Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford.

Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford.

      A recent report discusses the potential for sponsored placements in ChatGPT responses, while OpenAI emphasizes the importance of trust and product quality.

      OpenAI continues to investigate the idea of “ChatGPT ads,” despite earlier indications that it was reconsidering this approach in order to enhance response quality. According to The Information, the company is thinking about introducing sponsored content that could be prioritized for inclusion in ChatGPT answers.

      This is significant for a straightforward reason: if paid placements appear alongside advice, it may influence your clicks and purchases. However, this does not guarantee that ads will definitely be implemented. Companies are perpetually testing features, and this is more about concepts and prototypes than an actual rollout.

      In a statement to The Information, OpenAI acknowledged this direction, stating that it is “exploring what ads in our product could look like,” while reiterating its commitment to maintaining user trust.

      Prototypes indicate ad placement

      The report suggests one concept where the model would prioritize sponsored content to ensure it shows up in responses. Another design proposed would feature sponsored information displayed in a sidebar next to the main ChatGPT response area.

      Sidebar placement is easier to interpret quickly since it resembles traditional advertising space. In contrast, incorporating sponsored suggestions directly into an answer is more complex, as the user interface may create the impression of a unified recommendation.

      Shifts in the timeline

      This situation seems to fluctuate between "not at this moment" and "still being considered." After ad-related terms appeared in the Android beta, a subsequent report indicated that OpenAI had stalled ad development as leadership concentrated on quality, influenced by ongoing advancements with Gemini.

      The Information now reports new advertising concepts again, implying that the notion remains alive, albeit temporarily deprioritized.

      What to look for next

      If “ChatGPT ads” progress beyond the prototype stage, the first indication will be disclosure: clear sponsorship labels, uniform placement across platforms, and settings that clarify personalization. The second indication will be the location of paid content, whether it remains in a sidebar or begins to integrate into the main responses.

      However, there is currently no set date for implementation. Until OpenAI shares specific product details, consider this as testing and pay attention to its reactions to Google’s Gemini initiative.

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      Paulo Vargas is a reporter and technical writer who previously studied English, with a career that has continually returned to…

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      Maximize your after-Christmas sales shopping with these essential tips

      These shopping strategies will aid you during the Christmas sales.

      Once the mince pies are stored away and the wrapping paper is being removed, consider the neglected gadgets, clothing, and snacks that went unwrapped this holiday season. The Christmas sales begin right after the main day and offer a chance to snag a variety of items at appealing discounts.

      While not as widely anticipated as Black Friday or Prime Day, the post-Christmas sales still present an excellent opportunity to find bargains, whether on a gift you desired but didn’t receive or on leftover stock of popular items from the year. Now is the perfect time to purchase that sought-after phone, discover an affordable GPU to enhance gaming in 2026, or finally get the best TV you’ve been waiting for.

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      I compared the image generation capabilities of ChatGPT with those of Nano Banana, and only one proved to produce usable stock photos.

      This involves testing stock image creation with two distinct chatbots.

      One of my personal hobbies is querying two different chatbots with the same question to see which one yields the best answer. Much like a professor evaluating students (which I occasionally do as a volunteer), I assess whether the bot creates hallucinations or provides intelligent, coherent responses that are genuinely useful.

      “Intelligence” and “coherence” aren’t the descriptors I would typically assign to the images generated by chatbots. Often referred to as AI slop, these bizarre creations — featuring aspects like blurred backgrounds, impeccably styled humans, and sometimes even extra thumbs — abound on social media and even appear as feature images in articles like this one.

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      LG introduces its new UltraGear evo monitors, emphasizing resolution and AI upscaling.

      With a focus on AI-driven upscaling and addressing Mini-LED blooming, LG's UltraGear evo monitors suggest that the future of gaming displays is about refinement rather than excess.

      LG has launched a new series of UltraGear evo gaming monitors that heavily focus on two main themes: enhanced resolutions and advanced AI upscaling. The lineup includes three models: a 39-inch 5K2K OLED gaming monitor, a 52-inch 5K2K 240Hz gaming monitor, and a 27-inch 5K mini-LED monitor.

      To start, the 39-inch GX9 (39GX950B), a curved OLED monitor, delivers "5K-class clarity without necessitating GPU upgrades," indicating the brand's commitment to AI upscaling. With real-time upscaling, AI Scene Optimization, and AI Sound, this monitor not only enhances visuals but also improves audio quality.

Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford. Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford. Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford. Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford.

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Welcome to Greatest Hits Week – five days, five episodes from our archive, spelling out F-I-I-R-E. Today’s second letter, I, represents Investing. This episode first aired in April 2022, but the framework we discuss remains among the most practical guides we've provided for accumulating wealth at any age. Nick Maggiulli is with us to explain why many young investors fixate on the wrong metrics and to introduce his Save-Invest Continuum, which illustrates precisely when savings outperform investment returns and when that shifts. _____ In his twenties, Nick Maggiulli spent a considerable amount of time fixating on his investment portfolio, adjusting his asset allocation, estimating net worth projections, and creating complex spreadsheets. At the same time, he was spending $100 every weekend partying in San Francisco. It took him years to recognize the absurdity of this behavior. His annual investment returns on his modest $1,000 portfolio might yield him $100, which is equivalent to what he would spend in one night out. Maggiulli joins us to clarify why young investors concentrate on the wrong aspects and provides his framework for determining when to focus on saving versus investing. He introduces the Save-Invest Continuum, which compares your projected annual savings to your anticipated investment returns. When starting out, your saving capacity greatly exceeds any investment gains. For instance, a $6,000 annual saving potential surpasses a $100 investment return every time. We delve into the mathematics of saving 50 percent of future raises, not out of guilt or deprivation, but to achieve lifestyle balance while growing wealth. This guideline only applies to actual raises above inflation. If you receive a 3 percent raise concurrently with a 3 percent inflation rate, you have not truly made any progress. The discussion shifts to unconventional income-generating assets. Aside from stocks and bonds, Maggiulli explores investing in farmland, which provides returns that are uncorrelated with standard markets. He recounts a story about someone who purchased the royalty rights to Jay-Z and Alicia Keys’ "Empire State of Mind" for $190,000. The song earned $32,733 in royalties the prior year, indicating an 11 percent return if that income remains stable. We investigate why 85 to 90 percent of your portfolio should generate income via dividends, rent, interest, or business profits. Maggiulli keeps his speculative investments, including cryptocurrency, art, and individual stocks, to less than 10 percent of his net worth. He admits that his two selected individual stocks have declined by 60 to 70 percent, illustrating his point about steering clear of stock picking. The episode underscores that time is your most valuable asset. Warren Buffett would likely be willing to trade his entire fortune—and even incur debt—to be 35 again. This viewpoint influences every financial decision, from selecting income strategies to choosing between assets that simply appreciate versus those that provide income while you sleep. Resources: Afford Anything podcast episode #375 Timestamps: Note: Timestamps may vary across different listening devices due to dynamic advertising durations. The provided timestamps are approximate and may differ by a few minutes based on changing ad lengths. (0:00) Nick’s regret over focusing on investments while neglecting returns from partying (4:20) Explanation of the Save-Invest Continuum (7:00) When savings are more crucial than investment returns (11:20) Balancing both saving and investing in midlife (12:00) Crossover point: when investment returns surpass spending (13:00) The 2X Rule for guilt-free spending (14:20) Save 50 percent of future raises (19:30) Five strategies to increase income (21:20) Selling time versus selling skills (23:00) Teaching and product creation for income (25:00) Advancing the corporate ladder (26:00) Transforming human capital into financial capital (27:20) Income-generating vs. speculative assets (31:00) Allocation for individual stocks and cryptocurrency (34:40) Basics of farmland investing (36:20) Example of royalty investing (40:20) Art and non-income-generating assets (42:00) Strategies for inflation and debt Thanks to our sponsors! Boldin: Model your retirement scenarios, test every "what if," and confidently take control of your financial future. Start planning at go.boldin.com/afford.

According to a recent report, OpenAI is still considering the introduction of ads in ChatGPT, highlighting the potential for sponsored content to be featured prominently in responses. While this isn't a launch yet, it indicates that the concept is very much in consideration.