1797: Why We Ignore The Stock Market And You Should Too: Demystifying Personal Finance Part 4 by Liz of FrugalWoods

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Investing, Business, Education, Self-improvement

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🗓️ 9 February 2022

⏱️ 12 minutes

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Summary

Liz of Frugalwoods shares why she ignores the stock market, and why you should do the same Episode 1797: Why We Ignore The Stock Market And You Should Too: Demystifying Personal Finance Part 4 by Liz of FrugalWoods The Frugalwoods are ex-urban, rookie homesteaders finding contentment (and a lot of chores) on 66 acres in rural central Vermont along with their two young daughters. They write about a wide range of topics, including their experience as parents, their adventures as novice homesteaders, and the financial decisions that made their life possible. Their philosophy is that managing your money wisely enables you to pursue unusual aspirations and opens up a world of options for how to live your life. Through the application of frugality–coupled with good incomes and judicious financial management–they have created a life that they love living every single day. It’s not a life beholden to consumerism or the drive for material perfection or the incessant clarion call for more. The original post is located here: https://www.frugalwoods.com/2016/01/20/why-we-ignore-the-stock-market-and-you-should-too-demystifying-personal-finance-part-4/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, episode 1797, why we ignore the stock market, and you should too,
0:07.9	demystifying personal finance, by Liz of frugalwoods.com. And I'm your host and personal finance
0:15.6	enthusiast, Diana Mariam. Now let's get right to it and continue optimizing your life.
0:21.0	Why we ignore the stock market, and you should too, demystifying personal finance,
0:30.6	by Liz of frugalwoods.com. Apparently the stock market is doing terrible things right now,
0:37.9	but I don't care. Monitoring the stock market like frugalwoods, stock squirrels is a patently
0:44.8	useless waste of time, energy, and brain capacity. Same for frugalhound as she's tethered
0:51.5	to a leash, and the squirrels are decidedly not. There's simply nothing to gain by it.
0:58.2	I'm taking a different tact. I'm not going to tell you how to optimize your investments or
1:04.1	beat the market, or pick that one hot fund. Why not? Because I don't know how to, and neither
1:11.1	does anyone else. Knowing can predict what the market will do, and there's no secret formula
1:17.0	for beating it. What you can do? There are, however, two sure fire ways to beef up your investment
1:24.8	portfolio. Number one, increase your savings, and number two, increase your earnings.
1:31.3	I realize this is ridiculously less sexy than playing day trader on your phone in your cubicle,
1:37.5	but these are the only things that are 100% guaranteed to work. My approach to all things in life
1:44.3	is to control what I can and to categorically ignore or let go of the things I can.
1:50.8	Let's be clear here. I'm not always successful at this. It's merely what I aspire to do.
1:56.8	The stock market is firmly in the camp of things I can't control, and so I pay it no heed.
2:03.2	No heed at all. I used to spend momentous amounts of time and effort trying to alter the
2:08.7	course of events beyond my control, which worked a whopping 0% of the time. But in the genre of things
2:15.3	you can impact, if you increase your rate of savings, say through some hardcore frugal action,
2:21.6	then you'll have more money to invest. And if you increase your income, then you'll have more
	...

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