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Talking Real Money - Investing Talk

Our Own Worst Enemy

Talking Real Money - Investing Talk

Don McDonald

Education, Investing, Business, How To

4.5811 Ratings

🗓️ 10 July 2023

⏱️ 35 minutes

🧾️ Download transcript

Summary

"Do as I say, not as I do," Many in the financial advice business epitomize this aphorism. A few are brave enough to admit that they fail to follow their own good advice. One of those is Christine Benz from Morningstar. Why do we fail to follow what we know to be good financial advice? That's up for discussion in this episode. Callers want to know: Is there a better parking place for a future home down payment? Do you need an emergency fund in retirement? Can money be moved from a regular...

Transcript

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0:00.0

Reality Radio for a really great future.

0:08.0

We're talking real money.

0:10.8

Yeah, let's get that phone number thing out of the way.

0:13.1

You want to call us?

0:14.0

Okay, numbers 855-935-935 talk.

0:16.5

There you go.

0:17.4

855-935-8-255.

0:19.4

Call us.

0:19.9

We'd love to talk with you. And we want to try to make you a better

0:26.0

investor. And we do this all the time here on this show called Talking Real Money. But you

0:31.3

keep getting in your own way. I'm Don. Tom's over there. You're there. And you're the people

0:36.5

who keep getting in your own way.

0:38.6

This was, this point was driven home to me recently. I just read an article. I think it was published yesterday at Morningstar by someone we really like. We admire her. We think she does good work. Her name is Christine Benz.

0:53.1

And the headline of the article is a very, very interesting piece.

0:59.7

Do as I say, not as I do.

1:03.4

On my failings as an investor is the subtitle.

1:07.5

And the reason this hits home with us is because we talk to so many of you who call us and say,

1:14.6

Hey, Don, hi, Tom, you know, I listen to you all the time.

1:18.5

I follow your, uh, your, your, your, your, your, your, your suggestions.

1:24.1

And, uh, then, then they come to meet with us and Tom goes, what do you say? I was giving you the

1:29.5

option to fill in a line. They say, look at all these accounts. I say, why, which part of the show

1:36.7

were you listening to? There you go. Because it's not the part about investing, obviously,

...

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