Investing in Your Financial Literacy

Рет қаралды 81,781

Жыл бұрын

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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Пікірлер: 216

@health_and_finance Жыл бұрын

You have had the most influence on my financial literacy.

@dimitrakiriakopoulou6241 Жыл бұрын

not the real ben it is a scam watch out

@davec3974 Жыл бұрын

Mine too.

@jellovendigar Жыл бұрын

Me too

@Luke_Swanson_ Жыл бұрын

Same for me!

@petergyuros Жыл бұрын

Same here

@laurelreid Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

@@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 Жыл бұрын

@@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 Жыл бұрын

@@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 Жыл бұрын

@@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.

@doug2731 Жыл бұрын

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 6 ай бұрын

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

@steveybopp Жыл бұрын

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 Жыл бұрын

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

@oscars749 Жыл бұрын

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 Жыл бұрын

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.

@blackfiree91 Жыл бұрын

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

@paganini0332 Жыл бұрын

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

@me0101001000 Жыл бұрын

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.

@IndexInvestingWithCole Жыл бұрын

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 👍

@WhereTheLoud Жыл бұрын

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

@mr.financial Жыл бұрын

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.

@kimberlywasilensky2941 Жыл бұрын

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

@DeletedDenizen Жыл бұрын

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 💜

@OmikronPsy Жыл бұрын

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

@azhp42069 Жыл бұрын

Always glad when you drop a video!

@malcolmtheyeti2871 2 ай бұрын

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.

@Michael_Mears Жыл бұрын

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.

@DanielsPengetips Жыл бұрын

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

@mustapha-4322 Жыл бұрын

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

@fluffyscruffy Жыл бұрын

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

@user-gg4xn9lb6h Жыл бұрын

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@nickdoyle-achievefinancial2464 Жыл бұрын

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

@hjanfekkmw Жыл бұрын

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

@minasmina2700 Жыл бұрын

Κραείς εσού! 🤑

@doug2731 Жыл бұрын

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

@musicloveranthony Жыл бұрын

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

@jandub7569 Жыл бұрын

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

@mastercovenant Жыл бұрын

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

@batardglouton5455 Жыл бұрын

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 Жыл бұрын

🚀

@arigutman Жыл бұрын

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

@JustinJonesLi Жыл бұрын

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

@tzuhan_yen Жыл бұрын

You have already made HUGE difference!

@jonastronaut2942 Жыл бұрын

Came for the smile, stayed for the financial litteracy.

@739jep Жыл бұрын

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

@larryjones9773 Жыл бұрын

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.

@alexmason9397 Жыл бұрын

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

@123hotdog111 Жыл бұрын

Great video. Very direct and right on point.

@domkaz1669 Жыл бұрын

Appreciate your videos, thank you very much!

@1990apoorv Жыл бұрын

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

@tom6039 Жыл бұрын

One of your better videos

@AlexFlavell Жыл бұрын

Ben hits another home run 🔥

@sagarshah4214 Жыл бұрын

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

@mackerel2002 Жыл бұрын

Same here

@nafaamrb1298 Жыл бұрын

Thank you for your work Ben !

@gormanthomas8135 Жыл бұрын

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

@mackerel2002 Жыл бұрын

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?

@dav0625 Жыл бұрын

Excellent, thank you Ben.

@eynsai Жыл бұрын

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.

@juliandafintri5691 Жыл бұрын

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!

@aldosilva6 Жыл бұрын

A very nice video as always.

@thomas6502 Жыл бұрын

Thank you Ben!

@Drazzziin Жыл бұрын

Love it, when you upload a new video!

@singlespeedeats745 Жыл бұрын

Unreal video!

@user-wr4yl7tx3w Жыл бұрын

Always a great talk.

@alexwharton319 Жыл бұрын

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 Жыл бұрын

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@udarpavarota396 Жыл бұрын

Thank you.

@CleverSmart123 Жыл бұрын

Great Video as usual

@jb_makesgames2264 Жыл бұрын

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

@mackerel2002 Жыл бұрын

Thanks, great content as always

@georgezuwala7075 10 ай бұрын

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.

@luanares Жыл бұрын

Great job Ben!

@kaziknybosman4739 Ай бұрын

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

@BiesTV Жыл бұрын

Great video, as usual.

@livelucky74 Жыл бұрын

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

@robinimpey101 Жыл бұрын

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!

@deanoakie723 Жыл бұрын

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.

@cobrafinancialsolutions1039 Жыл бұрын

Great video!

@blurabbit6476 Жыл бұрын

Can you recommend a study guide for financial literary please?

@doneflounder7086 Жыл бұрын

What a underrated chanel

@joseraulmachadofernandez9744 Жыл бұрын

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 Жыл бұрын

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@abhipatil4844 Жыл бұрын

Good one

@bp56789 Жыл бұрын

Promote your podcast more. It's amazing.

@neilmacritchie Жыл бұрын

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

@ivanreii Жыл бұрын

beautifully presented, agent 47

@Shelf_Improvement Жыл бұрын

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 KZfaq-- and sometimes I'm not even sure which channels to watch, though I try to stay away from the flashy ones.

@JesusRodriguez-ku9kg Жыл бұрын

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.

@friedec3622 Жыл бұрын

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.

@jacobgordillo6476 Жыл бұрын

Thanks Ben!

@jacobgordillo6476 Жыл бұрын

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.

@MaritsaDarman 10 ай бұрын

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

@arga400 Жыл бұрын

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

@darioparziale9980 Жыл бұрын

@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?

@michaelluttmer2486 Жыл бұрын

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

@satishpatil281182 Жыл бұрын

great

@k24hybrid Жыл бұрын

👏👏👏

@kevindaoust6192 10 ай бұрын

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

@brock8232 Жыл бұрын

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

@acerlagonda3537 Жыл бұрын

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

@niranmojo Жыл бұрын

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

@adm58 Жыл бұрын

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.

@SuperFlamethrower Жыл бұрын

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?

@foobar9220 Жыл бұрын

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 Жыл бұрын

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 Жыл бұрын

@@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.

@LuisLancos Жыл бұрын

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

@webentwicklungmitrobinspan6935 Жыл бұрын

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

@implied321 Жыл бұрын

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

@implied321 Жыл бұрын

Fake Ben.Scammer

@mirzah.5821 Жыл бұрын

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

@craigmertz1994 Жыл бұрын

I'm 58 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for

@miguelalbert Жыл бұрын

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 Жыл бұрын

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@AntonyCoote Жыл бұрын

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

@earlh Жыл бұрын

Other than financial literacy, I would also add financial discipline.

@nevokrien95 Жыл бұрын

Does active managment ilclude algo trading?

@zzzzzzzzzzz6 Жыл бұрын

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 Жыл бұрын

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.

@christiansalonia3955 Жыл бұрын

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

@ivanmile78 Жыл бұрын

"I hope I’ve given you an appreciation for financial literacy" 😁 pun intended

@jyae7777 Жыл бұрын

I love how ben clearly can grow a full head of hair but chooses to remain bald

@user-gg4xn9lb6h Жыл бұрын

TeXtMe DiReCtLy🤙🤙🥶🥶.....,

@garal Жыл бұрын

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

@garal Жыл бұрын

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 Жыл бұрын

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.