This is the seventeenth day in our 31-Day Money Challenge. Over 31 days we’ll publish 31 podcasts, each designed to help you move closer to financial freedom. Yesterday we looked at why it’s important to invest like a business owner. In today’s podcast, we interview Larry Swedroe, author of Think, Act, and Invest Like Warren Buffett.
- What is Portfolio Suicide and how can you prevent it.
- What advice does Warren Buffett give us about how to invest?
- Should we base our investing decisions on market forecasts?
- Why overconfidence in our ability to invest can harm our portfolio.
- How understanding the history of the stock market can help us avoid mistakes.
- How an asset allocation plan can help us stick to an investing plan.
- The importance of learning from investing mistakes.
Resources Mentioned in the Podcast
Listener Questions & Comments
Here are listener questions and comments addressed in this podcast:
Sheila: “I gave up cable! I’d rather save the money. Watching TV is not “living” as one of your readers said. Plus it’s a monopoly and we are being ripped off.”
Lee: “Really interesting idea BUT where is anyone making 8% or 9% a year?? In recent memory, I was making 6% a year in a money market fund vs the hypothetical 7% historical average in the stock market. Now, my money market fund pays pennies a month. Although it’s a great idea, I feel like it’s irresponsible to suggest that people will achieve such a high rate of return.”
Paul: “I found the Doughroller podcast on episode 3 and have listened to almost all of the episodes. I really appreciate the work you do and want to thank you for the podcast.
Money was an issue for my family when I was growing up and I remember the arguments my parents did have was around money. My girlfriend and I are starting to discuss marriage and I want to make sure we are on the same page about being fiscally responsible. Can you provide any recommendations on how to manage your finances as a couple? You often mention about how you and your wife worked together to get out of debt, do you have your own banking accounts and a joint bank account? Do you have a monthly portion of your paycheck go to your own account and a portion go into a joint account? I am really looking for templates about what works for others? We both work and see paying off debt as a priority?”