Couverture de Stuff About Money They Didn't Teach You In School

Stuff About Money They Didn't Teach You In School

Stuff About Money They Didn't Teach You In School

De : Erik Garcia CFP® & Xavier Angel CFP®
Écouter gratuitement

À propos de ce contenu audio

 They might not have taught you the stuff about money you needed to know to build wealth, but Xavier and Erik are ready to take you back to school. When it comes to money, it is never too late to start learning.2021 Economie Finances privées
Épisodes
  • Episode 107: 3 Behaviors That Protect Your Wealth: The Disciplines That Keep You From Losing What You’ve Built

    Episode 107: 3 Behaviors That Protect Your Wealth: The Disciplines That Keep You From Losing What You’ve Built
    Apr 21 2026
    In the last episode, we broke down the behaviors that quietly destroy wealth—emotional decisions, lifestyle creep, and overconfidence. But avoiding mistakes is only half the equation. In this episode, Erik Garcia, CFP®, and Xavier Angel, CFP®, flip the conversation and focus on what actually protects wealth once you start building it. Because wealth isn’t just created—it has to be preserved with intention. We walk through three foundational disciplines: living below your means to create margin, reinvesting instead of extracting to keep your money working, and avoiding catastrophic mistakes that can undo years of progress. Grounded in behavioral finance and real-world experience, this episode shows why wealth is often less about big wins—and more about consistently doing the right things over time. Episode Highlights: Erik explains the behavioral economics foundation of today's episode, referencing Richard Thaler's book "Misbehaving" to highlight how humans often act irrationally in financial decision-making. (04:14) Xavier explains how building financial margin is what creates the space to save, invest, and pursue what matters most. (07:14) Erik shares the single most consistent pattern across people who successfully build wealth: they spend less than they earn and make building margin their priority. (10:10) Xavier discusses the second behavior, reinvesting instead of extracting, explaining that wealth grows when money is kept in the system and put back to work rather than pulled out early. (13:44) Erik explains the third behavior, avoiding catastrophic mistakes, using a golf analogy to share why minimizing financial damage matters more than chasing perfect results. (19:08) Erik discusses specific strategies for avoiding catastrophic financial mistakes: managing risk at the right level, maintaining sufficient liquidity, and diversifying rather than concentrating in speculative assets. (22:04) Xavier shares a sharp contrast between wealth lost and wealth built, explaining that losses often trace back to one risky decision while lasting wealth comes from thousands of small, consistent good ones. (25:25) Key Quotes: “When building wealth, the goal isn't to look wealthy, right? The goal is to be wealthy. I can be wealthy and not own the most expensive clothes or the biggest house or the most expensive car.” - Xavier Angel, CFP® “This is the common thread in financially successful people. It's what allows everything else to work. Without financial margin, there's nothing to invest. Nothing to save, no money to compound.” - Erik Garcia, CFP® “Reinvesting, not spending your investments involves an intentional, purposeful, conscious decision to choose the future over today. I'm saying no to myself today because I'm saying yes to something tomorrow” - Erik Garcia, CFP® Resources Mentioned: Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
    Afficher plus Afficher moins
    28 min
  • Episode 106: Before You Build Wealth… Stop Destroying It: The 3 Behaviors That Sabotage Your Financial Future (Part 1 of 4)

    Episode 106: Before You Build Wealth… Stop Destroying It: The 3 Behaviors That Sabotage Your Financial Future (Part 1 of 4)
    Apr 7 2026
    Before you can build wealth, you have to stop destroying it. Nobel Prize-winning economist Richard Thaler said it best: “People don’t act rationally.” And when it comes to money, that shows up in ways that quietly cost us more than we realize. In this episode, Erik Garcia, CFP®, and Xavier Angel, CFP®, break down three wealth-destroying behaviors—emotional decisions, lifestyle creep, and overconfidence. These aren’t knowledge problems—they’re behavior problems. And over time, they compound in the wrong direction. This is Part 1 of a 4-part series to help you stop losing… and start building. Episode Highlights: Erik discusses that behavior, not market drops, is the biggest obstacle to building wealth, grounding the discussion in Richard Thaler's Nobel Prize-winning behavioral finance research. (02:56) Erik shares about a client who moved to cash during market volatility and ended up as the only negative portfolio that year, using it to show how emotional reactions impact returns. (06:39) Xavier explains lifestyle creep and how spending that rises faster than income eliminates the margin needed to build wealth. (10:51) Xavier mentions that inflation, not lifestyle choices, is forcing some listeners into tighter margins and asks what to do when spending rises without any upgrade in lifestyle. (15:17) Erik introduces overconfidence as the third wealth-killing behavior, noting people consistently overestimate their ability to time markets and spot opportunities. (18:21) Xavier connects bad financial behaviors to generational patterns, pointing out that children observe and absorb those habits into their own lives. (24:03) Erik closes with the heart of their practice philosophy: understanding how people think about money is just as important as knowing how to grow it. (26:26) Key Quotes: “You don't need to save as much today as you were yesterday because you can always come back and reevaluate it at a different time when the season is over and begin increasing those savings at a later date.” - Xavier Angel, CFP®, “The best way for us to help you be successful is to understand how you think about money.” - Erik Garcia, CFP® Resources Mentioned: Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
    Afficher plus Afficher moins
    29 min
  • Episode 105: Beyond the Salary: Real Money Decisions for New Pharmacists

    Episode 105: Beyond the Salary: Real Money Decisions for New Pharmacists
    Mar 26 2026
    Landing that first job feels like the finish line, but for most young professionals, it is really just the beginning. In this episode, Xavier Angel, CFP®, ChFC®, CLTC®, sits down with Christopher Bland, PharmD, FCCP, FIDSA, BCPS, Albert W. Jowdy Professor in Pharmacy Care at the University of Georgia College of Pharmacy, to unpack the real-world financial questions that pharmacists and other graduates face early in their careers. From understanding compensation packages to negotiating pay, evaluating retirement benefits, and using side income strategically, this conversation helps listeners look beyond the headline salary number and make more informed financial decisions from day one. The episode also dives into one of the biggest mindset shifts young earners need to make: high income does not equal wealth. Chris and Xavier discuss how lifestyle inflation, student debt, and poor planning can quietly eat away at even a strong paycheck, while time, discipline, and consistent investing can build real financial freedom over time. It’s a practical, honest conversation designed to help young professionals turn early career income into long-term opportunity. Episode Highlights: Christopher shares the one financial lesson he wished he had fully embraced coming out of school: the more time money has to compound, the more profound the long-term impact. (04:00) Christopher breaks down salary versus hourly pay for new pharmacists, noting how hourly work creates flexibility to earn overtime, shift differentials, and supplemental income. (09:07) Christopher recounts landing his first job at the lowest pay tier and explains why the beginning of a career is the most powerful moment to negotiate compensation. (14:54) Christopher encourages students to lean on faculty and mentors for career opportunities, sharing how he connects students with prospects through his own network. (20:09) Xavier explains the difference between Traditional and Roth 401k contributions and stresses the importance of adding a beneficiary to retirement accounts from day one. (25:52) Christopher uses his son's first paycheck experience to illustrate why new earners need an automated plan for their money from the start. (31:32) Christopher outlines three practical steps for young pharmacists: leverage time for investing, negotiate confidently, and evaluate every aspect of a job beyond salary. (38:26) Key Quotes: “As you are young in your career, be developing skills. Seek out these opportunities, network, because then things will begin to flow to you, especially in years, like three to five.” - Christopher Bland, PharmD, FCCP, FIDSA, BCPS “No matter what degree of money you're making, if you have a plan, you're automatically giving yourself a raise.” - Christopher Bland, PharmD, FCCP, FIDSA, BCPS “I want healthcare professionals, pharmacists, to really take ownership of this topic. We work too hard. You've gone to school for too long, to not have a plan for financial freedom and wealth long term.” - Christopher Bland, PharmD, FCCP, FIDSA, BCPS Resources Mentioned: Christopher Bland, PharmD, FCCP, FIDSA, BCPS University of Georgia College of Pharmacy Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
    Afficher plus Afficher moins
    42 min
Aucun commentaire pour le moment