In this episode of The Free Retiree Show podcast, we delve into the behaviors that can undermine investment success and hinder wealth accumulation. Join us as we explore the psychological traps and pitfalls that many investors fall into, and learn how to avoid them.
What you'll learn in this episode:
- The importance of viewing investments as a long-term commitment and understanding that true wealth accumulation takes time and patience.
- How fear and greed can drive impulsive investment decisions and the detrimental effects of making choices based on emotions.
- The dangers of overconfidence, especially when considering stocks or ventures as sure things, and how it can lead to significant losses.
- The value of patience in investing and how impatience can lead to panic selling or prematurely abandoning long-term investment strategies.
- The importance of diversification in investment portfolios, debunking the misconception that it is unnecessary, and exploring different levels of diversification.
- The drawbacks of lacking an investment strategy or philosophy and the perils of blindly following stock tips or recommendations without proper analysis.
- The dangers of chasing the herd and displaying biases towards certain stocks, including the potential risks associated with following trends without proper analysis.
- The limitations and potential pitfalls of being a do-it-yourself investor, whether as a stock picker or a DIY enthusiast, and the importance of seeking professional guidance.
- Understanding the cognitive bias of loss aversion and its impact on investment decisions, including the psychological power of loss compared to gain.
Join us in this insightful episode of The Free Retiree Show as we uncover the behaviors that can sabotage investment success and provide valuable insights and strategies to help you become a more informed and successful investor.
#TheFreeRetiree #FinancialFreedom #Retirement #InterviewTips #RetirementStrategy
S1 EP92: Implementing Effective Long-Lasting Changes in Your Personal & Professional Life with Friska Wirya
S1 EP91: The Value of Passion and Purpose in Achieving Success w/Brian Burke
S1 EP90: Maximize Your Earning Potential with Sergio Patterson
S1 EP89: The Future Economy & Pursuing a Career in STEM with Justin Shaifer
S1 EP88: Advanced Tax Planning and Strategies with Mike Jesowshek
S1 EP87: The Importance of Networking with CFO Robert Bendetti
S1 EP86: The Current State of Social Security & Your Retirement with Prof. Laurence Kotlikoff
S1 EP86: The Current State of Social Security & Your Retirement with Prof. Laurence Kotlikoff
S1 EP85: Making Your Resume & Interview Memorable with Stephanie Nuesi
S1 EP84: Job Search 101: Leveraging Your Network with Trevor Houston
S1 EP83: Nailing Your Job Interview with Lakrisha Davis
S1 EP82: Making Big, Crazy Dreams a Reality with Jeremy Schneider
S1 EP81: How to Deal with Student Loan Debt: The Smart and Effective Way with Atty. Joshua Cohen
S1 EP80: The Importance of Having Soft Skills in the Workplace with MIT instructor Mark Herschberg
S1 EP79: Retirement Planning to Overcome the Threats Facing the US Economy with Prof. Laurence Kotlikoff
S1 EP78: How Women Can Find Their Voices and Be Heard in Corporate America with Rehmat Kharal
S1 EP77: Can You Afford to Go on Vacation? Financial Questions to Answer Before Taking a Vacation
S1 EP76: Success Mindset: The Habits and Traits of Successful People with Simon Parsons
S1 EP75: Value Pricing: A Business Model That Leads to Success with Ron Baker
S1 EP74: Biggest Investor Mistakes With Lee Michael Murphy
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast