Ep. 411: How Do You Know When You’re A Worse Investor Than You Thought?

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This week on the Pete the Planner Show, Damian is exposed to be a martial arts expert?!

Remember: In the first six months of 2021, we’re going to make over five families’ financial lives, LIVE on the air! WE’RE GIVING AWAY FIVE FREE HEY MONEY, MEMBERSHIPS to walk with them across six months telling their stories about their struggles in personal finances. Check us out!

No time to listen?  Here’s a preview of what happened and when:

Show Notes:

HEADLINE SEGMENT Part One: [5:20]

  • “How do you know when you’re a worse investor than you thought you were? People are distracted by shiny investment ideas. NFTs and cryptocurrency, GameStop, and what a car company’s CEO thinks about fake dog crypto coins are where are reality is right now.”

    • Pete: Get professional help investing. If you watch TV news finance segments all day long, that’s probably a sign that you have no idea what to do, for real. They’re for entertainment.
    • If you’re not a day trader and you check the market multiple times per day, that’s probably a sign you have no idea what to do, for real.
    • Giving your attention to regular market swings is not healthy for your mindset. Then weird times come and you feel like doomsday is upon you.
    • Damian: Day trading can be done successfully, but it takes way more attention than the vast majority can afford to give it.


HEADLINE SEGMENT Part Two:
[16:16]

  • Signs you’re not as good of an investor as you think you are:
    • Pete: People have to understand the difference between investing and speculation. Speculation is not a plan, at all.
    • Damian: If you get everything just right, you get great gains, and you get out at the right time…maybe they can help you reach your financial goals. However, this is much more akin to the lottery than investing.

You’ve got to hear this whole chat. There’s just too much not to miss! There might be something you can think about.  — click PLAY below for the full show.


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