Money For the Rest of Us

Five Practices That Have Shaped My Career

29 Apr 2026

Contributed by Lukas

I share five business practices that have carried me through asset bubbles, financial crises, business pivots, and now the rise of AI.Topics covered i...

Invitation to Our Live Portfolio Review and Rebalancing Special Webinar

22 Apr 2026

Contributed by Lukas

Please attend our live webinar on portfolio construction and rebalancing scheduled for Thursday, April 30th, at 12PM Eastern, 9AM Pacific time. I will...

There Is No Perfect Portfolio. Just Good Enough

15 Apr 2026

Contributed by Lukas

Why portfolio construction is messy, personal, and never perfect. We compare the pros and cons of several portfolio strategies, including target-date ...

A MFTROU Update, Cognitive Offloading Versus Cognitive Surrender, and Live Portfolio Cohorts

01 Apr 2026

Contributed by Lukas

In this mini episode, I share some examples of how I am using Claude Cowork and other tools to boost my productivity and build investment portfolio an...

Is Another Great Financial Crisis Coming? 5 Ways to Prepare

25 Mar 2026

Contributed by Lukas

How the Iran conflict and other developments could lead to another major financial crisis. What is different today from 2008? Why trying to seed a rev...

AI Is Changing Me - and the Case for Good Enough

11 Mar 2026

Contributed by Lukas

When is good enough actually good enough? AI is reshaping how I work and live. And a member with a portfolio that's beaten an all-in-one Vanguard Life...

What Average Really Looks Like — and Can Managed Futures Help?

25 Feb 2026

Contributed by Lukas

How historical and expected returns for university endowments can guide us in setting reasonable return expectations. We also analyze managed futures ...

Asset Location: Where You Invest, Where You Live, What You Can Access

11 Feb 2026

Contributed by Lukas

In this episode, we look at asset location, how to decide which investments belong in taxable, tax-deferred, and tax-free accounts, how where we live ...

Why Catastrophe Bonds Yield 12%. Should You Invest?

28 Jan 2026

Contributed by Lukas

A new ETF allows individuals to earn income by insuring against natural disasters through investing in catastrophe bonds. We break down the historical...

What Will Drive Financial Markets in 2026—and How to Make It Your Best Year

14 Jan 2026

Contributed by Lukas

We explore the forces likely to shape financial markets in 2026 and how to make better decisions as you pursue your goals this year.Topics covered inc...

Debt Is For Managing Wealth Not Creating It

17 Dec 2025

Contributed by Lukas

Should you borrow money to magnify returns in your 401 (k), IRA, or other tax-deferred retirement account?We examine Basic Capital, which allows inves...

Do Retiring Baby Boomers Actually Move Markets? And How Much Do Demographics Really Matter

10 Dec 2025

Contributed by Lukas

As Baby Boomers continue to retire, some analysts expect financial markets to feel the strain. We examine whether demographic shifts truly shape stock...

Burnout, Breaks, and the Courage to Spend with David Bach

19 Nov 2025

Contributed by Lukas

David converses with best-selling author David Bach about preventing burnout through sabbaticals, moving to another country, why retirees should take ...

Sports Betting Is Not Investing

12 Nov 2025

Contributed by Lukas

Can you really make money sports betting on low-risk, high-probability events?Topics covered include:The growing size and influence of the U.S. sports...

Hoarding, FOMO, and Zcash: A Private Bitcoin

29 Oct 2025

Contributed by Lukas

What’s the difference between hoarding and investing? There’s a reason markets built on productive assets—like stocks and bonds—are far larger...

Don’t Take Financial Advice from AI

22 Oct 2025

Contributed by Lukas

How AI gets simple finance wrong, and how to make it work for you, not mislead youTopics covered include:How AI ignores the time value of moneyA detai...

Debasement Fears or Meme Fever? What’s Driving the Gold and Silver Rally

15 Oct 2025

Contributed by Lukas

Are gold and silver up more than 50% in 2025 because investors fear currency debasement, or is this rally just the latest meme trade? In this episode,...

Beyond Munis — New ETFs for Tax-Efficient Bond Investing

08 Oct 2025

Contributed by Lukas

How to decide when to invest in municipal bonds versus new tax-efficient bond ETFs that don't invest in munis.We analyze several newer ETFs that earn ...

Money for the Rest of Us Update

24 Sep 2025

Contributed by Lukas

This week there isn’t a regular Money for the Rest of Us episode, but David shares an update on what’s happening behind the scenes. He p...

Resilient Wealth in an Era of Infinite Money

17 Sep 2025

Contributed by Lukas

What happens when the money supply grows too slowly or too quickly? From gold-standard deflation to QE-driven inflation and inequality, we trace ...

Forests, Fakes, and the Fight for the Real

10 Sep 2025

Contributed by Lukas

From salmon leaping along the Vancouver Island coast to fake bands on Spotify, this episode explores the divide between the physical and digital econo...

Why Central Banking Is So Hard and Why Fed Independence Matters

27 Aug 2025

Contributed by Lukas

Central bankers set policy with incomplete information, unobservable targets, and constant trade-offs between growth, inflation, and employment. In th...

How To Invest During a Bubble

20 Aug 2025

Contributed by Lukas

From the dot-com boom to today’s AI frenzy, bubbles follow a familiar script. This episode explores how to recognize them, what sustains them, and h...

Six Principles for Thriving Under Uncertainty and How Big Tech Is Doing the Opposite

13 Aug 2025

Contributed by Lukas

A practical framework for making better decisions, managing risk, and finding opportunity in unpredictable environments. We contrast these principles ...

Why Most Hedge Funds Fail but This One Didn’t with Dave Thomas

06 Aug 2025

Contributed by Lukas

Dave Thomas, CIO and Founder of long/short hedge fund, Atalan Capital Partners, shares why most hedge funds fail and the keys to being a long-term suc...

How To Better Navigate Money, Risk, Time, and Uncertainty with Carl Richards

30 Jul 2025

Contributed by Lukas

David converses with renowned illustrator and financial philosopher Carl Richards on the abstraction of money, attention capital, distinguishing risk ...

Should Private Assets, Gold, and Crypto Be Investment Options in 401k and other Defined Contribution Plans?

23 Jul 2025

Contributed by Lukas

A new executive order could radically reshape retirement investing by allowing private equity, crypto, and gold in 401(k) plans. This episode examines...

Will AI Wipe Out Half of White Collar Jobs or Is There an AI Bubble?

16 Jul 2025

Contributed by Lukas

We explore the compelling questions surrounding artificial intelligence. Will AI create more new jobs than it destroys? Is AI already destroying jobs?...

Mining and the Global Race for Critical Minerals with Kinterra Capital

09 Jul 2025

Contributed by Lukas

How the investing landscape is being reshaped by the global race for critical minerals.Topics covered in this conversation between FEG's Greg Dowling ...

Are Robo Advisors Worth It Even With Tax Loss Harvesting and Direct Indexing?

25 Jun 2025

Contributed by Lukas

We examine how robo-advisors have evolved over the past decade to determine if their services justify the fees they charge.Topics covered include:How ...

Climbing the Wealth Ladder with Nick Maggiulli

18 Jun 2025

Contributed by Lukas

How our spending, investing, and life strategy change as our net worth grows. We consider how skill, luck, discipline, relationships, and AI can allow...

Stablecoins and CBDCs: Their Rise, Risks and Possibilities

11 Jun 2025

Contributed by Lukas

Circle Invest, one of the leading stablecoin providers, just went public, and its stock price has tripled. We delve into the growth of stablecoins, th...

The Future of Power: Energy at a Crossroads with Scott Harland

04 Jun 2025

Contributed by Lukas

From wildfires to AI-driven demand surges, the power grid is under pressure—and so is the investment landscape around it. Scott Harland of Rockland ...

No More AAA - What the U.S. Debt Downgrade Means for Investors

21 May 2025

Contributed by Lukas

With longer-term U.S. interest rates rising and no plan to reduce the budget deficit, is a U.S. national debt crisis imminent?Topics covered include:W...

Facing a Financial Squeeze: What Harvard’s Response Can Teach the Rest of Us

14 May 2025

Contributed by Lukas

How can we apply the same emergency measures that Harvard and other universities are using to navigate a financial crisis? Also, how universities inve...

Why Bond Investing Is Easier Than Ever

07 May 2025

Contributed by Lukas

Discover how bond market ETFs have transformed investing — making bonds easier, cheaper, and more accessible than ever. We also explore how the bond...

Investing in Emerging Markets with Ali Akay

30 Apr 2025

Contributed by Lukas

Ali Akay, CIO of Carrhae Capital, answers why invest in emerging markets. He also shares with Greg Dowling of FEG insights on China, Mexico, South Kor...

Is the Rest of the World Selling America?

23 Apr 2025

Contributed by Lukas

The U.S has traditionally been a safe haven for investing, but that hasn't been the case in 2025. We explore three economic and narrative regimes and ...

Where Are We Heading?

16 Apr 2025

Contributed by Lukas

In this episode, we explore what it means to invest in a non-ergodic world—where time, not averages, determines outcomes. We unpack concepts like vo...

Is This the End of Globalization and Free Trade?

09 Apr 2025

Contributed by Lukas

What will the impact be now that the U.S. has one of the highest tariff rates in the world?Topics covered include:Why the Trump administration raised ...

Is It Too Late to Invest in Gold? with Max Belmont - FEG Insight Bridge

02 Apr 2025

Contributed by Lukas

Greg Dowling of FEG interviews Max Belmont, a gold specialist and portfolio manager at First Eagle Investments. Greg and Max discuss the historical, p...

Should You Investment 100% of Your Retirement in Closed-End Funds?

26 Mar 2025

Contributed by Lukas

We compare three approaches to closed-end fund investing: Opportunistic trading, the buy and hold income factory, and a systematic approach of selling...

What Trump Wants Part 2 - How Trade Deficits and Capital Flows Can Harm or Help Countries

19 Mar 2025

Contributed by Lukas

How trade deficits are making the U.S. poorer, while in the past they have made the U.S. wealthier.Topics covered include:Two ways countries can incre...

Tariffs and the Mar-a-Lago Accord: What Trump Really Wants

12 Mar 2025

Contributed by Lukas

How the Trump administration is using tariffs as a negotiating tool to weaken the U.S. dollar and increase the global competitiveness of U.S. manufact...

Why Japanese Stocks Could Outperform with Howard Smith - FEG Insight Bridge

05 Mar 2025

Contributed by Lukas

This week on episode 514, we share a conversation between Howard Smith of Indus Capital and Greg Dowling of FEG Investment Advisors on why Japan could...

Crypto: Innovation or Insanity? Meme Coins, Hacks, and Strategic Bitcoin Reserves

26 Feb 2025

Contributed by Lukas

We consider the incongruency of a U.S. Strategic Bitcoin Reserve, the latest crypto exchange hack, and how most participants lost money on the Trump m...

Unlocking Hidden Returns: How Mortality Credits Boost Retirement Income

19 Feb 2025

Contributed by Lukas

How using a deferred income annuity can increase retirement income compared to an immediate annuity or a bond ladder.Topics covered include:How immedi...

What Are Sovereign Wealth Funds and Does the U.S. Need One?

12 Feb 2025

Contributed by Lukas

The U.S. and the UK each announced they were establishing sovereign wealth funds. We explore the purposes and types of sovereign wealth funds, how the...

Contrarian Investing with GMO's Ben Inker - FEG Insight Bridge

05 Feb 2025

Contributed by Lukas

This week on episode 510, we share a conversation between Ben Inker of GMO and Greg Dowling of FEG Investment Advisors on contrarian investing, deep v...

How to Invest in Private Credit / Direct Lending

29 Jan 2025

Contributed by Lukas

We explore what private credit, or direct lending, is and how to invest in it. We also show how it is similar and different from investing in leverage...

Who Should Bear the Cost? Socialized versus Market-Based Risk Management

22 Jan 2025

Contributed by Lukas

Natural disasters are becoming more severe and costly—who should bear the financial burden? We explore the tension between socialized risk and marke...

Where You Live Matters - How Geography Contributes to Wealth

15 Jan 2025

Contributed by Lukas

How geography contributes to economic growth and can increase or lower the cost of living.Topics covered include:Why living in a developing country li...

 Should You Retire Early and Live Outside Your Home Country? with Joshua Sheets

08 Jan 2025

Contributed by Lukas

In episode 506, Joshua shares the pros and cons of living outside of your home country. He convinces David why he needs more than one passport. Finall...

Optimization, AI and Opting Out with Coco Krumme

18 Dec 2024

Contributed by Lukas

In our final episode of the year, I converse with author and data scientist Coco Krumme about the benefits and costs of optimization in finance, indus...

Indexing Bubble and Asset Class Returns Still Revert to the Mean

11 Dec 2024

Contributed by Lukas

How asset class returns move in cycles with periods of above-average returns followed by periods of lower returns. How has the rise of passive indexin...

U.S. Stocks Have Never Been This Overhyped or Expensive

04 Dec 2024

Contributed by Lukas

What are the tangible and intangible factors that have contributed to long-term U.S. stock market outperformance compared to the rest of the world? De...

Should You Invest in Nuclear Energy?

20 Nov 2024

Contributed by Lukas

Why has there been renewed interest in nuclear power generation in the last couple of years, and how can we invest in it?Topics covered include:Why di...

Strategies and Systems Want Your Money

13 Nov 2024

Contributed by Lukas

We explore what strategy and systems are and how we craft and change them. We consider how investment strategies and financial systems have changed ov...

Episode 500: The S&P 500 Index and the Decade Ahead

06 Nov 2024

Contributed by Lukas

In the 500th episode of Money for the Rest of Us, we focus on the S&P 500 Index. How has the index changed, and why have U.S. stocks performed so ...

What Makes an Economy Prosperous? Spotlight on Cuba and Argentina

30 Oct 2024

Contributed by Lukas

We explore eight things that contribute to a healthy, growing economy and where Cuba and Argentina have fallen short.Topics covered include:Why Cuba c...

Ten Things I've Learned About Investing in the Past Decade

23 Oct 2024

Contributed by Lukas

In episode 498, David shares how his investing has changed over the past ten years and lessons you can apply to your portfolio.Document Your JourneyKe...

How to Fix the Retirement Savings Crisis

16 Oct 2024

Contributed by Lukas

Why 401k and other defined contribution schemes are flawed, leading to a generation of workers unprepared for retirement. What are the solutions to fi...

Are You Taking Enough Aspirational Risk?

09 Oct 2024

Contributed by Lukas

Why we need distinct risk buckets: balancing our natural loss aversion with the allure of opportunities that offer the potential for massive upside.To...

Plus episode excerpts: ETF Size, the Long-term Impact of QE, and Stock Market Inelasticity

02 Oct 2024

Contributed by Lukas

This week on the podcast, we share excerpts from Plus episode 484 on ETF size and the impact of QE, as well as Plus episode 493 on stock market inelas...

The Federal Reserve Cut Interest Rates. What Should We Do Now?

25 Sep 2024

Contributed by Lukas

What does the Federal Reserve's policy rate cut mean for our portfolios? Will interest rates keep falling? What changes should we make?Topics include:...

When to Sell Equity or Borrow: A Guide for Homeowners, Students, and Artists

18 Sep 2024

Contributed by Lukas

How do home equity investments, income share agreements, and music royalties work, and how can you participate?Topics covered include:How a home equit...

The Housing Affordability Crisis: What Caused It and How to Fix It

11 Sep 2024

Contributed by Lukas

What caused the 40% price increase in houses and rents, and what are governments doing to try to fix the problem.Topics covered include:Why 50% of the...

The Power of Optionality: Small Bets, Big Payoffs

04 Sep 2024

Contributed by Lukas

In this episode, we explore the concept of optionality—how small, strategic decisions can lead to outsized rewards with limited downside risk. From ...

The Five Layers of Investing - Which Layers Is Your Portfolio Allocated?

28 Aug 2024

Contributed by Lukas

In Episode 491, we explore the five layers of investing, including which assets fit into each layer, and give examples of advertisements targeting eac...

Should You Invest in Private Equity?

21 Aug 2024

Contributed by Lukas

How do buyouts, venture capital, and growth equity work? Has private equity outperformed the stock market, and can individual investors pursue these i...

Making Better Investment and Life Decisions - Episode 203 Remastered

14 Aug 2024

Contributed by Lukas

This week, we release one of David's favorite episodes from six years ago, Episode 203: Is Investing More Like Poker or Chess.Topics covered include:W...

Why the Market Has Sold Off and What Should You Do

07 Aug 2024

Contributed by Lukas

In episode 489, we examine three factors that contributed to this week's big stock market declines, analyze whether a recession is imminent, and revie...

Should You Invest in an Ethereum ETF?

31 Jul 2024

Contributed by Lukas

What is the investment case for Ethereum, and what are the risks? A straightforward review of what ether and Ethereum are, how they work, and what it ...

Are We Heading for a 2030s Depression? - Understanding Global Economic and Population Shifts

24 Jul 2024

Contributed by Lukas

What we can monitor and do now in preparation for a 2030s depression, which may or may not arrive.Topics covered include:Why ITR Economics has be...

How Retail Traders Lose Big While Enriching Wall Street

17 Jul 2024

Contributed by Lukas

Gambling in the stock market is increasing, with most traders losing money while generating billions of dollars per year for brokerages and wholesaler...

Should You Invest in Defined Outcome Buffer ETFs?

10 Jul 2024

Contributed by Lukas

Buffer ETFs protect against the downside while capping the upside. We examine them closely to see if they are worth it.Topics covered include:How buff...

7 Steps to Living a Long Life

26 Jun 2024

Contributed by Lukas

Seven ways to increase the odds of living long into your retirement years (if you choose to retire).SponsorsMonarch Money – Get an extended 30-day f...

Don't Lose Access to Your Cash: Comparing Banks, Neobanks, and Fintech Platforms for Cash Savings

19 Jun 2024

Contributed by Lukas

Millions of fintech app users have lost access to their cash. In this episode, we explain why this happened and show you how to protect yourself when ...

Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

12 Jun 2024

Contributed by Lukas

How a few high-impact successes drive up overall average outcomes in investing, business, and creative projects. How to harness positive skewness usin...

How to Navigate the Crippling Home Insurance Crisis

05 Jun 2024

Contributed by Lukas

Why are homeowners seeing home insurance premiums increases of up to 70%, as David has? What can you do if your insurer drops you, you get a huge prem...

Beyond Faster (T+1) Trade Settlements: The Hidden Costs of Optimization

29 May 2024

Contributed by Lukas

Why stock, ETF, and bond trades are optimized to settle in less than a day, allowing investors quicker access to their cash and securities. What are t...

National Debt Masterclass Finale - What To Do

22 May 2024

Contributed by Lukas

In part three of our national debt masterclass, we share a simple debt dynamics formula we can monitor to help guide our investment choices.Topics cov...

National Debt Masterclass Part Two

15 May 2024

Contributed by Lukas

In part two of this national debt series, we explore how households and businesses, including commercial banks, can choose not to participate in what ...

National Debt Master Class Part One

08 May 2024

Contributed by Lukas

In part one of this three part series, we consider why a country that issues debt in its own currency can't default unless it chooses to. We also expl...

Is Small Cap Dead? Why You Shouldn't Abandon Small Cap Stocks

24 Apr 2024

Contributed by Lukas

Why global small-cap stocks have underperformed large-cap stocks and will the trend continue? The investment case for allocating to global small caps....

Inflation's Illusion: Debunking the Normalcy of Currency Debasesment

17 Apr 2024

Contributed by Lukas

It is not normal to want prices to rise and currencies to lose their purchasing power. We look at the advantages of stable currencies and prices.Topic...

Are Emerging Markets Bonds a Once in a Generation Opportunity?

10 Apr 2024

Contributed by Lukas

Some analysts suggest that now is an incredibly attractive entry point to invest in emerging market bonds. We look at how to do this and whether you s...

Investing Fundamentals and What Is Attractive Now

03 Apr 2024

Contributed by Lukas

In this conversation with financial advisor Josh Jalinski, David shares his views on constructing and benchmarking portfolios, factor investing includ...

Is the Economy as Bad as People Think?

27 Mar 2024

Contributed by Lukas

Why most households are in better financial shape than prior to the pandemic, but remain frustrated at their lack of economic progress.Topics covered ...

Unlocking Income: A Comprehensive Guide to Investing in Covered Call ETFs

20 Mar 2024

Contributed by Lukas

How to use covered call and buy-write strategies to generate income while understanding the risks and having realistic return expectations.Topics cove...

How the Economy Really Works: Savings, Investing, Consuming and Market Distortions

13 Mar 2024

Contributed by Lukas

A primer on how the economic engine works through coordination between savers, investors, consumers, producers, governments and banks. How hoarding an...

Which Will Perform Better: Berkshire Hathaway or Utility Stocks?

06 Mar 2024

Contributed by Lukas

Berkshire Hathaway doesn't pay a dividend, its cash pile keeps growing, and Buffet says it's gotten too big to make acquisitions that can impact the c...

Lessons from Japan's 34 Years of Stock Market Underperformance

28 Feb 2024

Contributed by Lukas

Japan's stock market recently exceeded the all-time high first set in December 1989. That's 34 years of zero price appreciation for the stock market. ...

Unraveling the Truth About ETFs: Benefits, Analysis, and the Indexing Bubble Myth

21 Feb 2024

Contributed by Lukas

How the ETF market is changing, why ETFs should be your preferred investment vehicle, and how to analyze ETFs to generate better investment performanc...

Does Dividend Investing Still Work?

14 Feb 2024

Contributed by Lukas

Stocks that grow their dividends have outperformed non-dividend-paying stocks over the long-term, but not in the past 5, 10, and 20 years. Why are non...

Transforming Financial Regrets into Portfolio Gains: Five Strategies for Navigating Investment Emotions

07 Feb 2024

Contributed by Lukas

Humans are wired to feel regret. Here's how to learn from financial regret to become a better investor.Topics covered include:What cognitive biases ma...

More Ways to Lock in Higher Yields in Case Interest Rates Fall

31 Jan 2024

Contributed by Lukas

Professional investors and other market participants are lousy at forecasting interest rates. Here are three more options to lock in higher yields tod...

How To Lock In Higher Yields In Case Interest Rates Fall

24 Jan 2024

Contributed by Lukas

With cash yields expected to fall, here's how you can keep your portfolio income elevated by purchasing longer-term individual bonds and bullet ETFsTo...

Now Should You Buy Bitcoin? The Investment Case for the New Spot Bitcoin ETFs

17 Jan 2024

Contributed by Lukas

We explore reasons for buying Bitcoin using one of the new Bitcoin ETFs. We also consider the risks.Topics covered include:Why the SEC finally decided...

How Much Should Your Net Worth Grow Each Year?

10 Jan 2024

Contributed by Lukas

The intricate dance between profession, risk, lifestyle, and luck in determining how net worth grows.Topics covered include:The various factors that s...