*takes deep breath*

Guys, I tried my best to keep this episode under an hour, but fate intervened.

It turns out Americans have been asking the wrong question: The question is not, “What’s the difference between the ‘haves’ and the ‘have nots,’” but rather…“How did those in the 0.1% end up having it all?”

To paraphrase my guest, entrepreneur and venture capitalist Nick Hanauer, “How do [rich people like me] manage to grab an ever-increasing piece of the pie? Is it because rich people are smarter than we were 30 years ago? Is it that we’re working harder than we once did? Are we taller? Better-looking? Sadly, no. It all comes down to just one thing: economics.”

My thesis? Capitalism is the economic system that creates wealth, and good economic policy is what ensures that all that wealth doesn’t accrue to a very, very small group of people.

We talk about everything from Milton Friedman and Reaganomics and deregulation to the prosperity gospel and the pedestalization of the ultra-rich.

Is this my glittering magnum opus? Quite possibly!

Listen now on your favorite podcast player, or catch the episode on YouTube!

The glorious TikTok algorithm served me a video the other day. It was from a sex therapist who opened with, “Most couples who come to me say, ‘Our marriage is perfect, except for our sex life!,’ and it’s almost never true.”

She goes on to explain how—much of the time—when a couple believes they’re no longer sexually compatible, it’s usually the physical manifestation of something else. An uneven power dynamic, a lack of emotional intimacy, a trust issue…the list goes on.

The video stuck with me, because money is the same way.

To a hammer, pretty much everything looks like a nail. To a personal finance writer, cash seems to be the cause of (or solution for) pretty much every problem.

Of course, for people who are living at or below the poverty line (or really, anywhere within walking distance), it actually might be about money—but money has a way of masking and distorting problems that have almost nothing to do with the number in your checking account.

“Just one more year”

In the FI/RE community (and in retirement planning more broadly), there’s a phenomenon known as "one more year" syndrome. “One more year” syndrome is what happens when you finally cross the glorious finish line of your illustrious financial independence number (i.e., the amount you need to retire), then promptly twiddle your thumbs on the other side of said finish line and ask, “But are we sure it’s time to quit? What if I just gave it another year or two?”

The reasons vary and sound reasonable enough: Leaving the workforce during what are likely your highest-earning years. An unpredictable future of expenses that are hard to estimate (like healthcare or housing while in a tenuous market). The belief that just giving it “one more year” will make you feel more secure.

“One more year” syndrome is not about money. It’s about a sense of security.

And when you’re turning to your brokerage account and asking it to provide you not only with all the things it can buy but also with an indelible sense of safety, you’ve officially crossed into dicey territory, because you’re asking money to fulfill an emotional need.

Keep reading to learn a tactic I like to use to address this type of not-really-about-the-money money problem.

Book. The Privatization of Everything: How the Plunder of Public Goods Transformed America and How We Can Fight Back by Donald Cohen and Allen Mikaelian. This book is blowing my mind—if you’ve ever wondered when (and how) the US transformed into the hyper-individualistic, consumer-centric country it is today, this one’s for you.

Podcast. “Alignment & Adjustments / Scott & Taylor Rieckens” from ChooseFI. When I started my FI/RE journey a few years ago, I read Scott’s book, Playing with FIRE. In this new interview, he and his wife reflect on how their approach to FI has changed post-pandemic (and the way in which “identity” and “money” are so wrapped up in one another).

Blog. “How Do the Wealthy Invest?” by Nick Maggiulli. Correlation does not equal causation, and Nick’s larger point—that studying the behavior of wealthy people as though it explains how they got wealthy—misses the point. See also: When people point to Warren Buffett’s Omaha home and McDonald’s habit in the same breath as his status as a billionaire. W. Buff ain’t a billionaire because he frequents the Dollar Menu, guys.

The Devil’s Hour on Prime Video. Talk about a mind-melting brainf***! File this one under “shows that’ll have you burrowing down a Google rabbit hole” for answers. Without giving too much away, it’s about multiple realities existing simultaneously.

The debut podcast episode of If Books Could Kill. At this point, I’ll listen to anything Michael Hobbes (of Maintenance Phase) makes. This episode—which dissects everything that’s wrong with the pop science hit Freakonomics—is a beautiful case study on how to critically consume media. I had to read Freakonomics for English class in high school, and I’m embarrassed to say some of its popular ideas firmly implanted themselves in my psyche.

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We’re less than two weeks away from the launch of the 2023 Wealth Planner and I am champing at the bit for y’all to see this masterpiece.

Over the weekend, my husband and I decided we're going to have a “company conference” to review our 2022 numbers and make some ~2023 projections~,  and the 2023 Wealth Planner’s charts will be playing a key role. This is adulthood.

Join the waitlist for product updates and an exclusive 15% discount. This bad boy launches on Black Friday! (Or catch the new tutorial here!)