This Time is Not Different!
Be Wealthy & Smart
Linda P. Jones
4.8 ā¢ 883 Ratings
šļø 1 April 2020
ā±ļø 20 minutes
šļø Recording | iTunes | RSS
š§¾ļø Download transcript
Summary
Learn why the investing opportunity presented is not different than in past bear markets.
The most dangerous phrase in investing is "This time is different." Bear markets happen, and each time the reason is different, but the cycle and investment strategy isn't.
The chart showing how bear markets recover, specifically, after a first quarter than declines more than 10%, is postedĀ here. (Thanks to @RyanDetrick on Twitter).
Are you investing well for financial freedom...or not?
If you invest $10,000 per year for retirement, but earn only 2%, after 20 years you'll have $262,692 and after 30 years $431,908.
However, if you invested for growth and the stock market averaged 10% annually, your $10,000 per year would grow to $697,299 after 20 years and $1,983,928 after 30 years! A huge difference. Your compounding rate, and how well you invest, matters!Ā
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Transcript
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| 0:00.0 | Be Wealthy and Smart, episode 703. |
| 0:03.0 | I'm gonna live no rich life. If y'all know what I mean put your hands up and declare with me |
| 0:13.7 | yeah I'm full of time I'm gonna live a good life I'm gonna live the good life |
| 0:21.1 | a beautiful and glorious light Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.3 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor. Empowering |
| 0:42.4 | Women and Men Worldwide to Financial Freedom. |
| 0:45.2 | On today's show, I'm going to call this episode, This Time is Not Different. |
| 0:52.2 | The reason I'm saying that is because there's a very important and |
| 0:56.6 | famous phrase in investing and it's called the most dangerous phrase in investing and that is when people say this time is different. |
| 1:09.7 | Every time an investor says this time it's different they're proven that it's not |
| 1:16.4 | different so that's why I'm calling this episode this time is not different because I want you to see the similarities of this happening in other |
| 1:27.6 | situations even though we have a different cause this time even though that cause is different, the investing part of this is not different. |
| 1:39.1 | So that's what we're going to talk about today. |
| 1:41.0 | So in all stock market pullbacks there is some very deep, terrible, difficult |
| 1:49.6 | reason why the stock market is pulling back so sharply. |
| 1:54.0 | Whether it is something that is economic, |
| 1:58.0 | such as oil prices and interest rates going through the roof in 1974 or whether it is something not |
| 2:06.8 | economic such as the crash of 1987 which was completely set off by program trading going crazy and dropping the |
| 2:16.7 | stock market 23% in one day due to nothing really economically I mean a slight move up in interest rates over a weekend I remember and the following Monday the market dropped 23% from there it recovered and went on to new highs pretty soon after. |
| 2:37.0 | So we've had these big drops and they happen from time to time, |
| 2:42.0 | and there's different causes for each one. |
... |
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