
Coasting in Retirement Shorts: David Stidham
Josh interviews David Stidham of IL Group and Crye-Leike Vacations in the first episode of Coasting in Retirement Shorts!
Josh interviews David Stidham of IL Group and Crye-Leike Vacations in the first episode of Coasting in Retirement Shorts!
The title of today’s episode is “How to Avoid Financial Advisor Fraud”. And we are going to expand that to include investment managers and hedge fund managers – basically anyone that manages other people’s money. In this episode we are going to detail some of the boxes you want to check with anyone with which you wish to invest, and discuss the red flags to look for, some obvious, some not so obvious, unless you know the business well.
Josh Null and John Luke are here to discuss the silent killer of your money: purchasing power. The purchasing power of your dollars has been going down steadily over the years, what can you do about it? We are here to explain all of the details of why your purchasing power is decreasing and how you can solve the issue.
Today Josh is going to translate our different financial investment roller coaster approaches to how investors view the stock market. He is also going to explain a concept for those of you, that are like him and don’t care for roller coasters, especially those of you that don’t think you can stomach the extreme ups and downs of recent stock market volatility. There is a concept in the investing world called “Fear of Missing Out”, commonly known as FOMO. The Oxford dictionary defines FOMO as “anxiety that an exciting or interesting event may currently be happening elsewhere”, with the implication that you are missing out. The bad side of FOMO can lead to impulsive decisions by investors because they see people. Josh and Michelle will go through how to handle every financial FOMO on this week's episode.
I want to discuss what is called an “evergreen” topic with Jay Stubbs on our show – Long Term Care. I’ve been getting a lot of questions about long-term care recently, and as Jay is considered an expert in this field, I wanted to spend 15 to 20 minutes with Jay discussing everything a person should know about long-term care insurance and how to financially navigate an extended health care event. Let’s start with this because many listeners have probably never had this type of protection explained in detail to them – Jay, how do you define long term care insurance?
Regular listeners know that I tend to be skeptical of a lot of things related to my own industry, financial services, including a lot financial advertisements and glossy marketing content masquerading as responsible financial advice, as Michelle knows firsthand, I get very, very irritated when I hear someone in my line of work espouse a bunch of info that is nothing more than lies. And in times of market turbulence, this type of misinformation gets shouted from the roof tops. So with that in mind, we’re going to play a little game of “Just Stop It”, kind of like true or false, except, everything Michelle is going to say is false, and I’m going to try to smack some sense into those of you listening that are considering these financial tactics.