Summary: If you're working towards retirement you know that investing wisely is a key part of reaching your goals. The problem is investing means putting your money at risk. That's stressful. As a result, many of us tell ourselves lies or believe "trues" that can be dangerous to our financial future. In this episode, I'll discuss 7 lies we tell ourselves about investing and how to avoid them.<br> <br> INVEST WISELY<br> The 7 Lies We Tell Ourselves About Investing<br> <br> * There is too much uncertainty right now to invest<br> * I'm not wrong, the market is<br> * Thinking the current trend will continue<br> * I just need to hold a losing investment until I get back to even<br> * Past performance can predict future results<br> * I just need to find an investment guru<br> * Investing alone will make me wealthy<br> <br> How to Avoid Them<br> <br> * Come to peace with the fact that the future is unknowable<br> * Educate yourself about how investment markets work<br> * Use a sound process for investing<br> * Diligently monitor and adjust your plan as your life unfolds<br> <br> PLAN WELL<br> Last month I conducted my 1st annual listener survey. A big thank you to all that participated.<br> Here are some interesting facts about you:<br> <br> * 100% of you are male (do ladies not take surveys?!!!)<br> * 73% of you are over 50 (makes sense)<br> * 73% of you have been married over 20 years (great job!!)<br> * On average you have 3 children<br> * 42% of you say you never plan on retiring (I'm with you on this)<br> * Top retirement concerns include<br> <br> <br> * Investing and the economy<br> * Healthcare costs<br> * Running out of money<br> <br> <br> * Top retirement goals include<br> <br> <br> * Spending time with spouse<br> * Spending time with family<br> * Travel<br> <br> <br> <br> Some of your top questions you need answered are:<br> <br> * What's the best way to invest for income?<br> * When is a will sufficient (without a trust)?<br> * When should I start social security?<br> * How do I create passive income?<br> * What is the right portfolio mix during the different stages of retirement?<br> * Will the popularity of index investing cause more investment bubbles?<br> <br> In future episodes, I'll work to answer each one of these questions.<br> What is the #1 Thing You Struggle with As You Work Towards Retirement?<br> <br> <br> [spoiler]<br> The Retirement Answer Man Episode #39<br> All right. Well, welcome! This is Roger Whitney. I am the Retirement Answer Man and this is the show dedicated – well, it’s really dedicated to you to help you learn to live well today without sacrificing your tomorrow. I think, financially, that’s what we’re always trying to do as we make sound decisions in our life and the way I do that is, each week, I try to share some pearls of wisdom – well, I think they’re pearls of wisdom – from my 24 years as a financial advisor on how to plan well and invest wisely in your life.<br> In our Invest Wisely segment today, I want to talk about the seven investing lies we all tell ourselves from time to time and these are all really dangerous. If we’re going to invest wisely, we need to be aware of these so we can work to avoid them.<br> In our Plan Well segment, I want to talk a little bit about, well, I want to talk about you! Just recently, I did my first annual listeners’ survey where I sent out a survey to all of you that are signed up for the Retirement Answer Library and I asked you some very basic questions – hopefully they were too intrusive – to learn a little bit more about you. I want to talk about who you are. And then, I have a little ask for you about some of the things that you’re struggling about so I can work to serve you better. That’s what we’re going to talk about in the Plan Well...
