Financial Sabotage: Are You The Biggest Foe Of Your Own Financial Independence?, Ep 60
Posted
November 17, 2021
What’s up! It’s episode 60 of Payne Points of Wealth! Hard to believe we’re 60 episodes in! We’ve got late nineties stock market fever. Literally, everything is going up right now. We’ve got a huge melt-up. It’s starting to look a lot like the late nineties when those internet stocks were just rocking. We’re going to tell you why we think this is a lot like the late nineties. We’ll hit on what you have to be careful about because there are bubbles forming, what you need to avoid in your portfolio and inflation. On the tipping point today, we’re going to talk about financial sabotage. What are you doing right now that’s sabotaging your path to financial independence.
You will want to hear this episode if you are interested in…
Never seen a market like this [1:43]
As good as it gets [5:25]
The Tipping Point [9:50]
Don’t allow your risk tolerance to fluctuate with how well your portfolio performs [12:11]
Greed takes over fear [15:15]
Hidden Facts of Finance [19:29]
Could it get any better for the economy?
Profits are extremely strong right now. Look at the third-quarter earnings, it’s just been through the roof. Next quarter’s earnings are going to be good again too. We’ve got a hiring frenzy going on. Unemployment’s coming down precipitously. We have all these people that have come off unemployment benefits getting back in the workforce and wages are going up. What’s better than that. You’re getting a raise at work, you have more money to spend and the fed isn’t raising rates anytime soon, they’re going to keep the party going. This is probably as good as it gets when it comes to the outlook for the economy.
This week on the tipping point: Financial sabotage
One thing that we’ve found managing all the accounts that we manage is a lot of times people put themselves in a position of financial sabotage. They make decisions that hurt them on their path to financial independence. So in this episode, we talk about some of the things that we find that people do that you need to avoid so you don’t sabotage your financial life.
Don’t stalk your portfolio. Investing is hard, it’s counterintuitive, when there’s good news sometimes the market sells off. If there’s bad news, the market goes up. It doesn’t seem to make sense. If you’re watching every day, checking your portfolio balance every day, it’s a recipe for disaster. I