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12/365: What Happens when your financial plan fails?
In the podcast, I teach about two different stories about money: Lehman Brothers and GameStop.
Lehman Brothers looked super strong financially, even better than some big banks, but when people lost trust, they went bankrupt. On the other hand, GameStop was almost out of business in 2020, but then people on Reddit started talking about it, and suddenly, it became valuable!
These stories show how emotions and what people believe can change everything about money, even when the numbers seem good. Many investors want certainty and are shocked when things don’t go as planned. It’s important to remember that while we can calculate money, emotions are trickier and can lead to big problems.
In this podcast, I also teach you about real people and how their emotions impact their financial decisions. That’s why having a financial plan that considers not just the money but also our relationships and personal lives is crucial. The speaker discusses the "Fifth Dimension of Wealth," which includes health, relationships, spirituality, and finances. This new way of looking at wealth helps us understand that it’s not just about having money but also about living a fulfilling life.
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By Joe SotoIn the podcast, I teach about two different stories about money: Lehman Brothers and GameStop.
Lehman Brothers looked super strong financially, even better than some big banks, but when people lost trust, they went bankrupt. On the other hand, GameStop was almost out of business in 2020, but then people on Reddit started talking about it, and suddenly, it became valuable!
These stories show how emotions and what people believe can change everything about money, even when the numbers seem good. Many investors want certainty and are shocked when things don’t go as planned. It’s important to remember that while we can calculate money, emotions are trickier and can lead to big problems.
In this podcast, I also teach you about real people and how their emotions impact their financial decisions. That’s why having a financial plan that considers not just the money but also our relationships and personal lives is crucial. The speaker discusses the "Fifth Dimension of Wealth," which includes health, relationships, spirituality, and finances. This new way of looking at wealth helps us understand that it’s not just about having money but also about living a fulfilling life.