The Financial Mistake We Keep Making and How to Stop

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'1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation (amzn.to/4hRT9HF)' by Andrew Ross Sorkin

Are we headed for a financial crash like the one in 1929? Oprah sits down with Andrew Ross Sorkin, financial columnist for The New York Times, co-anchor of CNBC's Squawk Box and bestselling author of 1929: Inside the Greatest Crash in Wall Street History and How It Shattered a Nation, for a thought-provoking conversation about money, human nature and the warning signs we may be missing right now. From the irrational exuberance of the Roaring Twenties to meme stocks, A.I. and today’s “YOLO” culture Andrew explores the surprising parallels between then and now and why every generation eventually faces a financial reckoning. Andrew answers audience questions about whether we could be headed for another major downturn and what that could mean for everyday Americans. Plus, he shares some of his most important money lessons: from why women may be better investors and the six-month savings rule to teaching kids the value of a dollar and preparing for an uncertain financial future.

00:00:00 - Welcome Andrew Ross Sorkin, author of “1929”
00:04:50 - Credit didn’t exist
00:07:00 - How 1929 parallels today
00:08:33 - Biggest lessons from 1929
00:12:09 - The patterns that give Andrew pause
00:14:20 - Andrew was daunted by writing this book
00:17:50 - The financial crash is coming
00:20:12 - America would have been better off with women in charge
00:22:00 - Retirement is a woman’s issue
00:23:15 - Advice for recession
00:25:20 - Most Americans are not ready
00:27:25 - Will AI delay life milestones?
00:28:52 - Financial mistake people make over and over
00:30:50 - Is college still important?
00:33:13 - Important financial lessons for kids
00:36:00 - What Andrew has learned about power
00:38:45 - Are trillionaires a problem?

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