Sound Investing
Weekly podcasts with Paul Merriman. Strategic planning for investing at every stage of life.
10
Christine Benz: Practical Retirement Planning from Morningstar's Top Expert
<p>This special two-part session opens with Paul Merriman solo — paying tribute to Tim Ranzetta of Next Generation Personal Finance, sharing the latest numbers on state-mandated financial literacy, and walking through Daryl Bahls' quilt charts to show annual earnings invested in the S&P 500, large-cap value, small-cap blend, and small-cap value since 1928.Then Paul sits down with Christine Benz — Morningstar's Director of Personal Finance and Retirement Planning, and author of How to Retire: 20 Lessons for a Happy, Successful, and Wealthy Retirement — for a wide-ranging conversation on how to actually make a retirement portfolio last.Christine lays out her five-step plan for an...
Larry Swedroe: The Evidence-Based Rules Every Investor Needs to Know | Bainbridge Financial Literacy Series 2026
<p>Paul Merriman sits down with Larry Swedroe — author of 22 books and one of the most respected voices in evidence-based investing — for a conversation that covers everything from the five factors that actually matter to why Bitcoin might go to zero.</p><p>Larry explains why judging your investment decisions by their outcomes is one of the most dangerous mistakes you can make, lays out the academic criteria he uses to separate real factor premiums from data mining, and reveals that he's made only three tactical moves in 30 years of investing. He and Paul use three eye-opening slides to show why cha...
PlanVision: Low Cost Flat-Fee Financial Planning for Do-It-Yourself Investors
<p>Paul Merriman sits down with Mark Zoril, founder of PlanVision, in the first episode of a new series spotlighting affordable financial planning options for do-it-yourself investors.</p><p>Mark built PlanVision in 2012 around a simple premise: investing isn't as complicated as the financial services industry makes it seem, and technology makes it possible to deliver thoughtful, unbiased financial advice at a price almost anyone can afford.</p><p>In this episode you'll learn:</p>What you get for $489 in the first year — including access to the eMoney financial planning platform and one-on-one advisor sessionsHow the $8/month ongoing subscription works, an...
Paul Merriman on Managing $1.6 Billion But Never His Own Money
<p>At 82 years old, I still work. Not because I have to, but because I want to.</p><p>I joined Brian Herriot and Kirby Denison on “The Time Freedom Podcast” to talk about exactly that. But we ended up covering a lot more than I expected.</p><p>Here's something that might surprise you: I managed money for thousands of people over 30 years and built a firm to $1.6 billion under management. And I have never once managed my own money.</p><p>Why? Because I know myself too well. When the market drops, I would second-guess everything. I'd probably hesi...
Q & A Deep Dive
<p>Q&A Highlights</p>How does a 4-fund portfolio compare to a 10-fund portfolio?<br>What is the best way to invest for a child’s future?<br>Is it too late to use a diversified strategy like the 10-fund portfolio at age 50?<br>Can I create and test my own custom portfolio using your tools?<br>How should I invest during periods of inflation or uncertainty?<br>What are some recommended fund options available at Schwab?<br>Is a portfolio combining large-cap value and small-cap blend a good approach?<br>Are there good alternatives to intermediate-term bonds?<br>Wh...
DFA & Avantis ETFs: Building the Ultimate Lifetime Equity Strategy
<p>Paul Merriman is dedicated to helping do-it-yourself investors build portfolios they can stick with for life. In this episode, he shares what he believes is the closest thing to a perfect long-term equity strategy he's ever seen.</p><p>Paul traces the evolution of index investing — from John Bogle's cap-weighted S&P 500 funds to the academic research of Fama and French, whose factor-based work showed that small cap value, large cap value, and other equity asset classes have historically outperformed the broad market over time.</p><p>For years, the best factor-based funds from Dimensional Fund Advisors (DFA) were on...
Flexible Retirement Withdrawals: Why Taking Less Can Give You More
<p>In this episode, we explore how flexible (variable) withdrawal strategies can strengthen your retirement plan—and why fixed, inflation-adjusted withdrawals may increase risk over time.</p><p>Using detailed distribution tables—including Table F1.3 (flexible withdrawals) and comparisons to</p><p> Table D1.3 (fixed withdrawals)—Paul walks through real historical outcomes across decades to show how adjusting withdrawals based on market performance can improve long-term results.</p><p>You’ll learn:</p><p>Fixed vs. flexible withdrawal strategies</p><p>Insights from Tables F1.3, F1.4 vs. D1.3, D1.4</p><p>How flexibility helps defend against bear markets</p><p>The role of di...
Boot Camp #6 Fixed Distributions
<p>In Boot Camp #6, Paul Merriman walks through real historical data starting in 1970 to test what happens when retirees withdraw 3%, 4%, or 5% from a $1 million portfolio — adjusted for inflation — across some of the toughest market conditions in history.</p><p>This episode covers:</p><p>The difference between retiring with “enough” and “more than enough”</p><p>How inflation quietly turns $30,000 into $130,000+ over 30 years</p><p>What happens if you retire into a bear market</p><p>Why 1% more in withdrawals can cost millions</p><p>S&P 500 vs. a globally diversified four-fund strategy</p><p>How diversification impacts lifetime income and legacy o...
2026 Boot Camp #5 Fixed Contributions
<p>In Boot Camp #5 of 10, Paul delivers what he believes is the most important session in the series—especially for new and early investors (teens, 20s, 30s, and anyone just getting started).</p><p>Instead of treating investing like speculation, Paul reframes it as building—or buying—a business over decades.</p><p>Using clear, data-driven tables and “fine-tuning” comparisons, he walks through a simple, repeatable plan: start with $1,000 per year (about $83.33/month), increase contributions by 3% annually, and stay invested for 40+ years. You’ll see how long-term outcomes change based on asset allocation (100% stocks vs. 60/40 stocks and bonds), and why diversification can m...
Bootcamp #4 |Fine-Tuning Your Asset Allocation for Retirement & Long-Term Growth
<p>How much should you really have in stocks vs. bonds — and what happens when the market turns south with a vengence?</p><p>In Boot Camp #4, we break down the fine-tuning asset allocation tables that show exactly how different combinations of equities and bonds have performed from 1970 through 2025. This episode goes beyond average returns and dives into what investing actually feels like during the worst 3-month, 12-month, and 60-month market declines.</p><p>You’ll learn:</p><p>Why equities have historically dominated bonds for long-term retirement investing</p><p>How the S&P 500 compares to diversified strategies like the Fou...
