Unlikely Wisdom When It Comes to Your Finances

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Today’s Question:

You might not expect it, but these celebrities bring unlikely wisdom when it comes to your finances. Have you heard these quotes?

Quote Of The Week:

[2:46]Wisdom From Sam Ewing

  • Sam Ewing who played with the Chicago White Sox said “Inflation is when you pay $15 for the $10 haircut you used to pay for $5 when you had hair.” Make sure your wealth outpaces inflation.

The Confidence Corner:

[4:51]Unlikesly Wisdom. We’ll hear unlikely wisdom from people who may not be financial experts but give us some lessons that also apply when it comes to our finances.

[5:36]Lindsay Lohan said, “I am my own worst enemy, and I know it.” Knowing you are your own worst enemy when it comes to your portfolio helps you fix your problem. You think you are smarter than everyone else, and your emotions can pull you in the wrong directions. An advisor can coach you through your emotions to make better decisions. It’s hard to do it yourself.

[9:14]Rosie O’Donnell said, “Anybody that you put on TV for five hours a week is going to say something stupid at some point.” Several celebrities have said when to get in or out of the market, but have been completely wrong. We have to remember there is 24-hour news coverage on TV, and it is often entertainment. Don’t put too much faith in what you hear in media.

[12:35]Mike Tyson said, “Everybody has a plan until they get punched in the mouth.” We have things that happen in our life that punch us in the mouth, and sometimes we end up straying from the plan. Having an advisor will help you know when to adapt and when to stay on track.

[15:48]Mailbag. Marty says he’s always been an aggressive investor but asks at what age he is supposed to get conservative.

A Point Of Wisdom:

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