Show Notes
Season 2 is now in the books! Host Jeff Harrell summarizes the investing lessons learned in the second season, highlighting the theme of each of the 10 episodes—ultimately to help you sidestep those common investing pitfalls that have trapped other investors.
Jeff also shares about the ways you can stay connected to the show and reminds listeners that the path to financial independence (FI) is not complicated but requires patience.
Don’t forget, when it comes to investing, always… “ignore the noise.”
(Season 2 Episode 11)
Podcast produced by Ted Cragg of QuickEditPodcasts.com
Music Credit: Dream Cave / Adventure Awaits / courtesy of www.epidemicsound.com
Transcript
Season 2 of Invested Poorly: Sad Tales of FInancial Fails is now in the books.
I truly hope you enjoyed this season and that it leads to at least one actionable step you will take to advance your path to financial independence, or FI. As you’ve heard, I’m certainly not lacking in stories about those who have chosen poorly along their path to FI. I trust you will learn from their investing mistakes to save money—and gain time.
Our second season focused on two new topics with lessons about security selection and investment execution.
Quickly recapping the episodes, the first four highlighted stories of how investor greed and impatience can lead to actions that satisfy your ego more than adhere to sound financial decisions. We covered sophisticated investing strategies, diversification, earnings reports, and account monitoring, with stories of how you can become your own worst enemy by following the financial news too closely.
Episode 5 focused on which kinds of investments you should hold within different account types and how taxes should impact your decision-making process. Obviously, taxes are never fun to talk about, but neglecting this component of investing is a sure-fire way to prolong your FI journey. Episode 6 piggybacked on this, highlighting how the love affair many investors have with dividends is not only irrational, but tax inefficient.
Episode 7 underscored the point that something as small as 1% should not be ignored and will cost you years of additional accumulation if you don’t address it early. Episode 8 hopefully gave some listeners a kick in the butt to stop procrastinating about that one account that needs to be addressed but the potential headache of having to deal with it keeps pushing it down the priority list.
The final two episodes offered a behind-the-scenes look at how financial advisors address traditional retirement questions. In episode 9 I gave my take on why financial planning software is probably a lot less useful than many think, but in the right circumstances can be helpful. And to end the season, in episode 10 I addressed one of the greatest concerns we all have when it comes to our finances…running out of money. Fortunately, if you’ve made it this far through the podcast, I’m betting this won’t happen to you.
If you missed any of this season’s episodes, or just joined us and missed the first season altogether, be sure to go back and check out those timeless stories when you have a chance.
I’m not going to sugar coat it. The path to FI is something that will take most of us many years, or even decades, to fully realize. And as my adorable, but sometimes impatient, little niece likes to ask, “Is that a long time?” Yes. I’m sorry; there is no denying the fact that the answer to this question is yes, but after listening to two seasons of Invested Poorly, I hope you now feel better-equipped to forge ahead with your path to FI by taking actions that balance quality of life with fiscal responsibility.
If you can avoid learning the hard way and instead sidestep the most common investment mishaps we cover in this podcast, you should be able to shave years off your personal timeline to reach financial independence.
To be alerted when future seasons and bonus episodes are released, subscribe today in your favorite podcast player. If you’ve enjoyed the show, please leave a 5-star rating and review on Spotify, Apple Podcasts, or your favorite player app. Your ratings and reviews will help make this show more visible. And of course, please share the show with all family members and friends who you think would benefit. Your support “pays it forward” to help more everyday investors and individuals like you learn just how attainable financial independence really can be.
Finally, be sure to check out my website at AreYouFI.com (that’s A R E Y O U F I dot com), where you will find more information about my personal FI journey, as well as the resources I use to make wise investment decisions with my own money. You can also join our mailing list and provide me with feedback.
Thanks again for listening to the second season of Invested Poorly and don’t forget, when it comes to investing, always…ignore the noise.
I’m your host, Jeff Harrell, and I’ll see you next time.
Invested Poorly: Sad Tales of FInancial Fails was created for informational purposes only and should not be relied on for specific tax, legal, or investment advice. You should consider consulting a qualified professional to review your situation before engaging in any transactions. Investing involves risk, including loss of principal and past performance is no guarantee of future results.
This podcast was produced by Ted Cragg. Learn more about creating podcast mini-series like this by visiting QuickEditPodcasts.com.