Episode 26: Personal Finance 102 (Savings)
Andy and Aaron discuss emergency savings, the “sleep test” framework, what an emergency could mean, human inertia, retirement savings, “short term pain for long term gain,” target retirement funds (the only fund you’ll ever need), guilt vs. shame, and more.
Resources/Links:
Personal Finance 101 episode (NOT necessary to listen to first)
The Psychology of Money by Morgan Housel
Michael Kitces: Buying Happiness & Well-Being With Cash-On-Hand Reserves
Animal Spirits podcast: Everything You Need to Know About Retirement
How to Vanguard (step-by-step instructions for opening a Vanguard account and automating contributions to a target retirement fund)
Brené Brown (website) → podcast