Even though we learn that money is merely a means of exchange, a store of value, or a unit of account, it’s so much more than this. Money captures so much of what we grapple with like hope, joy, fear, regret, and envy, yet it’s widely surveyed as being the least spoken-about issue when compared to religion, mortality, and marriage. Dr. Brian Portnoy, the author of The Geometry of Wealth, joins us today to share his view on wealth, which moves past the conventional understanding of accumulation. We kick off the show by discussing some of Brian’s research findings around the way people avoid talking about money. From there, we move onto his idea of funded contentment, which he hopes will get people to think about the different facets that go into a contented, joyful, and meaningful life. While this is a purposely loaded concept, Brian conveys the message in a simple, clear way to show that building wealth requires an assessment of many aspects of life. Then, we move onto how Brian believes financial crises affect people’s financial wellness. Although there are certainly immediate devastating effects of these crises, Brian takes it a step further, sharing a conceptual view of how these shifts intersect with people’s financial plans. After this, we turn our attention to adaptive simplicity and how it relates to goal-setting. We round the show off by discussing how the financial management industry is changing, and what Brian hopes the role of the advisor will increasingly become. Be sure to tune in today! Key Points From This Episode: 17:37 The four corners of the square: Exploring investment expectations and how people view this. 21:12 Brian’s practical and conceptual takes on how financial crises’ impact on financial wellness; Why Brian disagrees that volatility is not a great measure of risk for a long-term investor. 32:15 ‘Adaptive simplicity:’ What this is and why it’s key in financial planning; How to set financial goals, which are static, when being flexible is key. 38:47 Why Brian believes – despite his hedge fund experience – that investors can’t plan for mark-beating returns; The role that hedge funds could play in investors’ retirement strategies; What investors can do to understand if they can manage their own retirement. 49:15 How reframing the financial advisor relationship to a coaching one helps. 54:53 What the future of holistic financial advice should look like, according to Brian; Insights into Brian’s firm, Shaping Wealth, and the work that they do; Brian’s definition of success in his own life. Books From Today’s Episode: The Geometry of Wealth — https://amzn.to/2AZpIkg The Investor’s Paradox — https://amzn.to/2MPzsjX The Paradox of Choice — https://amzn.to/37gKtEm Links From Today’s Episode: Rational Reminder Website - https://rationalreminder.ca/podcast/102 Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582. Shaping Wealth — https://shapingwealth.com/ Brian Portnoy on Twitter — https://twitter.com/brianportnoy Brian Portnoy on LinkedIn — https://www.linkedin.com/in/brianportnoy/ The Geometry of Wealth — https://amzn.to/2AZpIkg The Investor’s Paradox — https://amzn.to/2MPzsjX Investment Company Institute — https://www.ici.org/ The Paradox of Choice — https://amzn.to/37gKtEm Dennis Moseley Williams on Rational Reminder — https://www.youtube.com/watch?v=CJiCOcris-Q The Rational Reminder is presented as an educational resource and should not be construed as individualized investment advice, nor as a recommendation to buy or sell specific securities. The funds and portfolios discussed are examples only and may not be appropriate for your individual circumstances.