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Financial Decoder

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Cognitive and emotional biases can have a big impact on your financial life. Each episode of Financial Decoder looks closely at one financial decision--and the biases that might cloud your judgment and cost you money. Host Mark Riepe, head of the Schwab Center for Financial Research, decodes the behavioral and psychological factors at play and shares strategies designed to improve the way you approach financial crossroads. Other experts join Mark to provide their unique perspective on behavioral economics, portfolio management, retirement planning, personal finance and more. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.

Cognitive and emotional biases can have a big impact on your financial life. Each episode of Financial Decoder looks closely at one financial decision--and the biases that might cloud your judgment and cost you money. Host Mark Riepe, head of the Schwab Center for Financial Research, decodes the behavioral and psychological factors at play and shares strategies designed to improve the way you approach financial crossroads. Other experts join Mark to provide their unique perspective on behavioral economics, portfolio management, retirement planning, personal finance and more. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.
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Location:

United States

Description:

Cognitive and emotional biases can have a big impact on your financial life. Each episode of Financial Decoder looks closely at one financial decision--and the biases that might cloud your judgment and cost you money. Host Mark Riepe, head of the Schwab Center for Financial Research, decodes the behavioral and psychological factors at play and shares strategies designed to improve the way you approach financial crossroads. Other experts join Mark to provide their unique perspective on behavioral economics, portfolio management, retirement planning, personal finance and more. Podcasts are for informational purposes only. This channel is not monitored by Charles Schwab. Please visit schwab.com/contactus for contact options.

Language:

English

Contact:

(512) 684-3533


Episodes

How Do You Get Started on Your Financial To-Do List?

11/11/2019
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What are your financial goals? What are your biggest concerns? Do you have a concrete plan to address your concerns and achieve your goals? In this episode, Mark talks with Cynthia Loh, vice president of digital advice and innovation at Schwab. Together they look at some proprietary empirical data involving the goals—and the biggest concerns—of real investors in the hopes that these lists might spur some thinking about your own situation and what matters most to you. You can learn more...

Duration:00:18:29

How Much Should You Borrow?

10/28/2019
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In today’s world virtually everyone participates in the economy as either a borrower or a lender, and most people are both. If you’ve ever put money in a bank, then you’re a lender. If you’ve ever used a credit card, then you’re a borrower. In this episode, Mark Riepe talks with Carrie Schwab-Pomerantz about the liability side of your personal balance sheet—debt. Of course, not all debts are the same.Among the topics Mark and Carrie discuss are “good” debt versus “bad” debt, paying off debt...

Duration:00:22:34

How Did Chuck Schwab Disrupt an Industry? EXCLUSIVE INTERVIEW

10/14/2019
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Charles Schwab & Co. founder and Chairman of the Board Chuck Schwab discusses the decisions that led him to create a revolutionary business model for the brokerage industry. Chuck talks about his decision to start a business, his difficulties raising capital, and even how he convinced his wife to mortgage the house to support his upstart company. He and Mark also discuss the 1983 sale of the company to Bank of America, how he bought the company back—and how Chuck framed both decisions to his...

Duration:00:24:00

“Which Biases Should You Protect Against?”

9/30/2019
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Which generation is more prone to herding—millennials or Generation X? Should anchoring bias worry Baby Boomers or younger investors more? In this episode, Mark Riepe is joined by Omar Aguilar, chief investment officer for equities at Charles Schwab Investment Management and an expert in behavioral finance. Mark and Omar discuss the results of a survey that identified the biases most prevalent among baby boomers, Gen X, and millennials. This study Journal of Financial and Quantitative...

Duration:00:21:26

Should You Pay Attention to the News Out of Washington?

9/16/2019
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The financial services industry is heavily regulated. That means the politicians who write the laws and the regulators who execute those laws shape the environment in which individual investors make their decisions. In this episode, Mark Riepe is joined by Mike Townsend, vice president for legislative and regulatory affairs at Schwab. Townsend is also the host of Schwab’s newest podcast, WashingtonWise Investor. Among other things, Mark and Mike discuss how politicians use certain cognitive...

Duration:00:31:55

Should You Be More Active With Your Portfolio?

6/17/2019
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Trading is a crucible of emotions and analysis. During volatile markets and periods of economic change, it is common for regular investors to ask whether they should be more active with their portfolios. In this episode, Mark Riepe is joined by Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. Mark and Randy review a list of biases that have an impact when you’re making trading decisions, and then they discuss techniques that can blunt...

Duration:00:26:29

Do You Really Need an Estate Plan?

6/3/2019
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Discussing what will happen to your children and your assets after you die might not sound like the most pleasant task. Is that why so many people don’t have wills or estate plans? Mark talks with Colleen O’Brien about what’s actually in an estate plan and how you can get started creating one. NBER working paperthis article from the Journal of Risk and Uncertainty. Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen. Financial Decoder is an original podcast...

Duration:00:17:25

When Should You Retire?

5/20/2019
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After saving up your whole life, is it finally the right time to retire? It’s a complex decision with a lot of variables. In this episode, Mark Riepe examines how affective forecasting and optimism bias could hinder you from making the best decision. Mark talks with Robert Aruldoss, a senior research analyst for financial planning at the Schwab Center for Financial Research, about how much savings you should have, when you should sign up for Medicare, when you should take Social Security,...

Duration:00:29:33

How Can You Catch Up on Retirement Savings?

5/6/2019
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Saving for retirement can seem overwhelming—especially if you are 50 years old and haven’t saved nearly enough. Fortunately there are some provisions in the tax code that allow you to make additional contributions to tax-advantaged accounts. In this episode, Mark Riepe examines some of those provisions as well as a few biases that might actually help you get back on track. Mark is joined by Hayden Adams, director of tax and financial planning for the Schwab Center for Financial Research....

Duration:00:23:46

Should You Rethink the Risk in Your Portfolio?

4/22/2019
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Your willingness and ability to take on risk in your portfolio has a significant effect on how your portfolio performs. However, perceptions of risk can be skewed by overconfidence, affective forecasting errors and other biases. In this episode, Mark Riepe explains how people’s tolerance for risk differs on a cognitive and emotional level, as well as how “risk capacity” is a more objective matter. Tobin McDaniel, Schwab’s SVP of Digital Advice and Innovation, joins Mark to discuss how...

Duration:00:21:20

Should You Diversify Differently?

4/8/2019
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Two corrections for the broad market in 2018, coupled with bear markets in various segments of the market have many investors facing a decision: do I have the right level of diversification in my portfolio or do I need to make some changes? It’s likely that many people aren’t diversified as well as they should be. In this episode, Mark Riepe breaks down the ways your cognitive biases might be preventing you from building a truly diversified portfolio. Joining Mark is Omar Aguilar from...

Duration:00:38:09

What Should You Do with Your 401(k)?

2/25/2019
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A recent survey of people participating in 401(k) plans revealed that 62% of them expect their 401(k) to be their biggest source of income in retirement. But if these accounts are so critical to retirement, why are they so often neglected? In this episode Mark Riepe talks with experts from the world of retirement plan services: Catherine Golladay and Nathan Voris. They discuss saving strategies and the major stumbling blocks that can prevent you from maximizing your 401(k). You can read...

Duration:00:29:08

How Much Risk Should You Take with Bonds?

2/11/2019
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Like any investment, bonds do come with their own set of risks. How can you best evaluate these different risks? It’s easy to be distracted by stories or personal experiences that aren’t necessarily representative of the current situation. In this episode, Mark Riepe talks with Kathy Jones, Schwab’s chief fixed income strategist, about the specific risks related to bond investing and how to objectively evaluate them. You can read more about how people’s experiences living through tough...

Duration:00:30:29

How Do You Evaluate an ETF?

1/28/2019
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In the U.S. alone, ETFs now account for more than $3 trillion in assets. When deciding whether or not to invest in a particular fund, what are the most important factors to consider? Are there psychological biases preventing investors from making the best decisions? In this episode, Mark Riepe talks with Michael Iachini about the ways investors can evaluate the fees, cost structure and underlying indexes of ETFs. Read more from Michael Iachini on Insights & Ideas and in the Schwab client...

Duration:00:20:01

How Can You Reach Your Financial Goals?

1/14/2019
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We all have goals. Juggling multiple goals in a world of finite time and money can be tough. Whatever your goal in life is, can you name the steps you need to take in order to actually achieve it? There’s clear evidence that the best way to achieve your financial goals is by starting with a plan. Unfortunately, the majority of people do not have a written plan. Why is that? In this episode, Mark Riepe and guest Chris Thom discuss strategies to overcome some of the common mental barriers to...

Duration:00:30:20

How Can You Save More?

12/17/2018
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People are hardwired to value earning money more than saving it. A recent report shows that 26% of all workers have saved less than $1,000 for retirement and 64% have saved less than $100,000. In this episode, Mark Riepe talks with Carrie Schwab-Pomerantz about ways to overcome some common mental blocks to saving more—and to put savings on autopilot. Employee Benefits Research Institute.“How Much Should People Save?Schwab’s Savings Calculator Subscribe to Financial Decoder for free on Apple...

Duration:00:21:23

Does Your Portfolio Need Adjusting?

12/3/2018
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What’s an acceptable level of performance for your portfolio? Before you can answer that question, you first have to be sure you’re calculating your returns correctly. Even professionals get it wrong sometimes. In this episode Mark examines how the availability heuristic and confirmation bias could affect your ability to make the best decisions with your portfolio. this article.this story in the LA Times"Why Inexperienced Investors Do Not Learn: They Do Not Know Their Past Portfolio...

Duration:00:13:05

When Should You Take Social Security?

11/19/2018
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In this episode of Financial Decoder, host Mark Riepe examines one of the most critical retirement decisions: When should you take Social Security? When you claim too early, your benefits are reduced, and yet a large percentage of people claim at the earliest possible age. What’s driving this decision? Mark looks at three psychological phenomena that could impact the decision: loss aversion, present bias and reference points. Joining Mark in the discussion is Rob Williams, Vice President of...

Duration:00:23:04

What Should You Sell?

11/5/2018
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In this episode of Financial Decoder, host Mark Riepe, head of the Schwab Center for Financial Research, examines the psychological forces that impact a common investing decision: What should you sell? Investors often spend a lot of time and energy trying to decide which investments are the best to buy. But what about when it is time to sell? In this episode of Financial Decoder, Mark shares what the research tells us about the psychology of the sell decision. Choosing to keep or to sell a...

Duration:00:19:41

Introducing Financial Decoder

10/29/2018
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In this new podcast, host Mark Riepe, head of the Schwab Center for Financial Research, unpacks important financial decisions and the biases that may prevent you from choosing wisely. Subscribe for free today to get the first episode when it launches November 5. Financial Decoder is an original podcast from Charles Schwab. Important Disclosures Information on this site is for general informational purposes only and should not be considered individualized recommendations or personalized...

Duration:00:02:18