"I'm Buying a House in 3 Years - Should I Stop Investing?"
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 10 July 2024
⏱️ 33 minutes
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| 0:00.0 | All right, Jacob's question is up next. It says, can I make up for lost time in the market if it were to crash. I'm 29 and just |
| 0:16.0 | beginning my investment journey. Thanks and for some context I'm on step five and |
| 0:20.6 | six of the food. So how does the crash fit into this? Can I make |
| 0:25.0 | up for lost time? Yeah if the market does crash can he make up for lost time? |
| 0:29.1 | Yeah so he should just wait for the next giant downturn and then he should he all he got to do is |
| 0:34.8 | time the very bottom of it right we've done shows on oh dear we don't there's no |
| 0:40.2 | you don't try to time it remember time in the market is better than timing the |
| 0:44.4 | market so don't don't do that we've done some of those shows where we've |
| 0:47.7 | shown people who've waited to try to buy at the perfect time or people who've |
| 0:51.2 | freaked out and sold at the worst of times. |
| 0:53.8 | The best way to handle this, Jacob, is always be buying. |
| 0:56.8 | Just set up an automatic investment plan so that way your wealth journey becomes inevitable |
| 1:01.9 | because it's just happening |
| 1:03.6 | automatically for you every month. |
| 1:05.9 | But step five, you don't have to worry, if I was 29 years old again, |
| 1:11.0 | I'd rock and roll this thing. I mean because you have decades before you're |
| 1:15.1 | going to need these assets. You're probably in some weird financial mutant type of |
| 1:18.9 | way you're probably hoping for as much chaos as possible because yes there is a financial |
| 1:24.1 | mutant opportunity whenever markets have volatility and you're buying every |
| 1:28.0 | month yes you're getting in cheaper and cheaper every time there's chaos out |
| 1:32.1 | there that's why there's a |
| 1:33.1 | conflict between young people and retirees whenever there is chaos out |
... |
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