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The Long View

Scott Rick: Are You a Tightwad or a Spendthrift?

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5775 Ratings

🗓️ 18 June 2024

⏱️ 54 minutes

🧾️ Download transcript

Summary

A researcher discusses what shapes our money personalities and how financial disposition affects relationships.

Transcript

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0:00.0

At Jackson, we've created a digital retirement planning experience with you and mine.

0:05.5

Visit jackson.com to explore our easy-to-understand resources and user-friendly tools

0:10.1

that are designed to enable financial professionals and clients to plan a path to financial freedom.

0:15.5

Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,

0:20.5

and Jackson National Life Insurance Company of Lansing, Michigan, and Jackson

0:21.4

National Life Insurance Company of New York, purchase New York.

0:26.5

Please stay tuned for important disclosure information at the conclusion of this episode.

0:32.9

Hi, and welcome to the Longview. I'm Christine Ben's Director of Personal Finance and Retirement Planning for Morningstar.

0:39.8

And I'm Amy Arnott, portfolio strategist for Morningstar.

0:43.6

Our guest on the podcast today is Scott Rick.

0:46.5

Scott is an associate professor of marketing at the University of Michigan's Ross School of Business,

0:51.2

and he's the author of a new book, Tightwads and Spendthrifts,

0:55.4

navigating the money minefields in real relationships.

0:58.8

He received his PhD in behavioral decision research from Carnegie Mellon in 2007, and he then

1:05.1

spent two years as a postdoctoral fellow at Wharton.

1:08.9

His research focuses on understanding the emotional causes and consequences

1:13.1

of consumer financial decision making with a particular interest in the behavior of

1:18.3

tightwads and spendthrifts. Scott, welcome to the Longview. Thank you so much. Well, thank you.

1:25.0

We're super excited to chat today. Your book is so interesting. I wanted to

1:30.1

start with a little bit of your background. You said that your work in this area of money,

1:36.2

personalities, orientations really started as what you called me search. There were things that you

1:42.5

wanted to study because they're relevant to your

...

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