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Talking Real Money - Investing Talk

Moody About Money

Talking Real Money - Investing Talk

Don McDonald

Investing, Education, Business, How To

4.5810 Ratings

🗓️ 16 March 2023

⏱️ 22 minutes

🧾️ Download transcript

Summary

Emotions are good for many things, just not for investing. Tom and Don discuss the many money moods that can be financial future killers. Plus, we hear from listeners about: A 401k that only offers Principal products. What is the best way to invest for a small-cap value tilt? Learn more about your ad choices. Visit megaphone.fm/adchoicesQuestions? Comments? Click!

Transcript

Click on a timestamp to play from that location

0:00.0

Reality Radio for a really great future.

0:08.0

We're talking real money.

0:10.8

I'm an emotional creature.

0:13.2

I am emotional.

0:15.2

And I get emotional about a lot of things.

0:17.9

I get emotional about my spouse, my children, the dogs, my co-host.

0:26.5

I get emotional when good friends die, like my dear friend Pat Schroeder,

0:32.3

former congresswoman from Colorado who just died a few days ago.

0:35.6

I get emotional about those things. And you know what?

0:39.2

Getting emotional about those things is good. That is the proper use of the emotional component of human

0:46.0

beings. Yet there's one thing we get emotional about that we really shouldn't and we do it way too often and it really hurts us and that is

0:58.4

allowing our emotions to motivate to decide what we do with our money to make investing decisions

1:08.7

for us emotions are your worst enemy when it comes to money.

1:14.7

They are financial killers. Yeah. And by the way, you get emotional about money, too. You're

1:22.1

not going to admit it, but we all do. I really, I got to tell you, the one area where I fight to control it the most, though, is money. You fight to control it. But sometimes you look at your bank account, go, oh, there's more than I thought. Or, oh, there's less. I mean, we all do that. Okay, a little bit. But I don't let it decide what I'm going to do with my money. I do not do that. Absolutely 100%. Never a purchase you made that was like, No, with my investments. Okay, my investments. Okay, with your investments.

1:47.9

Okay, your money. I do not do that. Absolutely 100%. Never a purchase, never a purchase you made that was like,

1:45.2

no, with my investments. Okay. My investments. Okay. Your money, because that's a big topic. Yeah, it is. You're right. Investing. I should say investing. It's as far as I can go. That's all I can control. I can control it with investing. And the other stuff, yeah, well, what that's fair. That's fair. It's only a couple of bucks.

2:00.6

Another microphone.

2:01.9

Hey, what's another microphone?

2:03.6

You only got... And the other stuff, yeah, well, what that's fair. That's fair. It's only a couple of bucks. Another microphone.

2:02.0

Hey, yeah, there you go.

2:03.1

You only got 19 or whatever in the studio today.

...

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