KEY017 - Why most people don't make money on their investments and what you can do about it.

Get Started. It's Free
or sign up with your email address
KEY017 - Why most people don't make money on their investments and what you can do about it. by Mind Map: KEY017 -  Why most people don't make money on their investments and what you can do about it.

1. 07 Feature Segment

1.1. So what is it about investing that makes very educated, smart people do completely illogical things?

1.1.1. Here's what I mean.

1.1.1.1. Let's say you were in the market for a new car.

1.1.1.1.1. You did your research, put the time and effort in to finding out everything that there was to know about every option, performance stat, you name it.

1.1.1.1.2. You know everything there is to know about that car. Even the price.

1.1.1.1.3. You then put the screws to the sales person. Because you know your price.

1.1.1.1.4. You use the internet to do your research. You know your price.

1.1.1.1.5. Then, after all that research, suddenly, the day you are ready to go and buy the car - the price is suddenly slashed by 30%.

1.1.1.1.6. What do you do?

1.1.2. So now let's say you were in the market for a new house.

1.1.2.1. You find your neighbourhood and you do your research.

1.1.2.2. You know everything there is to know about the area.

1.1.2.3. You know what you want and you know what you should pay for it.

1.1.2.4. You use the internet to do your research. You know your price.

1.1.2.5. You know the best streets to buy on.

1.1.2.6. You know everything there is to know about the area and what a good price is.

1.1.2.7. Then, after all of that research and patience, a home, fitting your criteria exactly comes on the market.

1.1.2.8. But, it comes on the market for below what you felt was a good price.

1.1.2.9. What do you do?

1.1.2.9.1. You get excited.

1.1.2.9.2. You drop everything to make the offer so you can snag that deal.

1.1.2.9.3. You got tremendous value for your money.

1.1.3. Now, let's assume it's time to make an investment.

1.1.3.1. You do your research.

1.1.3.2. You build your portfolio's target asset mix.

1.1.3.3. You set your geographic mix.

1.1.3.4. You feel you know exactly what you should buy.

1.1.3.5. Then, just as you are getting ready to move that money into your portfolio, the markets experience a downturn.

1.1.3.6. What do you do?

1.1.3.6.1. Usually nothing.

1.1.3.7. But, aren't you supposed to "buy low and sell high"?

1.1.3.7.1. Aren't you supposed to take advantage of opportunities when they present themselves?

1.1.4. So, what went wrong?

1.1.4.1. Well, here's a list (and by no means is this an exhaustive list) of what went wrong.

1.1.4.1.1. If you let your emotions dictate your investment making decisions, you'll be wrong every time.

1.1.4.1.2. You misinterpreted entertainment for advice.

1.1.4.1.3. You didn't invest in the investment programs you qualified to invest in.

1.1.4.1.4. You didn't know your numbers.

1.1.4.1.5. You became over-confident.

1.1.4.1.6. You let the fee tail wag the dog.

1.1.4.1.7. You made investment decisions based on the scenery that you see in your rear view mirror.

1.1.4.1.8. You didn't get basic math.

1.1.5. I've said it before and I'll say it again.

1.1.5.1. Financial Planning is the KEY, it always has been and always will be. Find yourself a great financial planner to work with today. You'll be glad you did.

2. 09 Bonus Segment

2.1. Where do you keep track of all of your passwords?

2.1.1. If you're like many people, you either don't keep track of them anywhere (this would actually defeat the purpose of multiple passwords) and you just rely on your memory for them or you put a private spread sheet together to record them all.

2.1.2. Well, I have a free solution that as long as you can remember one main password, you will always have access to all of your passwords.

2.1.3. Also, you can share your passwords with others so they can log in to your account - the cool thing is that you share the password with them but they never know what it is.

2.1.4. Introduce Lastpass.com

3. 01 Intro

3.1. This is The Key To Retirement Episode 17.

4. 04 In This Edition

4.1. In this edition of The Key To Retirement, I'm going to dive into the topic of why most people don't make money with their investments and what you can do about it.

4.2. And, in today's bonus segment, I am going to show you a free tool that you can use to manage ALL of your computer passwords...

5. 05 What's New?

5.1. Talk about some recent media attention.

5.1.1. Advisor.ca

5.1.1.1. Fear Premium

5.1.2. BNN

5.1.2.1. Invited on to BNN on June 1st.

5.1.3. Past work with Canada AM

5.2. If you are interested in Safe Social Media, check out our social media sites:

5.2.1. YouTube

5.2.1.1. www.youtube.com/ironshieldcfp

5.2.2. Facebook

5.2.2.1. www.facebook.com/ironshieldcfp

5.2.3. Twitter

5.2.3.1. www.twitter.com/ironshieldcfp

5.2.4. Google +

5.2.4.1. Google the words Google Plus and then when you get there, search for IRONSHIELD Financial Planning.

5.2.5. This is an easy way to begin your journey into social media in an risk free way. We will only deliver to you content we feel is worth your time.

5.3. Cross promote Fee Based Financial Planning Mastery.com