How to Make Smarter Decisions about Money

Episode #450 How to Make Smarter Decisions about Money Paul Sullivan, author of the Wealth Matters column for The New York Times and the Money Game column in GOLF Magazine, discusses why it’s important for financial advisers to discuss money scripts with clients and for families to talk to their children about money. A lifelong golfer, Paul also shares anecdotes from some of the legendary pros, as well as a few things he learned after writing more than 500 columns about money. Episode Transcript: https://cfainst.is/3u2Dzh3 Topics discussed: 2:00 - Launching Wealth Matters column in the financial crisis 4:13 - Lessons gleaned over 500 columns 5:42 - Paul's; favorite column 7:54 - Why do we have an aversion to talking to kids about money? 11:00 - Strategies for helping people talk about money 13:17 - Money scripts 16:00 - Paul’s writing process and how he keeps finding ideas 18:49 - Flops and mistakes in behavioral finance 21:30 - Richard Thaler and The Thin Green Line 24:54 - Clutch and Tiger Woods 27:58 - Writing for Golf Magazine 30:48 - Paul's favorite golfing character and his favorite golfing story 33:06 - Ray of sunshine question 33:48 - NASA question 34:45 - Flight vs. Invisibility Related articles and links: NYT Wealth Matters https://www.nytimes.com/column/wealth-matters Paul’s favorite column’s: Somebody’s Watching ... and Ready to Sue https://www.nytimes.com/2009/09/05/your-money/05wealth.html A Bespoke Perfume Doesn't Come Cheap https://www.nytimes.com/2015/03/14/your-money/designing-personal-perfumes.html The Green Line Secrets https://www.amazon.com/Thin-Green-Line-Secrets-Wealthy/dp/1451687257 Clutch: Why Some People Excel Under Pressure and Others Don't https://www.amazon.com/Clutch-Excel-Pressure-Paul-Sullivan/dp/1591844290 Golf Magazine: https://golf.com/contributor/paul-sullivan/ CFA Institute members and charterholders Professional Learning Tracker https://cpd.cfainstitute.org/ ____ ►Subscribe to the Take 15 Channel Here https://cfainst.is/3px6ar4 ►Email us for comments, questions, or appearance requests:Take15podcast@cfainstitute.org ____ Find Lauren here: LinkedIn: https://www.linkedin.com/in/lauren-foster/ Twitter: https://twitter.com/laurenfosternyc Find Paul here: LinkedIn: https://www.linkedin.com/in/sullivanpaulj/ Twitter: https://twitter.com/sullivanpaul?lang=en