Summary: If you’re working to build a great retirement, stop listening to weekend investment talk radio. The economics of these local shows encourage the sale of investment products rather than offering sound investment advice.<br> In this week’s episode, I answer listener questions and talk about the difference between investment and investment products and why too much worry will rob you of your life.<br> Brenda asks:<br> “What do you think about those weekend radio shows where they talk about “no risk investing” and how their clients “never lose money”? Are they legit?”<br> In my answer I discuss:<br> <br> * The economics of weekend investment talk radio.<br> * Why you should be careful in responding to messages playing off your fear or greed.<br> * The differences between investments and investment products.<br> * How to make smarter investment decisions.<br> <br> Janie Asks:<br> Question: My husband and I are both self-employed. (I am 35, he is 40). I am paralyzed with stress about retirement. We save about $20,000 per year, max out Roth, remainder in mutual funds. In addition. we also save for college funds (3 kids) and paying $350/month extra towards 30yr fixed mortgage. (Really have only been able to save like this for past 5 years–prior to that paying off student loans, building business etc.)<br> We have no credit card debt and no car payments.<br> What stresses me out, is that I don’t have a traditional 401K so I don’t know what is “normal” amount saved.<br> I guess my question is. . . . . is 20% the right amount? Is it WAY low? Way high?<br> Frankly, I want to be safe. I had a very uncertain, unstable childhood. I’ve built a great life for myself but I find myself not being able to enjoy my efforts because I’m constantly worried about the what ifs. (Are you a financial planner and a shrink. . lol).<br> In my answer I discuss:<br> <br> * Why Janie needs to STOP worrying and start living more (I say it with love).<br> * Why Janie and her husband should be PROUD of their progress.<br> * The dangers of constant financial worry.<br> * How having a sound plan can help lessen financial worries.<br> * How a good financial planner might bring needed perspective and structure to their financial life.<br> <br> Want to Make Smarter Financial Decisions?<br> Get free access to resources to help you:<br> <br> * Create a net worth statement<br> * Manage cash flow if you hate to budget<br> * Understand the basics of Social Security<br> * Plus many more.<br> <br> [button_2 color=”red” align=”center” href=”http://www.rogerwhitney.com” new_window=”Y”]Click Here and Sign Up[/button_2] <br>
