper worth more than the dollars spent? And what about the knowledge gained, or the intangible networking effects, or the additional benefits of self-improvement? Aaron admits he may not have been mature enough to forego college, but Trishul thinks he likely learned more from his practical work experience. Household education and incomes may both be effects of the growing income inequality in society. So how then can we get households to emphasize the future when too many need to worry about today?
Episode References
Revisiting the Value of Elite Colleges
Investing Forever - You Can’t Spend the Same Dollar Twice
College Savings Calculator
Price History Over the Past 30 Years
Harvard Initiative to Attract Low-Income Students
College Degrees Used to Make Families Wealthier
Poor Kids Who do Everything Right don't do Better
Which Is Lower, Personal or Business Tax Rates?
Government Revenue Sources
Where do Federal Tax Revenues Come From?
Apple's Cash Mountain: How it Avoids Tax and the Irish Link
Why Amazon Pays No Corporate Taxes
Busting the Myth Behind, "Welfare Makes People Lazy"
Wealth Inequality Charts
Thirteen Economic Facts about Social Mobility
What It's Like to Be the First Person in your Family to go to College
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
In this episode, Trishul and Aaron dig into Universal Basic Income. Income inequality is a problem in the United States and UBI or a negative income tax may be a potential solution. But how does UBI fit in with a capitalist system? And how might it affect incentives for people at different levels of income? If the U.S. already provides a variety of social safety nets, moving to a UBI has the potential to increase efficiency and reduce bureaucracy. UBI can be revenue neutral, and it might even reduce overall government spending, but more study is needed. As automation displaces workers and careers, UBI could be the bridge to advance society to the next level.
Episode References
Colorado Proves Housing the Homeless Is Cheaper
Senior Citizens in Japan Are Committing Crimes
Legislation Proposes $2000 a Month for Americans
Piketty's Inequality Story in Six Charts
Richard Wolff on Economic Inequality
The 2 Trillion Stimulus and Where the Money Went
Wikipedia - Milton Friedman
Federal Poverty Level Guidelines
Most Americans Are One Medical Emergency Away from Financial Disaster
World Happiness Report
Jump in Employment Seen Among Medicaid Expansion Enrollees
Genes and Family Are the Biggest Predictors of Academic Success
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.
In this episode, Aaron and Trishul discuss the American healthcare system. Over the last generation, U.S. healthcare costs have more than doubled compared to other developed nations, but we are not any happier or healthier. So where does all this money go? How did we get to our current system? And how do we even shop around if there is no price transparency? They share some evidence and a few anecdotes to help illustrate how inefficient the current system is. In the end, they highlight a few programs to help individuals and Trishul throws in an idea that could raise GDP by 1%.
Episode References
10 Administrators for Every U.S. Doctor
World Happiness Report
Life Expectancy by Country
Investing Forever - Rising Healthcare Costs
Risking Costs of Healthcare versus CPI
Countries with Universal Health Care
Universal Health Care
Health Expenditure Per Capita by Country
Health Spending in the U.S. Compared to Other Countries
Current Health Expenditure in the U.S. Per Capita
Medical Bankruptcy Killing the American Middle Class
The History of U.S. Employer-Provided Health Insurance
The Real Reason Why the U.S. Has Employer-Sponsored Health Insurance
Origins and Evolutions of Employer Health Benefits
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.
In this episode, Aaron and Trishul discuss saving for college. How much do parents need to save to fully fund four years at UCLA, or a more expensive private school? What are the variables to consider? Will higher education costs keep rising faster than inflation? And what are the benefits of a 529 plan? The math isn't particularly complex. But trying to predict the choices of teenagers 18 years in advance requires strategic planning and flexibility.
Episode References
Cornell University - Tuition Rate Fees
U.S. News - Top National Public Universities
An Introduction to 529 Plans
Investing Forever - You Can’t Spend the Same Dollar Twice
College Savings Calculator
Free Online Courses - MIT
Free Online Courses - Stanford
Price History Over the Past 30 Years
Harvard Initiative to Attract Low-Income Students
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.
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.
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.
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.
In this episode, Trishul teaches Aaron what it means when the VIX is over 30, and things get a little wonky explaining all the technical math behind stock market volatility. They appropriately compare options to insurance and gambling. And they discuss the Black-Scholes pricing model and how market forces determine implied volatility. In the end, they discuss how understanding the VIX can be a useful tool, but trying to rely on it for investment predictions can be just as dangerous as any other future prediction methodology.
Episode References
VIX - Definition
Annualized Standard Deviation of Monthly Returns
The 68–95–99.7 Rule
Black-Scholes - Definition
Investing Forever - Risk Management 101
Investing Forever - Introduction to Volatility
Investing Forever - The Normal Distribution
VXX: Investing (Short) in Volatility
Volatility Blow-up Leads to Inverse VIX ETN Casualty
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.
Let's travel back in time to the beginning of March 2020. COVID-19 had just taken hold of our daily lives. The stock market dropped 13%, then rose 5%, and commuters roamed the Earth. In this episode, Aaron and Trishul discuss how they feel and react to big market movements. They suggest how an asset allocation incorporating a timeframe can help you take your mind off the things you can't control. They also discuss The Hedgehog and The Fox and why people follow overconfidence and headline news when they should be applying a healthy dose of skepticism. And Aaron ends up correct that a couple of months later his focus would be on lifestyle, and not the market. Unfortunately, it also means he was wrong about playing softball in April.
Episode References
RIP to the Longest Bull Market In History
Investing Forever - Why Invest Forever (Part 4)
Compare Risk (Death)
Coconuts Kill More Sharks (Actually Unfounded)
How Common Are Skydiving Accidents
If a Man Will Begin with Certainties He Shall End in Doubts
Serenity Prayer
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.
Studies show you will be better off by delaying gratification. But if you continually delay gratification without ever consuming, will you ever be happy? How do you find the balance between happiness and meaning? And when does it make sense to start spending your hard-earned savings? And do you need to wait until "retirement" to use your money for your happiness? Not necessarily. Make sure you are saving enough for the future first, THEN figure out how to enjoy your life along the way. The key is finding comfort in making sound decisions today that will benefit you in the future, even if you can't predict the future.
Episode References
Stanford Marshmallow Experiment
Some Key Differences Between a Happy Life and Meaningful Life
Meanings of Life by Baumeister
Surviving and Thriving: Fundamental Social Motives Provide Purpose in Life
Reality Versus Expectations
Happiness Equals Reality Minus Expectations
Why Life Planning Is Simply Financial Planning Done Right With George Kinder
Buy Things Off-Season To Save Money
The Relationship Between Stress and Shopping
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.
In this episode, Aaron and Trishul discuss the distinction between happiness and meaning, and things get pretty philosophical. Both are essential components of well-being, but pursuing one at the expense of the other is not the recipe for a fulfilled life. Happiness and meaning may lie on opposite ends of a spectrum, and eschewing either may be unhealthy. Instead, you should try to discover your gray area between happiness and meaning to uncover purpose. Doing this will help you to find that balance between attaining peace with your current situation and the ambition to improve yourself or society.
Episode References
Some Key Differences Between a Happy Life and Meaningful Life
Meanings of Life by Baumeister
Surviving and Thriving: Fundamental Social Motives Provide Purpose in Life
Ishmael by Quinn
We Choose to Go to the Moon by Kennedy
Human Lifespans Constant for the Last 2000 Years
Reality Versus Expectations
Happiness Equals Reality Minus Expectations
Always Forward
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.
In this episode, Aaron and Trishul explore behavioral economics. They discuss a few biases and heuristics that attempt to explain why humans and societies don't operate with their best interests in mind. They provide specific examples of how individuals or organizations can take advantage of or exploit the brain's preference to be lazy. So once you understand how your mind works, how can you take control to nudge yourself in the right direction? Listen to the end to find out.
Episode References
Nudge by Thaler and Sunstein
Thinking, Fast and Slow by Kahneman
4 Tips for Using Nudge Theory in Your Learning
The Opt-Out Solution
The Impact of Legislation on Organ Donation
Streamlining and Nudging In Voter Registration
Can One Desire Too Much of a Good Thing?
Investing Forever - The World Is Full of Bad Drivers
Investing Forever - Recency Bias
Investing Forever - Primacy Bias
Investing Forever - Serial-Position Effect
Investing Forever - Amos Tversky and Daniel Kahneman
Investing Forever - Why Investment Mistakes Persist
Why Investment Mistakes Persist
Stanford Marshmallow Experiment
Coursera - Gamification
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.
In this episode, Trishul asks Aaron about his childhood experiences and earliest memories related to money. What motivates you? What leads to the decisions you make? Where do your values come from? Often it is your experiences throughout your childhood and developmental years that matter the most. Trishul digs deep to help Aaron explore how his personal history has impacted his character and values. And listen to the end to see what lessons around money Aaron tries to teach his children.
Episode References
Kinder Institute
Life Planning is Financial Planning Done Right (video)
Seven Stages of Maturity
Marshmallow Experiment
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.
In this episode, Aaron asks Trishul Kinder's 3 Questions. These questions are designed to help you consider what freedoms in life you want to pursue. They help provide clarity to determine how you can use your money to live the life you want. Money is not our most precious commodity; it's time. This episode is not about checking things off your bucket list, but rather it's about prioritizing your actions around the things that you value the most.
Episode References
Kinder Institute
Life Planning is Financial Planning Done Right (video)
Seven Stages of Maturity
3 Questions that Will Put Your Finances and Life Right on Track
Just for You By Yash Patel (Trishul's Father)
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.
In this episode, Aaron and Trishul look years into the future with their predictions of how different technologies will impact the economy and society. How do Airbnb, Vrbo, Uber, and Lyft provide a win-win for everyone? Are the networking externalities they provide similar to Facebook and Amazon? What about blockchain and cryptocurrencies? And what about all the disruptions these changes will cause? How will society progress if the truck drivers, travel agents, and oncologists have their jobs taken over by machines? Listen to the end, where they share their vision of how free education and energy will allow human beings to pursue their happiness without worrying about money.
Episode References
Stanford (Free) Online Courses
MIT (Free) Online Courses
Automation and Unemployment
Universal Basic Income Empirical Studies
2.3 Billion People Can Now Use Bitcoin on Amazon
The Impact of Automation on the Workforce
Forecast of Smartphone Penetration in the U.S.
IBM Watson Medical Doctor
World Happiness Report
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.
In this episode, Aaron and Trishul discuss their experiences as landlords of individual rental properties over the last decade. They go over the math to help you make an apples to apples comparison to investing in a liquid stock and bond portfolio so you understand the opportunity costs involved. And even after breaking down the socioeconomic factors that affect real estate as an investment moving forward, they both agree that it is probably the psychological costs and benefits that will be the bigger factor in your decision.
Episode References
Why Rental Properties Are Not Good Investments
My Experience Owning, Managing, and Selling Real Estate
Investing Forever - Don't Miss Out You'll Regret It
Investment Property Math
Real Estate Versus Stocks, Which Has Better Returns?
Investing Forever - Don't Leave Money on the Table
U.S. Median Real Income
Walmart on Tax Day
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.
In this episode, Aaron and Trishul discuss Safe Withdrawal Rate research, focusing on "Sequence of Returns Risk"; how the returns in the first few years of withdrawals after retirement disproportionately affect the rest of your life. Given this importance, how do you balance short and long-term goals when taking current withdrawals that need to last your lifetime? By understanding spending, investment, and longevity risk, you can choose which planning risks you want to take on, and how to make adjustments along the way.
Episode References
Five Surprising Facts About Widowhood
The Impact of the Sequence of Investment Returns
You're Likely to Live Longer if You Retire After 65
Safe Withdrawal Rates With Decreasing Retirement Spending
Sequence of Return Risk in Retirement
Managing the Portfolio Size Effect
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.
In this episode, Aaron and Trishul explore the active vs. passive debate. The academic research is pretty clear that US Large Cap active managers don't outperform their benchmarks on average. But what does that even mean? And what about Warren Buffet? And what about different asset classes? And taxes? They go into index and ETF construction to help you understand where the issues may lie. In the end, even if active manager alpha is possible, it might be too impractical to identify the right manager. For instance, you won't know if you made the right call until half a lifetime later.
Episode References
Investing Forever - Passive Is the New Aggressive, Part 4
Investing Forever - Passive Is the New Aggressive, Part 5
Investing Forever - Passive Is the New Aggressive, Part 7
Warren Buffett, More Luck Than Skill?
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.
In this episode, Aaron and Trishul discuss market timing. Not necessarily for trying to identify highs and lows, but rather after you have saved up some money and chosen an ideal investment, WHEN do you put the money to work? This decision is rife with emotional ramifications and you may be 'damned' either way. They explain why goals and risk tolerance are an important part of timing your investment. In the end, a good sound decision-making process can help you look back without regret, even though there may be no way to make you feel better in the moment.
Episode References
Market Timing Defined
The Lump Sum Vs Dollar Coast Averaging Decision
Investing Forever - Why Invest Forever?
Investing Forever - Market Timing 101
Investing Forever - Passive Is the New Aggressive
Random Walk Down Wall Street by Malkiel
I Sat in Cash While the Market Was Up 42% and I was Happy About It
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.
In this episode, Aaron and Trishul discuss the final domain of well-being; health. Both physical and mental. They try to distinguish between the two aspects before agreeing that they are probably too interrelated for a distinction to be made. When choosing activities to better your physical health, you may be helping your mental health without even realizing it. It is normal to go through ebbs and flows where periods of healthy activities can sustain you through challenging times. In the end, it's not necessarily the drastic changes, but the little nudges over long periods that can have the biggest impact.
Episode References
Yoga Practice Reduces Distress
Blunting Pain's Emotional Component
A simple strategy to improve your mood in 12 minutes
Increased Mindfulness Is Associated with Reduced Procrastination
Lower Risk of Depression with Elevated Exercise
Is Running Associated with a Lower Risk of Mortality?
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.
In this episode, Aaron and Trishul discuss stress and its role in the difference between happiness and well-being. There can be times where stress reduces happiness, but actually improves well-being and life satisfaction. They explore some of the ways money and work impact stress. In general, there's probably too much stress among the population, but too little stress can sap the motivation to overcome challenges. The sweet spot of stress can lead to accomplishments that provide fulfillment, self-worth, and value to your life. Listen to the end where Aaron and Trishul share some personal stories on what they do to reduce, but not eliminate, stress with their own happiness and well-being in mind.
Episode References
Stress Research
Spending at Least 120 Minutes a Week in Nature Is Associated with Good Health
Serenity Prayer
Most Americans Can't Afford a $500 Emergency Expense
Why Some Stress Is Good for You
Why Life Planning Is Simply Financial Planning Done Right With George Kinder
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.
In this episode, Trishul and Aaron explore the impact of friends, family, and communities on happiness and well-being. This is a universal component of humanity, that provides sources of happiness regardless of economics. But it isn't enough to wait for opportunities to come up, you need to put in the effort to make it happen. They discuss how even though technology and social media can make some things easier, the cons may outweigh the pros and it is vitally important to see people face-to-face. If you can imagine how people made friends and developed connections before the internet, you can start to understand the steps you should take to develop the friendships that lead to a happier life.
Episode References
Limiting Social Media Decreases Loneliness and Depression
Social Networks, Host Resistance, and Mortality
Face to Face Interactions Not Facebook Connections Impact Health Longevity
Why A Work Usband Is the One Relationship You Need
Social Media Use Increases Depression and Loneliness
This Moai Tradition Is Why Okinawan People Live Longer
Diets in Okinawa
Four Domains of Well-Being
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.
In this episode, Aaron and Trishul try to distinguish between happiness and well-being. They explore situations where clients had achieved their goals and attained their personal definition of success, but still felt worried or concerned. If angst is ever-present and can't be resolved through rational decisions, but rather through emotional introspection, do you actually need to achieve your goals to be happy? Or can you simply choose to be happy? Is it even possible to be happy if you don't chooseto be so?
Episode References
Should you rinse your dishes before putting them in the dishwasher?
Does cooling down food first before refrigerating keep you safe?
Lehman, Ten Years On
Financial Advisers as Well-Being Advisers: Enhance Your Clients' Well-Being by Understanding Its Four Domains
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.
In this episode, Trishul and Aaron take a deep dive into the 4% rule and how it applies to FIRE. They discuss the inputs and analysis that went into the academic safe withdrawal rate research and that if you understand these inputs, you can start to make adjustments to your personal situation. The 4% rule was never designed to be a Holy Grail of retirement research, but rather a rule of thumb that still required ongoing planning. In fact, a forward-looking Monte Carlo simulation may be more helpful to most individuals.
Episode Description
Financial Independence Retire Early Website
Trinity Study
Determining Withdrawal Rates Using Historical Data
The Shockingly Simple Math Behind Early Retirement
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.
In this episode, Trishul and Aaron explore some of their personal philosophies when it comes to money and happiness. They share specific examples of how they have made intentional life decisions with their happiness in mind. Some are big, bold pursuits, while others are smaller illustrations of their individual values. In the end, it's the little things and the non-monetary goals they chose to pursue that end up making the biggest difference.
Episode References
Does having children make us happy?
Nudge Theory
The Million Dollar Link Between Wealth and Happiness
The Secret of Happiness Revealed
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.
In this episode, Aaron and Trishul explore the adage "money doesn't buy happiness" because academic research indicates that sometimes it does, but not in the way you think. We discuss short-term gratification versus long-term well-being. We explain what amputees, lottery winners, and marshmallows have in common. Wealth in itself may not impact happiness, but how it is earned and how it is used, contribute greatly to one's satisfaction in life. Listen all the way through so you can understand which financial decisions can improve your happiness and which decisions can sabotage your own well-being.
Episode References
High Income Improves Evaluation Of Life But Not Emotional Well-Being
Happy Money: The Science of Happier Spending
World Happiness Report
GDP By Country
Investing Forever - My Story
The Amount and Source of Millionaires’ Wealth (Moderately) Predict Their Happiness
Gross National Happiness
Lottery Winner Statistics
Why Athletes Go Broke
Stanford Marshmellow Experiment
U.S. Medical Debt Statistics
Four Domains of Well-Being
Investing Forever: Don't Hold Your Breath
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.
In this episode, Trishul and Aaron explore investing as a hobby. Trishul, the former hedge fund manager, calls it the world's most expensive hobby, while Aaron, the financial planner, can see why some people have fun with it. As long as you aren't risking money needed for long-term goals. And you can stomach the losses. And understand the opportunity cost. In the end, maybe most people shouldn't be buying stocks for fun?
Episode References
False Discoveries in Mutual Fund Performance: Measuring Luck in Estimated Alphas by Laurent Barras, Olivier Scaillet, and Russ Wermers
Buying Stocks For Fun by Aaron Agte
Investing Forever - World's Most Expensive Hobby
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.
In this episode, Aaron and Trishul explore the FIRE movement. Financial Independence, Retire Early. We discuss Lean FIRE and Fat FIRE and go back and forth on how important savings rates are for achieving future financial goals. We discuss how managing expenses is vital to accomplishing such savings rates. And finally, we discuss the idea that naming a movement may simply be an effective way to implement a variety of sound financial planning principles.
Episode References
Happy Money: The Science of Happier Spending by Dr. Elizabeth Dunn & Dr. Michael Norton
Financial Independence, Retire Early Website
Investing Forever - FIRE
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.