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25 January 2021 Multimedia

How to Make Smarter Decisions about Money

  1. Paul Sullivan
Paul Sullivan, author of the Wealth Matters column for The New York Times and the Money Game column in GOLF Magazine, discusses why it’s important for financial advisers to discuss money scripts with clients and for families to talk to their children about money. A lifelong golfer, Paul also shares anecdotes from some of the legendary pros, as well as a few things he learned after writing more than 500 columns about money.

The Take 15 Series is a collection of illuminating, short conversations with noted economists, best-selling authors, leading researchers, and successful practitioners on topics ranging from geopolitics and whistleblowing to irrationality and outlooks.

Episode Transcript (PDF)
Topics discussed:

2:00 – Launching Wealth Matters column in the financial crisis
4:13 – Lessons gleaned over 500 columns
5:42 –  Pauls’ favorite column
7:54 – Why do we have an aversion to talking to kids about money?
11:00 – Strategies for helping people talk about money
13:17 – Money scripts
16:00 – Paul’s writing process and how he keeps finding ideas
18:49 – Flops and mistakes in behavioral finance 
21:30 – Richard Thaler and The Thin Green Line
24:54 – Clutch and Tiger Woods
27:58 – Writing for Golf Magazine
30:48 – Paul’s favorite golfing character and his favorite golfing story 
33:06 – Ray of sunshine question 
33:48 – NASA question 
34:45 – Flight vs. Invisibility 

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