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J. David Stein is the producer and host of the weekly personal finance podcast, “Money For the Rest of Us.” He is also the editor and publisher of the investment education platform Money For the Rest of Us Plus, which provides individual investors with tools and resources to manage their own investment portfolios.
His podcast has focused on helping listeners understand how money, the economy and financial markets work thanks to stories, analogies and easy-to-understand examples.
Why He’s a Top Money Expert:
Stein has expertise in global macroeconomics, asset allocation, portfolio structure, market sentiment and alternative investments. His podcast has been helping listeners for over eight years.
What’s the one piece of money advice you wish everyone would follow and why?
If you can’t explain how a new investment opportunity works to a friend or family member, don’t invest. The act of explaining humbles us and helps us realize the areas we might need to do additional research in before investing.
What’s the most important thing to do to build wealth?
Increase your income over time and then consistently save 10% or more.
What’s your best tip for fighting the impacts of inflation?
Purchase Series I Savings bonds or individual Treasury Inflation Protection Securities through TreasuryDirect.
What’s the biggest mistake people make when it comes to money and what should they do instead?
They feel like they are behind where they should be in terms of savings and wealth, so they take excessive risks to try to catch up, including investments they don’t understand.
Instead, individuals should focus on increasing their income, consistently saving and building their knowledge of asset classes they can invest in.