Executive Summary
My First Million's year-in-review episode in which hosts Sam Parr and Shaan Puri, joined by Steph Smith, rapid-fire through categories (no sponsor read appears in the episode audio) on their best and worst of 2025. Sam calls moving to a furnished New York apartment near family his best investment, Shaan defends a no-research stock shopping spree he tweeted out with a 10-year hold in mind, and Steph shares a personal health decision she credits with changing her year. They trade their biggest personal losses, including Shaan's jury duty spiral and Steph staying in a job too long, name frame-breaking people like a brash personal injury lawyer and behavioral scientist Kristen Berman, and close on Shaan's year learning piano, new parenthood on both sides, and Sam's case that anyone can learn to love running. PARTIAL COVERAGE: the captions cover most of the conversation, but this summary highlights the investment answers, the personal stories and the running pitch only, so some category rounds are not summarized. These are the hosts' and guest's personal stories and opinions, and specific stock picks and health decisions mentioned are their own - nothing here is financial, investment or medical advice.
Key Takeaways
Investments beyond money
Sam names moving to a furnished New York apartment near his in-laws as his best investment of the year, over any index fund.
The stock shopping spree
Shaan describes spreading over a million dollars across a handful of stocks in one day, no research, with a 10-year hold in mind, up about 35 percent for the year.
Own less, live closer
Sam sold his cars, keeps almost nothing, walks to his office, and says the simpler setup made him happier.
Biggest losses
Shaan recounts his jury duty excuses collapsing one by one until he gave up, and Steph names staying in a job too long as her biggest personal loss.
Frame-breaking people
The hosts highlight a personal injury lawyer who runs his firm like a tech company and behavioral scientist Kristen Berman of Irrational Labs.
The misogi payoff
Shaan spent a year learning one piano piece and played it at Jesse Itzler's house, moving the room, a payoff he calls one of the coolest moments of his life.
Running for everyone
Sam's pitch: start at a pace that feels like walking, a mile a day, and the efficiency and enjoyment arrive on their own.
The Conversation Breakdown
Investments beyond money
⏱ Untimed topicSam names moving to a furnished New York apartment near his in-laws as his best investment of the year, over any index fund.
The stock shopping spree
⏱ Untimed topicShaan describes spreading over a million dollars across a handful of stocks in one day, no research, with a 10-year hold in mind, up about 35 percent for the year.
Own less, live closer
⏱ Untimed topicSam sold his cars, keeps almost nothing, walks to his office, and says the simpler setup made him happier.
Biggest losses
⏱ Untimed topicShaan recounts his jury duty excuses collapsing one by one until he gave up, and Steph names staying in a job too long as her biggest personal loss.
Frame-breaking people
⏱ Untimed topicThe hosts highlight a personal injury lawyer who runs his firm like a tech company and behavioral scientist Kristen Berman of Irrational Labs.
The misogi payoff
⏱ Untimed topicShaan spent a year learning one piano piece and played it at Jesse Itzler's house, moving the room, a payoff he calls one of the coolest moments of his life.
Running for everyone
⏱ Untimed topicSam's pitch: start at a pace that feels like walking, a mile a day, and the efficiency and enjoyment arrive on their own.
Core Frameworks & Ideas
The 10-year hold - Shaan's default
Buy only what you want to own for a decade, which frees you from watching prices.
Misogi with a date - Jesse Itzler's rule
A hard annual challenge only becomes real when a specific date is put on the calendar.
Walking-pace running - Sam's on-ramp
Start running at a speed that feels like walking, then let efficiency build slowly.
Actionable Next Steps
- ✓Name your own best non-financial investment of this year.
- ✓Pick one hard thing to learn and put a date for showing it on the calendar.
- ✓Try a mile at a walking-feeling pace before deciding running is not for you.
- ✓Write down the purchase you would still be happy owning in ten years.
Notable Quotes
“My best money investment is always boring because I just do S&P 500 bonds”
“I operate on gut and swagger.”
“when I buy things I try to hold them for 10 years.”
The One Thing to Remember
Sam, Shaan and Steph look back at 2025 and find their best investments were mostly not financial - a move, a skill, a habit, and time with family.