Recapping the 9 episodes that reframe our investment mindset to ease financial anxiety!
The worst 15 year period in the market over that same period of time going back to 1970, positive 3.7%, same exact index, different time period, very different result. (06:04)
Uncertainty on the other hand, we talked about how it does historically show a high correlation with volatility: financial crisis of 2008, COVID in 2020, the uncertainty period was the drop. Once there was more perceived certainty, a plan of action, what are we going to do? The market started its recovery. (07:29)
When you use a mathematical statistically diversified portfolio, the goal is like that of a healthy cookie, we want the most delicious flavor that we can get for the least amount of unhealthy ingredients. (13:46)
Quote for the episode: "The fear should not be paying for advice, it should be not getting something for that advice, not getting the value that you're paying for." (15:35)
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Accidents will happen in life so captain your ship or at least hire one!
"Yes", he replied, "the boat went past me first on its way towards you." "You were lucky it missed you. I wasn't so lucky." "Well," said the newcomer, "I saw that it might hit me so I moved out of the way." (01:51)
"Little by little, a little becomes a lot...plus compounding interest!" - paraphrasing a Tanzanian proverb
You get your first 401(k) statement that you threw a couple pebbles into and it essentially says you know, "well thanks for playing, but you still have pretty much nothing", right?...