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, Investing, Business

4.7 • 3.1K 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! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

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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