I Tried Timing the Market and Got Burned

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 21 February 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Let's go straight to the phone lines where we have Avery and Newport News, Virginia.
0:27.0	What's going on, Avery?
0:28.0	Hey, Jayden Rachel, it's so great to talk to you.
0:31.0	I can't see you guys in May.
0:32.0	Awesome. Oh, fun! You're kind of the total. It's so great to talk to you. I can't see you guys in May.
0:32.8	Awesome.
0:34.0	You're kind of the total money makeover weekend?
0:37.5	Oh, yeah, absolutely, and I'm bringing a friend too.
0:39.8	Love it.
0:40.4	That's exciting.
0:41.9	Oh, love that. How can we help today?
0:44.0	All right, so here is the situation. My mom always says the strongest thing in the
0:48.8	universe is compound interest. My brother always says time in the market
0:52.4	beats timing the market every time and I thought I was smart enough to time a dip I had about 21,000 dollars worth in a fidelity mutual fund in my Roth IRA and I sold my positions on it back in
1:05.1	September. I was going off a bad hunch and have watched the market rally
1:09.8	by like at least 20% cents and I calculated that I've messed out on about $4,000 worth of gross.
1:18.0	I'm kicking myself.
1:19.0	I still contribute weekly for that $21,000 is still sitting there in the account.
1:24.0	I feel like I've learned my lesson, but what do I do now?
1:27.0	Should I buy back in or should I wait for the rally to end and maybe buy in at a dip?
	...

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