5 Myths About Diversification (plus an intro to FinCon)

The Stacking Benjamins Show

Joe Saul-Sehy | Cumulus Podcast Network

Investing, Business, Self-improvement, Education

4.2 • 1.9K Ratings

🗓️ 25 September 2020

⏱️ 70 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

What does diversification really mean? Contrary to popular opinion, there's more to good diversification than just spreading your money around. But how does it work? Today we'll tackle a recent piece from the Wall Street Journal that dives into popular myths about diversification. Believe it or not there's more to it than just "spreading your money around." Before I forget - a big thanks to today's roundtable contributors! You can find more from Miranda Marquit at MirandaMarquit.com and freelancewriteracademy.com; Paula Pant at AffordAnything.com; AND you can get help in your financial corner from OG HERE. As far as financial independence and doing all the "right things," Jeff is pretty set. After years of effort getting to this point, Jeff now finds himself thinking less about his finances. What's the solution here? Find a hobby? Earn more cash? Buy products from all of our sponsors? Our roundtable will share their thoughts during our Magnify Money segment. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You know in today's world seems like the best treatments reserved only for a few. Well,
0:04.4	Discover wants to change that by making everyone feel special. That's why with your Discover card
0:09.7	you have access to 24-7 live customer service as well as $0 fraud liability, which means you're never
0:16.5	held responsible for unauthorized purchases. Finally, no matter who you are or where you
0:21.6	are in life,
0:22.6	you'll feel special with Discover.
0:24.5	Learn more at Discover.com slash credit card.
0:27.3	Limitations apply.
0:29.6	I mean, you're living in your mother's basement
0:31.3	right in the blog on finance?
0:33.1	Really, you should stay off the computer son and get a job.
0:36.5	Seriously. Live from Joe's mom's basement,. What does the word diversification really mean?
1:01.5	Today our roundtable breaks down, count them, five myths about diversification,
1:07.7	and by the end of that discussion, I bet you'll go all in on one single stock.
1:14.4	Oh, that's not what it means?
1:17.1	All right.
1:18.1	Well, okay.
1:18.4	To help us dismantle diversification,
1:21.6	we welcome from the Freelance Writer Academy.
1:24.7	It's our longtime friend Miranda Marquette.
1:27.7	And from the Uber Diversified Afford Anything podcast,
1:32.0	it's Paula Pan. finally a guy who probably needs to
	...

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