How To Make Risk Your Ally When Investing with Luke Hurley DIY1 DWI-EP160
Dentists Who Invest Podcast
English - July 21, 2023 14:00 - 43 minutes - 29.9 MB - ★★★★★ - 1 ratingMedicine Health & Fitness Education dentist dental finance investing money wealth crypto stocks invest dentists Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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What if you could take the guesswork out of investing and secure your financial future with strategic decision-making? Join us in a riveting chat with investment guru Luke Hurley, as we unpack the often misunderstood concept of investment risks. We shed light on the different types of risks including provider risk, specific risk, market risk, inflation risk, and shortfall risk. We emphasize that the most significant risk is inaction, which impedes financial freedom.
Diversifying your portfolio is the key to safeguarding your investments from significant losses, and we delve right into this in our conversation with Luke. We caution against the dangers of investing heavily in a single company and stress the importance of a well-diversified portfolio across different companies, sectors, and regions. We urge you to understand your exposure to specific risks and allocate time to make informed decisions.
In the final leg of our discussion, we bring to light the concepts of inflation risk and shortfall risk. These factors can erode wealth over time if not properly managed so we provide some invaluable advice on these. Luke shares nuggets of wisdom on staying focused on long-term investing goals, understanding the different types of risks, and the role of goal setting and motivation in achieving financial success. Tune in for a masterclass on navigating the investing landscape and securing your financial future.