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
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