7 Investing Lies We Tell Ourselves & How to Avoid Them
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If you're working towards retirement you know that investing wisely is a key part of reaching your goals. The problem is, investing means putting your money at risk. That's stressful. As a result, many of us tell ourselves lies or believe "trues" that can be dangerous to our financial future. In this episode, I'll discuss 7 lies we tell ourselves about investing and how to avoid them.

INVEST WISELY

The 7 Lies We Tell Ourselves About Investing

• There is too much uncertainty right now to invest

• I'm not wrong, the market is

• Thinking the current trend will continue

• I just need to hold a losing investment until I get back to even

• Past performance can predict future results

• I just need to find an investment guru

• Investing alone will make me wealthy

How to Avoid Them

• Come to peace with the fact that the future is unknowable

• Educate yourself about how investment markets work

• Use a sound process for investing

• Diligently monitor and adjust your plan as your life unfolds

PLAN WELL

Last month I conducted my 1st annual listener survey. A big thank you to all that participated.

Here are some interesting facts about you:

• 100% of you are male (do ladies not take surveys!!!)

• 73% of you are over 50 (makes sense)

• 73% of you have been married over 20 years (great job!!)

• On average you have 3 children

• 42% of you say you never plan on retiring (I'm with you on this)

• Top retirement concerns include

• Investing and the economy

• Healthcare costs

• Running out of money

• Top retirement goals include

• Spending time with spouse

• Spending time with family

• Travel

Some of your top questions you need answered are:

• What's the best way to invest for income?

• When is a will sufficient (without a trust)?

• When should I start social security?

• How do I create passive income?

• What is the right portfolio mix during the different stages of retirement?

• Will the popularity of index investing cause more investment bubbles?

In future episodes, I'll work to answer each one of these questions. What is the #1 Thing You Struggle with As You Work Towards Retirement?

Tell me in the form below and I'll try to help.