116: Long-Term Investing: Coronavirus Changes Nothing with JL Collins

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 16 March 2020

⏱️ 77 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The stock market is up, then down, then down, then up. What is an investor to do? Today we bring JLCollins from JLCollinsNH.com back to the show to calm our fears and help us understand what is happening with the stock market. The market is falling. Or maybe today it’s rising. It’s SO VOLATILE, it can be scary to stay invested - especially if you’ve never been through a market downturn. JL expertly explains what’s going on - and his recommendations for the best course of action - based on 40 years of investing in the stock market (and making a boatload of mistakes along the way.) Long story short, stay the course. 105 years of historical stock market data says this too shall pass. While JL is an expert on the stock market, he doesn’t invest in real estate, so Scott and Mindy share their views about the real estate market and what this current stock market volatility might mean for real estate investors. They also share ways to hedge your bets in rental property investing through fully funded reserves. If you’re freaking out about the stock market, this episode can help calm your fears and keep you on the right course to give you the most chance for financial success. In This Episode We Cover: Why are people freaking about the crash How one should handle this market drop if you risk losing your job When to prepare emergency funds and how much to put into it Why you should hold your portfolio forever What an Index Fund is Why it is important to "ignore" the market How index outperform stock picking How one can never time the market How those who say they predicted the market only did it because of luck The only time the market is not going to recover... And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins Mr. Money Mustache Taking advantage of Mr. Bear A Guided Meditation for When the Stock Market Is Dropping Stocks — Part XXXII: Why you should not be in the stock market Time Machine and the future returns for stocks Pinterest Dow Jones - DJIA - 100 Year Historical Chart | MacroTrends BiggerPockets Money Podcast 95: The House Hacking Strategy with Craig Curelop BiggerPockets Money Facebook Page Mindy's email Scott's email Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	So the market clearly is searching for a direction that doesn't quite know what to do.
0:06.0	And nobody, and certainly at least of all me, knows what it's going to do on Monday.
0:11.0	I mean this could be, know today could have marked the
0:15.1	beginning of the turnaround where it begins to just go up again or it could be
0:19.6	what is charmingly called a dead cat bounce where you know Monday will open up and
0:25.6	will be down even further I mean nobody nobody really knows and and that's kind of
0:30.6	the the most salient point is because we don't know there is nothing to be done.
0:36.0	There is nothing to be gained by trying to dance in and out of the market as Warren Buffett once said.
0:45.0	You know, you buy the market and you hold and you're investing for the long term and this
0:49.5	volatility is to be expected. Every now and again the market plunges. Every now and again there are bare markets.
0:57.0	Hello hello hello and welcome to the BiggerPockets Money Podcast. My name is Mindy Jensen and with me as always is my steady stay the course co-host Scott Trench
1:06.0	Scott and I are here to make financial independence less scary
1:10.4	less just for somebody else and show you that by following the proven steps, you can
1:16.1	put yourself on the road to early financial freedom and get money out of the way so you can
1:20.6	lead your best life.
1:21.6	That's right. Whether you want to retire early and travel the world,
1:25.0	avoid panic selling in a recession.
1:27.5	Go on to make big-time investments in assets like real estate or start your own business
1:31.5	will help you build a financial
1:32.8	position capable of launching yourself towards your dreams.
1:37.0	This is episode number 116 featuring Jim Collins from J.L Collins N.com. You may know him better as a previous
1:46.4	guest on our show Number 20. He's also the author of the famed stock series and the even more well-known book called The Simple Path to Wealth.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.