Optimal Finance Daily Optimal Living Daily
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Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone.
Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of financial tips; it’s a daily companion that guides you towards financial freedom and savvy money management, all delivered with Diania's trademark enthusiasm and expertise.
Listen now, and become an OLD friend--your optimal life awaits...
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Cognitive Bias by The Mad Fientist on Financial Investments & Investing Risk vs. Reward
Episode 2725:
Explore the profound impact of cognitive biases on our decision-making processes, especially in high-stakes scenarios like financial investments. This episode, inspired by a Mad Fientist article, delves into everyday examples and psychological experiments that reveal our subconscious preferences for risk over certainty, influenced by how choices are framed.
Read along with the original article(s) here: https://www.madfientist.com/cognitive-bias/
Quotes to ponder:
"If the problem is framed as a loss, as it is in the island #1 scenario, we become risk-seeking."
"Your brain is useful when setting up an investment plan but it’s not useful when you execute that plan."
Episode references:
The Simple Path to Wealth by JL Collins: https://www.amazon.com/Simple-Path-Wealth-financial-independence/dp/1533667926
Predictably Irrational by Dan Ariely: https://www.amazon.com/Predictably-Irrational-Revised-Expanded-Decisions/dp/0061353248
You Are Not So Smart by David McRaney: https://www.amazon.com/You-Are-Not-So-Smart/dp/1592407366
Thinking, Fast and Slow by Daniel Kahneman: https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555
Sources of Power: How People Make Decisions by Gary Klein: https://www.amazon.com/Sources-Power-People-Make-Decisions/dp/0262611465 -
The First $100,000 Is The Hardest by J. Money of Budgets Are Sexy on Building Wealth & Investing
Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com.
Episode 2724:
J. Money shares his journey and insights on achieving the first $100,000 in net worth, a pivotal financial milestone. He emphasizes the overhaul of mindset and financial habits necessary to reach this goal and how this foundation sets the stage for further financial successes. Highlighting the importance of patience and perseverance, this episode provides actionable advice for anyone looking to improve their financial situation.
Read along with the original article(s) here: https://www.budgetsaresexy.com/the-first-100-thousand-is-the-hardest/
Quotes to ponder:
"You can’t make it to a million or a billion without first hitting $100,000, but even more than that - it requires a complete overhaul of both your money and your mindset."
"It took me 28 years to finally start paying attention."
"Once you’ve got your mind right it’s all a matter of pouring in the fuel and letting time (and sometimes luck) take over from there."
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Customer Reviews
Love the content, hate the advertising
As much as I love this podcast, I will stop listening until the current rotation of ads stop. I do not want to be told to “take a whiff of those pits and toes” first thing every morning. C’mon.
Content is great, introduced ads not so much
I like the OFD podcast. I’m one of those recently introduced to the show and am listening from the earliest available episodes, working my way chronologically to the present.
And I fully respect that they went from ‘ad-free free’ to ‘free with ads’ to monetize and pay for their efforts. Nothing wrong with honest capitalism. But I do resent when the old episodes (I’m only to the beginning of 2017 now nearly six years behind but catching up) are re-engineered. Podcasters may have agreements with sponsors or just decide to ‘update’ old episodes with the ad content, but it kills my library and listening. Now I have two versions of each episode (the smaller ad-free clean one I’ve already downloaded) and an unloaded version with the ads that will only play if I’m on wifi (immediately after the downloaded one).
In my curated library, I’d have to delete the show, redownload the newly-updated archive, and continue listening. Until the show runners decide to change out who their sponsorship is and re-re-engineer the archived shows and I’m stuck with the same issue again. Podcasters - it’s bad enough that Apple will only keep your library archive going back a few hundred episodes - but now any refresh of my library will cause duplication or failed indexes where show episodes once downloaded are no longer available. Yes, the fruit company is partly to blame, but can you find a way to NOT mess with prior episodes? Please?
Be more honest about episode repeats!
This show has a fair amount of good original content. However, I have noticed a lot more in the last year either (a) the podcast replays previously aired episodes (without mentioning this in the intro) or (b), airing very outdated podcasts some mentioning the Great Recession of 2008 going on, some still mentioning “while now in the middle of the pandemic” or stats and figures like “last year, in 2014”…
To not waste a listeners time, it would be nice if like other podcasts, they would mention if it was not a new episode or if first the time being played and it’s older, say “here is a new episode we haven’t featured from 2016”, etc. Otherwise I feel like I’m being played lol.
Thanks!