11 Lessons Every Investor Needs to Know with Ben Carlson

#191: Grow your wealth and build a resilient portfolio by making smarter decisions with these 11 investing lessons. Financial advisor Ben Carlson and I share actionable insights on managing risk, overcoming psychological barriers in investing, and the power of simplicity and diversification to ensure long-term, fulfilling financial success.

Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management and the author of four books on investing and personal finance. He runs the popular blog A Wealth of Common Sense, where he shares insights on financial markets and investing strategies. Ben also co-hosts Animal Spirits, one of my favorite podcasts.

Resources Mentioned

Ben Carlson: Website | Animal Spirits Podcast | X

Wealthfront Risk Parity Fund | What is Risk Parity?

JP Morgan: S&P 500 Market Concentration Chart

Fractional Vacation Homes: Pacaso

Paula Pant’s Podcast: Afford Anything

Safe Withdrawals: Free DIY Withdrawal Rate Toolbox | Safe Withdrawal Rate Series

Study: Spending Habits of Retirees

ATH Podcast

Ep #41: Beating Inflation, Alternative Assets, and Simplifying Your Finances with Ben Carlson
Ep #59: Save Money, Build Wealth and Just Keep Buying with Nick Maggiulli
Ep #91: Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins
Ep #117: Navigating a High Rate Market: Buying a Home, Preparing for a Recession and Where to Put Cash with Ben Carlson
Ep #168: Building an Investment Portfolio to Grow and Protect Your Wealth with Chris Doyl
Ep #180: Stocks vs. Real Estate: What’s the Best Investment to Build Wealth?
Ep #186: 25 Money Rules (and When to Break Them) with Brian Feroldi
Ep #189: Beyond the 4% Rule: Smarter Strategies for Financial Independence with Karsten Jeske
Join our Newsletter
Follow & Review on Apple Podcasts
Email us for questions, tips, deals and feedback

Full Show Notes

(00:00) Introduction

(02:30) Experience in Investing Is Not the Same as Expertise

(03:24) Intelligence Doesn’t Guarantee Investment Success

(05:42) No One Lives Life in the Long Term

(07:32) Experiences Shape Your Perception of Risk

(10:12) The Biggest Risks Are Always the Same yet Different

(13:29) Optimism Should Be Your Default

(20:03) There Is No Such Thing as a Perfect Portfolio

(22:31) Overthinking Can Be Just as Debilitating as Not Thinking at All

(24:30) How to Think About a Simple Portfolio with International Exposure

(26:17) Less Is More

(30:17) Ways to Reduce Overthinking

(32:02) Tax Loss Harvesting vs. Direct Indexing

(39:02) Why Ben Wrote a Post on 20 Money Lessons

(40:11) Lesson #10: There Is a Big Difference Between Rich and Wealthy

(43:37) The Reason Ben and Chris Invested in Holiday Homes

(48:27) What's a Reasonable Amount to Save?

(51:29) You Probably Need Less Money Than You Think for Retirement

(56:47) The Final Biggest Takeaway

Connect with Chris

Newsletter | Membership | Twitter | Instagram | LinkedIn

Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.