104: How to Invest When the World Feels Dangerous

Take Back Retirement

Volatility and recession and crashes! Oh, my! Today, our hosts Stephanie McCullough and Kevin Gaines give their best strategies for successful investing when the world’s feeling dangerous.

They kick things off with some pointers on riding out market ups and downs. It all comes down to sticking to a long-term investment plan, no matter what’s happening around you. Remember the 2008 financial crisis? Stephanie and Kevin talk about how markets always bounce back and why it’s best not to fret over the dramatic headlines.

They also discuss ways to manage your wealth during short-term crises. It’s important to keep a nice stash of cash for those “just in case” moments, such as being between jobs or moving to a new city. Knowing your expenses inside and out is a big confidence booster, making you feel more in control when life throws those curveballs.

Stephanie and Kevin also detail the importance of having open money talks with your family. Talking through retirement savings and possible inheritances with your loved ones can keep future surprises at bay.

Our hosts wrap up by breaking down the difference between market sentiments vis à vis economic realities, hammering home the all-important lesson that investing is a marathon, not a sprint!

Key Topics:

• A Note on Scary Headlines (00:00)
• The Market as a “Discounting Mechanism” (07:11)
• Knowing When to Cash Out and When to Reenter the Market (14:28)
• “How Bad Do You Really Think It’s Going to Get?” (19:19)
• Preparing for Short-Term Emergencies (22:09)
• Having Money Conversations with Your Loved Ones (29:45)

Resources:

• Elm Wealth Crystal Ball Trading Game
• Take Back Retirement Ep 64: What is Money Insurance?
• Take Back Retirement Ep 66: Transform Your Relationship with Money: Lessons from Bari Tessler

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You can find the transcript and more information about this episode at www.takebackretirement.com.

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