The Investor Coaching Show with Paul Winkler

30-Year Bond Holders Learned a Tough Lesson: How to Avoid Their Mistake

Risk is a topic that quickly puts the average investor in a defensive position. Are you taking enough risk? Are you taking too much? The investment industry loves to use risk to push you toward certain “low-risk” or “high payout” products. Today, Paul shares about the investors who stocked up on 30-year bonds because they had a long track record of being “safe,” only to be slapped by unexpected rising interest rates. Listen along as Paul teaches what you need to know about risk and investing and why staying uneducated is a risk you shouldn’t be okay with. 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

Endless Information Feeds Worry and Dissatisfaction

The internet can feed you endless information to confirm whatever thoughts and insecurities you bring to it. If you're worried about your financial well-being, there are endless tips and tricks to help you improve. If you're worried about the state of the world, there are 24-hour news cycles confirming your fears. All this information makes it almost impossible to relax and think clearly. Today, Paul encourages investors that there is a way to find peace and relax about money in today's chaos, but it may involve being less hungry for information and just unplugging this endless source of information. Later in the episode, Paul brings a study that shows what cognitive dissonance is and why no one is immune to it.

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

It’s Time to Change How We Think About Digital Media

We have to change the way we think about digital media to get healthier and see the world for what it is. Paul brings up a book called *Our Digital Soul: Collective Anxiety, Media Trauma and A Path Toward Recovery* by Jennie Black and Bob Hutchins that impacts digital media on our minds and bodies. Paul shares that when you mix capitalism and journalism the result is a country that shares more negative news stories than most other countries in the world. Later in the show, Paul talks about how robotic portfolios have been trained to stock pick and market time and leave investors in the dark about what’s going on.

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

ANOTHER Sales Tactic: Your Portfolio Is Outdated

Paul gets an email from an investment firm titled “Make Sure Your Investment Portfolio Isn’t Collecting Dust.” Paul talks about the difference between selling and buying as a means to rebalance your portfolio and market timing, which is what this email is recommending. Paul’s advice: Don’t be afraid of a little dust on your portfolio because buying and selling investments to keep your portfolio “fresh” is a strategy that works for investment firms, but doesn’t work for you. Later in the episode, Paul explains what full insurance coverage really looks like and how insurance works to protect your savings in a similar way that a moat protects a castle.

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

Starting Retirement When You’re Self-Employed

Paul shares a conversation with an entrepreneur who wanted to get their retirement started. Listen along as Paul shares the most common retirement options for people who are self-employed, as well as options for the entrepreneur who has just a few employees. Paul breaks down specific tax benefits, contribution limits, and regulations of these retirement accounts and encourages people who are self-employed to start investing. Later in the show, Paul talks about funds marketed as "Total Market" funds that unsurprisingly ignore entire sections of the market.

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

Know Your Bias: Understanding Hindsight Bias

Part of being a confident investor is knowing your own biases and how they affect your outlook on the word. Today, Paul opens up with a conversation about geo-political tensions to talk about “hindsight bias,” a phenomenon where—after the event happens—your brain convinces you that you it was going to happen all along. Paul explains it’s better to be patient and trust the process and instead of letting hindsight bias lead you into market timing. Later in the episode, Paul shares the most recent PWI newsletter that addresses some of the most pressing questions from investors and investor anxiety.

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

Insurance that Can Help You Weather Life’s Most Difficult Circumstances

Paul and Ira share the sobering reality of what happens when people get caught without disability and life insurance. These stories usually have a common thread: “I didn’t think it would happen to me.” Paul levels with investors and encourages them to take a look at these products and build a financial plan that can weather life's most difficult circumstances. 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

Negative News Is a Sales Tactic

Negative financial news coverage has a specific job: it garners attention, informs people of problems, and sells solutions. Paul shares a video that really hits the nail on the head about how negative information affects your brain and how the news outlets wield that against you. Later in the episode, Paul and Ira unpack the drama around the US dollar right now and share how investors aren’t being given an objective view of the situation. 

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

What You Can Learn From Warren Buffett’s Historic Career

Everyone thinks of Warren Buffett as a legendary stock picker, but he doesn’t see himself that way. Paul brings to the show an interview where Buffett shares what he believes the secret to investing success is. Listen along to hear Buffett share his perspective on financial news and why he doesn’t pretend to know what will happen to companies in the coming weeks, let alone twenty years from now. Later in the episode, Paul shares Warren Buffett’s opinions on Bitcoin.

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.

It’s Easy to Get Sold On a Bad Life Insurance Policy

Ira and Paul talk about how easy it is to get sold on a bad insurance policy that gives owners unrealistic expectations about what the policy is going to pay out. Ira shares about a life insurance policy that he bought when he was younger, that turned out to be better for the person who sold it than it is for him. Listen along as these advisors help you navigate the kinds of insurance products you should stay away from and help you learn from their mistakes. 

 

Get a copy of our new book, Confident Financial Planning, at paulwinkler.com/book.