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...

Everything Fantasy Football. In this episode, Aaron teaches Trishul how to play fantasy football. They use passive investing and simple behavior heuristics as analogies for auto-drafting and setting a lineup. They discuss positional scarcity, relative value, and the diminishing marginal benefit of additional research time. But in the end, it's the context that keeps a group of friends together that is the biggest benefit of fantasy football. Amazon: All or Nothing Yahoo! Fantasy Sports ESPN...

Is ESG investing worth extra fees and opportunity cost? There may be better ways to spend your money. In this episode, Aaron and Trishul discuss Socially Responsible Investing and ESG investing. Environmental, Social, Governance investing. They discuss the theories around how and why you you would invest in companies with objectives other than pure profit maximization. Trishul argues that if there was any additional ourperformance to be had, the efficient market would already have priced...

Tax-Loss Harvesting is not free money, but it still has some long-term benefits. In this episode, Trishul and Aaron discuss all the nuances and caveats of tax-loss harvesting. It is definitely a good thing, but may be more of a tax-deferral than a genuine tax savings. Unless you can get a step-up in basis. The biggest benefit of tax-loss harvesting may come from the time value of money; the compounding growth on the money that didn't go to taxes at the beginning. MMS #79. Tax-Loss...

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

Most advice for dealing with rising interest rates doesn't work after the fact. All the advice of what to do during rising interest rates only applies if you went back in time and knew interest rates were going to rise in the future. Once they have already risen, there is not much you can do. But Aaron and Trishul discuss some of the things you could have done if you were able to predict the future. MMS #61. The market's at an all-time high (again!). CNN: How to benefit from rising interest...

Being intentional with spending and saving can reduce stress and increase happiness. If you are on track to be financially independent, when is it ok to spend more? If you are saving well and your income keeps growing, do you scale back or use your extra to move beyond basic needs? After you are earning enough to cover regular spending and saving, it becomes an intentional life decision of what you do with your extra income? Do you maintain the same expenses and pursue FIRE? Do you become a...

How the math behind Buffett's Billion applies to psychology and finance. In this episode, Aaron and Trishul look at the math behind the March Madness game Buffett's Billion and the probabilities of unlikely things happening. How does Warren Buffett put up $1 Billion for a free game? While each individual underdog is more likely to lose, if enough underdogs play, you can start to expect that at least one underdog will win. They discuss the collective psychology of looking back at unexpected...

Deflation from technology, but prices still increase. In this episode, Aaron and Trishul discuss deflation due to improvements in technology. They use computers, TVs, and cars as analogies for real estate, education, and healthcare. Even if prices of new cars aren't going down, it's the benefits and value that have driven the increases in prices. They guess how it may be possible for the cost of education to trend toward zero, while a four-year university can continue to outpace the...

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...

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...

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...

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,...

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 References MMS #6. The Difference Between Well-Being and Happiness MMS #93. How...

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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,...

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...