What a week. Recent news has been hard to hear and tougher to follow so we’ve broken down the headlines and what it could mean for you.
Feelings aren’t facts
(but it’s fact we feel them)
In life, losses have more impact on us than gains. We suffer bad more intensively than we revel in good. If our investments happen to be falling we respond emotionally … so we need to be able to separate emotions from fact.
Really,
Social media lies to us?
Hypesters tell us that investing is a one-way ticket to Gucci wardrobes and Teslas in the garage. But if your gains are enough to cover just one of Elon’s fancy wheel trims then you’ll be outperforming 90% of all individual investors.
Money Means … investing with confidence
Investing comes with a few golden rules:
- Know the basics
- Watch your emotions
- Know (and cover) your risk
- Think long term
- Prepare for some bumps
For most, it isn’t about Teslas in the garage. Smart investing is simply growing your money so it outpaces inflation. So there’s more of it next year than there is this year.
At Money Means we tend to say that investing comes after sorting the basics:
- Write (and stick to) a budget
- Live within your means
- Save regularly
- Build up an emergency fund
- Clear expensive debt
Heroes’ stories
“The Wolf of Wall Street image of investing isn’t reality.”
Chanelle has been busy filming and recording episodes for the launch of the Money Means Podcast. And wouldn’t you know it, we’re there.
In Episode #1 we meet Bryce, a financial adviser-in-training who lost a significant sum investing on his own. Lesson learned? Keep it simple.
Subscribe on Apple or Spotify now