Stuff About Money They Didn't Teach You In School

著者： Erik Garcia CFP® Xavier Angel
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  • They might not have taught you the stuff about money you needed to know to build wealth, but Xavier and Erik are ready to take you back to school. When it comes to money, it is never too late to start learning.
    2021
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  • Episode 73: Should My Agency Be My Only Retirement Plan? Insights with Carey Wallace

    Episode 73: Should My Agency Be My Only Retirement Plan? Insights with Carey Wallace
    2024/09/24
    In this episode of the "Stuff About Money" podcast, host Erik Garcia, CFP®, BFA, ChFC®, welcomes back Carey Wallace to tackle the question: Should your insurance agency be your only retirement plan? Carey shares her expertise on diversifying retirement strategies, the risks of relying solely on your agency, and the importance of planning for a secure financial future. Erik and Carey discuss practical steps to evaluate your current retirement approach, explore alternative investment options, and ensure a balanced financial strategy. Learn how to prepare for a successful retirement and maximize the value of your agency with insights from Erik and Carey's experience in financial planning and agency management. Episode Highlights: Carey discusses the importance of understanding your agency's true value early. (3:24) Carey talks about the factors that determine an agency’s valuation, including profitability, transferability, and growth. (6:00) Carey shares her experience working with clients to prepare their businesses for a profitable sale five to eight years in advance. (11:24) Carey highlights that independent insurance agencies can create significant wealth but also require prudent financial management. (17:10) Carey emphasizes the limitations of an agency if the owner hasn’t prepared for a change in circumstances. (27:00) Carey explains the necessity of balancing investments in technology, infrastructure, and talent to scale an agency. (34:52) Carey mentions that having industry-specific professionals can greatly impact an agency owner's financial planning and strategy. (42:15) Key Quotes: “I fully believe that independent insurance agents can live a very nice lifestyle and you can also, if you're living beyond your means, you can find yourself having to continue to work.” - Carey Wallace “If you have somebody who understands your business, they're going to be so much more impactful than someone who doesn't and be able to piece all this together.” - Carey Wallace Resources Mentioned: Carey Wallace AgencyFocus Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
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    44 分
  • Episode 72: Momentum Investing: Exploring Relative Strength with Ian Saunders

    Episode 72: Momentum Investing: Exploring Relative Strength with Ian Saunders
    2024/09/10
    In this episode of the "Stuff About Money" podcast, host Erik Garcia, CFP®, BFA™, ChFC®, welcomes Ian Saunders, Senior Research Analyst for Nasdaq Dorsey Wright. They explore the world of Relative Strength, also known as Momentum Investing. Ian draws a compelling analogy to March Madness, highlighting that top seeds have an 80% chance of winning their games, similar to how strong investments are identified. Throughout the discussion, Ian explains what Relative Strength is and how it differs from other strategies. He shares insights into the metrics used for measurement, optimal time frames for assessment, and the process of identifying promising investments. They also explore the advantages and limitations of this strategy, its performance in various market conditions, and the impact of AI on analysis methods. Gain valuable insights into how Relative Strength can enhance your investment decisions. Episode Highlights: Ian shares about his experience with Dorsey Wright and the evolution of the firm, especially after its acquisition by Nasdaq. (01:36) Ian discusses what he wishes he knew about money earlier, highlighting the importance of understanding technical analysis alongside fundamentals. (03:24) Ian explains the concept of relative strength (momentum) investing. (07:17) Ian discusses the practical application of relative strength investing in creating portfolios. (10:44) Ian outlines the main advantages of relative strength investing, such as its objectivity and systematic nature, which help remove emotional biases from investment decisions. (18:28) Ian addresses the limitations of relative strength investing, particularly during market conditions where discernible trends are lacking. (22:44) Ian shares his comments on the current market environment and how relative strength strategies have adapted to recent market challenges and opportunities. (24:24) Ian speculates on the potential impacts of artificial intelligence on investment strategies, emphasizing how AI might speed up data processing without fundamentally changing decision-making processes. (33:18) Key Quotes: “Our approach is a little bit different because it looks at these relative strength comparisons to identify which areas have the best momentum.” - Ian Saunders “Relative Strength Investing, RSI, is essentially taking the price movement of two things and see which one wins that game right now.” - Ian Saunders Resources Mentioned: Ian Saunders Nasdaq Dorsey Wright Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
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    41 分
  • Episode 71: Should I Adjust My Portfolio? The Emotions of Investing with Dr. Matt Morris

    Episode 71: Should I Adjust My Portfolio? The Emotions of Investing with Dr. Matt Morris
    2024/08/27
    In this episode of the "Stuff About Money" podcast, host Erik Garcia CFP®, BFA™, ChFC®, is joined by long-time friend of the show, Dr. Matt Morris. Together, they tackle the question: "Should I adjust my portfolio?" as they navigate the emotions of investing in a volatile market. Erik provides insights into current market noise, discussing factors like employment rates, Japan's rate changes, the federal reserve, and media influence on investor sentiment. Dr. Matt and Erik discuss strategies for managing emotions and making informed decisions amid uncertainty. The conversation explores stories from the trenches and examines destructive and disruptive behaviors impacting wealth building. Erik and Dr. Matt emphasize the importance of attaching purpose to your investments. By managing emotions with objective facts and educating oneself on market performance, investors can maintain perspective and avoid fear-based decisions. Tune in to gain valuable insights and learn how to keep your investment strategy on track despite market fluctuations. Episode Highlights: Erik explains the importance of active listening and respecting clients' emotions in financial planning. (3:00) Dr. Matt discusses learning from Erik about behavioral finance and how irrational behavior can affect financial decisions. (5:32) Dr. Matt brings up the complexities of the stock market and Erik responds with an analogy comparing it to a highly emotional client. (10:13) Dr. Matt recounts the alarming news headlines from August 7th that stirred market fears, leading to a broader discussion on media impact on investment behavior. (15:07) Dr. Matt shares a personal experience of reacting to market news and consulting Erik, leading to a discussion about the proper timing for adjusting investment strategies. (22:32) Erik discusses the significance of aligning investment decisions with long-term financial goals and not succumbing to short-term market events. (27:10) Erik emphasizes the commonality of market pullbacks, correcting misconceptions about market corrections and their normalcy. (39:58) Dr. Matt and Erik discuss the importance of aligning investment decisions with long-term financial goals, not short-term market movements. (42:09) Key Quotes: “I think the most successful financial planners are the ones who are good at investor management.” - Erik Garcia “Making a decision that impacts your long-term investment strategy based on a short-term economic market-driven event is often a poor decision.” - Erik Garcia “How do fear and alarm influence my decision making? And that can be financially, but in my field, it's often relationally. Fear is a very effective driver of behavior change.” - Dr. Matt Morris Resources Mentioned: Dr. Matt Morris Matt Morris & Associates Erik Garcia, CFP®, BFA Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors
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    48 分

あらすじ・解説

They might not have taught you the stuff about money you needed to know to build wealth, but Xavier and Erik are ready to take you back to school. When it comes to money, it is never too late to start learning.
2021
個人ファイナンス 経済学
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