There are a lot of different philosophies on the subject of if you should stay in the market through the up and down times or not. Some of my friends say they get out when it is high and then buy when it is low. They swear they make a ton of money doing it that way. Yet, I don’t have a crystal ball on when the Stock Market is at around the top and not going any higher. I would have felt bad jumping out of the Stock Market when it was even at 20,000 and then waiting for a crash. I would be missing out on all these dividends and growth we have been receiving.
I have been to classes and heard from many other people that was against trying to time the market and they showed examples of why not to try jumping in and out.
As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.
The mental part of Investing is a challenge and with all the news that hits us constantly from our TV’s, Radio Stations, News Paper to Social Media posts we are smothered by good or bad news on the stock market and opinions.
We teach the boys to hold strong to their beliefs and ride out the stock markets roller coaster. To hold on to their stocks and not to try to time the market. They think it is boring to just hold on to their stocks and not trade them. I hope the older they get they will realize that holding is the way and yes it can be boring to some.
To also have the money they have in Stocks, Real Estate or Businesses. Not to be sitting around not working for them.
Of course, we want them to keep building on their Financial and Investing education each year and work with their Financial Team to make the best choices possible towards their Financial Freedom goals. We want them to learn how to make the best educated choice when picking a stock. They should feel that stock is a solid company and will be around through their retirement years.
The boys are human and the stocks they own go up and down. So often they will say “If I had only sold it before it dropped”. Each time I remind them that they are in for the long run and they have probably at least forty more years till they retire.
With AI technology coming into play who knows what the world of Investing will look like in the next forty years for our kids. I feel AI is the future for sure. For all the Details listen to the full Podcast Show.
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Sources and Resources from Podcast (Available in Show Notes)
1, Tony Robbins Book called “Unshakeable”
https://paulminors.com/blog/unshakeable-tony-robbins-book-summary-pdf/
