Dr. Bryan Foltice Behavioral Finance Podcast

Dr. Bryan Foltice
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  • Updated Weekly

Welcome to the Bryan Foltice Behavioral Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior. Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence. So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.

  1. 1d ago ·  Video

    Real Life Simple Two-Bucket Retirement Withdrawal Strategy Discussion

    Question, Comment? Send it Here! Retirement Withdrawal Rates in Real Life: Bryan Foltice’s Two-Bucket Approach Beyond the 4% Rule In this episode of the Bryan Foltice Behavioral Finance Podcast, we discuss how common retirement withdrawal rules hold up in real life and why anything above 4% can be dangerous due to sequence-of-returns risk and compounding inflation.  We explore the “decumulation paradox,” where lifelong savers struggle to spend after retirement, and we frame retirement as a flexible transition rather than a hard stop at 65. We then break down a practical two-bucket strategy: a conservative 3% “ground floor” built around bare-bones expenses (often helped by paying off the house and supplementing with Social Security or part-time work), plus a “bonus bucket” that unlocks additional spending once the portfolio grows beyond a threshold (e.g., 1.5x). We also discuss trade-offs between thresholds, leaving an inheritance, and spending earlier while healthy. The full working paper can be downloaded here:  Is Less More? Improving on the "Fixed 4%" Rule for Retirement Incomehttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=7461338 Chapters 00:00 Podcast Intro 00:26 Why Revisit Withdrawal Rules 01:19 Rethinking Retirement Purpose 02:50 The 4 Percent Rule Problem 04:48 Why Higher Rates Fail 05:40 Sequence Risk and Inflation 07:19 Goal of the Study 08:07 Two Bucket Strategy Basics 10:11 Bonus Bucket Spending Freedom 11:44 Thresholds and All Out Approach 13:37 Inheritance and Living More 14:28 Q and A and Wrap Up 15:57 Outro and Subscribe Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  2. Sep 25 ·  Video

    Beyond the 4% Retirement Rule: Introducing Alternative "Flexible 3" Withdrawal Options

    Question, Comment? Send it Here! Retirement Withdrawals Beyond the 4% Rule: Bryan Foltice on Flexible, Inflation-Adjusted Strategies In this episode of the Bryan Foltice Behavioral Finance Podcast, we continue to explore why fixed withdrawal rate strategies like the 4% rule can fail over longer 40–50 year retirements, creating a “decumulation paradox” where retirees either run out of money or leave far too much behind.  Today, we discuss proposed alternatives, including Guyton’s Guardrails and a complex optimization approach, and then focus on a simpler two-bucket framework: a “boring” 3% base for necessities plus an “all-out” flexible rule that spends portfolio value above a threshold (often 1.5x the initial amount).  We show how inflation-adjusting the threshold produces zero historical failure rates across 30–50 years with higher average income, and we also review Monte Carlo results showing higher failure probabilities overall but strong relative improvements in income and failure reduction versus the 4% rule. The full working paper can be downloaded here:  Is Less More? Improving on the "Fixed 4%" Rule for Retirement Incomehttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=7461338 Chapters 00:00 Podcast Welcome 00:26 Fixed Withdrawal Dilemma 01:05 Why Fixed Rates Fail 02:49 Guardrails Too Complex 05:06 Other Alternatives Reviewed 06:43 Two Bucket 3% Base 08:23 All Out Threshold Rule 10:36 When Horizons Get Longer 11:25 Inflation Adjusted Threshold 14:28 Divide Extra By Years 17:58 Monte Carlo Reality Check 21:00 How To Use With Clients 22:25 Wrap Up And Next Steps Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  3. Sep 18 ·  Video

    It's Time to Reconsider the 4% Rule and Stop Even Discussing 6% or 8% Fixed Rules!!!

    Question, Comment? Send it Here! Does the 4% Rule Still Work? Inflation, 50-Year Retirements, and What the Data Really Says In this episode, we dive into the fixed retirement withdrawal rate debate and why the popular 4% rule deserves a closer look. We discuss how the rule originated from Bill Bengen’s 1994 research, then walk through Bryan and Steve Dolvin’s analysis using U.S. data from 1928–2024 across stock/bond allocations and 30–50 year horizons.  We compare results with and without inflation adjustments, showing that outcomes change dramatically once inflation is included: the 4% rule fails 2.94% of the time over 30 years, 10% over 40 years, and 18.75% over 50 years, while higher rates like 6–8% show very high to guaranteed failure over long horizons.  We also discuss a key overlooked issue—how often portfolios leave large amounts unspent—and preview a move toward simpler “flexible” withdrawal strategies in the next episode. The full working paper can be downloaded here:  Is Less More? Improving on the "Fixed 4%" Rule for Retirement Incomehttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=7461338 00:00 Four Percent Rule Setup 02:09 Origins and Assumptions 05:22 Research Data and Method 06:58 No Inflation Results 09:45 Why Inflation Matters 14:07 Inflation Adjusted Failures 16:03 Money Left Over Problem 18:10 Asset Allocation Deep Dive 19:29 Flexible Withdrawal Teaser 20:27 Wrap Up and Next Episode Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  4. Sep 11 ·  Video

    Q&A Time: The Latte Effect, Travel Sports Costs, SpaceX Valuation & Sports Hats

    Question, Comment? Send it Here! In this Q&A episode, we explore four listener questions with Bryan Foltice, starting with whether he teaches the “latte effect,” where he explains he focuses more on big financial decisions like housing and car ownership while still discussing how people often underestimate spending on eating out and DoorDash and how emotional spending can add up.  We then discuss the realities of youth travel sports, including escalating travel demands, “stay-to-play” tournaments, and the significant annual costs families face.  Third, we cover why Bryan has not invested in SpaceX, emphasizing that a great company can still be a poor buy if the valuation is too high and future growth is already priced in.  Finally, we explain Bryan’s hat choices, tied to stadium visits and longstanding sports allegiances rooted in Detroit and German soccer. 00:00 Welcome and Setup 00:33 Latte Effect Debate 04:04 Tracking Spending Habits 05:18 Travel Sports Money Trap 10:55 SpaceX Valuation Check 13:54 Why I Wear Hats 17:16 Final Thoughts and Outro Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  5. Sep 4 ·  Video

    Behavioral-Based Financial Education: It's Way Easier Than You Think

    Question, Comment? Send it Here! Behavioral-Based Financial Education: Bryan Foltice’s 6-Week One-Credit Class That Changes Money Habits In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore the practical, behavioral-based interventions behind the encouraging results from Bryan’s one-credit and three-credit personal finance classes. We discuss how the one-credit course is structured into six weekly meetings that move quickly from personal money memories and mindset-setting to paychecks (taxes, insurance, and employer retirement match), then into monthly financial planning, expense reflection, and either student-loan payoff strategies (snowball vs. avalanche) or net worth tracking and SMART goals. We also cover a high-level, engaging introduction to investing, risk/reward, diversification, and retirement planning using simple asset-allocation rules and ETFs, ending with a “Foltice Lifetime Guarantee” to support students as lifelong financial learners. 00:00 Podcast Welcome 00:26 Why Behavioral Education Works 02:23 Course Structure Overview 03:52 Money Memories Mindset 07:03 Paychecks Taxes Reality 10:33 Build Your Monthly Plan 14:25 Debt Payoff Or Net Worth 17:10 Investing Risk Reward Basics 18:43 Retirement Plan Asset Mix 23:08 Commencement Lifetime Guarantee 24:49 Keep It Simple Repeat 26:20 Wrap Up And Next Steps 27:05 Outro Subscribe Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  6. Aug 28 ·  Video

    Teaching Personal Finance: Less Equals More?!?!

    Question, Comment? Send it Here! 1-Credit vs 3-Credit Personal Finance: What Actually Changes Student Behavior? | Bryan Foltice In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore post-class survey results comparing a one-credit Financial Well-Being course with a three-credit Personal Finance course at Butler, using 102 student responses across business/non-business majors and online vs face-to-face formats.  We discuss high engagement and applicability in both courses, strong increases in preparedness, and widespread intent to change financial behaviors immediately (84% in the one-credit course vs 80% in the three-credit course), along with a surprising edge in reported confidence for the one-credit course (62% vs 48%). We examine why “less may be more,” emphasizing stripped-down, actionable, behavior-based teaching over information-heavy financial literacy, noting research that knowledge alone rarely shifts behavior, and we reflect on improving course design, especially making the three-credit class more engaging and practical. 00:00 Podcast Welcome 00:26 New Course Experiment 03:01 Survey Goals 04:30 Who Took The Classes 05:38 Engagement To Behavior 07:33 Confidence Surprise 09:05 Major Differences 10:23 Online Class Results 11:33 Why Less Is More 13:39 Behavioral Finance Evidence 17:22 Improving The Curriculum 20:05 Final Takeaways 21:32 Outro And Subscribe Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  7. Aug 21 ·  Video

    Algorithm Aversion: Fear of the Flawed Machine

    Question, Comment? Send it Here! Using AI Effectively: Pairing the Machine With Your Own Brainpower In this episode, Bryan Foltice explores how AI can be used really effectively only when it’s coupled with our own brain power. We discuss how conversations about AI often lead back to this core idea, and why it helps to name and formalize a continuum for where we and others fall in our attitudes toward AI. We explore the value of understanding prior research on these perspectives, building awareness of where others might be—like blind rejection—and how we can help move toward a more skeptical, exploratory stance that still involves dipping a toe into using the technology. 00:00 AI Needs Brainpower 00:39 Mapping Adoption Spectrum 00:46 From Rejection to Skepticism 00:59 Putting AI to Work 01:01 Closing Thoughts Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

  8. Aug 14 ·  Video

    Automation Bias: The Brain’s Trust in Technology

    Question, Comment? Send it Here! Automation Bias in Investing: When to Trust (and Challenge) AI | Bryan Foltice Behavioral Finance Podcast In this episode of the Bryan Foltice Behavioral Finance Podcast, we explore automation bias—the tendency to use technology as a mental shortcut in place of vigilant information seeking and processing—using examples like GPS routes and copying ChatGPT answers without thinking. We discuss early research from the 1990s on pilots and automated aircraft, outlining two error types: omission errors (failing to act when automation misses a problem) and commission errors (following a bad automated recommendation despite contradictory information). We connect automation bias to Type 1 vs. Type 2 thinking, arguing that as tasks become more complex and consequences rise—especially in investing, retirement, tax, and estate planning—we need a middle ground: use AI’s benefits while actively verifying, prompting, and challenging outputs. We close by previewing next episode’s topic: algorithm aversion. 00:00 Podcast Welcome 00:26 Automation Bias Defined 02:19 Origins in Aviation 03:47 Omission vs Commission 05:39 Why We Love Automation 08:04 GPS Jog Gone Wrong 11:35 Type Two Thinking Trigger 13:07 Finding the AI Middle Ground 16:08 Prompting and Staying Critical 17:57 Algorithm Aversion Teaser 19:37 Wrap Up and Next Episode Support the show Subscribe to our Behavioral Finance Newsletter: https://www.moneystrong.net/behavioral-newsletter Bryan Foltice Personal Website - www.bryanfoltice.com Money Strong Website - www.moneystrong.net Instagram - www.instagram.com/dr.bryanfoltice Linkedin - https://www.linkedin.com/in/bryanfoltice Disclaimer: www.bryanfoltice.com/cv

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About

Welcome to the Bryan Foltice Behavioral Finance Podcast, where we dive deep into the fascinating intersection of financial decision-making and human behavior. Your host, Dr. Bryan Foltice, aims to embark on this journey with you to explore the quirks, biases, and psychological factors that shape our financial choices. From understanding why we buy high and sell low, to uncovering the emotional drivers behind our investment strategies, each episode will uncover valuable insights to help you navigate the complex world of finance with clarity and confidence. So, please join us as we unravel the mysteries of personal and behavioral finance and unlock the secrets to making smarter, more informed decisions with your money.

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