Episódios
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Day trading is sold as the modern path to wealth, fast money, freedom, and financial independence, all from your laptop. But behind the flashy screenshots and influencer hype lies a hard truth: most day traders lose. In this episode of The Wealth Effect, the dream turns into a nightmare for the vast majority.
We explore the psychology behind the rush, the sobering statistics no one shares, the hidden costs, emotional, financial, and mental, and why most "trading gurus" profit more from selling hope than stocks. You'll hear about survivorship bias, the rise of machines, and the brutal reality of competing against algorithms in milliseconds.
Is day trading worth it? For 95% of people, the answer is no.
This episode is a must-listen for anyone tempted by the allure of quick gains and a cautionary tale for those chasing freedom through fast trades.
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In this Byte-sized episode of The Wealth Effect, we explore a powerful and misunderstood force in economics: the Invisible Hand. Coined by Adam Smith, this concept explains how individual self-interest can unintentionally benefit society as a whole, without planning or intending to.
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In this Pocket Byte episode of The Wealth Effect, we explore a crucial yet often overlooked aspect of entrepreneurship: investing beyond your business. An often overlooked pillar of entrepreneurial success is the investment portfolio. As an entrepreneur, you're already betting on yourself and your business. But what happens when the market shifts, clients pause spending, or growth stalls? As today’s episode reveals, building an investment portfolio is not just wise; it’s essential.
We explore:
Why business success doesn’t always equal financial freedomThe dangers of tying your entire net worth to one assetHow diversification can protect and grow your wealthWhether you're just launching or already scaling, this episode will challenge you to think differently about your financial future.
Listen in and start building wealth beyond your business.
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In this heartfelt and deeply insightful episode of The Wealth Effect, Dr. Kimberly Harms joins us to share her powerful life journey from a career in dentistry to navigating profound personal loss. A former commissioned officer in the United States Public Health Service and a successful dental practice owner, Dr. Kim opens up about financial experiences. This conversation goes far beyond money.
Dr. Kim vulnerably shares her experience of becoming a widow, the devastating loss of her son to suicide, and her path through grief, depression, and healing. She offers practical and emotional wisdom on estate planning, end-of-life care, and the importance of open communication with family to avoid conflict and preserve legacy. We discuss why planning for death is not about fear, it's about living with purpose and peace.
This episode is a moving guide on how to prepare practically for life’s most difficult moments.
🔗 Resources Mentioned
Dr. Kimberly Harms' website: DrKimberlyHarms.com Rethinking Death: https://rethinkingdeath.life/Upcoming book: Rethinking Death.Life -
In this episode of The Wealth Effect, we sit down with Julius, a digital content creator whose artistic vision is shaped by a life rich in culture, travel, and transformation. Born in South Africa during a time of great change, Julius brings a global perspective to creativity and entrepreneurship. We explore how his experiences with high-profile projects and his decision to become a full-time artist in 2021 have influenced his approach to content, brand building, and digital NFTs.
Website: https://fineart.juliusjooste.com/
Social Media: juliusjooste.com/contact
NFTs: https://fineart.juliusjooste.com/nfts/
Julius' Show notes: https://fineart.juliusjooste.com/articles/interviews/the-wealth-effect-an-interview-with-julius-jooste/
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Why do smart people make irrational financial choices? Why do we stick with doomed projects, failing investments, or toxic commitments, just because we’ve already spent money, time, or energy on them? You’ll learn the psychology behind sunk costs, including loss aversion and cognitive dissonance.
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In today’s episode of The Wealth Effect, we’re asking a question most people run from: How much is enough? Not what society says. Not what social media flaunts. But what you truly need to feel free, secure, and in control of your life.
This isn’t about chasing millions. It’s about redefining wealth on your terms. We unpack the psychology of “enough,” explore lifestyle tiers, cost of living, and how geography, mindset, and values shape your financial needs. Whether you’re chasing FIRE or simply want peace of mind, this episode helps you rethink what financial freedom really looks like. Not just in dollars, but in how you live.
If you’ve ever wondered what your freedom number is, or felt like wealth is always just out of reach, this conversation might change how you see the game.
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In this episode of The Wealth Effect, I chat with Nancy Ward, a passionate and purpose-driven financial coach helping clients break free from credit card debt without relying on traditional budgeting methods. Nancy shares her journey from personal debt and financial uncertainty. Nancy empowers families to prioritize their financial well-being with personalized strategies for a secure financial future.
Nancy brings a calm, compassionate, and practical perspective to financial coaching. Whether you're feeling stuck in your finances, struggling with money conversations, or just need guidance to create a plan that works—this episode will give you tools and inspiration to take your next step.
Links:
LinkedIn: https://www.linkedin.com/in/nancyward1/
Money Snapshot: https://www.nancywardfinancialcoach.com
Email: [email protected]
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Welcome Brian Parana!
More than a health coach, Brian Parana is a transformative catalyst who comprehends the intricate balance between professional achievement, personal well-being, and family responsibility.
With 20+ years of experience, Brian focuses NOT on a diet or just exercise but on empowering and building confidence for his clients. By blending science-supported strategies, relentless support, then a personalized plan is designed for each client to regain control of their health while building a career and support a family.
Coach Brian Parana’s "30 Tips in 30 Days" offers simple, actionable strategies to improve nutrition, fitness, and overall self-care.
Each day introduces one practical tip, empowering you to build sustainable habits, boost confidence, and feel your best without overwhelm.
Highlights Include:
Nutrient-packed meal ideas and grocery list optimization.Quick workouts and movement habits for busy schedules.Small daily routines like hydration and gratitude journaling for lasting health improvements.Ready to take control of your health? Visit https://go.brianparana.com/30days to jumpstart your health journey today!
Other links
www.brianparana.com
Social Media @coachbrianparana
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We Welcome Dr.Jose Mendoza!
Dr.Jose Mendoza got his start in cardiac surgical procedures assisting physicians. At the same time his path on nutrition, physical fitness and wellness began. After seeing people stay and return unwell, he sought a better way to help others. Qigong and energy medicine played a pivotal role.
Through rigorous study, he completed his 4 year doctorate in Chinese Energetic Medicine program with over 4000 hours in 2024. Jose has also received instruction in physical fitness as well as nutrition and herbalism.
By blending ancient healing wisdom with cutting-edge scientific knowledge, Jose guides clients on transformative journeys of physical, mental, and spiritual healing. Using his vast understanding of the interconnectedness of the physical, energetic and spiritual, he empowers individuals to take charge of their health to unlock optimal health, vitality and profound shifts in their lives.
Contact Information:
Website: risetohuman.com
Instagram:@JMDCEM
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Welcome back to The Wealth Effect, where we don’t just talk about making money. We talk about keeping it.
In this episode, we're diving into the dark side of wealth: scams. Because the truth is, building wealth is only half the battle. The other half? Not losing it.
From Ponzi schemes to social media “wealth coaches,” from crypto cons to fake investment platforms, we break down the psychology behind scams and the emotional triggers that make them work, like greed, FOMO, pride, and urgency. You’ll learn how to spot the red flags and protect your money with clarity, caution, and confidence.
We’re unpacking 9 of the most common and costly scams and giving you the mental tools to see through the hype and stay in control. Because real wealth isn’t loud, and it definitely isn’t easy. It’s earned, protected, and built smart.
Let’s fill your pocket—and protect what’s already in it.
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We welcome our third special guest, Dr. Annie Cole!
Dr. Annie Cole, Ed.D., is an expert educator turned financial coach who teaches women how to master all areas of their finances, from budgeting and paying off debt to investing, building wealth, and retiring early. After spending 11 years developing and teaching courses to students and adults, she turned her educational focus to financial education with the goal of making complex financial topics simple for the everyday person.
Personally, Annie has experienced her own financial transformation over the last decade. In her 20s, Annie was a burnt-out social worker struggling on a $26,000 salary. By her 30s, she had climbed the ladder to a Vice President role, invested over $380k, owned $1 million in real estate, and cut 20 years off her retirement date.
Today, she runs Money Essentials for Women, an online financial resource center for women, and inspires women to step into new levels of money mastery and confidence. Learn more about her work at www.money-essentials.com or on Instagram @build.wealth.with.annie.
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Passive income: It’s the dream sold in every YouTube ad. Money that flows in while you sleep. Freedom from the 9-to-5.
In this episode of The Wealth Effect, we pull back the curtain on passive income. Not the fantasy but the real, gritty, strategic path to financial autonomy. We break down what it really means to earn without trading time for money and why most people get it wrong.
Tap play. Your future self will thank you.
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In this episode of The Wealth Effect, we dive into the hidden psychology of spending. Why do we buy things to feel in control? To signal who we are? To avoid discomfort or regret? From the illusion of control to the trap of convenience and the fear of missing out, we explore the unseen forces that influence where our money goes and why it often slips through our fingers.
You’ll learn about:
The emotional triggers that drive impulsive purchasesThe role identity plays in shaping your financial habitsHow marketers use anchoring and urgency to influence your decisionsWhy letting go of things is harder than it seems and what that reveals about usHow small conveniences come with a high hidden costThis isn’t just a conversation about money. It’s a deep dive into how you think and how you can shift your mindset to spend with intention, build real control, and use money as a tool to build a life that reflects your values.
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In today’s episode, we dive into a topic that impacts millions but often feels too massive to face: the wealth gap. Closing that gap doesn’t start with a system, a program, or a politician. It starts with you.
We’ll explore:
Why your starting point doesn’t define your endpointThe power of mindset in rewriting your financial storyHow daily habits can transform your futureReal ways to overcome financial and educational barriersThe underrated value of mentorship and communityAnd why success means lifting others as you climbIt’s about taking ownership, building discipline, and committing to a path that turns struggle into strength.
The wealth gap is real, but it’s not permanent—and your choices can be the beginning of the change.
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Risk tolerance—two words that separate those who build lasting wealth from those who stay stuck in fear. In this episode of The Wealth Effect, we talk about what risk tolerance really means, why it’s critical for financial growth, and how you can develop the mindset and strategy to use risk to your advantage.
Are you risk-averse, a calculated strategist, or an aggressive risk-taker? Understanding your own tolerance can be the difference between financial success and sleepless nights. We’ll explore the psychology behind risk, the factors that shape your comfort level with uncertainty, and practical ways to strengthen your risk tolerance over time.
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Is money the key to happiness, or is it just a tool? In this episode, we dive into the complex relationship between wealth and happiness. You’ll learn why money is an amplifier and not the source of happiness and how to use it to create a life of freedom, fulfillment, and purpose.
Discover the four levels of money and happiness, the biggest financial mistakes people make, and the formula for true wealth. Whether you’re working toward financial security or already building your empire, this episode will challenge your mindset and help you unlock both financial success and lasting happiness.
If you’re ready to rethink money and start using it as a tool for a richer life both financially and emotionally tune in now! 🚀💰
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Ready to turn real estate into your wealth-building powerhouse? In this episode of The Wealth Effect, we break down everything you need to know about investing in real estate—from the three laws of real estate wealth to the four pillars of profitable investing and the best strategies for every investor.
📈 Why does real estate create more millionaires than any other asset class? 🏡 What are the biggest mistakes new investors make? 💵 How can you start today—even with little money?
Whether you're a beginner or a seasoned investor, this episode is packed with insights, actionable strategies, and a roadmap to financial freedom. It’s time to stop waiting and start building your real estate empire.
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In this episode of The Wealth Effect, we’re tackling one of the biggest challenges in success balancing wealth and family. We’ll break down how to align your financial goals with family values, avoid common money pitfalls, and create a lasting legacy of wealth and wisdom. Tune in as we explore how financial success and strong family bonds can grow together because true wealth is more than just money.
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What’s the one investment that guarantees success? YOU. In this episode of The Wealth Effect, we’re diving into the most powerful wealth-building strategy—investing in yourself.
From developing a success-driven mindset to mastering high-value skills, expanding your network, and prioritizing your health—this episode is packed with actionable insights that will change how you approach personal growth.
Success isn’t about luck. It’s about who you become. And when you grow, your wealth grows with you. Tune in now and take the first step toward the greatest investment of your life—YOU.
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