353: How to Get Started Investing When You're Afraid
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 15 December 2017
⏱️ 11 minutes
🧾️ Download transcript
Summary
Learn how to dip your toe into investing in spite of fear.
Listener Q:
Linda,
Thanks for the financial information that you are providing to your listeners. I would like to invest on my own (currently managed by a bank) but am too worried that I may fail and never bounce back. What can you recommend I should do?
Tum
Sounds like you are in fear. Fear of failure, fear of loss, fear of making a mistake.
"Never bounce back." What do you mean by that?
Maybe you lack of knowledge.
Talk to your FA. Learn about what you already have.
Decide what you want to learn about.
Listen to podcast #293 regarding where to invest $300 to $500 dollars.
Open an account.
Dollar cost average into an ETF.
Research and learn how to buy stocks. Books, magazines, newspapers.
Start slowly.
Take advantage of dips.
Realize we are overdue for a 20% correction that happens every rolling 10-year period.
Invest for the long-term. More success with buy and hold over long-term.
Realize you will make mistakes. I did.
You can recover and learn to be successful. You look young, so good for you for learning at a young age.
Podcast 293 is here: http://www.lindapjones.com/wp-admin/post.php?post=13000&action=edit
Get "11 Quick Financial Tips to Boost Your Wealth" at http://lindapjones.com.
Transcript
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| 0:00.0 | Be wealthy and smart, episode 353. |
| 0:03.0 | I'm gonna live no rich life. |
| 0:07.0 | A rich life. |
| 0:08.0 | I'm holding that's life. |
| 0:10.0 | If y'all know what I mean, put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of pay hey time I'm gonna live the good life |
| 0:20.8 | and you're gonna live the good life |
| 0:21.3 | and you're a glorious light Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and |
| 0:30.3 | bosses on be wealthy Wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor. |
| 0:42.0 | Empowering women and Men Worldwide to Financial Freedom. |
| 0:45.1 | Well today is listener question Friday and we're going to deal with a listener question |
| 0:50.9 | around the subject of how to get started investing when you're afraid. |
| 0:56.3 | Here was the question I got on Twitter. |
| 0:58.8 | Linda, thanks for the financial information that you are providing to your listeners. I would like to invest on my own, currently managed by a bank, but I'm |
| 1:07.3 | too worried that I may fail and never bounce back. What can you recommend I should do? And it was signed Tom. Well, that is a very |
| 1:18.0 | interesting question and interesting the way that you phrased it because it sounds like there's a lot of fear going on there and |
| 1:25.5 | fear of failure, fear of loss, fear of making a mistake. What was interesting was the phrase, you may fail and never bounce back. |
| 1:35.0 | I'm not really sure what you mean by that because it looks by your picture |
| 1:40.0 | that you are very young. |
| 1:42.0 | So you would have lots of time in order to make a mistake and recover, |
| 1:47.1 | so I'm not quite sure why you think you would fail and it would be more or less permanent. |
... |
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