“True wealth is the ability to underwrite a meaningful life.”

My guest today is Brian Portnoy, CFA, PhD — the Founder of Shaping Wealth.

Brian is one of the world’s leading experts on the psychology of money. He has written multiple bestselling books, including The Geometry of Wealth, and has 20+ years of experience as an investor and educator in the hedge fund and mutual fund industries. He is a CFA Charterholder and earned a PhD at the University of Chicago.

Brian Portnoy discusses the emotional and psychological aspects of money and the pursuit of a meaningful life. He emphasizes the importance of understanding the connection between money and happiness, and how money triggers and amplifies various emotions.

Portnoy introduces the concept of funded contentment, which is the ability to underwrite a meaningful life, and highlights the significance of adaptive simplicity in navigating the overwhelming amount of information and choices. He also explores the four Cs (connection, control, competence, and context) that form the nexus of money and meaning, and how they contribute to a sense of contentment and fulfillment.

The conversation explores the concept of funded contentment and its two-step process: determining what is meaningful and then figuring out how to afford it. It emphasizes that contentment can come from experiences and possessions, but experiences tend to have a longer-lasting impact.

The discussion also touches on the importance of playing your own game in terms of wealth and investing, rather than trying to beat the market. Time is highlighted as a valuable asset, and the need to set priorities that align with the life you want to live. The conversation concludes with the idea that success is a life that is meaningful and aligned with your own definition of success.

Chapters:

06:30 Introduction and Early Life
10:42 The Emotional Aspect of Money
17:46 Funded Contentment and Underwriting a Meaningful Life
30:31 The Four Cs: Connection, Control, Competence, and Context
37:04 The Two-Step Process of Funded Contentment
43:20 Experiences vs Possessions: The Impact on Contentment
49:18 Playing Your Own Game in Wealth and Investing
57:50 Time and Money: Setting Priorities
1:00:05 Defining Success: A Meaningful Life

Blue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm’s employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.

Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

Information expressed does not take into account your specific situation or objectives, and is not intended as recommendations appropriate for any individual. Listeners are encouraged to seek advice from a qualified tax, legal, or investment adviser to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

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Brian Portnoy, CFA, PhD: Geometry of Wealth; The Search for Funded Contentment & Underwriting a Meaningful Life

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Brian Portnoy, CFA, PhD: Geometry of Wealth; The Search for Funded Contentment & Underwriting a Meaningful Life