How to Quit Your Job the Right Way!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 19 February 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

We get a lot of questions about people wanting to quit their jobs and start something new - so how do you that the right way?

We'll walk you through that question and more in today's Q&A episode!

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Transcript

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0:00.0	Okay, a meets question is up next.
0:07.0	It says, my in-laws pulled all their money out of the market when one of their friends told them it will crash later last year.
0:18.0	So, how should they best re-enter the market now that they're in this position.
0:24.0	Now think about you know they didn't sell in December 31st after the market ended up
0:29.6	being up over 20%. You know they sold probably.
0:32.4	I bet it is the third quarter. The third quarter. I bet they sold probably.
0:32.5	I bet it in the third quarter.
0:33.5	In the third quarter.
0:34.5	I bet they sold when things are scary.
0:35.5	And man, oof!
0:37.5	That hurts because fourth quarter was really, really good last year.
0:41.5	Market made a lot of money in the fourth quarter.
0:44.0	You know the way to get them back in is not to say I told you so.
0:47.0	No, no, no, not at all, not at all.
0:50.0	Here's the way that I would approach this, I mean if I was going to have the conversation,
0:53.8	hey guys, I know that you made an emotional decision and unfortunately it did not work out.
0:59.2	We all know the markets are fairly volatile.
1:01.2	It could have worked out differently. You could have sold in second
1:03.7	quarter and missed all the third quarter and you would have felt great about this decision.
1:07.3	I know that when it comes to me, and by the way you would have felt bad about it after you got back
1:12.2	to the fourth quarter.
1:13.1	You'd only felt good for one quarter at that decision.
	...

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