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Wealth Advisor Reveals How Money Plays Tricks on Your Mind (Feat. Naftali Horowitz) | KOSHER MONEY

Think you know money? Think again!
Money has an interesting way of playing tricks on our minds and only those who are either gifted or trained will spot them!
Rabbi Naftali Horowitz reveals what EVERYONE should know.
TIME STAMPS:
00:00 Opening Remarks
02:31 Are Financial Behaviors Logic or Gut?
06:33 What is a Heuristic?
10:45 Heuristic #1: Representation Bias
15:54 Rabbi Horowitz's Favorite Study
18:15 Investing Pitfalls
19:57 Why Affinity Fraud Happens
22:00 Racism and Stereotyping
22:56 Sponsor: Twillory
24:12 Heuristic #2: Mental Accounting Bias
30:00 The Car Dealership Trap
31:55 The 2008 Financial Crisis
34:53 The Lottery Effect
38:29 The Credit Card Trap
39:10 Sponsor: Approved Funding
40:39 Heuristic #3: Regret Aversion
44:32 Regret and Investing
49:16 Sponsor: Colel Chabad
51:04 Heuristic #4: Anchoring
54:52 Anchoring Investing Mistakes
58:04 Recap and Concluding Remarks
1:00:39 Outro
If you have questions/feedback to share on this weeks episode, please email koshermoney@livinglchaim.com
✬ SPONSORS OF EPISODE 57 ✬
► TWILLORY: Get $18 OFF your first purchase of absolutely comfortable clothing for today's casual professional look. Use code CHAI (which means 18 in Hebrew) at Twillory.com/KosherMoney - Limited Time Offer, On a $139 Purchase. ENJOY!
► COLEL CHABAD: Please help Israel's neediest!
Visit www.ColelChabad.org/KosherMoney to make a much-needed donation!
► APPROVED FUNDING: Looking to purchase a home? Looking to get involved in real estate? Speak to Shmuel Shayowitz at approvedfunding.com/Shmuel/ to make sure you do it right.
Book Recommendations:
Predictably Irrational
by Dr. Dan Ariely
tinyurl.com/396zu2zd
Thinking, Fast and Slow
by Daniel Kahneman
amzn.to/3OFLzQa
Why Smart People Make Big Money Mistakes and How to Correct Them
by Gary Belsky
tinyurl.com/yc6r9cj8
You Revealed: A Torah path to a Life of Success
by Rabbi Naftali Horowitz
amzn.to/36fxXbK
(Please note that this book was written predominately for an Orthodox Jewish reader. Due to high demand the book sells out quickly but is usually back in stock within one week.)
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Oh, and again: all investment strategies and investments involve risk of loss. Nothing contained in this episode or any of our episodes and videos should be construed as investment advice.
#Money #Podcast #psychology #moneytips #economy

Пікірлер: 354

  • @hoopchowder3510
    @hoopchowder351011 ай бұрын

    I’m not Jewish but I have found sound much value in subscribing to this podcast. This is episode was especially insightful and I’m grateful for the content you guys are sharing. Thank u.

  • @hoopchowder3510

    @hoopchowder3510

    11 ай бұрын

    So much value !

  • @user-vd3pi7fz1j

    @user-vd3pi7fz1j

    8 ай бұрын

    Impactful

  • @otjuve
    @otjuve11 ай бұрын

    we need more of Naftali. May Allah bless him and bless you all for sharing knowledge

  • @kevinbarr9933
    @kevinbarr993311 ай бұрын

    Wow, Naftali Horowitz is simply the best I feel privileged to listen to his teachings and one of the best episodes ever! Thank you so very much Indeed!

  • @drsgopi
    @drsgopi11 ай бұрын

    the words of wisdom from Mr.Horowitz outshines any financial gurus out there!

  • @michaelzurek6312
    @michaelzurek631211 ай бұрын

    I know it would be probably hard and near impossible for Naftali to have a podcast channel or make more KZread videos due to all the work he does at JP Morgan Chase but it's always amazing to watch and hear him speak.

  • @tavarisjones551
    @tavarisjones55111 ай бұрын

    The field of behavioral economics is fascinating. Great talk.

  • @keonhercules
    @keonhercules11 ай бұрын

    I love how he gets more "Brooklyn" as the program progresses! Blessings to Naftali and thank you for sharing your wisdom!

  • @estherhersh2217
    @estherhersh221711 ай бұрын

    I listen to all of Naftali’s video 20+ times - every time I learned something new! I’ve only found about 5 videos on KZread of him speaking - would love more. keep teaching!!!

  • @ambition112
    @ambition11211 ай бұрын

    0:14: 🧠 The speaker realized that studying finance did not prepare them for the irrational behavior of investors and decided to learn about behavioral finance. 6:53: 😮 Our perception can be easily biased, leading to incorrect judgments and decisions. 14:24: 🤔 Representation bias is a common cognitive bias that influences decision-making based on what is visually represented or perceived. 22:08: 💰 The concept of mental accounting and how people make decisions based on different scenarios involving money. 29:26: 💰 Mental accounting affects people's decision-making when it comes to spending money and investing. 35:59: 😳 People often make irrational decisions when it comes to money, prioritizing emotions over logic. 42:26: 💡 Regret plays a significant role in investment decisions, causing people to avoid taking action and leading to missed opportunities. 49:07: 📊 Anchoring effect can lead to biased decision-making based on irrelevant numbers. 55:12: ✅ The speaker discusses cognitive biases that can affect financial decision-making. 1:01:39: 📢 The host thanks sponsors and promotes their products, asks for feedback, and mentions upcoming episodes in Israel. Recap by Tammy AI

  • @angusseletto1511

    @angusseletto1511

    11 ай бұрын

    Very good work 👏

  • @JenMarco

    @JenMarco

    11 ай бұрын

    You’re the best!

  • @luisarce6234

    @luisarce6234

    10 ай бұрын

    Thanks

  • @edumendes1965
    @edumendes196511 ай бұрын

    Absolutely brilliant!!! I can’t get enough of his teachings!!!

  • @aaronjennings8385
    @aaronjennings838511 ай бұрын

    Let's assume the cost of the ball is represented by "x" in dollars. According to the given information, the bat is $1.00 more expensive than the ball. So, the cost of the bat would be "x + $1.00". Together, the bat and the ball cost $1.10. Therefore, we can set up the equation: x + (x + $1.00) = $1.10 Simplifying the equation: 2x + $1.00 = $1.10 Subtracting $1.00 from both sides: 2x = $0.10 Dividing both sides by 2: x = $0.05 Hence, the ball costs $0.05.

  • @alex5308
    @alex530811 ай бұрын

    Naftali is such a great teacher. I love listening to him

  • @skqq3250

    @skqq3250

    10 ай бұрын

    Yes he is a great teacher. He dispels are the myths about money decisions. I would like for Kosher money to sponsor a trip to Israel every 2 years with Shalom Tours so everyone can meet up.🎉🎉🎉❤❤❤

  • @manoloborja388
    @manoloborja38811 ай бұрын

    I enjoy learning from my Jewish brothers. Very insightful.

  • @MTN99999
    @MTN9999911 ай бұрын

    Shalom to you all brothers and sisters. Mr Naftali is the real deal and I can attest and relate to everything he said. I have learned to hard way but over the years my mindset about the value of money vs time completely shifted. And until you get that Ahah moment the easiest and simplest things to do are oftern the hardest things to do however all worth it at the end. Good luck to you all and God bless. Shalom

  • @abethereal
    @abethereal11 ай бұрын

    This man and the teachings of the Torah have been a blessing to me. I purchased his book and it’s helped me improve many areas of my life. I can’t wait to sit down and watch the entire video.

  • @kalember37

    @kalember37

    11 ай бұрын

    So did I .

  • @mmp495

    @mmp495

    11 ай бұрын

    May I ask what book? I would love to read it.

  • @zakarie

    @zakarie

    11 ай бұрын

    What his book ?

  • @andreamorris1789
    @andreamorris178911 ай бұрын

    Love listening to naftali. This ìs one of the best talks I've heard.😊wish I was younger! Thanks Naftali. Andrea.

  • @YitzchakHorowitz
    @YitzchakHorowitz11 ай бұрын

    Anchoring has a big effect on people salaries. Often when asking for a raise or changing jobs we ask for an amount based on what we are currently making instead of asking for as much as we think we can get.

  • @Jiggysaw
    @Jiggysaw11 ай бұрын

    GREAT video, Naftali is a legend indeed. I learned so much from this episode, thank you for all your hard work!!!

  • @gragolawncarepatrick7058
    @gragolawncarepatrick705811 ай бұрын

    Naftali thank you for your guidance. We appreciate you greatly!

  • @durexuncensored
    @durexuncensored11 ай бұрын

    success comes down how you think

  • @nadiaMendizza
    @nadiaMendizza4 ай бұрын

    I would like to express my heartfelt gratitude to your channel and for the opportunity to listen to Naftali Horowitz for his captivating and enlightening presentation. Thank you for sharing your wisdom.

  • @Veganisbadhunter-wx5nt
    @Veganisbadhunter-wx5ntАй бұрын

    Man.... this is awesome. I have thought in my head nearly all of these money mantras/beliefs. It's crazy. A mind melt.

  • @144Donn
    @144Donn11 ай бұрын

    Great insight..and actually frightening how gullible the human being can be. But, knowing and being aware of our faults can help us overcome them. These ideas and concepts can be applied to many area of life. The ending about "regret" was one of the strongest messages. Fear really is the only thing to fear...and then walk through. Continued Yeshar Koach for your excellent and I mean EXCELLENT work!

  • @hackmedia7755

    @hackmedia7755

    11 ай бұрын

    very similar to a book called "how to lie with statistics"

  • @justovalverde2810
    @justovalverde281011 ай бұрын

    I would like to buy the speaker’s book. Such a great speaker and common sense advisor.

  • @abr7192
    @abr719211 ай бұрын

    Love the presentation! Mr. Naftali is my favorite presenter on this channel. He is always very insightful and candid.

  • @421sap
    @421sap11 ай бұрын

    Amen for the blessings. Thank you, Rabbi. Impactful!

  • @georgeleles3710
    @georgeleles371010 ай бұрын

    This is the best speech on money that I have ever heard.

  • @sajjanpaudel2820
    @sajjanpaudel282011 ай бұрын

    I am glad I found this video.. Thanks a bunch..

  • @Rentcollector
    @Rentcollector11 ай бұрын

    To make a long lesson short and to the point, don’t buy single stocks! Buy all in one ETF’s that are covered separately such as jepi, HYLD, svol and fire 🔥 your broker!

  • @couldbe8348

    @couldbe8348

    11 ай бұрын

    Big mistake

  • @MarjorieOcho

    @MarjorieOcho

    11 ай бұрын

    Impactful!!

  • @TheWhale1337

    @TheWhale1337

    11 ай бұрын

    Yup best advice for 95% of investors, but makes very little sense to those who actually understands how to value an asset.

  • @SK-ii4yy

    @SK-ii4yy

    11 ай бұрын

    Thanks

  • @MrPiedrapiedra

    @MrPiedrapiedra

    11 ай бұрын

    ​@@couldbe8348😊😊😊

  • @steele0strella
    @steele0strella11 ай бұрын

    It's amazing how well Naftali Horowitz teaches Torah at the same time as teaching finance! thank you Living L'chaim❤

  • @jesserosado6282
    @jesserosado628211 ай бұрын

    You all are awesome and I always learn so much from Neftali. I appreciate you for bringing this to us

  • @Heru2088
    @Heru208811 ай бұрын

    Thank you, For Sharing This Amazing and, Intellectually Behavioral of Financial Literacy very much impress with your Teaching Brother, Thank you Kosher Money., Blessings and, Great Health., to everyone at Kosher Money.

  • @jmc8076
    @jmc807611 ай бұрын

    Thank you for always sharing valuable insight on money Naftali and LL team. I watch videos and support those who can build bridges and understanding in humanity now vs further divide. Let’s respect each other’s views and beliefs. We share ~99% DNA incl with all life. Namaste 🙏

  • @clintcowan9424
    @clintcowan942411 ай бұрын

    Impactful. Psychology of money is very important

  • @constitutionalcarrot3720
    @constitutionalcarrot372011 ай бұрын

    Thank the algorithms this was recommended to me. Been binge spending since a death in the family. Advice I needed to hear, even if it wasn’t all the advice I needed to hear.

  • @njabulompofu667
    @njabulompofu66711 ай бұрын

    Glad you brought back the video, l have been looking for it

  • @TomArrrrr
    @TomArrrrr11 ай бұрын

    I stop and listen anytime I see his videos. Thank you

  • @davidbergamelli4773
    @davidbergamelli477311 ай бұрын

    Thanks for everything! Wish you all the best.

  • @mt8073
    @mt807311 ай бұрын

    Impactful! Thank you for this enlightening episode!!! Keep up the great content!

  • @m.showers1242
    @m.showers12426 ай бұрын

    Outstanding presentation with valuable content. I learn much and intend to watch again. Thank you!

  • @FilipeCardoso1
    @FilipeCardoso111 ай бұрын

    Always good to hear Mr Horowitz. 👍

  • @el-hp1lj
    @el-hp1lj13 күн бұрын

    Im a 44 year old trucker for Costco in NJ and Ive been really focusing on building my cash reserves and spending less. When it comes to money, I am scared of it more than I have ever been, since I've built up more than I've ever had before. Fear of losing it and having to start over. I actually deal with fear in many aspects of my life that prevents me from taking any risk at all.

  • @yonaunger
    @yonaunger11 ай бұрын

    Always with new strong points getting better every time. Thank you so much

  • @bogbrither
    @bogbrither11 ай бұрын

    A lot of the examples here are from Daniel Kahneman's Thinking Fast and Slow, in case anyone wants to go deeper into the topic.

  • @johnnymorawski6543
    @johnnymorawski654311 ай бұрын

    Love listening to this man talk money

  • @AliEbrahimian
    @AliEbrahimian11 ай бұрын

    Incredibly useful speech, thanks for sharing this.

  • @patrickhemmen
    @patrickhemmen10 ай бұрын

    Impactful. Thanks for bringing Naftali Horowitz back

  • @raylopez99
    @raylopez9911 ай бұрын

    Hey I got the ball and bat one right (I skipped the second one) using algebra. But only because I figured it was a trick question. Haven't done algebra in ages. As for the video, it's old news but vital. Not sure it has practical application however, since people don't easily change their minds.

  • @miltonmartins8217
    @miltonmartins821711 ай бұрын

    Very Helpfull speech by Mr. Horowtz!!!

  • @cskessler
    @cskessler11 ай бұрын

    Impactful. Thanks!

  • @pistopitpit
    @pistopitpit11 ай бұрын

    Presenting something as a bargain to trick you into buying something is a very easy to spot trick. It is because it’s a well and commonly known sales technique.

  • @sebastianw891
    @sebastianw89111 ай бұрын

    This channel, and Rabbi Naftali Horowitz, are treasures. Thank you.

  • @Lex41127
    @Lex4112711 ай бұрын

    Regarding the Heloc check, I can see why someone would pull the money to have it liquid and pay a "low" interest rate when the bank can close the HELOC anytime.

  • @andriimarchuk9649
    @andriimarchuk96498 ай бұрын

    One day after video in the morning I realised that I used the similar sign of mental laziness for my interview process. I never realised there such thing exist, and it was still possible to get thru but only by people who love the work and know approaches well. This is such novel information for me. Unknown unknown. Thank you for sharing this video.

  • @randomrickreviewsrrr4662
    @randomrickreviewsrrr466211 ай бұрын

    Wait just a minute! Did I just find someone telling true facts about money on KZread? Good stuff.

  • @adinoeznite6605
    @adinoeznite660511 ай бұрын

    Listen to naftali is always learning and Unlearning all i know about investing ❤

  • @LK-gl3rj
    @LK-gl3rj9 ай бұрын

    Some videos deserve a 'double thumbs-up' option.

  • @davidnkansah6523
    @davidnkansah652311 ай бұрын

    Impactful and insightful!

  • @mattadams3315
    @mattadams331511 ай бұрын

    Impactful! Thanks guys

  • @kalember37
    @kalember3711 ай бұрын

    Outstanding , eyeopening and excelent Thank you .

  • @summertime1977
    @summertime197711 ай бұрын

    Thank you!

  • @mrotinsulu1
    @mrotinsulu13 ай бұрын

    😂😂 the anchor really got me there! 😂😂

  • @jgreaders2451
    @jgreaders245111 ай бұрын

    Thank you very much for sharing.

  • @ThaiNguyen-cp1ue
    @ThaiNguyen-cp1ue11 ай бұрын

    Very great presentation, thank you so much!

  • @lunchbox6576
    @lunchbox657611 ай бұрын

    I wish he would create a recommended reading list.

  • @LivingLchaim

    @LivingLchaim

    11 ай бұрын

    We got you! www.livinglchaim.com/general-5

  • @jedidahcmelly4508

    @jedidahcmelly4508

    11 ай бұрын

    Great list

  • @geffeniz
    @geffeniz6 ай бұрын

    Thank you for availing this knowledge 🇰🇪

  • @skqq3250
    @skqq325010 ай бұрын

    I listened to him first time on Kosher Money. I never knew his name until today. So so glad for the content. So good!😊

  • @vansiam7491
    @vansiam74915 ай бұрын

    He is the best money advisor so far

  • @maneshroy4511
    @maneshroy451111 ай бұрын

    Impactful. Excellent content

  • @oceanstateyakfishing
    @oceanstateyakfishing11 ай бұрын

    Thank you for all your knowledge Mark

  • @alexmoss3228
    @alexmoss322811 ай бұрын

    This is all from the book thinking fast and slow. Great book

  • @Reggaeshark.
    @Reggaeshark.11 ай бұрын

    Give thanks for this brother, as a young man he definitely helps put things into perspective for me. May YHWH bless and keep him.

  • @Deewambui
    @Deewambui6 ай бұрын

    Impactful,keep up with the good work

  • @plato7771
    @plato777111 ай бұрын

    Very interesting talk. Well done!

  • @christopherk3569
    @christopherk356911 ай бұрын

    Impactful, such a great presentation, I just could not stop listening. I was shocked and my eyes are open again Thank you

  • @swaucepapi
    @swaucepapi11 ай бұрын

    The truth in this has offended me but also inspired a change of thought. This was good my boy!

  • @levelupii4663
    @levelupii466311 ай бұрын

    Impactful! 🔥🔥🔥

  • @veritas3179
    @veritas317911 ай бұрын

    Great lecture. Thank you.

  • @kevinb6123
    @kevinb612311 ай бұрын

    I’m still lost on the ball costing 5 cents I’ve always been good at math but it just doesn’t add up.

  • @edwintang763

    @edwintang763

    22 күн бұрын

    ($1+x)+x=$1.10; 2x= $1.10-$1 2x=$0.1 Divide by 2; x=$0.05

  • @frannelwokatega4057
    @frannelwokatega405711 ай бұрын

    Great advice

  • @SabathaShaunXaba-vn1wy
    @SabathaShaunXaba-vn1wy9 ай бұрын

    I'm not jewish and I started investing for first time because of kosher money podcast

  • @Kakanato
    @Kakanato11 ай бұрын

    I feel as i have read one of the books of Dan Ariely. Amazing!

  • @yountune9799
    @yountune979911 ай бұрын

    Thank you for sharing. Information is more impactful because it's given in a speech rather than in written form.... for most of us.

  • @TallerdeVitrales
    @TallerdeVitrales11 ай бұрын

    Impacful. Thank you very much

  • @scottgreen132
    @scottgreen13211 ай бұрын

    Wonderful video 🙏🙏🙏

  • @jimmym8348
    @jimmym834811 ай бұрын

    Impactful 👍💪

  • @Imawarrior
    @Imawarrior11 ай бұрын

    So much knowledge and wisdom from Naftali, thank you for sharing. God bless!

  • @dianajaramillo1073
    @dianajaramillo107311 ай бұрын

    Impactable !!!

  • @ProfessorMgtow
    @ProfessorMgtow11 ай бұрын

    This is pure gold🔥🔥🔥

  • @angusseletto1511
    @angusseletto151111 ай бұрын

    Lastly thanks Eli,youre invaluable

  • @Tealeafsong
    @Tealeafsong7 ай бұрын

    I needed this! Thank you :)

  • @RaquelD0
    @RaquelD011 ай бұрын

    Impactful ❤

  • @hsoley
    @hsoley11 ай бұрын

    great man, thanks for the content

  • @Hairitage2023
    @Hairitage202311 ай бұрын

    Truly "impactful" content!!

  • @righteousdivine
    @righteousdivine11 ай бұрын

    👏👏👏👏👏👏 Impactful! ❤

  • @chenadeleli5177
    @chenadeleli517711 ай бұрын

    Impactful!

  • @S_Edward_Burns_ArtsEditor
    @S_Edward_Burns_ArtsEditor11 ай бұрын

    My thanks. Carry on!

  • @josephrodriguez5218
    @josephrodriguez521811 ай бұрын

    Naftali Horowitz is an amazing speaker. His lecture’s truly make me think.

  • @sunilgokarn1242
    @sunilgokarn124211 ай бұрын

    Smart and impactful

  • @YH-ez7qr
    @YH-ez7qr11 ай бұрын

    Truly IMPACTFUL

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