How to Invest Like a Boss: What to Know About Goal-Based Investing
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How to Invest Like a Boss: What to Know About Goal-Based Investing

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Favorite tips shared by Dr. Daniel Crosby and others in our weekly #CreditChat. Join us every Wednesday at 3 p.m. ET.

Favorite tips shared by Dr. Daniel Crosby and others in our weekly #CreditChat. Join us every Wednesday at 3 p.m. ET.

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How to Invest Like a Boss: What to Know About Goal-Based Investing Presentation Transcript

  • 1. INVEST LIKE A BOSS What to Know About Goal-Based Investing #CreditChat
  • 2. Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked with Dr. Daniel Crosby @incblot! “ Check Out All the Tweets and Resources: bit.ly/investment-boss
  • 3. FEATURING Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. His clients include Brinker Capital, Morgan Stanley, RS Funds, Grant Thornton and NASA. Follow @incblot
  • 4. @incblot #CreditChat Excluding their primary home value, most Americans have less than $25,000 in retirement savings.
  • 5. #CreditChat What are reasons why many people aren’t investing?
  • 6. Investing certainly qualifies as ambiguous, Tweet by @incblot so people tend to stay away for fear of a bad or uncertain outcome. #CreditChat
  • 7. Millennials like myself aren’t aware of investing options. Tweet by @GO_JuanitaR #CreditChat
  • 8. Tweet by @katiebissell Investing in a work 401(k) seems like a no brainer, but it’s harder to take the next step to other types of investments. #CreditChat
  • 9. #CreditChat How can we motivate ourselves and others to invest more for the future?
  • 10. Tweet by @incblot We need to think of saving/investing as a future benefit rather than a current loss. #CreditChat
  • 11. Tweet by @incblot First, you have to realize that you have a future self. You won’t always be the young, healthy, working person you are today. #CreditChat
  • 12. Tweet by @GoBankingRates Find your trust channels (writers, experts, friends or family), learn and don’t be afraid. #CreditChat
  • 13. Tweet by @LeslieHTayneEsq Instead of worrying about the risk, acknowledge the positive gains that can come with investing. #CreditChat
  • 14. Tweet by @incblot This “future self” can be hard to visualize, but they have all the same wants that “today” you has. #CreditChat
  • 15. Tweet by @FinEdChat Set retirement goals to plan for living life to the fullest ... #CreditChat
  • 16. Tweet by @incblot Realize the time value of money - spending $1,000 today means robbing yourself of many thousands later. #CreditChat
  • 17. #CreditChat What is goal-based investing?
  • 18. Tweet by @incblot Goal-based investing is tying investment behavior to deeply-held personal goals. Not rocket science, but seldom done! #CreditChat
  • 19. Tweet by @mariobonifacio Goal-based investing puts a name and face on the otherwise soulless numbers of investing. #CreditChat
  • 20. Tweet by @LeslieHTayneEsq Goal-based planning gives you an incentive to invest such as paying for a child’s college, retirement, etc. #CreditChat
  • 21. Tweet by @incblot Goal-based investors have been shown to save a great deal more and are much better at staying the course in a choppy market. #CreditChat
  • 22. #CreditChat Do you have advice for newbies just getting started with investing?
  • 23. Tweet by @incblot In every market, you control what matters most (your behavior) #CreditChat
  • 24. Tweet by @incblot Look for these three things: Price (low P/E, cheap stocks), Profit (quality co. w/ good margins) and Pitfalls (e.g. debt). #CreditChat INVESTING TIPS
  • 25. #CreditChat Do you have any favorite tools or resources to help you with investing?
  • 26. Tweet by @incblot Pick an advisor who is knowledgeable, has reasonable fees, and is a good behavioral coach who you can trust. #CreditChat
  • 27. #CreditChat What do you wish you knew about investing earlier in life?
  • 28. Tweet by @incblot It is just about impossible to reach financial goals without investing. We all have to get savvy. #CreditChat
  • 29. Tweet by @incblot Investing can be socially responsible and can reflect what matters most to you #CreditChat
  • 30. Tweet by @incblot The biggest thing I’ve learned is that investing is simple, but not easy. Rules are straight forward - just hard not to panic. #CreditChat
  • 31. Tweet by @incblot The biggest thing I’ve learned is that investing is simple, but not easy. Rules are straight forward - just hard not to panic. INVESTING #CreditChat
  • 32. #CreditChat Is it ever too late to invest? Do you have advice for those nearing retirement?
  • 33. Tweet by @incblot It’s never too late to invest, but you need to adjust your approach as you age. #CreditChat
  • 34. Tweet by @incblot If people would start early and be more aggressive, retirement would be a “no-doubter” ... INVESTING TIPS #CreditChat
  • 35. Tweet by @GOBankingRates Closer to retirement - it’s all about strategy. It’s never too late. INVESTING TIPS #CreditChat
  • 36. #CreditChat Any final tips for those who want to make smart investments?
  • 37. Tweet by @incblot Realize the decisions you make to act or not act are at least as important as decisions surrounding which stocks to choose. INVESTING TIPS #CreditChat
  • 38. Tweet by @incblot Buy inexpensive, highly profitable companies with low debt load and sit on them for longer than you’d like. INVESTING TIPS #CreditChat
  • 39. Tweet by @incblot Learn to cultivate a contrarian mind. Learn to savor the panic/fear, realizing that it’s a fantastic time for making money. INVESTING TIPS #CreditChat
  • 40. Tweet by @GO_JuanitaR Millennials, don’t be intimidated of what you can do with your money! Trust yourself! #CreditChat
  • 41. Join Our #CreditChat Every Wednesday: bit.ly/join-creditchat