Freakonomics Radio · 2026-01-02 · 61 min · 10,289 words

Are Personal Finance Gurus Giving You Bad Advice? (Update)

Listen to the original audio · Transcribed with NVIDIA Parakeet · Timestamps stay in sync with the live audio

Hey there, it's Stephen Dubner. Happy New Year. If you were the kind of person who makes a New Year's resolution, there is a good chance that resolution has to do with your personal finances. This has always struck me as a bit odd, since there is no shortage of people out there who give financial advice, so maybe that advice just isn't working. That is a question we set out to explore in 2022 in an episode called Our Personal Finance Gurus Giving You Bad Advice.

We thought it might be a good idea to play it again now. We have updated facts and figures as necessary. I hope it helps. As always, thanks for listening. I've got a question for you today, a personal question.

It's about something you may not be so comfortable talking about. Let me give a little background first. Years ago, I was writing a book about the psychology of money. I was going to call it money makes me happy, except when it doesn't. But I ended up putting that book

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