Ep 305: Stop! When Doing Less Is The Right Money Move

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Business, Investing

4.7 • 1.5K Ratings

🗓️ 9 February 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When we start losing our hard-earned money in the market, we want to put a stop to it. We want to take action. But statistically, we know that investors who stay the course do better over time than those who try to time the markets. Jinny Uppal, author of “IN/ACTION: Rethinking the Path to Results," dishes on why we should stop listening to the voice in our head that tempts us to a default action path. "The belief that ‘I am the one who can control the outcome with my action,’ makes us take more action than is necessary," she says. In Mailbag, we advise a divorced listener on setting up a trust for her son. And in Thrive, how to host a Galentine’s Day party on a budget. P.S. If you haven’t already joined the HerMoney Council, we’d love for you to join us! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	You're listening to an AirWave Media Podcast.
0:05.0	We tend to correlate action with outcomes and I'm going to posit that we actually control
0:11.0	outcome in most cases in business and stock market investment far less than we realize.
0:16.0	We like to believe we do.
0:18.0	And the belief that I am the one who can control the outcome with my action makes us
0:23.0	take more action than is necessary.
0:34.0	The Harmony Podcast is supported by Edelman Financial Engines.
0:38.0	Edelman knows that wealth isn't just about money.
0:41.0	It's about everything money enables you to do.
0:44.0	So how do you build wealth?
0:46.0	Join me and award-winning journalist Soledado Brian for a new show called Everyday Wealth,
0:52.0	presented by Edelman Financial Engines.
0:54.0	Visit EverydayWealth.com slash Harmony to learn more.
0:59.0	Hey everybody, I'm Jean Chatsky.
1:02.0	Thank you so much for joining us today on Harmony.
1:06.0	We are recording this episode on the heels of a week in the stock market that has stumped
1:12.0	even the most seasoned of investors.
1:14.0	We've seen more dips and rallies that I can count.
1:18.0	And the S&P 500 is headed for its worst month since March 2020,
1:23.0	when we saw that sudden COVID induced dip.
1:27.0	And the NASDAQ is on its pace for its worst month since October of 2008.
1:33.0	Experts who've been looking to historical data to explain some of these movements
	...

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