Afford Anything
Ask Paula: I Sold All My Stocks Last Year. Now I'm Kicking Myself
Aug 16, 2023
Angie, who sold all her stocks last year, seeks advice on what to do with her $500,000 cash position. Christina wonders if she should refinance her student debt. A caller asks about how Paula and Joe handled their primary residences when moving out of state. Topics include panic selling, navigating financial news, paying off student loans, refinancing considerations, selling properties, living without possessions, and building towards financial independence.
01:10:09
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Quick takeaways
- Panic selling investments can have negative consequences and it's important to focus on long-term goals.
- Trying to time the market is futile; ignore financial headlines and focus on your own financial goals and plans.
Deep dives
Importance of Not Panic Selling Investments
The podcast episode emphasizes the importance of not panic selling investments, highlighting the negative consequences that can arise from succumbing to fear and making impulsive decisions. The speaker shares personal experiences as a financial advisor, witnessing the detrimental effects of panic selling on clients' portfolios. They emphasize the need to focus on long-term goals, ignore short-term market fluctuations, and strategically invest based on historical trends.
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