Famous Last Words in the Financial World

No one can predict the future or else we’d all be living on a beach somewhere, and sometimes we say some things that age horribly. In this episode, we’ll take a look at some famous last words in the financial industry (hopefully you haven’t said these). Let’s also talk about some decision-making mindsets that can slow you down. And we’ll also tell you why you shouldn’t compare finances with your friends and neighbors.

Check out the show notes by clicking here. 

Today's rundown:

0:50 – What’s on the menu for today’s episode.

2:12 – Mailbag question from Peter: I feel like we should have saved more. I don’t have has much as my neighbors and that worries me. Will I be working until the day I die?  

4:16 – Let’s talk about decision-making impediments.

4:32 – Having too many decisions to make can overwhelm you.       

5:47 – Sometimes people do too much research and get in their own way.

7:22 – General confusion about finances.

8:15 – Experiencing a traumatic life event can be a major stumbling block.

9:42 – For some people, they just don’t like talking about money.   

11:22 –Let’s talk about famous last words in the financial industry that people live to regret.   

11:42 – “I like the security of keeping my money in cash because I know at least I won’t lose it.”

13:51 – “I won’t ever go into the nursing home. I’d rather be put out of my misery than live there.

14:41 – “I told myself a few years ago that I’d get out of the market if I ever recovered what I lost in 2008. And now I’ve recovered and a little better but I think I’ll just keep doing what I’m doing.”