How Fear Could Cost You Millions!
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 7 June 2023
⏱️ 31 minutes
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| 0:00.0 | Today, we're going to load you up and show you how fear could be costing you millions. |
| 0:12.7 | Yeah, right. |
| 0:13.7 | I'm excited about this one because I think we live in a world where fear sales, we're |
| 0:20.2 | fear sales. |
| 0:21.6 | And it seems like we're constantly bombarded. |
| 0:24.1 | There are always things to be frightened about, things to be scared of, but maybe, but |
| 0:28.4 | maybe this time is different. |
| 0:30.8 | Maybe this time, the things that we should be scared of or things that we should actually |
| 0:34.2 | be scared of and we should allow that to inform the way that we go about making financial |
| 0:38.0 | decisions. |
| 0:39.0 | Fear can definitely be a manipulative tool, but here's what I want to teach people the |
| 0:43.2 | skill set of because this is something that's instinctually inside of us. |
| 0:48.4 | And if you can understand how fear, how greed and all these things work, you won't panic, |
| 0:53.8 | you won't make those desperate decisions from a behavioral standpoint that actually take |
| 0:58.6 | you three steps backwards. |
| 1:01.0 | We always want to be walking up the path to building wealth well. |
| 1:05.8 | And we know this that like when fear is high, when folks are out there and frightened, |
| 1:11.0 | when it comes to investing and we think about putting our dollars to work, we often times |
| 1:15.1 | get nervous and we start to get scared. |
| 1:17.8 | And when fear is low, we often get excited. |
| 1:21.3 | We are very much heard creatures with a herd mentality that when things are scary, we all |
| 1:26.9 | want to run for the exits and when things look great, we all want to run into the fray, |
... |
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