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- Опубликовано: 12 июн 2024
- It takes only a handful of smart choices to convert regular savings into a secure future. Today we welcome famed financial educator Paul Merriman onto the show to discuss how the right habits and investing approach can add millions to your retirement nest egg. After chatting about his personal and professional background, we dive into Paul’s investing philosophy
and how it’s been influenced by the work of Eugene Fama. A significant theme in this episode, we then talk about why Vanguard’s portfolio allocation ensures that clients have the smoothest possible emotional relationship with their investments. This leads to a discussion on the benefits of simple versus complex funds and how simple funds fit with the preferences of many do-it-yourself investors. Linked to this, Paul explains why it’s emotion and not strategy that gets in the way of successful investing before exploring the challenges of sticking to portfolios that are heavily weighted in small-cap value stocks. Reflecting on his career as an advisor, we ask Paul about his difficulties in working with clients as well as the role of financial advisors. Later, Paul unpacks some of the top habits and beliefs that lead to investing success; a key focus of his new book, We’re Talking Millions. We wrap up our conversation by touching on target date glide paths, how Paul’s foundation educates investors, and the relationship between money and a life well-lived. With such an illustrious career in financial education, tune in to benefit from Paul’s investing advice.
Books From Today’s Episode:
We're Talking Millions!: 12 Simple Ways to Supercharge Your Retirement on Amazon - amzn.to/2PqbGjm
Get Smart or Get Screwed: How to Select the Best and Get the Most Out of Your Investment Advisor on Amazon - amzn.to/3sImF5X
Money and Your Brain on Amazon - amzn.to/3rHC45p
Enough: True Measures of Money, Business, and Life on Amazon - amzn.to/3sV6MJu
Links From Today’s Episode:
Paul Merriman - paulmerriman.com/
Paul Merriman on LinkedIn - / paulmerrimandotcom
Paul Merriman on Twitter - / savvyinvestorpm
The Merriman Financial Education Foundation -
Rational Reminder on iTunes - itunes.apple.com/ca/podcast/t....
Rational Reminder Website - rationalreminder.ca/
2 Funds for Life Strategy - paulmerriman.com/2-funds-for-...
The White Coat Investor - www.whitecoatinvestor.com/
The Charles Schwab Corporation - www.schwab.com/
Warren Buffett - www.forbes.com/profile/warren... 
Хобби
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I agree with what Paul said in his first sentences. "you guys are changing life's"
big thank you from Berlin
Big thanks to Ben, Cameron and Paul! You all just doing great impact on DIY investors like me! Greetings from Russia, keep up the good work :)
One of the best episodes, addressed all the key questions with a fresh perspective
I want to thank Paul Merriman for his work. I have been following Paul for over two decades, and a client for almost two decades.
Thanks! for the kind comment Bill. I hope the work of my old firm is continuing to give you peace of mind and a reasonable return. I sure wish they had told me to sell everything and buy Bitcoin a couple of years ago. Yes, I know what you are thining---There is no risk in the past. We always know what we should have done
Quite possibly the greatest interview of all time
Whoa, that was a good one.
Paul is bang-on the engineers part haha. I am an engineer and can’t stop watching all of your podcasts/videos. One of the best episodes for sure if the not absolutely best! Thank you.
Thaks for organizing great interview !
Fantastic episode! I've been wondering when you'd bring Paul Merrimiman on the show as there is so much overlap between what you all do.
My absolute favorite Rational Reminder episode!
I am still in awe after this one, Unbelievable.
What a fantastic episode, loved every minute! Certainly one of your most interesting for me. Thank you!
Amazing episode! As a long time listener I want to say that you two helped me learn so much about investing that I would have never learned without you. So he's right when he's talking about what you are doing for me and others. Thank you so much!
Brilliant - one of my favorite episodes thus far.
This is a gem of an episode! Thank you for this!
Had to come back and listen to this one after the way 2022 has been going... thanks gents
Urgent! I absolutely loved when you blurred the sharp line between your camera images. It gave a sense of you both being in the same room, proving continuity rather than division between the two of you. That blurred line is now a harsh and sharp seam that draws the eyes. Bring back the blurred seam!!!
THIS IS THE VIDEO I'VE BEEN SEARCHING FOR!
Paul is a treasure!!!! Thx
Scrooge McDuck was my hero as a child. Got me into investing
Great guest and interview! I have been following Mr Merriman's work for a while. Unfortunately, as an investor from the European Union, I can't implement some of his ideas, but I still appreciate them.
One more thing - It was great that you let him speak without interrupting him.
If you are looking for Small Cap Value ETFs according to UCITS regulation check out ZPRV and ZPRX.
Me too, listen to Sound Investing for a long time, but difficult to implement in Germany. JLCollins blog has an episode for european investors, he also is a great Vanguard fan. Same problem with fidelity funds "Our Rich Journey" recommended them due to there low (or not existing) fees. Paul talked about them too in the interview - they cost a lot more in Europe (Germany) compaired to the US - if they are offered at all...
Fantastic episode! Well done!
Fantastic episode. I make a spreadsheet to keep my behaviour out of the equation.
What a feelgood episode
Epic podcast guys!
Great guest!
Great interview. I am now implementing small cap value into my portfolio. I also read Paul Merrimans book and made a video about it on my channel to spread the message and help Czech investors. There is almost no information about this in Czech republic and banks are offering only active mutual funds. Investment industry and advice is mostly 40 years behind in my country.
Same in Romania unfortunately. I think this happens in most Eastern European countries.
FYI, on May 10 I am doing a discussion with Victor Vulpescu . If you get a chance to watch you may conclude that information would be helpful to your followers. I appreciate your commitment to helping others. Let me know how I can help.
@@paulmerriman2947 I will watch, thanks for the tip!
I can't thank you enough for this video!
I’m a huge fan of all three of you and this was an excellent episode. I appreciate the work you guys do for others, and, as an aspiring academic in philosophy and the sciences, really appreciate the way evidence-based research forms such an integral part of your advice and content.
You include clear, concise explanations and a treasure trove of citations which someone curious but new to markets and finance such as myself can use to happily jump into the deep end. Thank you.
There are a ton of names and faces out there but I think I’m zeroing in on the few whose thoughts and content I don’t want to miss, and you guys are right at the top.
Amazing
thank you for this. I look forward to all and enjoy most every one of your podcasts. This week I appreciated how straightforward and uncomplicated all three of you were. well worth my time, and i thank you for yours.
Rather confusing contradiction at 22:00: "In the international you do the small-cap blend, in the US you do the small-cap value, which works out beautifully because it's hard to get small-cap blend internationally, it's easy to get small-cap blend in the US". So which one is it? If it's easy to get small-cap blend in the US why do the small-cap value in the US? Thanks Paul Merriman for your time sharing this information, and of course thank you again Ben and Cameron for these amazing videos!
He meant small blend is easy to get internationally, but small value is easier to get in the US.
@@DocWilly77 Pretty bad mistake to make given that it's a simple 4-fund strategy! And some people may now go and buy small-cap blend in the US rather than small-cap value... which would totally blow the returns.
Lol there's 2 thumbs down. Wth
First one to like !!!!
Be very careful, he starts the episode praising Vanguard & Jack Bogle to lend him credibility. Then ends telling us Bogle just got lucky. He just wants a 1% commission to manage your $$$, but he doesn't even trust himself to manage his own $$$. Ugh...... no. Enough is enough, #'s don't lie. Do your own research.
I totally agree that one must be very careful. In fact the biggest mistake investors make is trusting the wrong source of information and advice. My personal meeting with John Bogle truly was a game changer for me. John had been an annual guest on our radio show for over a decade but I had never had the chance to meet with him personally. In that meeting he did make a valid point that our recommended Vanguard Portfolios (offered free to the public since 1995) were too complicated. Since 2017 we have worked very hard to simplify our recommendations. I'm not sure you heard the whole podcast. Yes, there was a time when my firm charged investors a percentage of their assets as a management fee. But we also made it very clear how to do it all on their own. They didn't have to pay us a cent if they would just open up an account at Vanguard and follow our Vanguard recommendations. In 2012 I sold my firm and totally retired from the investment advisory business. I was retired for about an hour and then founded our financial education foundation. Since that time I have worked virtually full time trying to help others improve their financial future. I suspect you won't believe this but I have not taken a penny in compensation for my work since 2013. My point about John Bogle's luck is an important one and he agreed. Yes, people make their luck but he had the wind at his back, as did millions of investors, from 1976 through 1999 (over 17% compound rate of return) . Since then the S&P has made almost the same as a long term government bond. As to having an advisor that's a no-brainer. I am not, and never have been, a financial planner. I am not and never have been an attorney. I know a lot about investing. There is a lot more to establishing and managing a financial plan than investing the money. In fact the investing part is very simple. I know my strengths and weaknesses and having someone else take care of the details allows me to live a more peaceful life. As I included in the title of the book that was written to support a PBS show that I was part of in 2011, it's about making more money, with less risk and more peace of mind. Having "enough" along with peace of mind is a nice combination for me. I hope you have it too.
@@paulmerriman2947 Consistency is key. 1 minute you say 1 thing, wait 30 minutes you say the exact opposite, done on numerous occasions. Conclusion........ charlatan.
Just do your own homework and research the performance #'s for yourself. Don't take anybody else's word for it, do your homework. Yahoo, Morningstar, Investopedia, all have done the crunching for you. Paul has given us some hints, now it's up to you to figure out who's right. After all, it is your $$$.
@@superslyko123 I really don't understand what your point is - give me the numbers you constantly are talking about and tell me about the contradictions Paul Merrimans does in your mind. We need arguments to learn something, not offensive opinions.
I well understood his explanation why he admires JohnBogles work and also thinks he was lucky. Same thing with Warren Buffett: great skills but he always says he also was very, very lucky - due to the time period he established his success.
What are you talking about he's a retiree who runs a non profit he doesn't want your money.