Feel behind even when you're doing everything right? Get the key takeaways from this episode, including how to tell if you're actually behind or just feel that way: https://affordanything.com/episode767

You can be ahead of where your parents were at your age and still feel broke. Jill Schlesinger explains why that feeling is so common right now, and why it's what pushes people toward long-shot bets.

Jill Schlesinger, CFP®, is the Emmy-winning business analyst for CBS News and host of CBS's new show Money Moves. Before media, she spent 14 years as co-owner and chief investment officer of an investment advisory firm.

In this episode, we discuss:

• Why you can feel behind even when you're ahead of where your parents were
• Why strong economic data still feels bad after a burst of inflation
• How social media keeps you feeling behind, even when you know it's baloney
• Why feeling stuck makes sports betting and meme stocks look reasonable
• How a financial plan turns money anxiety into specific next steps
• What to weigh before leaving a steady job for something new

If you're doing the right things and still feel behind, this episode will help you see where you actually stand before that feeling talks you into a risky bet.

🔗 RESOURCES MENTIONED

👉 Jill's website and where to send her your money questions: https://www.jillonmoney.com

👉 Watch or listen to Money Moves with Jill Schlesinger: https://www.cbsnews.com/money-moves-with-jill-schlesinger

👉 Jill's book on making a big life or career change, The Great Money Reset: https://www.jillonmoney.com/the-great-money-reset

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

👉 Which of the 5 investor levels are you? Read the key takeaways and get your one-hour action plan for leveling up here: https://affordanything.com/episode766

Most investors start out as gamblers, jumping on whatever's going up. The danger isn't starting there. It's staying there for years while studying charts and believing you've become a professional.

David Leiter started on Wall Street at Credit Suisse First Boston in the 1990s and has invested in New York City real estate since 1998. He's the author of Stop Making Stupid Investments: 7 Rules to Avoid the Hype and Build Real Wealth.

In this episode, we discuss:

• How to tell whether you're investing or just chasing price moves
• The five levels investors move through, from gambling to living off your investments
• Why steady index fund investing is a great place to land, if hot tips don't pull you away
• What changes when you start asking yourself, "Am I feeling FOMO right now?"
• Why even experienced investors slide back down when the next hot thing shows up
• Why investing rewards temperament more than intelligence
• Seven rules to check yourself against before your next investment

Wherever you'd place yourself today, this conversation shows you what keeps people stuck at the first level, and what it takes to move past it.

⏱️ TIMESTAMPS

Note: Timestamps may vary slightly depending on dynamic ad placements.

(06:12) The 10% crypto offer that went to zero

(09:14) Why most investors start out as gamblers

(21:11) When a billionaire panicked, he bought more stocks

(27:35) Why a 50% loss needs a 100% gain to recover

(35:47) Why investing rewards temperament over IQ

(38:57) Coworkers called him a slumlord. He kept buying.

(52:30) Two things to demand before any private deal

(57:10) $100,000 invested, $80 a month back

(59:18) Why a falling stock doesn't mean a failing company

(1:02:04) Why he bought for cash flow, not neighborhood hype

🔗 RESOURCES MENTIONED

👉 Stop Making Stupid Investments by David Leiter: https://a.co/d/0ekcjy0y

👉 David's website: https://www.theultimateinvestor.com

👉 David's YouTube channel: https://www.youtube.com/@theultimateinvestor

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

One major tech index lost $2.3 trillion in a single day on Thursday – the biggest one-day loss on record. The S&P 500 fell 4.4 percent, the Dow dropped more than 1,800 points and the Nasdaq slid into correction territory.

👉 Join us for what happens next: affordanything.com/newsletter

The selloff started with AI stocks after the midterm elections raised questions about data center construction.

This First Friday episode covers what happened, why it dragged down the whole market and what the latest economic numbers mean for your wallet.

We explain concentration risk and what it means for your index funds. We also talk about how long-term investors can think about short-term swings.

Next, the jobs report. The U.S. added 165,000 jobs in October, nearly three times what economists expected, and unemployment dipped to 4.1 percent. The government also revised August and September up by a combined 84,000 jobs.

We compare those numbers with private payroll data from ADP, which tells a very different story about one major sector. We also look at job openings, quits and a jump in the number of people stuck in part-time work.

The Fed held interest rates steady in October in a 10-2 vote, and both dissenters wanted a hike. We also revisit a 1986 vote that left Paul Volcker on the losing side.

Inflation keeps climbing. Consumer prices rose 3.7 percent over the past year, driven largely by gas. Wages grew 3.1 percent, so paychecks still trail prices. Social Security recipients get a 3.6 percent raise in January, though higher Medicare premiums will eat into it.

The economy grew at a 3.4 percent annual rate in the third quarter. We break down what drove that growth.

Finally, bonds. Long-term Treasury yields hit their highest level in more than two decades in early October, then fell. We explain a simple rule of thumb for where the 10-year Treasury tends to trade and what today’s rate says about investors’ inflation expectations. Mortgage rates have now dipped three weeks in a row.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.