Shows
Personal Finance for Long-Term Investors - The Best InterestThe Only Free Lunch in Investing (Maybe) | AMA #9 - E118Jesse fields six wide-ranging listener questions that dig into the heart of financial planning and investing. He opens with a challenge to the idea that age alone dictates portfolio strategy, emphasizing instead that time horizons, goals, and diversification determine the right balance between growth and preservation. From there, Jesse advises a listener who recently inherited $1 million on how to integrate the windfall into an early retirement plan through detailed cash flow projections, withdrawal strategies, and careful consideration of pensions and Social Security. Next, he unpacks the difference between risk tolerance and risk capacity—framing them as willingness versus ability to...
2025-10-081h 26Personal Finance for Long-Term Investors - The Best InterestMilitary Money Lessons That Civilians Can’t Afford to Miss | Spencer Reese - E117Today, Jesse is joined by Spencer Reese—Air Force veteran, financial educator, and creator of the Military Money Manual—for a conversation about the surprising overlap between military transitions and civilian retirement. Together, they explore why the only constant in retirement is change, how life evolves through “go-go, slow-go, and no-go” phases, and Jesse’s framework for a “Retiree’s Financial Decathlon,” covering everything from building a sustainable paycheck to tax efficiency, healthcare, estate planning, and even learning to spend with intention. Spencer shares lessons from his own service and separation, highlighting the financial quirks of military life—like government-covered...
2025-10-011h 05
FI Minded: Achieve Financial Independence & Have Fun Doing ItIs Saving Too Much Holding You Back? | E179 Jesse CramerI’m in this strange in-between stage right now, somewhere between Coast FI and Full FI. And I often feel pulled back and forth between spender and saver, current me and future me, speeding up and slowing down. It’s a little exhausting, I have to admit.A few years ago, things felt simpler because I was in full accumulation mode. Most of my decisions came down to one thing: delay spending so I could save and invest more. Looking back, maybe I would’ve splurged a little on experiences or time-saving purchases, but honestly, I don’t regret...
2025-09-2455 minPersonal Finance for Long-Term Investors - The Best InterestManage *Yourself* More Than Your Portfolio | Hanna Horvath - E116Today, Jesse is joined by Hanna Horvath—Certified Financial Planner, managing editor at Bankrate, and author of the Your Brain on Money newsletter—for a deep dive into the psychology behind our financial decisions and why money is never just about numbers. Together, they explore how unconscious “money scripts” formed in childhood shape lifelong habits, why emotional discipline matters more than willpower, and how anxiety shows up even for people who have “won the game” financially. Hanna explains how retirement brings not just financial questions but also an identity shift, making purpose and values as important as portfolio allocation. They discuss...
2025-09-171h 08Personal Finance for Long-Term Investors - The Best InterestWhere Investors Go Wrong: Tax Traps, Math Mistakes, and Behavioral Biases - E115Today, Jesse goes solo for a candid episode unpacking the most common mistakes and misconceptions he sees in personal finance, from the temptation to “rip off the bandaid” with Roth conversions to the behavioral traps of availability bias and flawed math around investment returns. He breaks down a real listener case study to show why paying millions in unnecessary taxes up front rarely makes sense, and explains why geometric averages—not arithmetic ones—are the only way to understand long-term investment performance. Jesse also tackles the question of whether hiring a financial planner still matters in an age of index fu...
2025-09-031h 10Personal Finance for Long-Term Investors - The Best InterestThe Risks and Rewards of Quitting Your Career | Kelan Kline - E114Today, Jesse is joined by Kelan Kline, co-founder of The Savvy Couple, who shares his entrepreneurial journey from working as a jail deputy to building a successful online personal finance brand, emphasizing the importance of leveraging scalable income streams to achieve financial freedom. Kelan explains how entrepreneurship allows for more growth compared to a traditional nine-to-five by leveraging time, tools, and teams, and recounts how he and his wife carefully planned their transition by budgeting, paying off debt, and building a safety net before he quit his job. Kelan advocates starting with side hustles, particularly online opportunities like affiliate...
2025-08-201h 03Personal Finance for Long-Term Investors - The Best InterestHow to Be Smart About Inheritance Planning | AMA #8 - E113Jesse tackles six thoughtful listener questions spanning a range of personal finance topics. He begins with a question about using Social Security and pension payments as a means to replace bonds in a retirement portfolio. Why do we own bonds, anyway? Then Jesse dives into long-term care insurance, a common sticky topic for aging retirees. Do they need to earmark dollars for long-term care? Next, he covers the taxation and distributions of inheritance assets, including sub-topics like probate, beneficiaries, trusts, and general estate planning tactics. He then covers equity compensation, breaking down RSUs, ISOs, NSOs, and ESPPs, and offers...
2025-08-061h 20Personal Finance for Long-Term Investors - The Best InterestReset Your Portfolio Expectations, Before It's Too Late | Peter Lazaroff - E112Jesse welcomes back Peter Lazaroff to discuss the psychology and strategy of investing during uncertain times. They explore how media narratives and recession fears can distort investor behavior, emphasizing the importance of focusing on business earnings rather than sensational headlines. Peter shares why he separates his portfolio thinking from his balance sheet management, especially during potential economic downturns, and offers practical guidance for both pre-retirees and younger investors. The conversation also touches on international diversification, sequence of returns risk, and why consistency in strategy beats chasing performance. Plus, Peter gives an update on his podcast and his upcoming book...
2025-07-2354 minPersonal Finance for Long-Term Investors - The Best InterestWhen Smart Financial Planning Backfires - ChooseFI Companion Episode - E111Today’s episode is a special bonus episode, a companion to Jesse’s discussion on episode 555 of ChooseFI! Jesse examines the risks of over-optimization in personal finance, concentrating on tax-loss harvesting, asset allocation, Roth conversions, and dividend investing. He explains how each strategy can offer value when used thoughtfully, but warns that many DIY investors misuse them—chasing tax savings or popular tactics without considering the bigger financial picture. Jesse explains why tax loss harvesting often yields minimal or neutral benefits, how asset allocation offers modest long-term gains but can introduce liquidity and planning issues, and why Roth conversions only m...
2025-07-141h 00Personal Finance for Long-Term Investors - The Best InterestBuffett’s Blueprint - 8 Examples of Warren’s Timeless Wisdom - E110Jesse explores the timeless wisdom of Warren Buffett, highlighting both his disciplined investment philosophy and his unwavering emphasis on trust and character. Jesse breaks down Buffett’s approach to buying great businesses at fair prices, holding them long-term, and focusing on intrinsic value, margin of safety, and staying within one’s circle of competence. He also examines Buffett’s early warnings about derivatives as speculative tools that undermine market integrity, and how Buffett built Berkshire Hathaway not just through smart investing, but through a foundation of honesty, patience, and reputation. It’s a masterclass in both investing and living with pri...
2025-07-0244 minPersonal Finance for Long-Term Investors - The Best InterestScrimping, Splurging, and Other Crazy Spending Stories - E109Jesse explores the value of financial priorities and the balance between spending and saving with guests Diania Merriam, Justin Peters, Bill Yount, Jeremy Schneider, Doc G, and Joe Saul-Sehy. Diania highlights the “iceberg principle” of stealth wealth—how true wealth is often what you don’t see, like deferred purchases and unspent money. Justin shares a personal story about the cost and memories of boat ownership, emphasizing the lesson to buy utility and rent luxury. Bill discusses the different seasons of life in relation to frugality and spending, while Jeremy reflects on ingrained money habits persisting despite sudden wealth. Doc G an...
2025-06-1850 minPersonal Finance for Long-Term Investors - The Best InterestGo Roth Now Before It’s Too Late? And Other Listener Questions | AMA #7 - E108Jesse answers a range of listener questions on topics including estate planning, life insurance, financial benefits of marriage, tax strategies for high earners, healthcare in retirement, and investing during economic uncertainty. He explains that heirs to traditional IRAs must pay income tax on withdrawals, while taxable accounts benefit from a step-up in basis, and argues that whole life insurance is generally a poor investment choice for most people. He outlines how married couples enjoy more financial advantages due to shared costs, tax benefits, and retirement perks, though singles benefit from greater autonomy. A high-earning listener weighing Roth versus traditional...
2025-06-041h 22Personal Finance for Long-Term Investors - The Best Interest19 Questions to Uncover Good, Bad, and Ugly Financial Advisors | Don McDonald - E107Today, Jesse is joined by Don McDonald to offer a critical examination of the financial advising and annuity industries, warning retirees and near-retirees about misleading sales tactics that exploit fear - especially the fear of market losses. They emphasize the importance of working with fee-only, fiduciary advisors who are legally obligated to act in clients' best interests, in contrast to commission-based salespeople who often obscure fees, misrepresent guarantees, and use charm to build trust. Drawing from Jason Zweig’s “19 Questions to Ask Your Financial Advisor,” Jesse highlights key criteria for evaluating advisors, including transparency, credentials, investment philosophy, and service scope...
2025-05-2159 minPersonal Finance for Long-Term Investors - The Best InterestRetirees’ Mistakes and Wake-Up Calls: Expectations vs. Reality - E106Jesse explores insights from the Retirements and Perspectives study, which captures the experiences and expectations of individuals transitioning into retirement, especially those aged 50 to 75. With half of the participants recently retired and the other half preparing to retire within two years, the study offers a timely look at the "final glide path" into retirement and the early years that follow. Authored by retirement experts Fritz Gilbert and Eric Weigel, the report dives into preparedness, lifestyle satisfaction, and evolving concerns. It reveals a common disconnect between what pre-retirees expect and what retirees actually experience—particularly around health, identity, and social en...
2025-05-0728 minPersonal Finance for Long-Term Investors - The Best InterestIt’s Not Too Late: Smart Money Moves After 50 | Bill Yount - E105Jesse explores the financial journey of late starters with guest Bill Yount, co-host of Catching Up to FI. In the opening monologue, Jesse shares his “Stupidly Simple Secret Sauce” for personal finance: spend less than you earn, grow income without inflating lifestyle, invest consistently, and prioritize savings. He warns against flashy success stories, consumer culture, and speculation, instead advocating for steady, index-fund investing and disciplined budgeting. The episode also addresses market volatility and debunks the “buy the dip” strategy, showing that long-term consistency outperforms timing attempts. Bill shares his compelling story of waking up to his finances at age 50, shifting...
2025-04-2358 minPersonal Finance for Long-Term Investors - The Best InterestTariffs, Turbulence, and the Harsh Truths We Must Now Face - Bonus EpisodeToday, Jesse critiques emotional, reactive investing during volatile market conditions—especially in response to tariffs and recession fears—while promoting disciplined, evidence-based strategies. Tariffs, though intended to protect domestic industries, often raise prices and stoke inflation, ultimately harming consumers, businesses, and investor sentiment, with economists warning they may slow growth or trigger stagflation. Market reactions, such as those seen during the Trump-era tariffs, highlight investor uncertainty and the self-inflicted nature of such economic disruptions. Jesse offers 15 introspective questions to help investors stay grounded, assess their emotional triggers, and focus on long-term goals rather than panic-driven moves like tax-loss harvesting or "...
2025-04-1444 minPersonal Finance for Long-Term Investors - The Best Interest"Tax-Free Retirement" - Smart Strategy or Overhyped Gimmick? And Other Listener Questions | AMA #6 - E104Jesse answers listener questions on financial planning, investment management, and retirement. He discusses the challenges of rising homeowner’s insurance costs in high-risk areas, the differences between Treasuries, CDs, and high-yield savings accounts, and the inefficiencies of using life insurance for tax-free retirement. He advises Casey, a future retiree, on tax-efficient withdrawal strategies and investment choices, and guides Chris, a federal worker, on pension decisions, TSP management, and career changes. Jesse also addresses Rachel’s concerns about bond funds versus individual bonds, explaining their similarities and recommending a goals-based portfolio approach with cash reserves and an appropriate bond allocation for...
2025-04-0957 minPersonal Finance for Long-Term Investors - The Best InterestLife Expectancy, Caregiving Costs, & Retirement Planning | Christine Benz - E103Jesse Cramer speaks with Christine Benz, Director of Personal Finance at Morningstar, about insights from her book How to Retire. Before their discussion, Jesse contrasts gambling with long-term investing, emphasizing the risks of short-term market bets versus the reliability of patient investing. Christine highlights the shift in financial advice toward holistic retirement planning, including the importance of low-cost, diversified portfolios and planning for life transitions. The episode also explores the financial impact of caregiving, particularly on women, and the necessity of proactive retirement savings and long-term care planning. John Guyton’s "guardrails approach" is discussed as a strategy for ad...
2025-03-2652 minPersonal Finance for Long-Term Investors - The Best InterestThe Truth About the U.S. National Debt (And How It Impacts You Personally) - E102Today we take a look at the U.S. national debt, distinguishing it from household debt and analyzing its impact on individuals and investors. Jesse traces the debt’s history and explains its structure, funding through Treasury bonds, and refinancing process. The discussion covers Modern Monetary Theory (MMT), which suggests that as a currency issuer, the U.S. cannot default but must manage inflation through taxation—though critics question the feasibility of this approach. While deficit spending can drive economic growth, excessive money printing may erode investor confidence. Interest rates play a crucial role in borrowing, investment, and market stab...
2025-03-1241 minPersonal Finance for Long-Term Investors - The Best InterestDo Long-Term Investors *Need* to Invest in Real Estate? | Chad “Coach” Carson - E101Jesse is joined by Chad Carson, who discusses residential real estate investing as a stable alternative to stocks and bonds. While real estate offers advantages like rental income, property appreciation, and tax benefits, Jesse also highlights challenges such as high costs, tenant issues, liquidity problems, and the time commitment required. Jesse thinks of his Rochester wealth management clients, and what some of them do. Chad emphasizes choosing the right location, focusing on properties with minimal renovation needs, and securing financing that ensures a healthy cash flow. He advises new investors to avoid risky locations and avoid over-leveraging, r...
2025-02-2653 minPersonal Finance for Long-Term Investors - The Best InterestFavorite Moments, Shoutouts, and a Name Change?! …From Our First 100 Episodes - E100Episode 100 of The Best Interest Podcast! This is a celebratory and reflective milestone featuring guest shout-outs, listener-favorite clips, and a discussion on the show's evolution. Jesse shares the podcast's origins, his journey from aerospace engineering to financial planning, and how the podcast nearly faded before finding renewed purpose in 2023. Throughout the episode, Joe Saul Sehy, Brian Feroldi, Paula Pant and other past guests are featured, shouting out The Best Interest and their own work, you’ll certainly want to check out. To celebrate, listeners wrote in with some of their favorite clips, including Jeremy Schneider’s discussion with...
2025-02-121h 07Personal Finance for Long-Term Investors - The Best InterestWill They Claw Back My Tax Breaks? Should I “Buy, Borrow, and Die?” And More - AMA #5 - E99Time for another AMA with Jesse! First, Randy asks what it means to be rich, leading to an interesting evaluation of personal values, goals, and circumstances. Jesse explores relativity, “keeping up with the Joneses”, and what it means to have “enough”. Then, Bob asks about the potential tax burdens on beneficiaries and heirs, and Tom wonders whether some tax savings are worth the effort of logistical complexity. The fourth question comes from regular listener, Yogi, asking about the role of bonds in diversifying a portfolio. Jesse gets into the details of which bonds are which, which financial goals they’re good fo...
2025-01-2943 minPersonal Finance for Long-Term Investors - The Best InterestWhat Do You Mean By “little p purpose”?! | Jordan Grumet - E98Jordan Grumet, AKA Doc G, returns to the podcast to share the difference between “Big P Purpose” and “little p purpose” and why you should pursue the seemingly less significant latter. Bringing together his experience in hospice care and finance, Jordan shines light on how we can create our purpose through personal growth and the pursuit of passions, rather than grandiose goals. Jordan calls these activities that bring joy "purpose anchors," which can be discovered through reflection and exploration. By engaging in these meaningful pursuits, individuals create positive ripple effects, fostering generational growth and leaving lasting legacies. This reframing of purpo...
2025-01-1539 minPersonal Finance for Long-Term Investors - The Best InterestThe Bad “Money Scripts” Someone Else Wrote for You | Brad Klontz - E97Jesse kicks today’s show off with a monologue on the importance of having the right temperament for investing - it’s not really about intelligence at all. Emotional stability and disciplined decision making outweigh expertise and intelligence when investing. The Dunning-Kruger effect and the paradox of choice are also highlighted, emphasizing the need to prioritize action over perfection in personal finance. For the second half of the show, Dr. Brad Klontz, Co-Founder of the Financial Psychology Institute and author of Start Thinking Rich, joins to discuss “money scripts”, which are subconscious beliefs about money inherited from previous...
2025-01-0152 minPersonal Finance for Long-Term Investors - The Best InterestBut is NOW the Right Time to Invest in the Stock Market?! - E96Talking solo, Jesse tackles two important, ever-present investing questions in today’s monologue. Should I try to time the market? How do I beat the market? The truth is, the timeless advice stands: diversify your portfolio, steer clear of speculation, and invest early and often. Diversifying is like buying the haystack, rather than looking for the needle, because, the truth is, you probably won’t find the needle. Speculative stock-picking is like picking out some straw and hoping it’ll turn out to be the needle. To illustrate the benefits of consistent investing - rath...
2024-12-1855 minPersonal Finance for Long-Term Investors - The Best InterestTax Loss Harvesting Myths Debunked: What You Need to Know Now | AMA #4 with Jesse - E95Jesse is solo, answering your questions! Kate, a government worker with $650,000 in IRAs, is wondering how she can best rebalance her portfolio - and when. Dan seeks clarity on bonds' role despite recent poor returns, learning they offer portfolio stability and mitigate market volatility, critical for risk-averse investors. Peter asks about Social Security timing, highlighting the trade-off between early claiming's investment growth potential versus the guaranteed, low risk returns of delayed benefits, with traditional advice favoring security. Lucas, a young investor with a taxable brokerage account, asks about key considerations to include when setting up a dividend reinvestment plan...
2024-12-0459 minPersonal Finance for Long-Term Investors - The Best InterestSilly Hacks, New Rules, & Unpopular Opinions - E94Jesse’s running the show solo this week, bringing with him some interesting perspectives on tax tricks, whether you should rent or buy, and college education. In this episode, you’ll hear why side hustles might just be a waste of time, what makes detailed budgeting overrated, and how you’re actually spoiled just by having a queen sized bed! This episode is great if you’re looking for a few reminders, grounding advice, or a few different opinions. Key Takeaways: • Reasons why you shouldn’t rely solely on your stocks for your early retirement. • The 50% Rule f...
2024-11-2047 minPersonal Finance for Long-Term Investors - The Best InterestInstructive and Surprising Questions to Ask Before You Retire | Joe Saul-Sehy - E93What are the long-term gains of educated investment decisions? The COVID pandemic triggered fear and uncertainty, with many wanting to sell everything amid the stock market's 30% drop. However, disciplined investors maintained their perspective and followed their investment policy. This approach, coupled with proper financial planning, often results in a stronger portfolio after market crashes, helping investors avoid costly mistakes. In contrast, a friend who sold his business for $10 million was initially hesitant to invest in the stock market due to a lack of education, but with advice to seek higher yields and follow a well-planned asset allocation strategy, he...
2024-11-061h 11Personal Finance for Long-Term Investors - The Best InterestWhy Teachers Need to Be Careful | Dan Otter - E92Jesse opens the show by sharing a personal anecdote about a former teacher's challenging investment choices, which were burdened with high fees from their financial advisor. He emphasizes the predatory nature of the financial advice teachers receive, encouraging teachers to seek better investment options from reputable firms like Vanguard and Fidelity. Finally, Jesse underscores the importance of being informed against the systemic issues in the retirement planning landscape for educators. Dan Otter joins for the second half of the show. Dan is the co-founder of 403(b)Wise, which aims to make information about the 403(b) readily available...
2024-10-2346 minPersonal Finance for Long-Term Investors - The Best InterestWhat No One Tells You About Early Retirement | Steve Adcock - E91Today, Jesse helps us step out of our financial frame and see the broader context of our lives. Quoting from David Foster Wallace’s “This is Water” speech, he highlights our self-centered bias and makes suggestions on how we can gain greater perspective through the support of those around us. In his monologue, Jesse also notes Charlie Munger’s belief that the world isn’t driven by greed, but rather by envy, and that often our reality seems a certain way because of what we see around us. Steve Adcock joins the conversation to share his own perspectiv...
2024-10-0953 minPersonal Finance for Long-Term Investors - The Best InterestNo Diversification = Deep Trouble?! | AMA #3 with Jesse - E90Back with another AMA, Jesse tackles your questions on employee stock incentives, diversification, how taxes affect investments, and more! Our first question comes from Lynn, who asks about when to take Social Security, which opens up a broader discussion on optimal timing for retirement benefits. While she and her husband initially planned to wait until age 70 to maximize benefits, based on family longevity, Lynn’s making some reconsiderations. Key considerations for anyone approaching Social Security include health, family history, need for benefits, ongoing work plans, spousal benefits, and how Social Security fits into their broader financial plan. ...
2024-09-2554 minPersonal Finance for Long-Term Investors - The Best InterestSocietal Challenges and the “Money World” Don't Always Mix | Katie Gatti Tassin - E89Jesse explores the intricacies of student loan forgiveness, highlighting the fallacy that loans can simply vanish without consequence. He argues that the financial burden ultimately falls on taxpayers and critiques the notion that the U.S. government can "magically" eliminate student debt. Jesse explains the Public Service Loan Forgiveness (PSLF) program and how student debt exacerbates mental health problems. He proposes a balanced approach of partial interest forgiveness to alleviate borrower burdens, shorten repayment periods, and benefit both individuals and the government, all while maintaining personal accountability. Today’s guest, Katie Gatti Tassin, is the founder of Mo...
2024-09-111h 12Personal Finance for Long-Term Investors - The Best InterestPractical Reasons Why "Retirement Success" Can Still Be Painful | Rob Berger - E88Referring back to his article, Fundamentals Of Retirement: Is the Summit “Good Enough?”, Jesse uses an experience hiking in the Adirondack Mountains as a metaphor to explore retirement preparedness. He recounts how being poorly equipped for a challenging hike can mirror the pitfalls of entering retirement without thorough planning - you might reach the summit, but the journey and destination may not be as enjoyable. Sharing the example of a couple, John and Eva, who are on the brink of retirement with substantial assets and a solid financial plan, Jesse raises critical questions about their investment strategy, withdrawal plans, and t...
2024-08-2843 minPersonal Finance for Long-Term Investors - The Best InterestHow To Secure an Edge Against “Sequence of Returns” Risk | Tyler of Portfolio Charts - E87In today’s opening monologue, Jesse explores the concept of Sequence of Returns Risk, a crucial and often misunderstood threat to retirees, by illustrating how poor returns early in a retirement can severely impact long-term stability. He emphasizes the importance of diversification. Jesse then introduces the idea of path dependence, drawing parallels to the life of author Philip K. Dick, whose posthumous fame underscores the significance of a journey’s path, not just the journey’s outcome. Jesse connects this to investing, explaining how the sequence of returns can greatly affect an investor’s experience, despite the long-term average returns...
2024-08-1452 minPersonal Finance for Long-Term Investors - The Best InterestShould I Drain My 401k to Pay Off My Mortgage? | AMA #2 with Jesse - E86In today’s AMA, Jesse delves into various financial dilemmas and strategies to maximize benefits and secure a stable retirement. The first question comes from Mindy, a 50-year-old widow, weighing the pros and cons of remarrying due to its potential impact on her survivor benefits. Jesse explains the complexities of Social Security spousal and survivor benefits, urging listeners to consult with a Certified Financial Planner to navigate the intricacies and optimize their benefits. Then, Bob seeks Jesse’s advice on whether to use retirement savings to pay off a mortgage on a new home. With $1.2 mill...
2024-07-3148 minPersonal Finance for Long-Term Investors - The Best InterestRed Flag Finance Scams on the Big, Scary Internet | Rachael Camp - E85Jesse starts by sharing two of his blog posts in today’s monologue. The first post, “The Answers are Here, But…”, expands on William Gibson’s quote, “The future is already here. It’s just not evenly distributed, yet.” Jesse draws a connection between Gibson’s quote and the distribution of financial literacy, explaining that The Best Interest is part of the distribution effort. Of course, there are those who distribute bad, or even dangerous information, leading into the second half of the monologue, “How to Avoid Frauds and Ponzi Schemes”. Jesse offers 3 ways we can avoid being taken for a ride...
2024-07-171h 03Personal Finance for Long-Term Investors - The Best InterestHow New Parents Can Avoid Money Mistakes | Andy Hill - E84Jesse begins today's episode with two reflections. First, he talks about the rarity and preciousness of gathering all your loved ones in one place. While money is important, it is ultimately a means to gain the freedom to spend time with those you care about. In his second reflection, Jesse recounts the story of his parents' neighbors' house catching fire, highlighting the importance of risk management and preparedness, such as having smoke detectors and emergency plans. This underscores the idea of using money wisely to enhance life’s quality and maximize meaningful experiences with loved ones. Today's gu...
2024-07-0353 minPersonal Finance for Long-Term Investors - The Best InterestFight, Flight, and Friction: Being Smart in Your Volatile Portfolio | Carl Richards - E83Jesse starts this episode with a confession: money still stresses him out. The four ways that Jesse reduces this stress are remembering what’s going right financially, prioritizing spending, working hard, and remembering that others have walked this path. Then, with another call back to his blog, Jesse invokes Marshall McLuhan’s quote “the medium is the message” when sharing from his post, “The Friction is the Message”. Today’s guest is Carl Richards, the creator of the Behavior Gap, author of The Behavior Gap: Simple Ways to Stop Doing Dumb Things with Money...
2024-06-1955 minPersonal Finance for Long-Term Investors - The Best Interest“Truth: We Are Very Bad At Anticipating What We Want” | Jonathan Clements - E82Jesse begins today’s episode with a short monologue on the highs and lows of money. Can money buy happiness? Or are they uncorrelated? Either way, money can certainly buy flexibility and optionality. Jesse collects insights from Thom Yorke, Matthew Killingsworth, Danny Kahneman, and Angus Deaton. Today’s guest is Jonathan Clements, the founder and editor of Humble Dollar, the author of My Money Journey and How to Think About Money. Clements spent nearly 20 years at the Wall Street Journal as their lead personal finance columnist. He shares why we need financial goals that fulfill us, w...
2024-06-0547 minPersonal Finance for Long-Term Investors - The Best Interest"Is My 100% S&P 500 Portfolio Wrong?" | AMA #1 with Jesse - E81On today’s episode, we bring you something a little different. Jesse’s collected a series of questions from newsletter subscribers and will answer them in today’s AMA (Ask Me Anything). Jesse answers into which accounts young people should be putting their money. Other questions answered are: Is getting to your “Coast FI” a good idea? How to balance which accounts you’re putting money into and how your goals might change that. How can you financially prepare for parenthood? Why you should diversify your investments, even if your lack of diversification is working for you. What are “Roth Conversio...
2024-05-2237 min
FI Minded: Achieve Financial Independence & Have Fun Doing ItDoes My FIRE Number Account for Inflation? | E140 Jesse CramerI love playing with compound interest calculators and one equation I’m routinely calculating is the number of years until I reach financial independence. Using the 4% rule, I multiply my living expenses by 25 to get my FIRE number. I use that, my current net worth and various contribution rates to predict when I’ll reach FI.But then I started thinking about this equation. Instead of using my current expenses should I use an inflation-adjusted number that would more realistically match my future expenses? Also, now I’m second-guessing my average return rate. Does that include inflation or sho...
2024-05-0855 minPersonal Finance for Long-Term Investors - The Best InterestBeware! Don’t Fall Into “The College Money Pit Trap!” | Evan Giokas - E80Jesse starts this episode discussing his “50/50 rule” of college savings. Jesse also talks about 529-to-Roth conversions (why they’re overrated!), the FAFSA, and other financial tools at our disposal for college planning. Evan Giokas then joins the show to dive deeper into a college admissions conversation. Evan is the founder of The College Confidence Coach, which helps students through their higher educational journey. Evan covers what a “conative assessment” is, how to be cost-conscious when preparing for college, how to start college conversations with your child, and the importance of showing your values to college admissions st...
2024-05-081h 11Personal Finance for Long-Term Investors - The Best InterestHealth = Money = Time | Phil Pearlman - E79In episode 79 of The Best Interest Podcast, host Jesse Cramer discusses the intricate relationships between health, wealth, and time with guest Phil Pearlman. Jesse starts with his usual monologue, explaining and establishing that health, money, and time are all interchangeable resources that many people trade-off throughout their lives. Jesse and Phil then delve into how health decisions significantly impact financial standing and overall quality of life, emphasizing the importance of viewing health as an investment in one's future. Phil, transitioning from a finance profession to focusing on personal health, shares his insights on behavioral finance, the importance of making...
2024-04-2450 minPersonal Finance for Long-Term Investors - The Best InterestAn Informative Debate: The Most Important Rules of Personal Finance | Justin Peters - E78Jesse starts this episode with an engaging monologue: how exactly does The Best Interest generate revenue? Jesse answers this question and asks YOU for your help in ensuring The Best Interest continues as a terrific free financial resource. And then Justin Peters joins for the second half of the episode. Justin hosts The Struggle is Real, a podcast about adulting through your twenties. He’s also a co-founder of SimplePod Studios, which produces The Best Interest Podcast. In this episode, Justin and Jesse discuss, compare, and contrast their top five “Golden Rules” of personal finance. If you’r...
2024-04-101h 12
Personal Finance for Long-Term Investors - The Best InterestA Market Crash is Coming! (…Eventually) | Peter Lazaroff - E77Peter Lazaroff is the host of The Long Term Investor podcast and serves as the Chief Investment Officer at PlanCorp, a registered investment advisory in St. Louis. On today’s show, Jesse and Peter talk about the cognitive challenge of investing at all-time highs. It’s normal to feel like a crash might be coming; but it always feels that way, and you shouldn’t be worried about it. If you’re a long-term stock market investor and want to think a little more rationally or learn, this is the episode for you! Key Takeaways: W...
2024-03-2756 min
Personal Finance for Long-Term Investors - The Best InterestDon’t Make Your Own Pizza?! | Jared Dillian - E76Jared Dillian is a former Wall Street trader at Lehman Brothers, an author of 4 books, and daily writer a newsletter for financial professionals called The Daily Dirtnap. He’s sharp, witty, and brings great energy to today’s conversation. In this episode of The Best Interest Podcast, we learn about "The Allegory of the Sandwich" and how you can pay for the small stuff by thinking carefully about the big stuff! If you’re looking to hear unique takes on the FIRE movement and your daily latte, this is the episode for you! Key Takeaways:
2024-03-1353 min
Personal Finance for Long-Term Investors - The Best InterestGrowth Mindsets to Afford Anything | Paula Pant - E75Paula Pant writes, podcasts, and speaks on financial independence, money management, and financial literacy. As the host of the Afford Anything Podcast, Paula has racked up more than 30 million downloads, ranking the show among the Top 50 Business Podcasts on Apple Podcasts. In this episode we learn how Paula realized she could travel the world on a limited income and eventually go on to financial independence through Afford Anything. If you’re looking for some growth mindset inspiration that will help you broaden your perspective, this is the episode for you! Key Takeaways: - How...
2024-02-2852 min
Personal Finance for Long-Term Investors - The Best InterestPicking Stocks - Does It Ever Work?! | Brian Feroldi - E74Brian Feroldi is a prolific creator in the financial education space, having written over 3000 articles for the Motley Fool, published a book, “Why Does The Stock Market Go Up?”, and actively posting to his YouTube Channel. In this episode, Brian breaks down his checklist for what makes a company worth investing in and provides some insight into what we should do before we jump into investing. If you’re interested in personal investing and some great guidelines to go along with it, this is the episode to listen to. Key Takeaways: What is the ind...
2024-02-1457 min
Personal Finance for Long-Term Investors - The Best InterestPeople Need Informative Straight-Talk About Money (And Jokes, Too) | Joe Saul-Sehy - E73Joe Saul-Sehy is one of the hosts of Stacking Benjamins, which is one of the most listened-to podcasts in the personal finance space. In this episode, we discuss how to find a good financial advisor, how to chase time (not money), and even how to decide what your top priority is in life. If you’re looking for an educational listen with plenty of laughs along the way, then this is the episode for you! Key Takeaways: What you need to ask any financial advisor you’re considering working with. How Joe us...
2024-01-311h 04
Investing To WinJesse Cramer | Engineering Wealth: A Rocket Scientist's Journey to Mastering FinancePodcast Episode Title:"Engineering Wealth: A Rocket Scientist's Journey to Mastering Finance"Summary:In this episode, host Garret Wong interviews Jesse Kramer, a financial planner and the creator of The Best Interest blog and podcast. They discuss the importance of financial reviews, analyzing spending habits, maximizing savings, investment allocation and rebalancing, insurance and estate planning, and setting financial goals. In this conversation, Jesse and Garret discuss various aspects of personal finance and financial planning. They cover topics such as organizing important documents, the importance of having a will, healthcare proxy, and power of...
2024-01-3057 min
Personal Finance for Long-Term Investors - The Best InterestWhen Scary Career Risks Get Remarkable Results | Doug Cunnington - E72Today’s show features Doug Cunnington, one of the hosts of the financial independence podcast Mile High FI. Doug highlights how he took conservative risks along the way to FI, and walks us through his career journey to financial independence. We discuss misconceptions about the FIRE movement, how to prepare for financial emergencies, and why it’s never too late to start your own journey to financial goodness. This episode is a must listen! Key Takeaways: What is risk, really? And how can you live with it? How to estimate risk in in...
2024-01-171h 04
Personal Finance for Long-Term Investors - The Best InterestThe Unspoken Strain of F.I. | Diania Merriam - E71Diania Merriam is the founder of the EconoMe Conference, an exclusive gathering for the FIRE community (financial independence, retire early). Inspired by FIRE, Diania hit an impressive 60% savings rate and retired at 33. Of course, in retirement, you’ve got to stay active; what’s the point of financial freedom if you’ve got nothing to do? Diania joins Jesse today to discuss CoastFI, SlowFI, and the need to enjoy the journey. If you’re saving for retirement, but aren’t sure what to do with that retirement, this episode is for you! Key Takeaways: What ins...
2024-01-0354 min
Personal Finance for Long-Term Investors - The Best InterestThe 7 Sins of Investing | Jeremy Schneider aka Personal Finance Club - E70Jeremy is the voice behind Personal Finance Club, a community of champions of the individual investor dedicated to bringing accessible financial education to all. The Personal Finance Club believes financial education improves lives and it should be taught in school. You might have seen Jeremy and Personal Finance Club on Instagram where he posts eye catching financial graphics to almost 600, 000 followers. In this episode Jesse and Jeremy discuss the 7 Sins of Investing. These simple lessons will give you valuable insight into some habits to avoid, skills to develop, and knowledge to gain for your financial w...
2023-12-201h 02
Personal Finance for Long-Term Investors - The Best Interest529 Plans Aren’t Worth It?! (And Other Important Tax Thoughts) | Sean Mullaney aka The FI Tax Guy - E69Sean Mullaney is the FI Tax Guy (FI = Financial Independence). He’s a financial planner and the president of Mullaney Financial and Tax Incorporated which offers fiduciary, fee-only, and advice-only financial planning. In this episode, Jesse dives deep on capital gains taxes, while Sean and Jesse dissect the Roth vs. Traditional debate, the efficacy of 529 Plans, and how to think about changes to the tax code coming in 2026. Key Takeaways: What are capital gains? How to calculate capital gains, and the taxes on them. The NII tax explained. 10...
2023-12-0655 min
Personal Finance for Long-Term Investors - The Best InterestMinimalism: How Much is Enough? | Rose Lounsbury - E68Rose Lounsbury is a keynote speaker, an Amazon bestselling author, simplicity coach and the still-sane mom of triplets. She helps overwhelmed people create open spaces in their homes, their workspaces, and more importantly in their minds by letting go of the excess stuff that gets in the way. In today’s episode, Rose teaches us why towels are a great place to start when we’re looking to simplify our lives. What do we do about gifts? Hobbies? Or everything that occupies our space, energy, or time? These questions (and more) are answered in this conve...
2023-11-2248 min
Personal Finance for Long-Term Investors - The Best InterestThe Mindset of a Millionaire Next Door | Andrew Giancola - E67Today, Jesse shares some financial lessons from humble beginnings. There’s much to learn from his first entrepreneurial endeavor: a baseball concession stand. Then, Andrew Giancola joins the pod to share his “Hero’s Journey,” from a bottom point where he found himself unable to afford a fill-up of gasoline. Andrew has thoughts about peoples’ biggest problem with money, about opportunity costs we all face, and whether you should rent or buy your next home. Thanks for joining us today on The Best Interest. Key Takeaways and Timestamps: (0:00:44) - Jesse shares a story from his ea...
2023-11-0838 min
Personal Finance for Long-Term Investors - The Best InterestMarriage, Kids and Money | Andy Hill - E66In the day-to-day hustle of parenting, thinking long-term, especially regarding finances, is often challenging. With studies showing an estimated cost of over $300,000 to raise a child from birth to age 18 (excluding college expenses), addressing your monetary matters becomes utterly crucial before you embark on parenting. Today, Jesse sits down with Andy Hill to discuss combining finances with a spouse, preparing financially for a family, and setting your children up with the right money habits and mindset. Key Takeaways: The cost of raising a child - childcare, medical, baby supplies, and other miscellaneous expenses
2023-10-2551 min
Optimal Finance Daily - Financial Independence and Money AdviceShould You Invest Your Emergency Fund? by Jesse Cramer of Best Interest on Calculating How Much to Save For an EmergencyJesse Cramer talks about if you should invest in your emergency fundEpisode 2487: Should You Invest Your Emergency Fund? by Jesse Cramer of Best Interest on Calculating How Much to Save For an EmergencyJesse started The Best Interest in 2018. He was a mechanical engineer by day, working on satellite telescopes. But his passion was to help people improve their personal finances. He began writing to "learn in public," to help people, and to add genuine signal to an otherwise noisy Internet. Fast forward to now. So much has changed. -T...
2023-10-1910 min
Personal Finance for Long-Term Investors - The Best InterestCredit Card and Parenting Hacks | All the Hacks - E65Do you see yourself dying on top of a pile of gold like Scrooge McDuck? Today’s guest, Chris Hutchins, shares his story of how he balances hacking his life: credit cards, chores, out of the box thinking, you name it, with keeping his end goals in mind. But, first, Jesse recounts his travels. He may have learned a lesson or two from the busy street traffic in Vietnam vs the quaint pubs of Ireland. Key Takeaways: Why creating success is more about buy-in than perfection Taking life a beat slower...
2023-10-1159 min
Personal Finance for Long-Term Investors - The Best InterestA Guide for the DIY Investor | Measure Twice Money - E64Nonillion… That’s a number so big, I hadn’t heard it before recording this episode. Should you budget and track every single dollar you spend? Should you put 10 percent of your income into your 401k? These are just two of the typical questions I get asked when it comes to money management. In fact, when you think about the hundreds of decisions the average person is faced with in their financial journey, you end up with a nonillion different possible outcomes. This week I brought on Cody Garrett to make these decisions a little clearer...
2023-09-2753 min
Personal Finance for Long-Term Investors - The Best InterestSaving Less to Live More. Should You Do the Same? | Carl Jensen aka Mr. 1500 - E63How do you know when you are taking the right financial road? Should you prioritize saving money to be better off in the future? Or is it more beneficial to ensure you are using money as a resource for happiness in the present? Our guest today, Carl Jensen, has chosen the first option for the majority of his life, using money not as a resource for happiness, but one to defend against hardships. Recently, however, Carl has begun to take this road less traveled to optimize experiences while investing in his happiness. In this episode, we discuss how the...
2023-09-131h 06
FI Minded: Achieve Financial Independence & Have Fun Doing ItHow to Ask for a Raise (and Actually Get It) | E114 Jesse CramerI don’t want to steal Jesse’s thunder so I won’t tell his specific example that he shares, but negotiating a raise early in your career can lead to a 6-figure increase in your lifetime earnings. And that is just one negotiation. By developing your negotiation skills and making a habit of consistently asking for a raise throughout your career, you’re bound to outearn a peer who starts at a similar salary by a long shot.But on the flip side, asking for a raise is intimidating. The fear of rejection is real and rejectio...
2023-09-0447 min
Personal Finance for Long-Term Investors - The Best InterestThe Reality of Retirement Beyond the Numbers | The Retirement Manifesto - E62Today on the podcast, we have a fascinating guest. He's a gentleman by the name of Fritz Gilbert. He runs a blog called The Retirement Manifesto. As you might guess from the name of Fritz's blog, it's all about retirement. Now, yes, Fritz covers the nuts and bolts, the numbers of retirement, but we talk even more regarding the softer side of retirement, the things that retirees ought to be thinking about when it comes to just day-to-day life that they probably aren't thinking about. If you're younger like me, this might not quite apply to you yet, but...
2023-08-3053 minOptimal Finance Daily - Financial Independence and Money AdviceAre My Investments Good? by Jesse Cramer of Best Interest on Making Investment DecisionsJesse Cramer talks about how to know if your investments are goodEpisode 2429: Are My Investments Good? by Jesse Cramer of Best Interest on Making Investment DecisionsJesse started The Best Interest in 2018. He was a mechanical engineer by day, working on satellite telescopes. But his passion was to help people improve their personal finances. He began writing to "learn in public," to help people, and to add genuine signal to an otherwise noisy Internet. Fast forward to now. So much has changed. -The Best Interest was nominated for 2022 "Pers...
2023-08-2910 min
Personal Finance for Long-Term Investors - The Best InterestAre You Living a Regret Free Life? | Jordan Grumet aka Doc G - E61What exactly does it mean to live a regret free life? Our guest today, Jordan Grumet aka Doc G, shares the observations he’s made as a hospice doctor. We get into a discussion about how money is a mirage. Many people view it as this big important thing, but in reality it’s just a construct. It helps us achieve other things, and it's those other things which are truly important, not the money itself. It can be easy to forget money is just one of many tools at your disposal in building a happy life. So, today we e...
2023-08-1754 min
Personal Finance for Long-Term Investors - The Best InterestAre You Saving Too Much? | with Nick Maggiulli - E60Today, I’m going to share the five false proxies leading people astray in their financial goals. In fact, what if I told you a recent study revealed your $1 million investment principal was more likely to quadruple than remain flat even after decades of enjoying a 4% withdrawal rate? Would you rethink your saving strategy? Would you consider passing along some of your inheritance sooner in life? With that said, how do we come close to dying with zero? Our guest today has plenty of thoughts on bolstering the longevity of our finances, and surprisingly, his number one tip has no...
2023-08-0252 min
Personal Finance for Long-Term Investors - The Best InterestThink and Grow Rich…Really?! | How to Money and 5AM Joel - E59What kind of mood would you find yourself in if a tree fell onto your house? Would it ruin your day? Our guests might have something to say about that… Joining me today are two of the most outrageously optimistic, enthusiastic experts in personal finance, Joel O'Leary and Joel Laarsgard. I’ll often have clients come in and say, “Jesse, we really want to approach things conservatively. I mean after all, you’ve seen the news, right? We know we’re heading into a recession.” And on one hand, of course, we want to be...
2023-07-1955 min
Personal Finance for Long-Term Investors - The Best InterestWhy Inaction is an Investor's Best Friend - E58Today’s episode starts in Minnesota, during an experiment where young men were intentionally starved. They knew starvation would affect their body, but were shocked by how it affected their brains. We then travel to Johnsonburg, a small town in Pennsylvania, where an unexpected event involving deer and a newly constructed bridge made headlines. Did you know that mammal brains, including ours, share a common trait? It's called the amygdala, a remarkable part of our brain responsible for our fight or flight response. Just like the deer that instinctively jumped off the highway bypass, we too...
2023-07-0530 minOptimal Finance Daily - Financial Independence and Money AdviceTwo Roads To Financial Independence by Jesse Cramer of Best Interest Blog on Achieving Financial IndependenceJesse Cramer shares the two roads to financial independenceEpisode 2360: Two Roads To Financial Independence by Jesse Cramer of Best Interest Blog on Achieving Financial IndependenceJesse started The Best Interest in 2018. He was a mechanical engineer by day, working on satellite telescopes. But his passion was to help people improve their personal finances. He began writing to "learn in public," to help people, and to add genuine signal to an otherwise noisy Internet. Fast forward to now. So much has changed. -The Best Interest was nominated for 2022 "Personal Fina...
2023-06-3009 min
Personal Finance for Long-Term Investors - The Best InterestDoes the Debt Ceiling Affect Your Finances? - E57You might’ve seen it on the nightly news or read it in the morning paper, but things got a little tense on Capitol Hill leading into Memorial Day weekend. Today we’re going to talk about the debt ceiling crisis that almost happened in the US. Luckily, politicians figured it out, or at least kicked the can down the road. So, what does that mean for your finances? Well, hopefully nothing. But what about a couple looming questions like: What are the underlying factors that contribute to the need for the government to raise the d...
2023-06-2129 min
Personal Finance for Long-Term Investors - The Best Interest7 Facts That'll Change How You Invest in the Stock Market - E56Investing can be stressful. We worry when our accounts are going down and grow overconfident when our accounts are going up. So how do we find a good baseline? Surprisingly, one of the answers has to do with chess and a Chinese emperor. Sit back and let Jesse improve your investing mindset as he explains 7 intriguing stories and facts about how the stock market works. Mentions: *Actual Stock Market Returns* Will Change Your Investing Perspective…: https://bestinterest.blog/actual-stock-market-returns/ Aswath Damodaran: A Valuati...
2023-06-0744 minOptimal Finance Daily - Financial Independence and Money AdviceThe Golden Rule of Personal Finance by Jesse Cramer on How to Navigate Your MoneyJesse Cramer shares the golden rule of personal financeEpisode 2319: The Golden Rule of Personal Finance by Jesse CramerJesse started The Best Interest in 2018. He was a mechanical engineer by day, working on satellite telescopes. But his passion was to help people improve their personal finances. He began writing to "learn in public," to help people, and to add genuine signal to an otherwise noisy Internet. Fast forward to now. So much has changed. -The Best Interest was nominated for 2022 "Personal Finance Blog of the Year" -Jesse...
2023-05-2509 min
Personal Finance for Long-Term Investors - The Best InterestConversations with Aging Parents - E55Time is coming for us all, and according to one survey, 73% of adult children haven’t had detailed conversations with their parents about their parents’ finances. In fact, many of them don’t know how to even start the discussion. Today, on The Best Interest Podcast, Jesse explains a few ways to bring up this conversation, gather information, and details which topics you should discuss not just with your parents, but family at large. Communication is a huge part of personal finance and all relationships, and the mixture of finance and family i...
2023-05-2445 min
Personal Finance for Long-Term Investors - The Best InterestChoosing FI, with Brad Barrett - E54Today, we explore the concept of FIRE, a community of individuals dedicated to the principles of achieving financial independence and early retirement. Jesse plays devil’s advocate against FIRE, dives into the nuance of the 4% rule (a widely misunderstood concept in the FIRE community), and demonstrates how to shape financial independence to work for your personal goals. Then, Brad Barrett, the host of the popular personal finance podcast Choose FI, joins Jesse to cover the objective numbers when it comes to achieving financial independence before traditional retirement and why pursuing financial indep...
2023-05-101h 17
Personal Finance for Long-Term Investors - The Best InterestRoth vs. Traditional, and Other Vital Tax Topics - E53Three things are certain in life: death, taxes, and a couple weekly articles from The Best Interest. Today we explore the intersection of two of the most important components of personal finances, taxes and investing and why you might save thousands of dollars off your tax bill. Jesse tackles the topic of taxes from a few different angles: the most common mistakes in understanding taxes including tax brackets, how they work and why accepting a raise can’t decrease your take home pay, the RRTTLLU framework of assessing investments and taxes, the “real returns” of differe...
2023-04-2641 min
The Financial OperatorE68: Money is Simple, but Not Easy: Here’s the 3 Golden Rules of Personal Finance - Jesse CramerWhy is personal finance so dang complicated? And does it need to be? Today, you’ll find out how three easy steps can serve as the foundation for your financial success. What You’ll Learn: - When do people default to operating out of a state of fear rather than abundance? - In times of economic downturn, how can you position your business to come out successful? - Why recessions lead to creative destruction - You can do 90% of investing with only 10% of the knowledge - The...
2023-04-2431 min
Personal Finance for Long-Term Investors - The Best InterestThe Big Risk Staring You in the Face - E52Uncle Jim is certain Tesla stock is about to go up. He’s been right before. I mean he’s also been wrong, but only when something unpredictable happened. So, should we trust Uncle Jim knows what he’s talking about? Well, I’m confident the average “Uncle Jim” is way too overconfident. Larry Swedroe says the biggest risk to most investors is staring them in the mirror, and I’d have to agree. So, how does this overconfidence manifest itself in investors, and where does it come from? Sit back as I explore the...
2023-04-1225 minPersonal Finance for Long-Term Investors - The Best InterestWhy is Personal Finance so Complicated?Why is personal finance so complicated? Even worse, the Internet is full of personal finance “experts” providing short-sighted, error-prone, and outright bad financial advice. Sure, we all need the basic advice - investing 101, budgeting, how to avoid financial frauds. But then there’s the more complicated stuff… What happened at Silicon Valley Bank in March 2023? Why did bonds - a supposedly safe investment - suffer losses in 2022? How did the Great Financial Crisis happen - and could it happen again?! We all want to understand s...
2023-04-0601 min
Personal Finance for Long-Term Investors - The Best InterestInsurance 101 - E51If a guy from Facebook messages you about whole life insurance more than your mom texts you, it's time to be suspicious. He may have more interest in your wallet than your well-being. But not all insurance is bad. Insurance is meant to protect wealth, not create it, and anyone who’s crashed their car or broken their clavicle knows this to be true. So, what insurance is right for you? Jesse breaks down the types of personal insurance that can help protect your assets, your health and your loved ones. Oh, a...
2023-03-2932 min
Personal Finance for Long-Term Investors - The Best InterestThe Banking Collapse in Simple Terms - E50Bank runs, collapses, and bailouts. Anyone else getting GFC PTSD? The Silicon Valley Bank collapse is the largest bank collapse since the 2008 Great Financial Crisis,, and the second largest U.S. bank collapse ever. So, why did it happen? Will this spark a larger contagion throughout the banking sector and the U.S. economy, and should everyday savers be concerned? Jesse breaks down the larger infrastructure of the banking industry, what specific mechanics led to the failure of Silicon Valley Bank, and what might come of it in the near future. Me...
2023-03-1523 min
Personal Finance for Long-Term Investors - The Best InterestReviewing Warren Buffett's Latest Shareholder Letter - E49So what did Warren Buffett mean by silver tongued demagogues and slaying dragons? Jesse sits down with Rob Bradley, a fellow Berkshire Hathaway shareholder and CFP in Rochester, NY, to discuss the wealth of knowledge behind Berkshire Hathaway’s latest annual letter to shareholders. Buffett is widely regarded as one of the greatest investors of all time and his investing style has been studied and emulated by many investors over the years. Rob breaks down how Berkshire Hathaway has outperformed the S&P, invested in Apple as an indispensable consumer product, and poised itself to take...
2023-03-0152 min
Personal Finance for Long-Term Investors - The Best InterestMoney is Simple...But Not Easy - E48Truth be told, personal finance is simple. There’s only a small number of foundational rules and a sprinkle of middle school math involved. But our natural human short-comings make personal finance difficult to enact. So, how can we overcome the biases and behaviors that prevent us from successfully achieving our financial goals? Jesse simplifies personal finance into three basic rules: spend less than you earn, save or invest the difference, and create safety nets. It’s great to have a foundation, however, we all know the devil’s in the details, s...
2023-02-1522 min
Personal Finance for Long-Term Investors - The Best InterestIs There a "War on Merit?" featuring The Financial Samurai - E47While the idea of living in a meritocracy is desirable, as it rewards those who do better, is it prevalent in today’s society? With 25% of American households making less than $30,000 a year, do billionaires really offer 200,000 times the merit than them? At what age do we start to blame the poor kid, a victim of bad luck his entire life, for his poor circumstances? Is anyone really self-made? Or does everything unfold by mere chance? I invite Sam Dogen, The Financial Samurai, to discuss the role merit plays in the real...
2023-02-0134 min
Personal Finance for Long-Term Investors - The Best Interest9 Science-Backed Tips For Your 2023 Finances - E462022 was a unique year for investors. Let’s compare last year’s bond and stock performances with historical trends to paint a bigger picture. Looking ahead to 2023 and beyond, there are reasons to be optimistic. Next, underneath all the snow, there’s a cold lesson that came from the unexpected events of the Buffalo blizzard. Hear Jesse’s firsthand account and the important lesson learned. And finally, Jesse shares 9 scientific tips to help you achieve your New Year's Resolutions, especially financial resolutions. Mentions: https://bestin...
2023-01-1846 min
Personal Finance for Long-Term Investors - The Best InterestA Terrific Interview - Jesse Cramer on “The Struggle is Real” - E45Big thanks to Justin Peters, from The Struggle is Real podcast, for allowing me to share this episode. A few months ago, Justin and I sat down to discuss helping young adults with their personal finances. We had a great conversation, which I want to share with you in its entirety! If you’re curious to learn more, check out Justin’s Show Notes below: If you’re paying attention to your portfolio right now, you know the stock market has been on a nosedive, and if you’re anything like me, this ma...
2023-01-0457 min
Personal Finance for Long-Term Investors - The Best InterestFTX Collapse, Lessons From My Honeymoon, and Why I Quit Social Media - E44FTX has been dominating the news. But what’s a simple explanation of what happened? Jesse explains the sudden rise and fall of the FTX and its founder, Sam Bankman-Fried. Jesse shares a tough honeymoon delay as a reminder: it’s important to build in margin for unexpected events, because some things are out of our control. Social media is addictive by design. It wastes time, manipulates peoples’ views, emotions, and behavior. And that’s why quitting social media is in Jesse’s best interest. Mentions: 6 Investing...
2022-12-2141 min
Andy and FriendsNobody is Safe From the 2022 Market Crash - Jesse CramerJesse Cramer and Andy dig into the bizarre nature of 2022's market crash, how to approach portfolio volatility, and how they each approach budgeting for the short term and long term. ➤ Follow Jesse Cramer On Twitter: https://twitter.com/BestInterest_JC➤ Read Jesse Cramer's Blog: https://bestinterest.blog/➤ Listen to Best Interest Podcast w/ Jesse Cramer: https://bestinterest.blog/the-best-interest-podcast/➤Watch this episode on YouTube: https://youtu.be/aiyWqtK3QWc➤ My Main Channel: https://www.youtube.com/c/YourFriendAndy➤Join Zzz Money Club: https://zzzmoneyclub.com/
2022-11-021h 17
Personal Finance for Long-Term Investors - The Best InterestKanye West and Reader Questions - E41This episode features thoughts on Kanye West, and detailed answers to two terrific reader/listener questions. A few links: Original Kanye article: https://bestinterest.blog/kanye-broker-than-me/ ChroniFi podcast: https://podcasts.apple.com/us/podcast/acting-in-your-own-best-interest-interview-with-jesse/id1597816029?i=1000579101148 BiggerPockets podcast: https://podcasts.apple.com/tr/podcast/the-almost-guaranteed-way-to-31x-your-investments/id1330225136?i=1000579159475
2022-09-2130 min
Adulting Is Easy: Making Personal Finance & Real Estate EasyAIE 84: What NOT to Do as a New Investor with Jesse CramerThis week, Lauren interviews Jesse Cramer, an engineer-turned-wealth-manager, about the behavior of his clients who are new to investing, whether young, medium, or older. The two discuss goal-setting, the importance of diversification, mistakes new investors make, inflation, the role cash should play in your portfolio, and yes, crypto (surprising answer from Jesse there tbh). You'll learn a lot in this one.
About Jesse:
Jesse Cramer is the founder of The Best Interest, an investing blog with over 500,000 readers since 2018. He works full-time in wealth management in Rochester, NY, where he lives with his fiancée a...
2022-07-2638 min
The Financial OperatorE34: Key Takeaways From Our Financial Journeys Featuring Jesse CramerIn this special episode of Mills Know Bills, Mills collaborates with a financial advisor and renowned financial blogger Jesse Cramer. Jesse and Mills share their respective stories of how learning to master their finances transformed both their personal lives and professional careers. In this conversation, listeners will have the chance to listen in as two financial experts exchange notes, share finance stories, and compare and contrast their approaches to financial wellness, wealth management, and personal finance coaching. This casual collaboration covers everything from the basics of getting your finances in order to some of the guiding principles t...
2022-04-1141 min
Personal Finance for Long-Term Investors - The Best InterestMoney Hungry with Michelle Jackson - E34Michelle Jackson is an entrepreneur involved in various forms of financial media and non-financial media. Plus, she's super funny and entertaining. Get ahold of Michelle at: https://michelleismoneyhungry.com/connect-with-michelle/ Listen to Michelle discuss personal finance with a sex worker: https://podcasts.apple.com/us/podcast/making-money-online-as-a-sex-worker-a/id1142053967?i=1000530725647 Listen to Jesse and Michelle discuss Bitcoin: https://michelleismoneyhungry.com/what-is-bitcoin/ Start your Personal Capital account today - personalcapital.sjv.io/9WAGRE
2021-08-311h 05
Personal Finance for Long-Term Investors - The Best InterestAsk Us Anything Vol. 1 (Twitter Spaces) - E29This week on our Twitter Spaces, the listeners write and call in to ask us anything, and we reply live on air. Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC
2021-08-031h 16
Personal Finance for Long-Term Investors - The Best InterestReal Estate Investing (Twitter Spaces) - E27This week on our Twitter Spaces, we spoke about real estate investing. Show notes: Shadow's book: https://shadowskaggs.gumroad.com/l/rentingrural Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC
2021-07-2753 min
Personal Finance for Long-Term Investors - The Best InterestThe Cost of College (Twitter Spaces) - E25This week on our Twitter Spaces, we spoke about the cost of college. What do the financial numbers say about college's long-term benefits? Show notes: Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC
2021-07-1941 min
Personal Finance for Long-Term Investors - The Best InterestCreating Wealth with "The Art of Purpose" - E24This episode features "The Art of Purpose," an online content creator who recently reach financial independance. We discuss: Online content creation Financial independance The public school system The psychology of money And even classical music :) Links: Start your Personal Capital account today - personalcapital.sjv.io/9WAGRE AOP's Twitter: https://twitter.com/creation247 The Create 24/7 Course: https://gumroad.com/a/235476083/oHCQf The MasterClass: https://creation247.gumroad.com/l/masterclass247 Jesse's contact: Jesse@bestinterest.blog https://bestinterest.blog https://twitter.co...
2021-07-1354 min
Personal Finance for Long-Term Investors - The Best InterestCar Talk (Twitter Spaces) - E23This week on our Twitter Spaces, we had a car talk - all about the finances of cars. Show notes: Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC Dave Ramsey article: https://bestinterest.blog/rules/ Car cost article: https://bestinterest.blog/cost-of-car-ownership/
2021-07-1256 min
Personal Finance for Long-Term Investors - The Best InterestAll About Bitcoin (Twitter Spaces) - E21This week on our Twitter Spaces, we take on Bitcoin. Is it the future? Or a fad? Show notes: Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC Article on "buying the dip" with Bitcoin: https://bestinterest.blog/buy-the-dip-for-bitcoin/
2021-06-281h 25
Personal Finance for Long-Term Investors - The Best InterestMoney Psychology with the "BudgetDog" - E20On Episode 20 of The Best Interest Podcast, we welcome Brennan Schlagbaum, the "Budgetdog" We discuss: - How "Budgetdog" started and how the 2008 financial crisis influenced Brennan's financial stance - The infamous "mortgage vs. investing" debate - Investing in yourself Find Brennan: Twitter: https://twitter.com/budgetdog_ Instagram: https://www.instagram.com/budgetdog/?hl=en Find Jesse: The Best Interest https://bestinterest.blog Twitter: https://twitter.com/BestInterest_JC
2021-06-2235 min
Personal Finance for Long-Term Investors - The Best InterestRoth or Traditional? (Twitter Spaces) - E19This week on our Twitter Spaces, we take on the classic "Roth vs. Traditional" question. Should you pay taxes NOW? Or wait to pay them LATER? And this episode even includes some very entertaining trolls :) Show notes: Dave - @UncommonYield Roger - @UpshotWealth Brandon - @RinkydooFinance Adam - @AdamShoup Andy - @OhHaiAndy Shadow - @ShadowRents Jesse - @BestInterest_JC Tax bracket article: https://bestinterest.blog/how-tax-brackets-work/
2021-06-211h 03
Personal Finance for Long-Term Investors - The Best InterestStart Here: The One Thing to Know Before Starting The Best Interest Podcast - E1In this inaugural episode of the Best Interest Podcast, Jesse revises the show's starting point by addressing the audience in May 2024, recommending new listeners to begin with the most recent content or from episode 44 onwards. Jesse admits the early episodes from its initial launch in February 2021 had lower quality, suggesting the later episodes have significantly better production, content, and engaging interviews. He encourages new listeners to either work backwards from the latest episodes or choose topics and guests of interest from recent content for an engaging and educational experience. 00:00 Welcome to the Best Interest Podcast! 00:31 A Candid Look Bac...
2021-02-1103 min