17. Zo worden we elke dag misleid over geld: "Zelfs in de file laten we ons vangen"

40m 33s

The conversation delves into psychological aspects of money, investments, and behaviors related to wealth. Topics such as the Porsche Paradox, the significance of patience in investing, and the importance of discipline in long-term financial success are explored. The discussion also touches on the frugal lifestyle of Warren Buffett, emphasizing that true wealth may not always be visible. Furthermore, the benefits of going on a vacation without money, focusing on walking and exploring freely, are highlighted as an enriching experience. The dialogue provides insights into financial behaviors, investment strategies, and lifestyle choices that contribute to long-term prosperity and contentment.

Transcription

6643 Words, 38052 Characters

To guarantee the quality of our services this conversation can be recorded. Here we are. How are you? I just ate the cream from the ice cream. - How are you? - I'm doing great. - How are you today? - I'm fine, thank you. - How about you? - I thought so. - I have psychological problems. - I know that longer. You and Bert are one of them. Especially psychological problems with money. That sounds very serious. No problem. I'm going to try to make it not conceivable. Maybe not as conceivable as our previous experience. - What about my cream? - Your cream? We have psychological problems. We have to let Bert try. - At the tax centre around four o'clock? - We'll have to do that. Bert, start the intro. This is the funny thing about the Geldersvannisbott. With an euro it's all expensive. And the bank? That's in love. When will our loan be broken? A ministerial loan is just missing. I'm telling you, we don't have to do that. We have to settle it. How? We'll have to settle it. Ewoud, the people are in the mood to pay too much. Oh, what kind of stuff? We're going to do something about it. Ewoud, you learned a lot during our break. You found a fantastic book full of freckles. Yes, how am I going to do a real freckle stream? No, that's for later. I look all the way out, like every week. But I also found a fantastic book. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. I think I'll be able to do that. And you're going to read out now. Bert, I have to say that this episode is only going to take two hours. But I have to go back four hours. I have to look at her face. The workload and stress. No, I've read that book. It was filled with interesting lessons about how people deal with money. Why do they do that? Why do they do it wrong? And I've taken ten lessons out of it. I thought, damn, that's interesting. And I think you'll find that out. First, listen, then believe. I'll start with lesson one. It's a little bit theoretical, but it's very recognizable in daily life. Because you have people who are almost straight to each other when it comes to money. You have people who want to make money, you have people who are save. You have people who want to invest and you have people who have a lot to do with it. And that has to do with previous experiences. It sounds a bit like youth trauma. Yes, yes, yes, but is that it? Yes, it's coming close. The people who participated in the credit crisis or banking crisis between 2007 and 2009, I know that very well. A big panic. I was studying at Toonland, in 2008. A big panic. And especially if you don't care about what you're looking for, do me a favor, to crash parts, run up the banks, well, people were really out of money because if you're not prepared then it's a big chance to panic about everything that was sold to me. Yes, the result is... Perhaps it was a scream, and since then, a lot of trust was put on the other hand. Now, once the credit crisis was over, we actually saw a few unknown victims, people from our age, and young people... they saw me in the heavy corona dip, it was a very short dip, actually made a heavy crisis. So you see, young people, our age, and young people, I think they are much more involved, but much more positive. Maybe thanks to that public podcast, that you've talked about. Yes, we see that here on the election as well. I know a few colleagues that had invested in Lernaud and Houspie, and who, after the crisis, said, "Since then, we've just used a few books, no more thoughts, we've just used a few books, and no more." Yes. And you saw that? Can you find it? I think so. Yes, I know. But you have to have a natural reflex and look, that's what counts. And also the emotion curses out. Yes, it does. So, in the beginning, they've already forgotten how to do that. Less 2. At the same time, it can be dangerous. No, because people sometimes take really dirty decisions with money. And the more there is a greater risk. Just tell me. You've spent the whole life with your Duster. The number one buys Duster. Yes. Yes, yes. In one way or another you have enough money to buy a BMW. Do you do that too? Okay. The chance is that you're less satisfied about your BMW. Then you're 10 years satisfied about your Duster. And the danger to buy a BMW is often bigger than the danger that you had when you had a Duster. You always want more and more. But how come that you don't like it? No, that doesn't mean that the difference between the Duster and the BMW is much bigger than the difference between the BMW and the bigger BMW. So why isn't a drink more bigger? Well, the researchers are convinced that it's possible to compare ourselves with what others have. In itself, there's nothing wrong with it. So it's very natural. And when you compare yourself with others, that's the positive aspect, but that's the problem. We're mainly determined to compare ourselves with who does it better or looks better. In some cases, he does it worse. Or looks worse. And in that way, you create a recipe for disaster. The consequences are known, that you won't be able to pay your debts or you already have a lot of money to take bigger risks and to have a bit more to end up failing and losing everything. Painful. Very painful. And it's also remarkable that it doesn't matter if you've got the money, for example, via an orphan or if you've worked for it. Because if you've got it, you're done. You can't do it otherwise. And if you've worked for it, what will you do? I've earned it. Exactly. So if I'm doing it right, it's just one good solution, and it's not just about people who have more or better but about everyone else. Exactly. It's about everyone. I understand that. You can be very satisfied about your loan, but if you pay the loan of your neighbour and if it's 500 euro more, you won't be able to pay the loan. I say the same thing. Yeah, yeah, yeah, yeah. Crazy. Less 3, the Porsche Paradox. Is that why people with the thickest cars work less here in the parking lot? No, no, no. It's a term I've thought of. I actually thought so. I thought so too. I thought so too. I'm proud of that. It sounds great, right? No, but it's also a weird psychological tingling that makes us unconscious. And our good friend, Hausell, used a well-known example for that. It's not about making cars. People who buy a cool car because they think they're cool. I know one of those that's in a Tesla Model S. A dark blue one. I knew it! I knew it would come. I knew it would come. For the thousandth time, I bought this car and bought this spot. I bought this spot. It's a life-threatening supercharger with Tesla. It's a good purchase. That's a duster. Yeah, but... That's a... I'm not kidding. It's a total frustration of the purchase. I calculated that in time. It came to me on a good purchase than a Skoda on diesel. And that was 2.5 years ago. I looked for diesel. 40% cheaper than now. Christoph bought a Tesla because he wanted to be a serious guest. I'm a serious guest. No, come on. I'm very serious. A Toyota? A Volkswagen. No, but it doesn't seem to work like this. What do most people think when they see someone driving around? Take away the Porsche. Tesla? Tesla... Porsche? Don't interrupt me. You're not a serious guest. What do most people think when they see someone driving around? They think about who's behind the steering wheel, but they immediately think, if I had a car like this, then people would think that I was a cool guy. But that's of course not true. If they're behind the steering wheel, then another person won't be able to look at you. But if they immediately think that if I had a car like this, I would be a cool guy. So nobody cares. So if you think that you get admiration or respect because you're in a chic car, then you forget it. That's not how it works. -No, indeed. No, admiration and respect, you only get it through podcasts. Did you get all the admiration from it? But what's even more serious is the research. If you really ask people the basic questions about what a real rich man is or what his biggest advantage is, then the first answer is to do what I want, when I want. Freedom. -Yes, freedom. Most people actually want to be free and comfortable, but unconsciously we're forced to leave because of what they call, for example, the Porsche that is next to us in the... Porsche that is next to us in the United States. -Okay, the Porsche, Padox. Interesting. -Yes. Number four. "Geduld is more important than understanding." You're right, Christophe. Well, we've talked about it a couple of times. Together with interest for the many, and yes, there are many, new listeners, check our first season for sure. If you're working on it, you'll do it on the 1st of February. Call us, call the listeners, we'll call them. "Hurt on, here we come." But together with interest in a country, it's as simple as it can be. You put your money somewhere, put it on, invest it on fixed basis, and you just let it run, put it on, do your work. No matter how risky you want it to be, but if there are always people tied up, but even with careful considerations, the notes your bank, which you put on a few percent a year, you can earn more money than you probably could have thought. It's a bit like the Holy Grail of the long term. It's relatively perfect logic. It's been proven countless times that it works. And yet, it has become a particularly difficult task to work in our hearts. I immediately heard the uncle on the family party. Is that how simple it was? Yes, exactly, exactly. Because that's the standard reaction you get. But it's not important. It's not because it's simple that it's easy. It's hard, isn't it? - Now I'm confused. No, but the assignment puts your money in a good place. Keep it easy to invest, and you have a goal. It's simple. But to keep it up... - It's not easy to bring the discipline up effectively and to have a goal. And people just don't get together. We rather have a quick reward, something we can get directly in our hands, than a lot of money within 20, 30 years. That's like the Marshmallow experiment, right? Sorry, no. - Marshmallow experiment. No, that's an experiment at the University of Stanford, I think, in the '70s. When children say, "Here's one Marshmallow, and if you wait for a quarter, you get two if you don't eat it." And then they investigate how far those children have lived in the past. It turns out that the children are waiting for them to live a successful life. Exactly. Now it's coming back. I've learned that. That's what you said directly to Stijs. Marshmallow. We're still working on it. Are you a fan of the Kawapla? Kawapla? No, when I think of the family parties we just had. Shots that were already four o'clock in the garage, then the sun was shining. But honestly, with so many people around, oh, Ransig. Are you a fan of Kawapla? Well, no, I always say, "Do me a warm Kawapla than a warm Kawapla." Oh, that's funny. I'm sorry about my mom. A warm Kawapla. - Yes, yes, yes. Yes, yes. No, but you really want to do it. What are you talking about? I don't know what you're talking about. What are you talking about? Warm Buffet as an example. Now, Warm Buffet is really an investor who has even sat down at the party every time he heard about Vagman. It's really an icon in the investment world. His company is less known by name, I think. Berkshire Hathaway, still Tans. He's a behalf for friends. - He's a behalf for friends. He's still the eighth largest company in the world. Where did they put his money? It was an investment fund. They put their money in Apple, Bank of America, Coca-Cola, Kraft Heinz and other gigantic companies that are there. Now, Warm Buffet, only known by name, probably thinks, "Oh, that's a very bad person. Top icon, only good deals done. Done." Yes, of course it's a bad person. He knows good deals done, of course. But it's probably the most important factor in Warm Buffet's success. It's the fact that he started very early on with betting. That's pretty funny, because he started on his 14th. 14th? - Yes, with money. He earned that when he was a young man. And he just kept investing. And he also just became very old. So that doesn't really matter. Buffet is currently the 91st year and currently the 5th richest person in the world, with a capacity of $117 billion. Holy. - Yes, indeed. But 99% of all of that is just spent after his 50th birthday. 99% and it was his 14th birthday. - It's a lot for me. Yes, it's a lot. - 15 years to go. Even though he's still the strongest on his 83th, he was still $6.5 billion. That's a lot, isn't it? So more than half of all that money is spent during the last eight years. And he says the same thing. You really don't have a high IQ to be rich, but you do have a good sense of discipline. Again, a lot of money for a year's worth of money. Less five. Someone who is rich doesn't recognize his shoes. Yes, that's true. - You should look at your shoes. I only see a three-double sole to get a bit higher. So what? Someone who is rich doesn't recognize his shoes. I think that's enough for the hands. I think so, but it seems that psychologically, it's still a difficult thing for people. But if you have shoes, are they also a bit rich? No, people, especially young people, don't really recognize them quickly. "Oh, check this out." They do wear shoes, but they don't have to have money. If someone comes with shoes or shoes, they won't suddenly realize that they might be rich. Yes, it's a big mistake for the hands. Because the real wealth that those people have is of course the one you don't see. Oh, yes. - Simple way. It's not done yet. - Yes, sorry. That's logical, isn't it? - It's smart. In my opinion, six years old, by the way. Oh, come on. - Okay, great. It's proven again. - It's proven. But I'm not going to use you as an example. I'm just going to go back to investing a bit better than you. Warren Buffett. As rich as the sea is, he wouldn't actually be as rich as a go-host. Maybe you have to ask him. - I'll ask him. He has his own money. - Yes, exactly. Those people are dead lucky. What would it be? It's 117 billion. So those people in 1991 have 117 billion dollars and they still live in their first house. In 1958, they bought it for 31,500 dollars. They're still driving around in a eight-year-old car. I looked it up. It's a Cadillac XTS. It was sold to me for about 45,000 dollars. That's a Tesla. - Yes, that's right. But it's terrible. I don't need it anymore, so why would I buy something else? Yes, and it's worth it. - Exactly, and it's worth it. By the way, have you ever heard about his life story? The YouTube link you sent me 200 times. Have I? - Yes, yes. Have I already sent it? Yes, you've already sent it. But it's a great story. So that means... - A McDonald's? Yes, yes, the last time you haven't seen it yet. Warren Buffett leaves work every morning. So in his eight-year-old Cadillac. And every morning, he's on the drive-in of a McDonald's for a maximum of three dollars and 17 cents. And every morning he's up. Look at his state of affairs. And the stock. And then he chooses how big his menu will be. If he says it less than that against his wife, you put 2.61 dollars ready. And then you take the small menu. If it's a stabile day, you take the middle menu of 2.95 dollars. And on a good day, the man with 117 billion dollars is really ready to be his wife, until the end, with 3 dollars and 17 cents to the McDonald's. That's a great story. Exactly, that's a great story. It's not a mistake in our new rubric. Ola, is it time for that? - Yes, I'd say so. Kistof, are you going on vacation next week? I hope it's going to be the same last time. I haven't made any plans yet. I hope it's going to be the same this year. I hope with you, but it can also be quite cheap. According to the book, how do I become a real freak when I've tickled my head off a while ago? We don't have that. Walking on vacation is the tip. Walking on vacation. What's more exciting here is that there are no money on the bag. You don't have to take the bag for a long time. You can start the vacation at the front door. On the left, on the right, or maybe on the right. The trip stick determines the direction, guys. What's that for a zebra? So your vacation starts when you leave the door. Walking on vacation is the ultimate sensation. Your only prerequisite are good hiking shoes. And eventually bus or train. Each line knows its own country roads and beautiful places. That's good, right? - Yes, guys. When I get out and I have to choose between the left or the right, I'm just going to go backwards. You're going to sit in a Tesla and then you're off. Yes, actually. The kilometers, I'm just saying, I'm going to go backwards. You have to pay for everything. On vacation on vacation. Camping is on vacation with friends and acquaintances. The cheapest way to spend the night, but not everyone can or doesn't want to. Even for them, there are sufficient other options. Then we go back. Our friends come every year to camp with us in the garden. That's just during the vacation. That's also a tip for people at home. Okay, sorry. That's a tip that comes from my heart, not your book. Wait a minute. Sorry, we have to go deep. That's a family that says, "Ah, could we camp in your garden tomorrow evening?" And then they come out of the tent and say, "I'm going to go left." And then we say, "We're going to the toilet." Yes, that's when they... Okay, bizarre. Sorry to say that, but... On vacation, younger people are already dependent on all living things. So you can do that of course, even at your age. You can be a younger person. Hello, fellow kids. And there are always other options for the night, with particulars and farmers. So you can just lie in the stables between the cows. Isn't that nothing for you? No? - No, no, no. I'm already sitting between the cows and the... No, leave me alone. If you serve coffee and tea yourself, with a camping stove on the side of that beautiful van, you have the vacation of your life. Yes, mate. I hope that your children will listen to you and say, "Dad, we're going to lodge at the farm." If you please, this vacation. And that you then have to come along with your camping fire. Yeah. - That's the fun. Sweet, sweet. I think you can better write down the rules, I think. That's what I wanted to know. Oh man, where were we? Until the vacation tip of FreckStream. Where were we now? 0.6. - 0.6, yes, 0.6. Less 6. Riding with your money is better than racing with your money. I find that strange, because I would think that you have to deal with racing with money. Yes, I thought so. I'll follow you, I'll follow you. But what our friend Hazel wants to say to me, is that you can't keep up with it to just jump with money based on numbers and figures. So just a little bit of emotion. Yes, yes, yes. Emotion, yes. Some people who start with betting or budgeting and they really go all the way and keep going all the way. That's good, but in reality you probably don't want that. If you start with that, it's a big chance that you'll get a good result, or even with a burnout. Numbers and figures are the basis for it, but of course you also have to live. Say a man with an Excel file with a month's budget up to his 60th birthday. Yes, but numbers, you also have to live a little bit, people. Yes, yes, yes, but that's something else. That's something else. Actually, that's enough. Yes, but no, in the beginning, I did have that. That's a maniac, that's how it is. But now I look at that file one more time per month and if there's something else than my budget or something like that, I just have to put it in so quickly. And then it all automatically jumps to my pension. So yes, I'm really not going to get a burnout from that. From Berthier against that. Yes, I don't know. It's too much for me now. We're almost at four o'clock. Yes, yes, yes, yes. Point seven, let's do it quickly. Plan in that your plan will not go according to plan. Is this also an advertisement to become a plan-owner? That costs too much. But no, no, no, this is actually about the safety of the margin or the safety of the buffer. Yes, that's one of the most underestimated elements in the world of money, whether it's about investing or managing your household budget. You have to build it, right? You always have to pay 100% extra budget, I think. Yes, yes, yes, yes, yes, yes. Yes, it's not to laugh at, actually. No, but look, yes, indeed. And you have to be a buffer so you don't have to deal with it in a misery. Now, in some way, you can get it a hundred times. That's going to get out again to many people, one ear in and the other ear out. But without any fear, you will never get your money. Because what's going to happen? It will never be against one. That's just nothing to do. It's on the edge, it's on the side of the coin. It's on the side of the person, so you see a difference. Yes, what then also, it makes all parts of life. And you actually have to, no matter what, have a note that says at least three idealities, right? Six months without income. So that's six times your net income. Yes, yes, yes. - Your net income. Yes, that's a hard first step. You will die, I know. It's not pleasant at all. But everything starts with that. It's difficult at this time, but once you have that, you're really left out. Now, it seems to be a psychological problem for most people if it's about a safety buffer like this. They don't keep any difference between what you can do on paper and what you can do emotionally. And that's a thought exercise that you can only make for yourself. Because that's totally personal. For example, you can take that book. You can prepare paper for a crash of 20%. But if that happens, are you going to... You can also do that. You're going to sweat it out if you sell it. Yes, you're going to sweat it out at that moment. Imagine you've already lost 100,000 euros. Great. You have a crash of 20,000 euros. Yes, 20% if you lose 20,000 euros. In principle, you say rationally, "I still have 80,000 euros." And I'm going to... - Just wait and sweat it out. But the day itself... - It happens. You suddenly lose 20,000 euros. Oh, my God! The chance is that you wait a few hours until it's 30,000 euros. Panic, take it. Oh, my God! Another example. Imagine you've already lost 20,000 euros and you've already lost 2 years. On your ration. A buffer of 2 years. You say to your boss, in our case, Pascal and Isbeth, "I'm going to do something else. I'm going to chase my dream." And we'll see what happens on my path. You've given yourself 2 years to do that. Now, you've lost 7 months. You've given 7 months purely on that savings. Look, it's already 30% of that money gone. In itself, on paper, no problem at all. There's still 70% left. And you still have 17 months to go. But when the stress comes up, that pot that you hear... It starts every month, every day. Every month, it's getting smaller and smaller. And every month, it's being stretched. It's your termination to make your dream come true. To take the pressure. Well, the chance is very big that you're already 7 months old. All those beautiful plans about the boat and my hanging boat back to Pascal and Isbeth in our case. It's making my knee ache. Please, please, take it back. I don't mean what I said about paper and toilet paper. It was just to laugh. Please, please, please, please, please. Pascal has already taken a big step. No, please, take it back. - You don't have to lie either. Yeah, that's not fair. That's not fair either. Over to point 8. Don't prove to yourself that you're older. Hey, what? - Yeah. Yeah, like... - Installable. Yeah. Now, what's the big depression of 1929? The banking crisis in 2008. World War II and all of Corona. I'll tell you. Four events that the society has completely changed. They also had a huge impact on the financial markets. And no one had the chance or at least not the impact they could play on. And yet, we prove to ourselves that we actually had to see things. But that's not the case. It's a bit like Bart Peters' song. It fits behind everything he knows about the past. Oh, does he sing? - Yes, he made a song about it. I thought you were talking about Bart Peters, but... Do you still sing? - Personal money. Does that hurt? Yeah, look, Bart Peters has a positive surprise. A positive surprise? - No, because it's exactly that. People don't know what's going to happen. You can start putting ban on people. And you can prove to yourself that you could have known sooner. But that's not possible. - That's not possible. Imagine the famous Black Monday in 1987. The Dow Jones fell 22.6% down that day. What were you doing at the time? I was doing my pampering. I was one year old. You weren't the only one. - Me either. They were full-fledged. - A hot buffet. Yeah, that's possible too. I don't know, but I don't know. Don't you dare to do all that pampering? No, but if you're in a panic and start selling or you've put yourself in the lead, that's going to happen. Yes, I hope so, because then you won't buy anything. And not on the other hand, just keep buying on your own. Now, an interesting number, and actually a very hallucinating number. Imagine that you invested in the S&P 500 in the last 20 years. You know, the 500 biggest companies, American companies. But you missed the rise of the four best market days. Then you would have received 164% interest. While if you just saw the storm and all highs and lows just go down. Then you received 291% interest. But that's a difference of 127% just because of the four best days to go. So please, don't prove to yourself that you're more visible or that you have something of the financial market in your hand. I don't know what the market will do tomorrow. You don't know that. Warren Buffett doesn't know that either. You don't know that either. - Good morning. Yes, sometimes he does. But the things that will do the market in the future, that will be things that you just won't be able to come up with. But everyone will say, "Oh, yes, that's what we need to know." That's what we'll need to know. Typical human, but also typical mistake. Don't do it. That brings us to point nine, optimist until the end of the year. Also a very crazy crown. People are, if we're talking about money, denied to be pessimistic. Morgan Housel always has a few examples in his book. But look, we're on the newsboard and we know that too. If we were to publish an article online tomorrow with 10 reasons why the stock market will crash this year, then that would have a much greater effect than 10 reasons why the stock market will go bankrupt this year. Selling bad news. - Yes. Drama and negativity. They have a big impact on people. And money is not an exception. Now, how does that come about? I actually didn't know that at Silvia, but that would make sense with our survival instinct. That is a kind of insurmountable defense mechanism. Because pessimistic messages come back in and become optimistic. Housel says to paraphrase, "Optimism sounds like a naïve sale." "Pessimism sounds like an intelligent person you want to help." An intelligent person. Do we have that in this room? But there is a second reason why pessimism plays our psychological role when it comes to money. A big counterattack happens suddenly. But the reason for that is that it takes a lot longer than 99% of the time. It happens very rarely that something crashes into the bottom and flies back to the top. Then it takes longer to go to the top. Now, because of the big counterattacks, crashes, war, a sudden pandemic, suddenly and drastically, it's much easier to make a exciting story around it. It gets a lot more attention, also in the media. So more people get it. Yes, I always think that if the Bitcoin is 30% cash or something, then it will be full of articles, but if the Bitcoin returns a week after that, then it was just not said. No, no, indeed. If it returns a day after 30% of the time to the top, then it might be possible. Yes, indeed. If we are not a fan of Bitcoin, then we are already out in this season, but it's a good example, it's a good example. Okay, thank you. So, a negative story, it has much more chance to stay in our heads. And if you have to make a story about the future, that's harder, because you also sit with unknown factors. We are at the right time, but I myself don't know if you're a clear seeker. You sit with unknown factors, your main focus is less dramatic, you get less attention and it just stays less hanging. Wait, but Christophe, are you just saying that we shouldn't have to read more newspapers? No, no, no, so far... So far it's a podcast about the new platform, the good newspaper that people should buy every day. So far I wouldn't go. No, no, I would smoke with the head office, I wouldn't like to spend a few years on that. No, but if... - You have to have a date for a book. A team meeting. - A team meeting. But the conclusion is, keep it in mind that we are programmed to think pessimistically about the money. And if you know that, you can correct yourself and take a little distance if it goes wrong. I would say that's my idea, not hers. You're going to do that now. - Yes, but it's the same. It's not only about money, but also in general, in life. Always look on the bright side of life. Don't be pessimistic, it's a bit optimistic. If that's not a good conclusion. - Oh, conclusion, I was just saying. You're going to do ten, then you're going to lie down. - How? - Uh... - Yeah, uh... - I can tell you that. - I can tell you that. - How can I tell you? No, no, no, I didn't calculate that. Who can better us play the ultimate lesson than our favourite neighbour, Ewaad? Because do you know what I'm going to ask myself? What are you going to tell us about that? A hapsychology. I know everything from flair. Do you know who also has flair? My new friend Jordy. He's a de-trader. I think I'm going to start all of a sudden. End of quote. Oh, is that from Straat, Christophe? - Yes, it is. Is that Jordy, the cook from in the kitchen here? I don't know. He comes around two hours later. I only see a bald figure coming in. A stick against the jacuzzi. - Yes, yes, yes. No, you have a chance to look. Well, Karin, I wish you good luck with Jordy. Not all of the cavataria here, but you will have a big challenge against a special lesson about psychology and money. Namely, think well about what kind of person you are, or, as always in psychology or in manhood, think well about your personal financial identity. I'm sure you're going to get some Ingeborg vibes. Yes, that's true. - Ha, ha, ha. Yes, yes, yes. - Ha, ha. With you, you always have to be emotional. You have to find out what kind of person you are. The best advice is to keep the man who has to sell a book. Read books, financial experts, look for things to learn. I'm not going to listen to that anymore. Listen to us, and, as I said, read on 20 different devices. I don't know what our numbers are. But it's like this, learn, do your research, listen to what other people have to say, but never forget what you want yourself. And what your plans are. If you're willing to invest in your convenience and safety for 20 years, then do it, and don't let anyone else with one of the questions, de-treatment or crypto plans do it. But you do. That's not a nice solution. Almost four o'clock, guys. We still have to tell. - Yes, we still have to. I can tell. I'm completely full of milk. If that's not a nice bridge. If that's not a nice bridge. Because, Ewa, what are you waiting for today? Yes, you're right, Christof. Milk. I have... - Sorry, my stomach is like this again. Last time, I love that it came out of your stomach. Last time I had to study the recipes from Pannekoeken and I didn't have to make any calculations. I even read all the ingredients. In the end, we came out of it. What was it again? My Pannekoeken were clearly the best, the best quality. If you're a diplomat, you'll get a lot of money. But then I'm also going to look at the milk prices. I was there in the Carrefour. The cheapest milk bottle of the brand Simple, the cheapest of the Carrefour, 0,72 euros per liter Belgian milk. Now you also have Campina milk, full milk, 0,5 euros per liter, that's more than a cup. - That's... Also Belgian milk. Now, imagine your family. I don't know how much milk you spend a week. I don't know. I have a bottle of milk. - I have a bottle of milk. I think it's a bottle of 0,5 liters per day. You buy that bottle of milk. You know it's much more expensive. No, no, no, no, they're 0,5 liters. - Yes, yes. No, no, no, no, no, no, Ewa. So imagine that you consume half a liter per day with your family milk. Then you can, by switching to a cheaper milk version, save 100, 42, 35 euros a year. And you think of 140 euros. - No, no, no. Yes, that's more than 10 euros per month. Actually, I switch from milk and my Netflix is paid. Yes, be careful. I can't say the prices again. Can you? - Yes, and you can't share it anymore. If you see, you're going to explode. Lapp, I have to go to my Excel file. Yes, I'm also going to say the prices for ten years, the difference in ten years. Yes, for the dramatic effects. 1,400, 23 euros and 50 euros a cent. That can count. - That can count. We are still Christoph and Ewa out. We have come to the end of this episode. Ha, ha, ha. Yes, you can also follow us on Instagram, @VrolijkeVrecken. And you can find all our episodes on Apple Podcast, Google Podcast, Spotify and of course on newsplot.be/VrolijkeVrecken. Do you have fun savings tips, suggestions for subjects, prangene vragen, complaints about our producer Bert, and more than on [email protected]. What are we going to do next week, Ewa? I don't have a lazy idea yet. Oula, I've already seen Bert, pessimistic, look. That's good, and we really have to delay it now. Yes, and in the end, optimist until the end. Optimist until the end. VrolijkeVrecken is a podcast of the newsplot. The voices you hear are from Christoph Bogaert and myself, Ewa Huysmans. The editing was done by House of Media and the production was done by Bert Heyvaert. The VrolijkeVrecken are professional entrepreneurs in this podcast for me, you guys, or financial advice. Every day at McDonald's, you can apply for health care. (upbeat music)

Podcast Summary

Key Points:

The conversation covers psychological issues related to money and investments.
The Porsche Paradox discusses how people buy expensive cars for perceived status.
Patience in investing is highlighted as more important than understanding.
The importance of discipline in long-term investing success is emphasized.
The concept that true wealth is often not visible, focusing on Warren Buffett's frugal lifestyle.
The benefits of going on a vacation without money and exploring freely are discussed.

Summary:

Furthermore, the benefits of going on a vacation without money, focusing on walking and exploring freely, are highlighted as an enriching experience. The dialogue provides insights into financial behaviors, investment strategies, and lifestyle choices that contribute to long-term prosperity and contentment.

FAQs

What is the importance of guaranteeing the quality of services?›

To ensure a high standard of service and customer satisfaction.

What are psychological problems with money?›

Issues related to how individuals perceive and handle money.

How can one avoid financial crises?›

By learning from past experiences and making informed decisions.

Why is patience more important than understanding in investing?›

Patience allows for long-term gains and successful investments.

How does Warren Buffett's approach to wealth differ from common perceptions?›

Buffett's frugal lifestyle and disciplined investing strategies set him apart.

Why is it difficult to recognize true wealth in individuals?›

True wealth is often hidden and not necessarily reflected in material possessions.

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