In this episode of Behavior Gap Radio, Carl revisits one of his favorite topics: investing. He challenges the common misconception that success comes from finding the "best" investment and explains how true investment success is about becoming a better investor. Instead of constantly searching for the perfect opportunity, Carl emphasizes the power of consistency, long-term commitment, and resisting the urge to interrupt compounding. He also touches on the behavioral challenges we face, such as spending versus saving, and how mastering these habits is key to long-term financial success.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl dives into the process of decision-making, particularly when faced with big, life-altering choices. He emphasizes the importance of balancing analysis with intuition. While gathering information, testing assumptions, and creating pros and cons lists are essential steps, there comes a point when the analysis must stop, and it's time to trust your gut. Carl reflects on the shift from head-based decision-making to heart-based, highlighting the beauty of quieting the noise and asking, "Which one feels right?"Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl explores the inevitable arrival of risk when making important life decisions, particularly through the lens of parenting young adults facing monumental choices. From career paths to personal relationships, he reflects on how we react when things don't go as planned—whether it's failing a test, missing an opportunity, or changing life directions. Drawing inspiration from Kobe Bryant's mindset of learning from failure, Carl encourages us to embrace risk as part of growth. Tune in to discover how to navigate disappointment, keep moving forward, and learn from the challenges life throws our way.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl dives into the emotional rollercoaster of managing anxiety around money, particularly during times of high cognitive demand. After a whirlwind of travel, conferences, and personal challenges, he reflects on what helps alleviate stress and what exacerbates it. From the short-term comfort of ice cream to the long-term clarity that comes from organizing his space and staying mindful of his diet, Carl shares personal insights on how small, intentional actions can make a big difference in navigating financial worries. Tune in to explore the simple question: What makes it better and what makes it worse?Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, we dive into the deep, meaningful connections that define true friendship. Through a personal story of returning to the red rock canyons of Utah with friends he’s known since childhood, Carl reflects on the power of investing time and attention in friendships. He shares how these relationships have provided a safe space for vulnerability, forgiveness, and grace, despite mistakes. Carl emphasizes that nurturing friendships, even after long periods apart, offers invaluable returns. If you’re feeling disconnected, he shares simple steps to start building or rekindling those essential bonds.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl shares a deeply personal story about overcoming fear and self-doubt by finally completing a wilderness first responder course after over 20 years of hesitation. He reflects on the emotional challenges, including trauma around certain injuries and the mental hurdles that kept him from pursuing something he had always wanted to achieve. Carl’s message is simple but powerful: we can do more than we think we can. He encourages listeners to identify a long-held fear, embrace the discomfort, and take the leap, reminding us all that growth happens when we challenge our limits.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on a conversation with a friend who realized he had spent much of his life feeling appalled, offended, or upset over trivial things. Carl shares personal moments where he caught himself feeling unnecessarily frustrated, like in traffic, and questions the value of those feelings. He wonders how much time and energy could be reclaimed if we let go of these small, unnoticed annoyances. Tune in for an insightful discussion on freeing ourselves from unproductive emotions and finding more peace in everyday situations.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl shares a personal revelation sparked by his wife's observation that he was "in his body, instead of in his head." After completing an intense wilderness first responder course, Carl reflects on how the immersive, hands-on experience pulled him out of his usual mental routines and into the present moment. He discusses the concept of "replacing, not resisting" distractions like constant phone checking, and the value of embodied experiences over endless thinking.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on the value of investing time with friends, sharing a personal story of spending 60 minutes in conversation with his long-time friend Matt. Despite busy schedules and tiredness, Carl and Matt chose to connect, and the return on that investment was profound—bringing a sense of refreshment, energy, and deeper connection. Carl contrasts this with other ways we often spend our time, like scrolling social media or watching TV, emphasizing the lasting fulfillment that comes from genuine, meaningful interactions.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl explores the idea of energy as a vital form of capital, inspired by a question from Tom Rath’s "Are You Fully Charged?". With only 11% of people reporting having plenty of energy, Carl reflects on the importance of managing and replenishing our energy resources. He shares personal insights on how simple changes, like a good night's sleep, can make a huge difference and emphasizes the value of both building up energy and spending it wisely. Tune in for a thought-provoking take on aligning your energy with what truly matters.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl delves into the impact that relationships have on our energy, one of the four essential sources of capital. He explores the idea of how certain people can energize us while others can drain our energy and highlights the importance of being mindful about who we invest our time with. By aligning our social interactions with those who leave us feeling recharged, we can create a surplus of energy, like a renewable resource. Tune in to reflect on your relationships and learn how to optimize your energy.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl explores the often-overlooked concept of energy as a valuable source of capital alongside money, time, and attention. He reflects on how we invest, spend, or waste energy on things that either align with or detract from what matters most. Using personal examples, like the energy drain of checking news or podcast stats, Carl encourages listeners to reflect on their own energy usage and consider how aligning it more intentionally can lead to a more fulfilling life.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl invites you to join him for a thought experiment at your favorite coffee shop, where he draws a simple yet powerful symbol—a dollar sign. He explores the wide range of emotions and thoughts this symbol can provoke, from feelings of control to reflections on family legacies and financial struggles. Through stories shared by others, Carl highlights the deep personal meaning we often attach to money and invites you to reflect on your own reactions. What does the dollar sign stir in you? Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on the powerful and generous act of simply witnessing someone’s struggle, particularly when it comes to money. He explores the complexities of our relationship with money, from feelings of guilt over privilege to the shame of not having enough. Carl shares thoughtful conversation starters, such as asking about someone's first memory of money, to help create space for open and honest discussions. Tune in for a fresh perspective on the value of being a compassionate listener when it comes to the financial struggles we all face.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl dives into the sneaky nature of confirmation bias, using a personal story about road biking and weight tracking to highlight how we often seek out evidence that supports decisions we've already made. Carl reflects on how this bias shaped his behavior and shares the "Confirmation Bias Prevention Program," a strategy focused on seeking out disconfirming evidence and engaging with opposing viewpoints. Learn why embracing the discomfort of being wrong is key to making better decisions.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on the powerful idea that "attention is the rarest and purest form of generosity," a thought-provoking quote from Simone Weil. As he works on his new book about aligning the use of personal capital with what matters most, Carl explores attention as one of the four key forms of capital. He invites listeners to consider how they invest their attention and the profound impact it has on relationships. Through personal anecdotes, Carl highlights the deep connections that arise when we give others our full attention, a rare and generous act in today's busy world.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl delves into the profound question, "How much time do you have?"—exploring it both on a micro level, like during daily interactions, and on a macro level, as we contemplate our lives and mortality. He reflects on time as a form of capital, similar to money, energy, and attention, yet more elusive and harder to bank or store. Carl shares thought-provoking insights on how we invest time, how it aligns with what matters most, and the importance of making the most of it. It's a deep reflection on the nature of time and its role in our lives.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on a conversation with a friend about creative work, growth, and the tension between contentment and ambition. Drawing inspiration from a David Whyte poem, he explores the "why not me" mindset, the desire for personal and professional growth, and the struggle of comparison. Carl shares a powerful insight: Rather than trying to resolve the tension between being satisfied and wanting more, perhaps the tension itself is a gift. He encourages listeners to embrace this tension as a path to growth, both in life and in relationships.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl dives into the often-overlooked challenge of confusing net worth with self-worth. He explores how society tends to equate material possessions and financial success with personal value, reflecting on how this mindset can erode self-esteem, especially in contexts like salary negotiations or unemployment. Carl shares a personal conversation with a friend who felt crushed by the impact of losing work and highlights the importance of finding sources of self-worth that are independent of income or status. This thought-provoking episode encourages listeners to reflect on how they perceive their own value.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl dives into the fascinating asymmetry of risk, exploring how it impacts both financial decisions and life in the mountains. Drawing inspiration from hedge fund manager Mark Spitznagel’s quote, "Profit is finite, risk is infinite," Carl unpacks the profound differences in how we experience gains and losses, whether in our portfolios or on a precarious mountain ridge. With compelling insights into compounding and loss aversion, he highlights strategies for safeguarding against risk while still enjoying the rewards, both in the markets and in nature.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode, Carl wraps up his series on "Unknowing, Being Uncertain, and Slowing Down" with a thought-provoking conversation inspired by a friend deeply involved in design, architecture, and entrepreneurship. Over tacos, they discuss the pressure to act quickly when faced with uncertainty and how rushing often leads to mistakes. Carl reflects on his friend's statement that "all the major mistakes I've made were a result of rushing," prompting a deeper exploration of the importance of patience and embracing the unknown.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on his long-held bias toward action, especially in moments of discomfort and uncertainty. While action often leads to new information, Carl realizes that this approach may not always serve him well, particularly in high-stakes situations. He shares his journey of learning to slow down, sit with uncertainty, and resist the urge to act impulsively just to escape discomfort. Through self-awareness and the practice of "First a cup of tea," Carl emphasizes the importance of patience and mindfulness in making thoughtful decisions when the consequences could be significant.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl revisits the concept of high consequence, low probability events, sharing lessons from a recent adventure on the Northridge of the Pfeifferhorn in Utah. Reflecting on a risky move during the climb, Carl explores how our judgment can be clouded in the moment, leading us to underestimate the potential consequences. He emphasizes the importance of simple rules and protective measures when facing high-risk situations, whether in the mountains or in our financial lives. Carl advocates for developing rules and reviewing past actions to better navigate complex decisions and avoid letting excitement override caution.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl explores the concept of "Not knowing is most intimate," a Zen koan that challenges our perception of knowledge and vulnerability. Reflecting on personal experiences in the mountains and the markets, Carl discusses how facing the unknown reveals deep truths about ourselves and others. He shares stories of how people, including himself, react when confronted with uncertainty, from speeding up to feeling panic, and the beauty of slowing down to sit with the discomfort. Through these reflections, Carl highlights how embracing the unknown can lead to more intimate and meaningful connections with ourselves and those around us.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on the dangers of thinking we "know" more than we actually do. He shares personal insights on how quickly we make judgments in various aspects of life, from investments to outdoor adventures, often without any solid grounds. Using examples like private investments and risky outdoor conditions, Carl emphasizes the importance of recognizing when we don't know and simplifying decisions as a result. His key takeaway? In moments of uncertainty, it's better to acknowledge the unknown and make things simpler—sometimes, that means just saying no.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl shares his love for simple tools and how they can be surprisingly effective in daily life. Building on the previous day's discussion about gratitude, he talks about using the iPhone's built-in Reminders app to help reinforce positive habits instead of spending hours searching for more complex solutions. By focusing on simple, accessible tools like the Notes and Reminders apps, Carl emphasizes the power of replacing distractions with meaningful practices. He reflects on how these simple methods leave no room to hide from action, making them a valuable part of his daily routine.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl reflects on the power of gratitude and finding contentment in the present. After returning from a trip, Carl experiences a profound realization while running through the trails near his home in Park City, Utah. He shares how he's been conditioned to constantly think about acquiring new things or chasing the next goal but recognizes that true happiness comes from appreciating what he already has. Carl encourages listeners to practice gratitude, not for the material things but for the sense of home, connection, and fulfillment that is already present in their lives.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl continues his exploration of the relationship between time and money by sharing personal stories of friends who handle their time and spending in vastly different ways. From paying for river guides to changing their own oil, each individual makes unique choices based on what they value more—time or money. Carl reflects on these trade-offs and poses the question: Where are we willing to spend money to buy back time, and when does it actually save us time? Join Carl for a thought-provoking discussion on prioritizing time and money.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/

In this episode of Behavior Gap Radio, Carl poses a thought-provoking question: Would you rather waste money or time? Inspired by an interview where James Corden shared his belief that time is the only currency of true value, Carl reflects on the importance of prioritizing time over money. He delves into the idea that while traditional financial planning often centers on money, it might miss the mark by not considering time, energy, and attention as equally valuable forms of capital. Join Carl as he explores how we allocate our most precious resource—time.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/

In this episode of Behavior Gap Radio, Carl dives into the dangers of overconfidence, especially among experts. Building on the previous episode, he explores how the gap between knowing and doing can lead to costly mistakes. Overconfidence, Carl suggests, is a common issue for experts who begin to rely too much on their knowledge and forget the importance of maintaining a beginner’s mindset. Through thought-provoking insights, Carl reminds us that while expertise is valuable, the real risk comes when experts lose the humility to keep learning and adapting.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/ 

In this episode of Behavior Gap Radio, Carl dives into the puzzling phenomenon of experts making critical mistakes—even when they know better. From avalanche terrain to the investment world, Carl examines why those with the most knowledge can still make fatal errors, often due to the gap between knowing and consistently doing. He explores the dangerous stories we tell ourselves, group dynamics, and the psychological traps that lead even the most seasoned professionals to make catastrophic decisions. Tune in for a thought-provoking exploration of why expertise doesn’t always prevent failure.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/

In this episode, Carl explores the concept of "predictive value" and the challenges of identifying factors that can forecast success, particularly in the investment and startup worlds. He reflects on his experience advising institutional investors and the ongoing search for variables that can reliably predict outcomes. Carl highlights the complexity of determining whether success is due to skill or luck, emphasizing the importance of focusing on the process rather than just the outcome. Tune in for a thought-provoking discussion on what truly has predictive value and how to apply this in various fields.Want more from Carl? Get the shortest, most impactful weekly email on the web! Sign up for the Weekly Letter from Certified Financial Planner™ and New York Times columnist Carl Richards here: https://behaviorgap.com/