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
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S1 EP49: Becoming a High Performer & Finding Purpose w/ Savi Barrowes
S1 EP48: Dealing With Anxiety in the Workplace ft. Shara Ruffin
S1 EP47: Achieving 2021 Financial Goals
S1 EP46: CROSSNET CEO and Co-Founder Greg Meade on What it Takes to Turn an Idea into a Multimillion-Dollar Business
S1 EP45: How Does One Find Inspiration ? With TED Talk Speaker Aziph Mustapha
S1 EP44: Overcoming the Challenges of the COVID-19 Job Environment w/ Upcoming Santa Clara University Graduates Isabella and Katarina Draskovic
S1 EP43: What it Takes to Build a Seven-Figure Business with New York Times Best Selling Author Suzanne Evans
S1 EP42: 5 Great Tips to Save You Money Every Month
S1 EP41: Creating Wealth with Intention and Mindfulness w/ Ryan Sterling
S1 EP40: Setting Yourself Up for Promotions and Career Opportunities w/ Wonsulting’s COO Jerry Lee
S1 EP39: Do What You Love! How To Pivot Your Career w/Career Pivot’s President Marc Miller
S1 EP38: The Correlation Between Your Productivity and Health w/ Kristel Bauer
S1 EP37: Estate Planning Basics... Why You Shouldn’t Wait to Do Your Estate Planning w/ Nina Decker
S1 EP36: How Much Do Presidents Impact the Economy? Trump's Economy VS Biden’s Economy…What You Need to Know
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S1 EP34: Mental Health, Self-Care & Entrepreneurship w/ Mark Metry
S1 EP33: So… You Want to Start a Lawsuit !?!?
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