Weighing Opportunities and Holding On In Down Markets (with JL Collins)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Personal Finance, Financial Planning, Education, Retirement, Investing, Cfp, Business, Money

4.4 • 2K Ratings

🗓️ 21 October 2020

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When you make a decision about your money, do you weigh how that plays against your long term goals? Doing so is called considering your "opportunity cost." Today's guest talks about both the process of thinking about opportunities AND discusses how to weigh down markets. Should you move your money? He's been through a ton of down markets and has a world of experience with them. Today we're airing a very special episode with JL Collins, author of The Simple Path to Wealth. Doc G (in an interview originally aired on the Plutus award-winning Earn and Invest podcast) caught up with Collins last year, and asked him many questions, that we'll play for you today.

What's your first response after finding out your online portfolio has been liquidated and cleared of its cash? Okay... so after THAT, you're probably calling your financial advisor until they pick up the phone, right? At the very least, solo investors should call the support line for their online brokerage.. right? What happens when NO ONE is available to help you figure out where the money went....or worse yet, when you do get a reply back it says that you'll need to hold tight for a few weeks? That's exactly what's happening to Robinhood investors... we'll unveil yet another issue at the troubled brokerage during our headlines segment.

In our second headline: day-traders are often ignored by long term investors, but new research indicates these very-same day-traders could be a driving force behind market fluctuations, including the market rebound this year. Don't worry - we'll cover what that means to you and your plan.

We'll finish out the show with a call from Ryan, who wants to know more about family contributions to a 529 plan. Ryan and his wife are expecting their first child, and would like their family members to contribute to their child's 529 plan instead of traditional gifts. Are there any online portals their family can use, or is it up to Ryan and his wife to collect contributions and investing the cash?

Of course, we'll save some time for Doug's trivia. Doug was feeling generous today with his dino-trivia, and opted for multiple choice responses... enjoy!

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Transcript

Click on a timestamp to play from that location

0:00.0	Hey, this is John in Seattle.
0:02.1	And when I'm not telling terrible jad jokes to anyone who will listen, I'm stacking Benjamins.
0:12.3	Live from Joe's mom's basement, it's the Stacking Benjamin show.
0:17.3	Yeah. Benjamin's show.
0:33.4	I'm Joe's mom's neighbor, Doug, and hello from, believe it or not, Texarkana, Texas.
0:35.2	We're back, people.
0:40.0	And to celebrate being back, what a show do we have in store for you today.
0:44.8	Help us welcome the man behind the simple path to wealth, J.L. Collins.
0:52.0	Plus, do we have day traders to thank for our recent monster bounce back after the big coronavirus drop?
0:53.8	Some experts think so. We'll break this down further in our headline segment.
0:57.2	And we'll toss out the Haven Lifeline to Ryan, who has a question about ways that family
1:02.8	can help save for the education of their new baby.
1:06.0	Congrats, Ryan.
1:07.1	I give you permission to name your baby Doug in my my honor if you like, but who are we kidding?
1:12.0	You're probably already going to do that, right?
1:14.0	And of course, I'll share some stimulating trivia with y'all.
1:18.3	I had to do it.
1:20.2	And now, two guys who might finally change their tune on day trading.
1:25.3	It's Joe and O. J-JUD-J-J-J-J-G. Yeah. their tune on day trading it's joe and oh jude jude j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j j n n n nn't you do the wakeboarding trading. You don't remember. Yeah, you just buy a few stocks in the morning.
1:44.6	Go buy some Louis Vuitton. Remember, you do the wakeboarding? Played that last week. Much. My life has changed, O.G. It is changed. I'm all just day trade for the win. Hey, everybody. Welcome to the Day Trade for the Win podcast. I am Joe Sal C. I average no money on Twitter and across the card table from me again triumphantly to celebrate Wednesday.
2:04.1	It's Mr. O.G. What's happening?
2:08.4	Wednesday's happening, man. Can you believe it? We're halfway through the week already.
	...

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