1429: Why I Panicked When the Stock Market Dropped by ESI of ESI Money on Risk Tolerance Investing

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 6 February 2021

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

ESI of ESI Money tells you why he panicked when the stock market dropped. Episode 1429: Why I Panicked When the Stock Market Dropped by ESI of ESI Money on Risk Tolerance Investing ESI Money is written by "ESI", a 50-something retiree. The site is basically a list of what's allowed him to become financially independent and how you can implement those successes in your life. His philosophy is simple and focuses on doing three simple things to achieve financial independence: earn, save, invest. There's a bit more to it than that, of course, but if you can concentrate on these three areas, they will get you at least 90% of the way there. The original post is located here: https://esimoney.com/why-i-panicked-when-the-stock-market-dropped/ Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Join the Ol' Family to get your Free Gifts and join our online community: OLDPodcast.com/group Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Optimal Finance Daily episode 1429, why I panicked when the stock market dropped
0:06.8	by ESI of ESIMoney.com. And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.0	This is the show where I narrate posts from a wide variety of personal finance blogs.
0:19.0	We cover so much on the show from saving to investing to debt reduction and more.
0:24.0	So thank you for joining me today and every day. Are you loving Optimal Finance Daily?
0:30.1	Why not share with a friend today? Invite them to join the party by sending them a link to
0:35.0	oldpodcast.com. And while they're there, they can check out our five other shows on topics like
0:40.8	personal development, health, and relationships. But for now, let's get right to it and continue
0:46.3	optimizing your life. Why I panicked when the stock market dropped by ESI of ESIMoney.com.
0:57.1	I have seen numerous articles on the recent stock market decline. The news media is in a frenzy
1:04.3	claiming the end of the world is near and that we're all going to lose everything by the time it's
1:08.8	over. It's what much of the media does best. Take an issue and sensationalize it to the point
1:15.0	of terror. Or at least that's what they like to do. As you've probably guessed, I'm not a fan of
1:21.3	theirs. 2008. I have a pretty steady hand when it comes to stock market declines. I wrote out the
1:28.7	collapse of 2008 investing cash into stocks all the way down. I must admit that it was a pretty
1:34.7	wild ride. And even I questioned myself many times, wondering whether I was doing the right thing
1:40.4	or not, buying when everyone else was selling. It was worsened by the fact that even when I thought
1:46.3	the market could go no lower, it often did. But this ended up being a great move for me. Over
1:53.3	the next several years, those investments skyrocketed and have done quite well. If you believe in
1:58.8	the overall worth of US stocks, which I do, why panic when they drop a bit? My panic. This time
2:07.0	was a bit different for me though. It wasn't because my portfolio was down big time and my net
2:12.5	worth had taken a huge hit, both which were true. That's what most people are afraid of, spurred
	...

Please login to see the full transcript.

Previous episode | Next episode

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

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