Was the 401(k) a Mistake?

Conventional financial advice around education, employment, and savings may be growing outdated in today's rapidly evolving economy. Why the Rich Are Getting Richer by Robert T. Kiyosaki examines how the wealthy utilize strategies—like capitalizing on debt and tax incentives—to build assets that generate income and appreciate over time, while the income gap widens for those relying on traditional paths.

The book also argues that practical financial experience offers more value than theoretical knowledge alone. It highlights how the rich continuously learn, refine strategies, and reinvest to grow their wealth—viewing investment obstacles as opportunities rather than risks to avoid.

Ensuring your financial security during retirement is no easy task. The Social Security system in the United States is complex, with a maze of rules and calculations that determine your eligibility and benefit amounts. In Get What's Yours, authors Laurence J. Kotlikoff, Philip Moeller, and Paul Solman guide you through the intricacies of Social Security.

They explain the various types of benefits available, including retirement income, spousal support, child benefits, and disability aid. The book also explores strategies to maximize your lifetime Social Security payouts, such as strategically timing when you file and understanding how your marital status impacts your benefits. With this comprehensive overview, you'll gain a thorough understanding of the Social Security system and how to navigate it effectively.

Jack Canfield struck gold as a co-author of the best-selling Chicken Soup for the Soul book series, but it took years for him to achieve success. In The Success Principles, he details 67 principles to help anyone achieve their goals and dreams, based on his study and interviews with hundreds of successful people. The basic formula for success is to identify what you want, know that you deserve to have it, and use the book’s principles to get you there.

The book's Principles include taking responsibility for your life, setting goals and visualizing success, facing your fears, forgiving others so you can move forward, asking for and graciously receiving feedback, and appreciating your successes.

Does thinking about your personal finances make your palms start to sweat? If so, you’re not alone. The sheer amount of information out there about managing your finances is overwhelming, especially for people in their 20s or 30s who are just starting their financial journeys. Ramit Sethi is a self-taught expert in personal finance whose goal is to help you cut through the noise of conflicting and overly technical financial advice, get past your own hang-ups around money, and take small steps toward a “rich life”—whatever that looks like for you.

In this summary, you’ll learn how to use credit cards wisely, choose the right bank accounts and investment accounts, plan out your spending, and ultimately create a financial system that grows your money automatically.

Conventional financial advice around education, employment, and savings may be growing outdated in today's rapidly evolving economy. Why the Rich Are Getting Richer by Robert T. Kiyosaki examines how the wealthy utilize strategies—like capitalizing on debt and tax incentives—to build assets that generate income and appreciate over time, while the income gap widens for those relying on traditional paths.

The book also argues that practical financial experience offers more value than theoretical knowledge alone. It highlights how the rich continuously learn, refine strategies, and reinvest to grow their wealth—viewing investment obstacles as opportunities rather than risks to avoid.

Robert Kiyosaki wants you to forget the traditional path from college to a good job to a stable retirement, because it doesn’t exist anymore. In his first follow-up to the international bestseller Rich Dad, Poor Dad, Kiyosaki implores you to make your money the way the rich do: by developing assets. Using the simple concept of “Cashflow Quadrants,” Kiyosaki teaches you which types of income lead to financial freedom, and which don’t.

Combining contrarian financial advice and the blunt persona that built his brand, Kiyosaki puts both your wallet and your mind on the path to wealth. In our guide, we compare Kiyosaki’s advice with conventional wisdom and expand on his tips for succeeding in business and investing.

In Episode 324 of the PBD Podcast, join Patrick Bet-David and his articulate panelists - Vincent Oshana, Tom Ellsworth, and Adam Sosnick - as they dissect a multitude of pressing issues spanning the fabric of current American life. The quartet probes the fraying strands of Americans' financial security as rising debts and hardships ripple through a volatile economy, shadowing future political landscapes and voting behaviors. They scrutinize the daunting housing affordability crisis, balancing the pros and cons of renting versus buying while advocating for market corrections to tackle the housing supply-demand imbalance.

The episode pivots to the dynamic world of media, forecasting the seismic options ahead for Joe Rogan amidst Spotify's maneuvers and his contract's culmination, while teasing insights from Bet-David's new book "Choose Your Enemies Wisely," to draw striking parallels with today's U.S. political rivalries. The panel does not shy away from the impending GOP presidential debate in Miami, sifting through strategies, predictions, and potential upheavals poised to shape the nation's political journey. They also navigate the ebb and flow of evolving workplace dynamics in a post-pandemic reality, alongside cultural and economic implications of extended workweeks, as seen in India's ambitious pursuits.

In The Deficit Myth, economist Stephanie Kelton contends that nearly all of the public discourse about national debts and deficits gets the facts entirely wrong. A leading proponent of Modern Monetary Theory (MMT), Kelton champions more aggressive deficit spending by arguing that the U.S. government could finance any program it wishes to create. She advocates a more holistic view of the economy—contending that we ought to focus on poverty reduction, combating climate change, and building a more just and equitable society as the true measures of economic success, rather than focusing solely on the narrow budgetary impacts of legislation.

This guide adds perspective from other economic experts—including voices from outside the MMT community who question Kelton’s theories—in order to present a more nuanced and balanced view of the economic ideas in the book.

The theories of traditional economics—which assume that consumers act rationally and that financial markets reflect securities’ true values—rest on a faulty foundation, according to behavioral economist Richard H. Thaler. In his 2016 book, Misbehaving, Thaler instead argues that consumers frequently behave irrationally, making sub-optimal economic decisions, and that markets may price securities incorrectly. To show as much, he traces the historical development of behavioral economics, which explores how consumers actually behave in economic situations, not just how they should behave.

We’ll discuss the foundations of traditional economics and Thaler’s arguments against them. We’ll examine examples from behavioral economics that undermine the premise that consumers always optimize their budget, and we’ll assess arguments that challenge the claim that financial assets are always accurately priced. To conclude, we’ll discuss real-world cases of behavioral economics helping consumers make better decisions. We’ll also discuss counterarguments from traditional economists and consider updates to Thaler’s arguments since Misbehaving’s publication.

Every day we face choices—what to order at a restaurant, what clothes to buy at a store, what show to stream after work. We make these choices without realizing how the way they’re presented affects us. If grocery stores didn’t stock candy at the register, would we eat less of it? If we had to “opt out” of being organ donors rather than “opt in,” would the organ donor pool grow?

In Nudge, Nobel Prize-winning economist Richard Thaler and legal scholar Cass Sunstein examine how the way choices are designed and structured can “nudge” us toward better decisions. In this guide, you’ll learn why people make bad investment choices and how Thaler and Sunstein propose to revitalize the institution of marriage (by abolishing it). You’ll also find commentary on the psychological research underlying Nudge’s concepts as well as more recent data that sheds new light on Thaler and Sunstein’s findings.