There are really only two games in life: finite and infinite. People who focus on quick wins, short-term gains, and success at all costs play finite games. They swear by start and finish lines and insist on there being winners and losers. If you want to lay an excellent foundation for your life, finite games won’t cut it. You need to play infinite games instead. In this episode, Dylan discusses finite and infinite games, the importance of knowing which one we’re playing, and how we can apply the...
Jun 20, 2023•27 min•Season 1Ep. 75
The Securities and Exchange Commission (SEC) is cracking down once again on crypto exchanges. Early last week, the SEC took aim at Binance and Coinbase — two of the most powerful forces in the world of cryptocurrencies — for allegedly breaching its rules. In this episode, Dylan unpacks the cases against Binance and Coinbase and what their outcome could mean for the crypto sector. Show Highlights [01:42] A recap of why the crypto exchange FTX went bankrupt [04:26] Whether crypto passes the Howey ...
Jun 16, 2023•29 min•Season 1Ep. 74
We’ve all faced financial setbacks in one way or another. A bad investment, an unexpected bill, a business venture that didn’t go according to plan — these financial hiccups can leave even the best of us feeling discouraged and unsure of how to move forward. That’s where After-Action Review (AAR) comes in. The AAR was originally developed by the US Army as a structured way to learn quickly from soldiers’ experiences in the field. But the AAR is also a powerful tool that can help us recover from ...
Jun 13, 2023•26 min•Season 1Ep. 73
Dylan’s back for another “Ask Me Anything” episode, answering Instagram follower-submitted questions about economic systems, dividend stocks, and money conversations as they pertain to relationships. Show Highlights [01:20] What is Ayn Rand’s Objectivism? [07:37] Similarities between Objectivism and the Austrian school of economics [10:24] Differences between Objectivism and the Austrian school of economics [12:36] Whether an economic system with little to no government intervention can be imple...
Jun 09, 2023•31 min•Season 1Ep. 72
Navigating the emotional rollercoaster of any loss is one of the most difficult things you have to deal with. Financial losses are no exception. The loss of a large amount of money can have a traumatic effect, particularly if the financial loss impacts life milestones like the purchase of a home or paying for your child’s education. You may feel there’s no coming back from the loss and, in turn, do things that worsen the situation. The good news is there are ways you can recover from a financial...
Jun 06, 2023•27 min•Season 1Ep. 71
English economist and philosopher John Maynard Keynes is largely considered to be the father of modern macroeconomics. His ideas in the early 1900s have had a huge impact on both economic theory as a whole and the economic policies of governments worldwide. In the second part of this three-part series, we discuss Keynesian economics, starting with a refresher on the classical and Austrian schools of economics. We also unpack how he diverged from his contemporaries, the key ideas in his revolutio...
Jun 02, 2023•51 min•Season 1Ep. 70
Budgeting is one of the best tools you have to take control of your money, achieve your financial goals, and set yourself up for success. Unfortunately, it’s not always a given. Many people avoid discussions about budgeting at all costs, mostly because they don’t know where to start. Do they need to save money? Can they even save money? Should they invest it instead? In today’s episode, Dylan breaks down the three stages of a personal finance journey — income, saving, and investing — to help you...
May 30, 2023•27 min•Season 1Ep. 69
Memorial Day wasn’t always about long weekend road trips, backyard barbecues, or sales. The real meaning of this national holiday is more somber. In this episode, Dylan talks about the origins of Memorial Day and what this holiday means — and should really mean — for Americans. Show Highlights [02:58] Why Memorial Day was originally known as Decoration Day [04:07] The origins of Memorial Day [08:52] The first large observance of Decoration Day [10:27] When and how Memorial Day became a federal h...
May 26, 2023•19 min•Season 1Ep. 68
Once you’ve figured out what to invest in, you may be wondering how to get started. If you’re like most people, you’ll probably hire a financial advisor. But that’s not the only option. In this episode, we discuss the three ways you can go about investing and the pros and cons of each. Show Highlights [03:23] The pros of hiring a financial advisor [08:54] The cons of hiring a financial advisor [16:01] How you can do it yourself when it comes to investing [18:56] The pros of DIY index funds [21:0...
May 23, 2023•33 min•Season 1Ep. 67
As humans, we all have different needs, and our actions are always influenced by those needs. This idea lies at the heart of what we’d come to know as the Austrian school of economics. Unlike the classical economists from last week’s episode, Austrian economists like Carl Menger believed that value is completely subjective; that a product's value is based on its ability to satisfy human wants; and that if a product exists in abundance, it will be used in less-important ways. In the second part o...
May 19, 2023•47 min•Season 1Ep. 66
Investing can be an intimidating prospect for beginners, with a wide variety of asset classes to choose from. But even experienced investors tie themselves up in knots over which assets to add to their portfolios as if there’s somehow a way to predict the future. To be sure, the investment landscape is ever-evolving. But if you take the time to understand basic investment principles and the different asset classes, you stand to gain significantly in the long term. In today’s episode, Dylan discu...
May 16, 2023•39 min•Season 1Ep. 65
Economics is one of those things that fundamentally influences our lives on a day-to-day basis. Yet most of us only somewhat understand what it is and how it works. In the first part of this three-part series, we’ll take a look at classical economics — widely regarded as the first modern school of economic thought — and the historical conditions in which it arose. We’ll also discuss the work of classical economists and how they pioneered a new way of thinking about markets, the way market econom...
May 12, 2023•44 min•Season 1Ep. 64
If you’ve reached the savings stage of your financial life and are thinking of saving for retirement, you’re likely to come across 401(k), 403(b), and IRA account options. While all three can offer you similar benefits, there are some key differences to note among them. In this episode, Dylan guides you through the similarities and differences between 401(k)s, 403(b)s, and IRAs to help you determine which makes the most sense for your retirement plan. Show Highlights [06:15] The easiest way to t...
May 09, 2023•31 min•Season 1Ep. 63
Early this week, the Supreme Court announced that it will hear a case aimed squarely at killing off the Chevron deference — the nearly-four-decade-old legal tool that gives federal agencies wide-ranging power to defend environmental rules in court. But how did that case come about, and what could overruling the Chevron deference mean for government agencies, businesses, and us as citizens? In this episode, Dylan breaks down Loper Bright Enterprises v. Raimondo (which explicitly asks whether the ...
May 05, 2023•26 min•Season 1Ep. 62
Do you ever feel like no matter how hard you try, it’s next to impossible to save money? You try to spend less and put money away, but something almost always comes up. Your car needs new tires, you went over on groceries, your kids have a sporting event — and just like that, saving money takes a back seat. But while the topic of savings can be intimidating, you don’t need everything to line up perfectly before you save money. You can start by asking yourself these two simple questions: how shou...
May 02, 2023•30 min•Season 1Ep. 61
If we want to take control of our financial lives and live free, it’s crucial to separate the signal from the noise. Two topics that have been generating a lot of buzz recently are the M2 money supply and de-dollarization. But beyond the sensational headlines, how much do we truly understand these topics? In this Friday episode of Fiscally Savage, Dylan discusses the M2 money supply and the factors that influence its growth rate, the centrality of the U.S. dollar in world affairs, and why the U....
Apr 28, 2023•26 min•Season 1Ep. 60
In today’s world, we depend on many things, from the electric grid that powers our homes to the cars we drive to go to our jobs. But emergencies and crises, such as the recent COVID-19 pandemic, have shown us how vulnerable we can be when too dependent on external factors. So, how can we become less reliant on these external systems? Can we even be completely independent of those systems? Better yet — is there a more realistic way we can face life’s uncertainties head-on? In this episode, Dylan ...
Apr 25, 2023•33 min•Season 1Ep. 59
Forget winning or losing. According to bestselling author Simon Sinek, the most important thing is to determine what type of game you’re playing. And in life, there are only two: finite and infinite. In today’s episode, Dylan talks about the difference between finite and infinite games, how to recognize which game we’re playing, and how we can apply the concept of the infinite game mindset to the different aspects of our lives. Show Highlights [02:09] Finite and infinite games defined [03:08] Ex...
Apr 21, 2023•13 min•Season 1Ep. 58
Last Friday’s episode laid out some of the major problems with taxation in the US. But with our tax system being what it currently is, what can we do about those problems? In today’s episode, Dylan breaks down tax brackets and federal income tax rates to give you a better understanding of how taxes work. He also provides key strategies you can use to make your taxes work for you. Show Highlights [05:10] Examples of tax structures in different countries [09:07] What a progressive tax system is an...
Apr 18, 2023•33 min•Season 1Ep. 57
Did you know that the average taxpayer in the US takes about 13 hours to do their tax return, that they pay over $200 for tax prep fees, or that if they want to call the IRS for help, they wait about 22 minutes on average to get through if they even get through at all? These statistics offer a glimpse into just how convoluted and stress-inducing tax filing in the US is. And with Tax Day upon us, you’d be hard-pressed to find someone who thinks otherwise. But why exactly is the US tax system so c...
Apr 14, 2023•35 min•Season 1Ep. 56
The great investor Warren Buffet once said, “Few aspects of human existence are more emotion-laden than our relationship to money.” You might hear of friends or colleagues who hit it big in crypto or real estate and think you ought to do the same. But that’s just your emotions (and need to fit in) talking. Unfortunately, we can’t stop having emotions, and we’re simply hardwired to want to conform to social norms. So what can we do if we want to get a handle on our finances? In today’s episode, D...
Apr 11, 2023•26 min•Season 1Ep. 55
When it comes to making financial decisions, we often think of logic and reason. After all, money is about numbers, calculations, and profits. We like to believe that we make logical choices based on the information we have available, but that’s not always the case. Emotions, not logic, often dictate our decisions, and this is true for corporations as well. This is because they are run by people, not robots, and humans have a natural inclination towards social validation and fear of exclusion. T...
Apr 07, 2023•25 min•Season 1Ep. 54
Investing can be fun and exciting. That doesn’t mean it should be. Like gambling, investing can be addicting, especially now that the ability to buy and sell is right at people’s fingertips, no thanks to trading apps. But when it comes to building wealth, boring basics is the name of the game. In today’s episode, Dylan discusses investing, assessing your risk tolerance, and how you can build a more wealthy life in the future. Show Highlights [04:07] The difference between investing in a single c...
Apr 04, 2023•23 min•Season 1Ep. 53
The US economy has repeatedly defied predictions of a recession in recent years, but the tumultuous aftermath of the Silicon Valley Bank collapse early this month has rekindled recession fears. The collapse, which took down several other banks, is in part a rerun of a familiar story, one that highlights the importance of having adequate financial regulations. In today’s episode, we’ll take a trip down memory lane to the different financial panics and crises in US history to better understand how...
Mar 31, 2023•40 min•Season 1Ep. 52
It’s easy to calculate your net worth. It’s harder to figure out if you’re on the right track to building wealth. In today’s episode, Dylan breaks down three friction points in chasing net worth and how we can tackle them to get our financial lives in order. Show Highlights [03:17] Why a very high net worth isn’t always a good thing [08:23] Three friction points in chasing net worth [10:04] Why people may hesitate to chase net worth [17:56] How net worth and wealth increase exponentially [25:19]...
Mar 28, 2023•29 min•Season 1Ep. 51
Swiss financial services company Credit Suisse is the latest victim of a new confidence crisis in banking. But its takeover by rival bank UBS didn’t come of out the blue. It was the inevitable result of many scandals, failures, and disappointments. In today’s episode, Dylan talks about what happened to Credit Suisse. How did a bank with over 150 years of history collapse so spectacularly? What can we learn from this latest bank fallout? And does this mean we’re in for a repeat of the 2008 financ...
Mar 24, 2023•25 min•Season 1Ep. 50
The first step to staying on top of your finances is understanding where you are currently. A personal balance sheet can help you achieve precisely that. But what exactly is a balance sheet, and how can you put one together? In today’s episode, Dylan walks you through creating a balance sheet so you can better plan your budget and set goals for increasing your net worth. Show Highlights [02:03] The importance of creating a balance sheet [05:32] What counts as assets? [11:35] Why you shouldn’t vi...
Mar 21, 2023•25 min•Season 1Ep. 49
The tech industry is facing yet another challenge as its go-to bank, Silicon Valley Bank (SVB) collapsed last week. Once a major lender to VC-backed startups, SVB is now the second largest bank in US history to go under. The bank’s shocking failure immediately followed the collapse of Silvergate Bank, which served as one of the two main banks for crypto exchanges, along with New York-based Signature Bank — another bank that regulators shut down Sunday in a bid to prevent a looming banking crisis...
Mar 17, 2023•37 min•Season 1Ep. 48
Budgeting is key to achieving financial independence, and at first glance, it seems like a simple solution to a complex issue. By understanding your monthly inflows and outflows, you can easily identify where you’re spending too much and cut down on your expenses or you may decide to pursue a side hustle for extra income. But as you go through the process of taking control of your financial life, many things will come up. This is an unavoidable part of the process, and it is the number one reaso...
Mar 14, 2023•27 min•Season 1Ep. 47
For humans to flourish, we need to find fulfillment in our lives, accomplish meaningful goals, and connect with others on a deep level. But if we want to discuss human flourishing, we need to first grapple with systemic issues that make us sick — suburban isolation, car dependency, and extreme individualism to name a few. In this Friday episode, Dylan shines a light on the anti-human society we live in, how it makes and keeps us sick, and the ways in which we can rebel against it. Show Highlight...
Mar 10, 2023•16 min•Season 1Ep. 46
