Confidence Corner
Have you been pulled in by the marketing messages behind some financial ads? We talk about common themes and how to pick the right strategy for you.
Whether watching the big game on TV or surfing the web, you might come across an advertisement about money. These money ads are designed to capture your attention. Today we’ll discuss the messaging behind these ads and what you should keep in mind.
One message is to “invest like you’re the 1 percent.” This plays into our greed and desire to feel like we’re sophisticated. Nathan says that while you may get lucky, statistically, it has similar odds to gambling. Instead of investing like the 1 percent, focus on what is attainable and realistic.
Another common theme is to become a master with a course. But those programs that tell you when to buy and sell or a class that charges thousands of dollars doesn’t always add up. Be careful with that. Ultimately, they are trying to sell the course.
Some financial headlines will appeal to your emotions by warning you to protect your nest egg. Make sure you pay attention to what you’re protecting though. There’s a positive and negative to pretty much every type of investing out there. Make sure you don’t put your entire nest egg and put it into something that is “secure” when it’s actually not the best thing for you. With the market trending downward, you might feel worried that things aren’t going well. Have a good mix that fits your plan. Address these things with an advisor that you trust to see what makes sense for you.
Listen to the entire episode or skip ahead using the timestamps below.
0:59 – Nathan shares about the latest change at work.
3:33 – Money ads are designed to capture your attention.
4:01 – “Invest like you’re the 1 percent.”
7:46 – “Master this course.”
10:00 – “Secure your future.”
15:22 – “Is everything crashing down?”
A Point Of Wisdom:
“Volatility is a part of investing. Don’t just change things because the market has you worried. Change things because there’s a reason behind changing them.”
-Nathan O’Bryant