The Worst Investor

Today’s Prep:

Which investors will end up ahead in the end? Eric talks through the types that might look successful…until they aren’t.

(Click the featured times below to jump forward in the episode)

Equipping Points:

When it comes to your retirement journey, you want to be a wise investor. What are the traits shared among the worst investors (and how can you avoid being one of them)? Eric shares what investment strategies will end up being more successful than others.

Those who are trying to get rich quickly don’t usually win in the end. An investor who is slow and steady but saving and working hard over time is more likely to succeed. Making safer, smarter choices with your money is key.

Instead of just hoping it all works out eventually, have a plan. You don’t want to reach retirement and realize you have no plan. Start working on your financial plan several years before retirement to make smarter choices on where to put your money. Don’t just assume because “everyone” else is doing it that it’s right for you. Instead, have a plan that focuses on your needs and goals. Make sure you’re accounting for your long-term goals and not caught being short-sighted.

Listen to the entire episode or skip ahead to a particular question using the timestamps below.

[0:47] – Who are the worst investors?

[1:33] – Trying to get rich quick.

[3:46] – Operating without a plan won’t work.

[7:32] – Don’t only focus on short-term instead of long-term investing.

[8:49] – Remember what happens when you invest in the stock market.

 

Today’s Takeaway:

My money I need for income needs to be protected in safer, smarter places.

-Eric Peterson

 

Related Resources:

Mailbag: Advisor Reviews

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

Subscribe To The Podcast:

Apple Podcasts  -  Google Podcasts  -  Spotify  -  Stitcher  -  iHeartRadio  -  TuneIn

Check out some other recent episodes

Mailbag: Which Investment Should I Withdraw From?

September 29, 2022

Whether you are nearing retirement or wanting to buy a new car, taxes are often a big part of the conversation. Thinking through how and when to withdraw from your investments strategically can make all the difference in what taxes you pay afterwards.

Read More

Investing and Coffee

September 22, 2022

In the fall, a lot of people are ready to cozy up with a coffee or latte in their favorite mug. For fun, we talk about the different types of coffee drinks and what kind of investor that might make them. Do you take your coffee the same style you do your investing? Which one are you?

Read More

The Different Kinds Of Annuities

September 15, 2022

To some people, an annuity is almost like a dirty word. In reality, there are a lot of different kinds of annuities, and some are better for your financial plan than others.

Read More

Financial Fortune Cookies

September 8, 2022

What small piece of wisdom can we take away and apply to our financial plan? Eric talks through five fortune cookie statements and what they mean.

Read More

What Happens in a Periodic Review With Your Financial Advisor?

August 25, 2022

Think about the taxes! Eric answers three questions from the mailbag today that all involve financial decisions with tax implications.

Read More

Mailbag: Does It Matter Who Gets What Asset in My Legacy Plan?

August 18, 2022

Think about the taxes! Eric answers three questions from the mailbag today that all involve financial decisions with tax implications.

Read More

More than Just a “Nice Person”

August 11, 2022

Financial advisors are people who want to get along with, but you probably want more than just a nice person. We talk through what you should expect with a fiduciary and when you should get a second opinion.

Read More

Mailbag: How Much is Too Much to Spend on a Forever Home?

August 4, 2022

Retirement decisions involve a lot more than just the money, but also the emotional and lifestyle decisions, too. Eric answers three questions from the mailbag from listeners making retirement decisions.

Read More

Financial Jeopardy

July 28, 2022

We play the game of Jeopardy as Eric answers financial questions on today’s show. Do you know all the answers?

Read More

401(k) Weaknesses

July 21, 2022

If you have a 401(k), what are some of the downsides? Eric talks through what a 401(k) is best for and when it is better to invest elsewhere.

Read More

Leave a Comment