Investing in Your Financial Literacy

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Investing in your own financial literacy might be one of the best investments that you can make. If you’re watching my videos I’m probably preaching to the choir, but around two-thirds of adults worldwide are financially illiterate. Even in Canada, one of the most financially literate countries in the world, about a third of the population is financially illiterate. Financial literacy is broadly defined as peoples’ ability to process economic information and make informed decisions about financial planning, wealth accumulation, debt, and pensions.
Referenced in this video:
- Optimal Financial Knowledge and Wealth Inequality: repository.upenn.edu/cgi/view...
- FINANCIAL LITERACY, RETIREMENT PLANNING AND HOUSEHOLD WEALTH: gflec.org/wp-content/uploads/...
- Financial literacy and stock market participation: www.sciencedirect.com/science...
- MEASURING THE FINANCIAL SOPHISTICATION OF HOUSEHOLDS: www.nber.org/system/files/wor...
- What Do the Portfolios of Individual Investors Reveal About the Cross-Section of Equity Returns?:papers.ssrn.com/sol3/papers.c...
- Investor Sophistication and the Home Bias, Diversification, and Employer Stock Puzzles: www-personal.umich.edu/~mkimba...
- Presidential Address: The Cost of Active Investing: onlinelibrary.wiley.com/doi/a...
- The Economic Importance of Financial Literacy: Theory and Evidence: gflec.org/wp-content/uploads/...
- Debt literacy, financial experiences, and overindebtedness: www.cambridge.org/core/journa...
- Investment Literacy, Overconfidence and Cryptocurrency Investment: papers.ssrn.com/sol3/papers.c...
- THE CAUSES AND CONSEQUENCES OF FINANCIAL FRAUD AMONG OLDER AMERICANS: crr.bc.edu/wp-content/uploads...
- Financial literacy and fraud detection: www.tandfonline.com/doi/abs/1...
- Individual differences in susceptibility to financial bullshit: www.sciencedirect.com/science...
- Measuring financial well-being: files.consumerfinance.gov/f/2...
- Financial Well-Being of the Millennial Generation: An In-Depth Analysis of its Drivers and Implications: gflec.org/wp-content/uploads/...
Bitcoin Awareness, Ownership and Use: 2016-20: www.bankofcanada.ca/wp-conten...
FINANCIAL LITERACY AND RETIREMENT PLANNING IN THE UNITED STATES: www.nber.org/system/files/wor...
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Опубликовано:

17 окт 2022

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Комментарии : 216

@health_and_finance Год назад

You have had the most influence on my financial literacy.

@dimitrakiriakopoulou6241 Год назад

not the real ben it is a scam watch out

@davec3974 Год назад

Mine too.

@jellovendigar Год назад

Me too

@Luke_Swanson_ Год назад

Same for me!

@petergyuros Год назад

Same here

@doug2731 Год назад

My wife and I began investing last March during the peak of the GameStop / Meme stock craze. We both went into it completely ignorant and speculated on a few stocks. Thankfully, before any damage could be done, I came upon the Rational Reminder podcast and Common Sense Investing. We learned about the benefits of globally diversified index funds and the perils of active speculation. We've read many books and listened to countless podcasts to further our education. But ultimately, you and Cameron Passmore (based in Canada) are the greatest influences on my family's financial future in South Korea. Thanks so much for all your efforts in providing data and thoughtful commentary on both financial literacy and how to live a good life.

@failedfishermanBC 5 месяцев назад

This is an awesome comment. I made some dumb decisions too until I found this channel. ❤

@laurelreid Год назад

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

@Anitagibson Год назад

I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?

@laurelreid Год назад

@@Anitagibson There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts

@Anitagibson Год назад

@@laurelreid I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my investment adviser

@laurelreid Год назад

@@Anitagibson I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you ?

@Anitagibson Год назад

@@laurelreid Definitely! All of this happened in less than a year after Dominic Patrick Ruby told me what to do. I started with less than $100k, and now I'm about 17k short of having a quarter million dollars.

@steveybopp Год назад

The fact that your videos are based on your professional experience and referenced academic studies is the reason I keep coming back. Too many fin bros out there giving dodgy advice. Truly appreciate all the work that goes into demystifying topics. Thanks Ben!

@LunaticTheCat Год назад

And now many of them lime Graham Stephan have been exposed for the frauds that they are.

@oscars749 Год назад

I would like to thank you Ben for your altruistic work of dissemination in the name of all of your viewers. You clearly explain academic studies in simpler and entertaining ways, and you have helped many people learn and gain interest in finance, when the number of scams continues its exponential increase. I will be personally grateful since your videos and their content have helped me in my professional career but also as personal investor. I encourage you to continue creating this useful content. Regards,

@Cs-hp7ru Год назад

Altruistic? You don't think Ben is enjoying what he's doing? Part of what I love about this channel is Ben's obvious excitement and enthusiasm for the subject matter.

@paganini0332 Год назад

I'm glad your channel is growing, it's completely deserved. Thank you so much!

@blackfiree91 Год назад

You significantly impacted my financial literacy journey. Thx for your contribution.

@kimberlywasilensky2941 Год назад

I truly appreciate all of the citations you include throughout your entirity of your videos. So many other financial RU-vidrs say “research shows” and yet do not include the source. Thank you!

@WhereTheLoud Год назад

Ben Felix is a man of the people - really appreciate the perspective and consistency of content quality. A ton to think about in this one

@DeletedDenizen Год назад

It's okay to pray the choir; us in the choir struggle to help get family and friends to learn about making good financial decisions! Thanks for sharing 💜

@me0101001000 Год назад

I minored in business in college for this exact reason, as well as learning the fundamental rules for starting and managing my own company. Those of you in college or are going to go to college, particularly those of you in STEM, you should sincerely consider a business minor. You learn accounting, marketing skills, communication skills (something a lot of scientists and engineers tend to lack), and of course, management techniques, which become particularly important if you go into industry or the startup setting.

@malcolmtheyeti2871 Месяц назад

Having had to take an engineering economics course in school played a pivotal role in my personal financial success, looking back I’m very grateful for this random event that help to shape my life. You continue to help me on this path and for that I’m very grateful.

@IndexInvestingWithCole Год назад

At first I tried making videos explaining why certain investing channels shouldn’t be listened to. But there are simply way too many and hundreds more coming all the time. So it’s much better to simply teach people financial literacy so they can spot those channels themselves. Great video Ben 👍

@OmikronPsy Год назад

Please keep making these videos. The world obviously needs them.

@mr.financial Год назад

This was a very basic video, but much needed. You can also direct people to the Canada website. It provides all the very basic info on finances and investing. The website has improved a lot over the years for those that haven't checked it out for quite some time. Thanks for the good content Ben.

@Michael_Mears Год назад

Yes, Ben, I found myself nodding all the way through this. Many of those things you mentioned are mathematical literacy issues expressed in financial terms. They are a good litmus test. If someone claims they have any type of investment competencies but cannot do those simple calcs, there's some over confidence or cognitive dissonance going on with that individual. One area I've developed to suit my risk profile from a completely ignorant position was managing open positions and managing reinvestment of returns. That framework has improved changed how I approach the equities market, resulting in better outcomes I understand, rather than "How did that happen?", whether it was good or bad. Cheers, from Australia.

@azhp42069 Год назад

Always glad when you drop a video!

@mustapha-4322 Год назад

Good to see you again Ben! Thanks for your great and informative video's! Greets from Morocco🇲🇦

@mastercovenant Год назад

This guy have no idea the work hes doing for the people that find this channel by random!!! Keep this good content coming

@batardglouton5455 Год назад

I started investing in VEQT when I was 27, I only wish I found your content earlier. Later with the podcast, you introduced Larry Swedroe and his book on factor indexing, who also changed my views. I listened to a lot of RR since then and it made a huge difference in my discipline, risk assessment and understanding. - A proud member of the NCP team (no couch portfolio)

@batrarohit1 Год назад

🚀

@fluffyscruffy Год назад

Ben, you are the GOAT in this niche of YT. Thanks for your amazing work.

@user-gg4xn9lb6h Год назад

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@musicloveranthony Год назад

Impressive video. This is the only financial/investing video I’ve ever added to my favorites. Bravo and thank you

@hjanfekkmw Год назад

My starting point for financial literacy was Jack Bogle and Ben Felix. That was time and effort well spent.

@minasmina2700 Год назад

Κραείς εσού! 🤑

@doug2731 Год назад

Same! Thank goodness I found them within a month of starting my first investments last year.

@jandub7569 Год назад

Great content as always. Your videos shaped my point of view over the years.

@DanielsPengetips Год назад

Great video as always, Ben. I like that you included the test and took time to talk about each question.

@juliandafintri5691 Год назад

Hi Ben, Thanks for all your videos! A nice topic for a new video would be currency exposition. I live in Brazil ... we have a strong currency flutuation ... how should we deal with it considering our portfolios. Thanks!

@nickdoyle-achievefinancial2464 Год назад

Great video! It’s shocking 2/3 people don’t know these. Thanks for the work you’re doing to help!

@1990apoorv Год назад

Respect from India 🇮🇳 and thanks sharing this content for free.

@tzuhan_yen Год назад

You have already made HUGE difference!

@JustinJonesLi Год назад

One interesting observation about optimal levels of financial literacy: the way you described it sounds like a point-in-time consideration, and taken this way, an individual's optimal level of financial literacy might vary over time. For example, one's financial literacy needs may decrease over time due to past financially optimal behaviour. On a population level, average optimal levels of financial literacy may increase over time due to diminished availability of pensions or social security

@jonastronaut2942 Год назад

Came for the smile, stayed for the financial litteracy.

@123hotdog111 Год назад

Great video. Very direct and right on point.

@domkaz1669 Год назад

Appreciate your videos, thank you very much!

@739jep Год назад

Was not prepared at all to hear you say ‘Bullshit’ 😂 nearly spat out my coffee 😂

@larryjones9773 Год назад

Ben is getting feisty. Who knows, he may grow his hair long and dye it purple. Canadians are getting cocky, since our country is going down the shithole.

@nafaamrb1298 Год назад

Thank you for your work Ben !

@tom6039 Год назад

One of your better videos

@arigutman Год назад

I could not agree more with the insights within this video... Financial literacy is key to wealth generation...

@alexmason9397 Год назад

Thanks big man Felix, I use ur videos as a great source of academic studies for my uni essays

@AlexFlavell Год назад

Ben hits another home run 🔥

@dav0625 Год назад

Excellent, thank you Ben.

@gormanthomas8135 Год назад

Another terrific video. Thank you. You referenced concepts Dunning-Krueger researched. They are some of my favorite.

@mackerel2002 Год назад

I like the dunning Kruger effect, it's always good to keep in mind both sides of it. I try to ask myself something like: is this something people have spent a long time learning or training? Have I spent a long time learning or training in this thing?

@sagarshah4214 Год назад

Your videos are so good that I have notifications enabled for only your channel. Thanks again for sharing this information!

@mackerel2002 Год назад

Same here

@jb_makesgames2264 Год назад

Thanks a lot of good stats. It would be good to provide users with resources that would improve their financial literacy.

@aldosilva6 Год назад

A very nice video as always.

@eynsai Год назад

Thanks to Ben for consistently delivering great videos! I've got a point of constructive criticism to make, however. I've noticed that some of your videos contain white noise in the background. Have you considered using some form of noise suppression? If you use OBS to record your audio, it should have a built in noise suppression filter which you can add to your audio processing chain. Krisp also offers a standalone noise suppression software for free.

@blurabbit6476 Год назад

Can you recommend a study guide for financial literary please?

@user-wr4yl7tx3w Год назад

Always a great talk.

@CleverSmart123 Год назад

Great Video as usual

@JesusRodriguez-ku9kg Год назад

Hi, Have you ever talked about cash etfs such as HISA or HSAV? Seem like a good option for a fraction of the fix rate portion of an index portfolio along with bonds to reduce volatility. I would love to hear your opinion.

@georgezuwala7075 9 месяцев назад

Ben excellent video., Can you imagine Ben going into the school system and educating the youth with this type of thinking. Instead of learning about some useless subject they could learn this super knowledge because money and good decisions matters more than some history event. The future of these kids would be much higher. Over confidence is very important and yes so does Fear of missing out.

@deanoakie723 Год назад

Love your content! However, I want to suggest to upgrade the audio quality to the next level by reducing the static noise, which is possible just by applying free software without any significant investment aside of a little time.

@robinimpey101 Год назад

It's seems "we" are either becoming less literate or less disciplined, or maybe both, when it comes to our finances. Thanks for the great video!

@Shelf_improvement Год назад

Even though I could answer these questions, I really feel financially illiterate and I'm not sure how to improve my literacy. Really wondering how to educate myself other than watching RU-vid-- and sometimes I'm not even sure which channels to watch, though I try to stay away from the flashy ones.

@luanares Год назад

Great job Ben!

@Drazzziin Год назад

Love it, when you upload a new video!

@mackerel2002 Год назад

Thanks, great content as always

@thomas6502 Год назад

Thank you Ben!

@alexwharton319 Год назад

I have a three year liberal arts degree...but I work in finance....learning the long term power of a basis point changed my life for the better...retiring at 53 very comfortably...

@user-gg4xn9lb6h Год назад

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@BiesTV Год назад

Great video, as usual.

@singlespeedeats745 Год назад

Unreal video!

@joseraulmachadofernandez9744 Год назад

Love your videos Ben. I have a question: What’s the difference between XUU and VUS? Why is the first one priced 0.08 and the second one 0.16? Aren’t they basically the same and when should I choose one over the other?

@user-gg4xn9lb6h Год назад

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@darioparziale9980 Год назад

@Ben Felix can you share the source of the modeling estimates suggesting that 30-40% of the wealth inequality can be attributed to differences in financial knowledge?

@bp56789 Год назад

Promote your podcast more. It's amazing.

@cobrafinancialsolutions1039 Год назад

Great video!

@udarpavarota396 Год назад

Thank you.

@abhipatil4844 Год назад

Good one

@doneflounder7086 Год назад

What a underrated chanel

@implied321 Год назад

Hi Ben, idea for next videos. Volatility as an asset class and diversification benefits if it has against equity/bond portfolio

@implied321 Год назад

Fake Ben.Scammer

@LuisLancos Год назад

if we want to invest in Financial literacy, what are the best on-lines courses to look at ? what would be your advice ?

@ivanreii Год назад

beautifully presented, agent 47

@acerlagonda3537 Год назад

Are you still going to make a video on how money printing is not inflationary?

@kaziknybosman4739 23 дня назад

Greatest decision of investing is providing the contemplatory influential respond from variation which comes as leverage and immersive governing

@nevokrien95 Год назад

Does active managment ilclude algo trading?

@MaritsaDarman 9 месяцев назад

The second question you buy less because of shrink flation for instance even if you make double the price of a bag of chips will be the same but the contents lower

@christiansalonia3955 Год назад

If inflation doubles as my salary wont i be able to buy less staff presuming that i will be taxed more for my income?

@SuperFlamethrower Год назад

Numeracy is like literacy - it's understanding of numbers and math to a level necessary for navigating everyday life (literacy is understanding of written words to a level necessary for navigating everyday life). How do people navigate everyday life without numeracy?

@AntonyCoote Год назад

Love the content, but the audio and video fps appears to be off...

@livelucky74 Год назад

It boggles my mind that people can not correctly answer those questions. That is stuff we learned in high school.

@jacobgordillo6476 Год назад

Thanks Ben!

@jacobgordillo6476 Год назад

Every time I get the urge to time the market I go back and rewatch your video on that topic. It's surprisingly difficult to get that one thing to stick. Thanks for all your vids! Great work.

@arga400 Год назад

"Financial Bull Shit" You learn something new every day~~

@michaelluttmer2486 Год назад

< Thought he was semi-financially literate. Learned he is not. Got some studying to do. Great video as always!

@neilmacritchie Год назад

Financial literacy should start in the classroom with Ben Felix videos.🙂

@niranmojo Год назад

Watching a Ben Felix video is worth my time. Hit the like 😊

@miguelalbert Год назад

Hi Ben, Do the forecasts of Russell Napier change your diversified strategy? As he states that inflation is going to beat real growth for the next 15 to 20 years. Thankyou

@user-gg4xn9lb6h Год назад

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@kevindaoust6192 9 месяцев назад

I find this extremely worrying, as I do not consider myself financially literate by any means, and yet these questions were incredibly easy....

@zzzzzzzzzzz6 Год назад

Off-topic question: Is it likely that much of the incredible stock performance we've seen over the past century is driven directly by massive population growth? There's been a ton more people created (who need to consume but don't start life owning land / stock) who are doing a ton more work than 50-100 years ago. But at the same time this trend is unlikely to continue much longer in many countries such as the US.

@PapaCharlie9 Год назад

It's more about productivity like GDP, and since productivity grows if the population of productive people grows, it follows that population correlates. This means that countries experiencing declines in birth rates or even actual population, new ways of being more productive per capita would be necessary to sustain historic growth.

@rafaklimek6527 Год назад

Hearing about the results of all the studies, I wonder, has anyone checked if the participants actually read the questions?

@garal Год назад

Ben, what do you think about fear&greed index in making buying decision? How useful it is for the long term holder?

@garal Год назад

I just discovered it from non-English speaking blogger. Was quite a pain for me to start investing because of the choice of time to enter the market. I sold stock options, so had to decide whether to do lump sum or DCA. When discovered fear n greed index thought that next time I could use it. Pretty compelling to find local minimum for an index fund. Would probably set a deadline by what need to enter the market if fear n greed doesn’t go low.

@garal Год назад

Concern is a bull market where any waiting could play badly. And any bad events that could considerably lower ETF might not happen within a month. Not a case now, for sure.

@adm58 Год назад

Amazingly basic questions for so many to be unaware of the answers to. I'd have thought school would be the place to start this education.

@mirzah.5821 Год назад

2017 Boyle P. as in Patrick Boyle with the "Causes and consequences of financial fraud..." paper? At 3:50.

@lel7531 Год назад

Can you contract a financial advisor when you have a median income ?

@PapaCharlie9 Год назад

It depends on your country's regulations and conventions. In the US you can certainly find financial advisors for any level of income, but it is also true that some of them have a minimum net worth requirement. I've seen minimum net worth requirements from $100k to $1 million+.

@friedec3622 Год назад

Schools should teaching us this. Why no schools teach us? Business and economy class also doesn't teach us. Many people see money as evil. Even though they need money to survive.

@lemming78 Год назад

Can you do it in italian? Need to show it my mum

@brock8232 Год назад

I will never own stocks in my employer’s company unless they given, for free. As a layman I see little advantage with limited knowledge to owning individual equities

@satishpatil281182 Год назад

great

@Austin-fc5gs Год назад

Could this be correlation not causation where people with more money (whether it be wealth or income) get more value from financial literacy and therefore seek it out more often than those with less wealth/income

@PapaCharlie9 Год назад

Interesting question. I wouldn't say it's all one or the other. My gut feel is that there has to be a "literacy floor" that everyone benefits from, but then beyond that, you may be right that there is some amount of diminishing returns that impacts the motivation to learn.

@robertbones326 Год назад

Ben Felix is my favourite smart person. Make this man president!

@k24hybrid Год назад

👏👏👏

@webentwicklungmitrobinspan6935 Год назад

i am amazed about the amount of people (or lack of people) in germany investing in .. well anything, realy everyone seems so fearful about risking a few bucks

@foobar9220 Год назад

I do not think that having too much financial literacy is really a problem. Yes, one might invest more time than necessary. But all the important things can probably be taught in less than a single day. If we would dedicate one day per year in schools to financial literacy, it would be a huge gain for everyone without really impacting any other knowledge.

@BTrain-is8ch Год назад

We already do that. We dedicate many days per year to constructs that amount to basic financial literacy in school. Four of the five questions in this study are basic, grade school, math in the US. It's not that people aren't being taught the tools to make rational decisions in the space.

@foobar9220 Год назад

@@BTrain-is8ch I know this is very basic math but I think there is a difference between being taught the math and being able to apply it to practical problems. One needs to practice application just as well or the mind will not make the connection between what happens in the class room and what happens in life.