Money Expert: Buying A House Is A Mistake! Becoming Rich is Simple But You Won’t Do It!
4/30/20262 hr 14 min
Investing has been solved, but your brain is keeping you poor. Money Expert Ben Felix explains why most people make terrible financial decisions! Ben Felix is a Portfolio Manager and Chief Investment Officer for PWL Capital, and evidence-based investing expert who translates academic finance research into practical decisions for everyday people. He is known for using data, behavioral science, and simple frameworks to help people build wealth without falling for the traps of the financial industry. He explains: ◼️Why investing has already been “solved” ◼️How your brain quietly ruins your long-term financial decisions ◼️Why checking your portfolio too often can make you poorer ◼️Why buying a home is not always the smart investment people think it is ◼️Why young people may not need to save as aggressively as they’re told ◼️How to use money to build a better life, not just a bigger bank account ◼️The biggest financial mistakes that destroys your financial future 00:00 Intro 02:34 Why Most People Overcomplicate Finance 03:37 How Your Psychology Secretly Controls Your Investments 05:06 The Real Frameworks Behind Financial Freedom 06:54 Why You Don’t Need Much Money To Start Investing 09:20 The 10 Money Mistakes That Quietly Keep You Broke 12:57 How Monetizing Your Skills Can 10x Your Income 19:46 Why Most People Never Set Financial Goals 20:50 Are You Spending Money In Ways That Actually Improve Your Life? 21:26 Why Taking Investment Risks Matters More Than You Think 25:28 Is Buying A House Actually A Smart Investment Today? 40:48 Why Common Advice About Home Ownership Falls Apart 42:17 Will House Prices Keep Rising? 44:17 How The Wealthy Legally Pay Less Tax 45:09 The Real Tax Strategies The Rich Don’t Talk About 45:45 What Happens Next To Housing Prices? 47:15 Ads 49:18 The Hidden Problems With Financial Advisors 50:21 Why Ignoring Estate Planning Can Cost Your Family Everything 51:17 Do You Really Need A Will? 51:42 How Your Partner Choice Impacts Your Financial Future 52:58 Why Some Financial Advice May Be Working Against You 54:07 Should Everyone Get A Prenup? 56:21 What Your Spending Habits Reveal About Your Future Wealth 58:04 The Real Reason Prenups Matter More Than You Think 01:00:09 Why People Underestimate Catastrophic Financial Risks 01:00:59 Stocks Vs Bonds: Which Is Actually Safer Right Now? 01:07:20 The Financial Products You Should Avoid At All Costs 01:09:23 Why Cash Loses Value Faster Than You Realize 01:10:38 Ads 01:13:33 Do You Really Need A Retirement Plan? 01:15:05 Investments You Should Avoid 01:16:44 Should You Invest In AI? 01:19:36 Crypto: Opportunity Or Risk? 01:21:25 How War Changes Investing 01:24:16 Remortgage Or Invest: Which Move Builds More Wealth? 01:25:32 Will AI Replace Your Job? Follow Ben Felix: Instagram - https://link.thediaryofaceo.com/3Mc4mML X - https://link.thediaryofaceo.com/5XwRueU YouTube - https://link.thediaryofaceo.com/5xRgQd4 Ben's Company - https://link.thediaryofaceo.com/Dd3AJr Enjoyed the episode? Share this link and earn points for every referral - redeem them for exclusive prizes: https://doac-perks.com The Diary Of A CEO: ◼️Join DOAC circle here - https://doaccircle.com/ ◼️Buy The Diary Of A CEO book here - https://smarturl.it/DOACbook ◼️The 1% Diary is back - limited time only: https://bit.ly/3YFbJbt ◼️The Diary Of A CEO Conversation Cards (Second Edition): https://g2ul0.app.link/f31dsUttKKb ◼️Get email updates - https://bit.ly/diary-of-a-ceo-yt ◼️Follow Steven - https://g2ul0.app.link/gnGqL4IsKKb Sponsors: Stan - Visit https://coach.stan.store/?ref=stevenbartlett&utm_source=youtube&utm_medium=podcast&utm_campaign=episode4 Pipedrive - https://pipedrive.com/CEO Fiverr - https://fiverr.com/diary and get 10% off your first order when you use code DIARY Wispr - Get 14 days of Wispr Flow for free at https://wisprflow.ai/steven
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First 90 secondsSteven Bartlett· Host0:00
I love when a company takes something that everyone has accepted as being fixed and completely redesigns it, which is exactly what Lufthansa, today's sponsor, has done with its Lufthansa Allegris business class cabin. It is stunning. Instead of having just one type of seat, Lufthansa Allegris business class has five completely different seats, each engineered around a specific need. So there's one built purely around privacy, another with a bed that's over seven feet long, and one designed around having even more space to work, eat, and think. You're essentially getting to choose what your journey needs to be before you even board the plane, and that level of thinking runs throughout the entire Lufthansa Allegris experience. An airline actually asking you, "What does this traveler need from their flight?" This idea that your seat should fit how you travel, not the other way around, is a surprisingly simple fix to something that the industry has never bothered to solve before. Anyway, it's called Lufthansa Allegris, and if you fly a lot, it's worth looking up. Visit lufthansa.com and search for Allegris to learn more. That's spelled A-L-L-E-G-R-I-S. Lufthansa Allegris, all it takes is a yes. Limited availability on selected routes with more routes coming soon.
Ben Felix· Guest1:15
Renting versus owning a home is the biggest financial decision most people make in their life. So we're gonna talk about all of the unrecoverable costs of owning a home, including property taxes, maintenance costs, which is the one that I think people underestimate the most, and then there's also emergency costs. I've got a whole stack of them, as