Avoid Losing $17K Yearly From Bad Investment Decisions
Retire Smarter with Kevin Kroskey, CFP® & Tyler Emrick, CFA® CFP®
English - September 28, 2023 09:00 - 25 minutes - 23.2 MB - ★★★★★ - 22 ratingsInvesting Business Careers Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Surprise! Another robust study showed investors are still underperforming and making bad investment decisions. Morningstar released its yearly "Mind the Gap" study last month, showing investors have lost on average 1.7% yearly -- that's $17,000 on a $1,000,000 portfolio -- over the last decade. Why so and how can we stop the madness?!
In this episode hear Tyler Emrick, CFA®, CFP® break down the study's results and describe how True Wealth helps families not make the same mistakes as the average investor.
Click to read Morningstar's Mind the Gap study: https://www.morningstar.com/lp/mind-the-gap
Here are some of the things we will discuss in this episode:
Background on the ‘Mind the Gap’ study from Morningstar.
The study found a 1.7% gap from average investor to the average fund return.
Timing the market costs investors regular and the data from the last four years shows that.
There’s always a new reason to give us the belief that we can time the market.
The illusion of control bias can lead people to believe they have more control over the outcome than they actually do.
Need help making sure your investments and retirement plan are on track? Click to schedule a free 15-minute call with one of True Wealth's CFP® Professionals.
Or use this link: http://bit.ly/calltruewealth
Learn more about the Retire Smarter Solution™: https://www.truewealthdesign.com/ep-45-retire-smarter-solution/