There are a lot of taboos when it comes to investing. I must be rich to start investing, or I’ll lose all my money if I start investing, or I don’t have a clue where to start investing…so I’ll be fine if I never do. Those may seem silly, but we all have our own taboos when it comes to investing – the good and not-so-good ones. So, let’s dig in and see if we can’t demystify some of those common taboos and help you find your own sweet spot when it comes to investing.
On This Podcast Episode:
Taylor R. Schulte, Founder of Define Financial, podcast host of Stay Wealthy San Diego and a fellow CERTIFIED FINANCIAL PLANNER™ is joining me in this episode to talk about– no, completely and utterly demystify- the five most common investing taboos:
Taboo 1 – I can’t invest in the stock market if I have other debt (student loan, credit card, etc.)
Taboo 2 – I must invest too much of my salary each month to make a difference – so why invest
Taboo 3 – The market is at all-time highs. I’m going to wait to invest until there is a market correction and I can buy at a lower price because I don’t want to lose my money
Taboo 4 – I must be an investing expert to put together a solid portfolio that works for my risk tolerance (strike up a discussion about what someone should be looking at when they are evaluating mutual funds or stocks for their portfolio)
Taboo 5- I can just invest in cryptocurrency and don’t have to invest in anything else
Shout Out to Our Episode Sponsor:
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Shannah Compton Game is a Money Wellness expert, host of the top-rated Millennial Money podcast, and CERTIFIED FINANCIAL PLANNER with an MBA. Millennial Money has over 20 million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.