Image of Jill Sclesinger and her book cover The Dumb Things Smart People Do With Their Money

Jill Schlesinger on Why Smart People Make Dumb Money Moves

Image of Jill Sclesinger and her book cover The Dumb Things Smart People Do With Their Money

We talk with CBS business analyst Jill Schlesinger about smart people making dumb money moves and how to avoid these traps – if you’re smart enough.

On The BIGG Success Show , we talk with Jill Schlesinger. Jill is an Emmy-nominated and Gracie Award Winning Business Analyst for CBS News, a weekly guest on NPR’s Here and Now, and a Certified Financial Planner. She writes a weekly syndicated column, Jill on Money, and serves as the host of the nationally syndicated radio show and podcast, Jill on Money.

She joins us to talk about her new book, The Dumb Things Smart People Do with Their Money: Thirteen Ways to Right Your Financial Wrongs*. Here’s a summary of that discussion.

What’s wrong with trying to time the market?

Jill says it’s a classic mistake. Market timing requires two perfect decisions. First, you decide when to sell. Perhaps the market is at an all-time high. But how do you figure out when you’re going to get back in? It’s nearly impossible. And very few people can consistently time the market long-term.

She adds that Warren Buffett, in an annual letter a couple years ago, told his heirs to invest 90% of their inheritance in a S&P 500 index fund, put 10% in bonds, and go to sleep at night.

Jill tells us about a time when she tried to time the market. She became an instant celebrity. Then she flamed out in public. Simply click the PLAY button to hear the full story.

How is investing like “defensive driving”?

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7 Ways to Improve Your Financial Health blog post image

7 Ways to Improve Your Financial Health

7 Ways to Improve Your Financial Health blog post image

It’s easy to stress over money. But you will feel less stress if you take action to improve your financial health. We share seven ways.

On The BIGG Success Show, we discuss how to get over stressing about money by taking seven tangible steps to improve your financial health. Here’s a summary of that discussion.

Every day, the headlines carry a stream of negative news about our financial situations. Baby Boomers aren’t ready for retirement. Generation X still hasn’t recovered from the last recession. Millennials are overwhelmed by debt. Generation Z is dismal about the future. On and on it goes.

How can you get past the stress and have a healthy relationship with money? We’ll share seven ways.

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Find Your Why

Find Your Why blog post image

Find your why to feel fulfilled in life. Passion may get your attention, but it’s your purpose that sustains you in fulfilling your calling.

We discuss how to find your why on The BIGG Success Show today. Here’s a summary of that discussion. This show was inspired by a commencement speech by Madison Industries CEO Larry Gies, given at the University of Illinois at Urbana-Champaign. Here’s a summary of what we discussed:

It’s graduation season. We love this time of year. So many young people passing into adulthood. The excitement of new beginnings. Hope for the future.

We love commencement speeches. We are often inspired and challenged by the messages delivered from the brightest minds in the world. We’ve covered commencement speeches before on The BIGG Success Show. For example:

Coke CEO Byron Dyson and the lesson of the five balls, Georgia Tech, 1991

Tom Hanks on fear and faith and success, Yale, 2011

Harry Potter author J.K. Rowling on the power of imagination, Harvard, 2008

Steve Jobs on being crazy enough to change the world, Stanford, 2005

Larry Gies and George KruegerToday, we’re going to talk about the best commencement address at the best school – Larry Gies, CEO of Madison Industries, speaking to the Class of 2019 at the University of Illinois at Urbana-Champaign – on how to find your why.

We’ve known Larry for about 25 years. He’s a true entrepreneur, building his $5 billion business one acquisition at a time. He treats his people like people, not drones. And he and his wife, Beth, have given away millions of dollars, including a $150 million donation to the University of Illinois – the largest in its history.

So here are our takeaways from Larry’s commencement speech, 3 lessons on how to find your why.

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The First Step to Save More Money blog post image

The First Step to Save More Money

The First Step to Save More Money blog post image

If you want to save more money, where do you start? What’s’ the first step? If you’re surprised by the answer, you’re not alone. Most people are. Brought to you by FinancialFreedomTool.com. Plenty of money…for life!

Last time on The BIGG Success Show Podcast, we talked about how a pay raise can cost you. Many people make more, but then spend even more. One reason is because taxes creep in.

Today’s show is a continuation of this topic. If you want to save more money, where do you start? What is the first step? We discuss this on our show today. Most people are surprised by the answer…

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How Getting a Raise Can Cost You blog post image

How Getting a Raise Can Cost You

How Getting a Raise Can Cost You blog post image

Getting a raise at work should be all good. But many people fall into a trap and end up in worse shape financially. Discover how to stay out of the trap.

We discuss the trap that comes from getting a raise on The BIGG Success Show today. Here’s a summary of that discussion.

This show was inspired by our latest free resource. It helps you quickly discover how your finances compare to an average American in five key areas. (You can sign up below to get your free copy.)

Do you think a pay raise is a good thing? Of course, it is. Right? But only IF you understand the inherent problem that comes with it. That’s what we want to discuss with you today.
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