You Need to Be Bored

This week's blogpost - https://bahnsen.co/48ZUDcG

The Importance of Embracing Boredom

In this episode of the Thoughts and Money Podcast, host Trevor Cummings and guest Blaine Carver discuss the insights from Blaine's recent blog article titled 'You Need to Be Bored.' They explore how constant stimulation from technology can detract from addressing meaningful, big-picture financial questions, and how creating moments of boredom can lead to better financial decisions. The conversation also covers the pitfalls of making impulsive investment decisions and highlights the importance of having a structured financial plan. Additionally, they touch on the need for prioritizing high-importance and high-urgency financial tasks over less impactful activities. The hosts share their personal experiences with managing boredom and financial stress, emphasizing the value of focusing on long-term planning. They also reflect on how market distractions can lead to suboptimal investment behaviors and the cultural difficulty of being bored in today's fast-paced, tech-driven world.

00:00 Welcome to the Thoughts and Money Podcast

00:16 The Importance of Boredom

00:57 Arthur Brooks' Influence

02:39 Cultural Challenges with Boredom

03:34 Investment Behavior and Boredom

04:35 The Impact of Technology on Investing

05:23 The Role of Boredom in Creativity

06:51 The Psychology of Investing

10:54 The Value of Long-Term Investment Strategies

18:27 Micro vs. Macro Financial Planning

19:28 Prioritizing Financial Decisions

21:06 The Importance of Addressing Major Financial Issues

24:00 Balancing Urgency and Importance

25:52 Creating a Comprehensive Financial Plan

29:11 The Role of Boredom in Financial Planning

33:08 Avoiding Financial Distractions

39:03 Final Thoughts and Holiday Wishes

Links mentioned in this episode:

• http://thoughtsonmoney.com
• http://thebahnsengroup.com