Episode Summary
When does taking a risk become gambling and when does it become investing? In this thought-provoking (and surprisingly fun) episode, Steve Rowe and Jess Schlupp-Taylor tackle the fine line between thrill-seeking and smart financial planning.
They start with confessions, dive into the psychology of risk, and explore why the chase for dopamine can make gambling so addictive even when the odds are stacked against us. On the flip side, they explain why some people steer clear entirely, uncovering how fear, past experiences, and even moral judgement shape our relationship with money.
Episode Highlights
- The key differences between gambling and investing strategy, purpose, and timeline
- How investment apps can blur the line with tricks designed to mimic gambling
- Practical tools to stay on the right side of risk - Money fixes: realistic goals, financial planning, and focusing on “return on life” - Psychological fixes: knowing your risk profile, managing emotions, and spotting escape behaviours
- And of course… Sockology makes a cameo, with a sock reveal you won’t want to miss
