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Money Guy Show

"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

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

4.62.8K Ratings

🗓️ 10 July 2024

⏱️ 33 minutes

🧾️ Download transcript

Summary

"​​If I have a house down payment money in the market currently and I’m looking to buy a house in 3 or so years, should I pull it out now? Or just stop continuing to put money in?"

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

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Transcript

Click on a timestamp to play from that location

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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