Dr. Brad Klontz

They have actually done studies and dead investors outperform living investors. Right. So wrap your head around that. Talk about lack of emotion. Well, if you're dead, you're not feeling any emotion and you're not making any trades in your account. You do better than people who are alive because people who are alive get sucked into, I need to get rich fast or social media, for example.

They have actually done studies and dead investors outperform living investors. Right. So wrap your head around that. Talk about lack of emotion. Well, if you're dead, you're not feeling any emotion and you're not making any trades in your account. You do better than people who are alive because people who are alive get sucked into, I need to get rich fast or social media, for example.

They have actually done studies and dead investors outperform living investors. Right. So wrap your head around that. Talk about lack of emotion. Well, if you're dead, you're not feeling any emotion and you're not making any trades in your account. You do better than people who are alive because people who are alive get sucked into, I need to get rich fast or social media, for example.

Seeing people with outward displays of wealth. So this is one of the things that we've actually found is that statistically speaking, most self-made billionaires describe themselves as frugal. They're not the ones that are flashing the brand new cars. They're not the ones in the middle class home with two brand new cars out front. Those people are always going to be middle class, by the way.

Seeing people with outward displays of wealth. So this is one of the things that we've actually found is that statistically speaking, most self-made billionaires describe themselves as frugal. They're not the ones that are flashing the brand new cars. They're not the ones in the middle class home with two brand new cars out front. Those people are always going to be middle class, by the way.

Seeing people with outward displays of wealth. So this is one of the things that we've actually found is that statistically speaking, most self-made billionaires describe themselves as frugal. They're not the ones that are flashing the brand new cars. They're not the ones in the middle class home with two brand new cars out front. Those people are always going to be middle class, by the way.

Studies show that the people who become wealthy are money vigilant. So we talked about those beliefs, right? They believe it's important to save for a rainy day. They're sort of nervous about the future. They're taking chips off the table. They have a vision of the future that they want to invest in. They're not doing what we're wired to do, which is consume everything right now.

Studies show that the people who become wealthy are money vigilant. So we talked about those beliefs, right? They believe it's important to save for a rainy day. They're sort of nervous about the future. They're taking chips off the table. They have a vision of the future that they want to invest in. They're not doing what we're wired to do, which is consume everything right now.

Studies show that the people who become wealthy are money vigilant. So we talked about those beliefs, right? They believe it's important to save for a rainy day. They're sort of nervous about the future. They're taking chips off the table. They have a vision of the future that they want to invest in. They're not doing what we're wired to do, which is consume everything right now.

The whole concept of saving goes against our wiring, let alone saving. Not sharing it all with the tribe. This is another huge thing from my socioeconomic background. If anyone got any money, you better share it. Like what are, what's wrong with you? You know? Um, and so it, it kind of goes against that lower income tribe too, for you to even be setting money aside.

The whole concept of saving goes against our wiring, let alone saving. Not sharing it all with the tribe. This is another huge thing from my socioeconomic background. If anyone got any money, you better share it. Like what are, what's wrong with you? You know? Um, and so it, it kind of goes against that lower income tribe too, for you to even be setting money aside.

The whole concept of saving goes against our wiring, let alone saving. Not sharing it all with the tribe. This is another huge thing from my socioeconomic background. If anyone got any money, you better share it. Like what are, what's wrong with you? You know? Um, and so it, it kind of goes against that lower income tribe too, for you to even be setting money aside.

It's like, you're saving 20% of your income. Don't you know, your sister's about to lose her house. It's like, what are you doing? And it's like, whoa, I love, I love my sister. But, um, by the way, it's just an example of my sister's doing okay. Yeah. But it's like I got plenty of cousins who aren't. And it's like there's tons of pressure there.

It's like, you're saving 20% of your income. Don't you know, your sister's about to lose her house. It's like, what are you doing? And it's like, whoa, I love, I love my sister. But, um, by the way, it's just an example of my sister's doing okay. Yeah. But it's like I got plenty of cousins who aren't. And it's like there's tons of pressure there.

It's like, you're saving 20% of your income. Don't you know, your sister's about to lose her house. It's like, what are you doing? And it's like, whoa, I love, I love my sister. But, um, by the way, it's just an example of my sister's doing okay. Yeah. But it's like I got plenty of cousins who aren't. And it's like there's tons of pressure there.

So the question you got to ask yourself is how can I save and invest for my future, which, by the way, is going to put you in a better position to help out the people you love, frankly, and not fall into that. So for me, so much of our struggles with money can directly be related to our emotional brain and that tribal sort of instinct that we have.

So the question you got to ask yourself is how can I save and invest for my future, which, by the way, is going to put you in a better position to help out the people you love, frankly, and not fall into that. So for me, so much of our struggles with money can directly be related to our emotional brain and that tribal sort of instinct that we have.

So the question you got to ask yourself is how can I save and invest for my future, which, by the way, is going to put you in a better position to help out the people you love, frankly, and not fall into that. So for me, so much of our struggles with money can directly be related to our emotional brain and that tribal sort of instinct that we have.

Yeah, so I would say that a million dollars goes fast if you're spending it. And if you look at a million dollars, though, as an asset that's going to spin off cash for you, That's when it starts to look really good. And so we talk about in our book, the 4% rule, which is essentially how much money do I need to set aside to have freedom?

Yeah, so I would say that a million dollars goes fast if you're spending it. And if you look at a million dollars, though, as an asset that's going to spin off cash for you, That's when it starts to look really good. And so we talk about in our book, the 4% rule, which is essentially how much money do I need to set aside to have freedom?