The Worst Investment Mistakes
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- Опубліковано 11 лип 2024
- 👉 Learn more about indexed annuities with Revise: www.getrevise.com
Let’s explore the WORST errors that even the most seasoned investors can fall victim to. We delve into a range of damaging financial blunders such as misunderstanding the basics of investing, sinking money into a friend's business, or getting swept up in the trend of the moment.
We discuss the importance of understanding your own financial capacity and the detrimental effect of investing without a well-researched, long-term strategy. Furthermore, we shed light on beneficial investment avenues, such as auto investing in index funds and the potential of equity-indexed annuities. This comprehensive guide is aimed at making sure your investments work for you and safeguarding a comfortable future, even when you retire or decide to stop working.
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Chapters:
00:00:00 - The Purpose of Investing
00:01:22 - Living Below the Comfort Level in Retirement
00:02:32 - The #1 Worst Investment Mistake: Ignoring Relativity
00:03:38 - Stick to a Percentage: A Solution to Retirement Planning
00:04:46 - Auto Investing and Annuities
00:05:56 - Investing with friends will ruin friendships
00:07:01 - Investing with Johnny
00:08:08 - The Dangers of Herd Trades and Outsider Investing
00:09:15 - Finding Your Own Tulip Run
00:10:27 - More to Learn on Nicholas Crown.com
I’m a Junior in College and I major in Finance with a minor in Economics and I really appreciate the cold cut advice. You’re genuine about your recommendations and don’t try to confuse or mislead people. Love your content and hope you keep it up!
Not a bad video. Not an annuity fan, but definetly appreciate how they are wise for a very big group of people.
Also one big thing missed in this video in my opinion.. not sorting out your financial house before investing. No point to investing if you do not have an emergency fund or if you are paying 19% interest etc.
But yeah get rich the boring way is solid advice.
Great advice! You always have the best!
You provide the most honest investment advice I've ever come across! Absolutely LOVE your videos :)
Thank you for bringing excellent content into the world, and for helping people become aware that FOMO investments are unnecessary. There are many ships that have crashed on that rocky shore.
great content my man, keep it up !
Great Video. Thank you.
Is an annuity really that good? I’ve never been recommended it. Always invest in the stock market, 401k, Roth IRA, HSA but never an annuity.
Fixed annuities compound tax deferred (from post-tax dollars unlike a 401k), entirely remove investment risk, and payout until you die (literally), a completely different animal than self-selected investment regime.
Annuities can provide decent diversification when combined with the tax-deferred retirement accounts you already mentioned, but I feel like it's disingenuous to claim annuities should be the primary investment/retirement vehicle. Be wary of anyone who recommends something as strongly as in this video, for example.
You'll never find a financial advisor who actually owns an annuity
No, annuities are not good at all. Anyone recommending them either doesn’t know what they’re talking about or is somehow benefiting from recommending them to you.
Annuities are not a good investment and it makes me obviously not trust this content creator’s advice
Enlightening
Thank you, yeah I avoided giving money to my friend for his business which is now defunct. And just put money aside in my 401k and IRA and invest in ETFs and mutual funds , after a few years it’s impressive to see how my little nest egg has grown
what would you recommend to someone who is lets say40ish years old and basically has about 20 -25 years to invest? would an annuity make sense at this point or maybe something more aggressive? thanks for the videos, very easy to watch and informative!
I get a VA check and own my business. Is it better to continue using the extra for Treasury bonds or go the stocks? For the future
Blackjack is a good investment, got it. THANKS CROWN 🙌👍
I love indexed accounts, im a life insurance agent but i market to children and always set them up with maxed cash value IUL's
Hey Nick,
I'd be curious to get your thoughts on MAIN (Main Street Capital Corp)
From my research it seems to be a good stock, but I'm curious to hear your "professional" opinion.
I really want to hear his opinion of the relationship between TraxNYC and Prime Hydration after this debacle.
Thank you, Nick! What is a good annuity return? Is 3% good enough?
Thats probably a fixed annuity, try an INDEXED annuity. A 3 percent is secure but because its secure the return is low, a variable is super risky but it has a higher return. The middle ground is what Mr. Crown recommends is dead middle, an Indexed annuity has the indexed part for risk, and a cap and floor for security.
I am 46 years from Bangalore. Right now I am seriously considering retiring in next 2-4 years (both my kids will be in college in next 2 years). As on today I am able to cover all my expenses by the returns on my investment. Out of my total investments, I have ~30% in MFs/Stock market, ~20% in Real Estate (Apartments), 10% in Gold, 30% in FDs/Bonds and 10% in Cash/Cash equivalent (yet to be invested)... I have stopped paying for Life Insurance but have comprehensive health insurance coverage. I may have to dip into my investments in next 5-10 years for my Kids college education completion and want to continue working while checking that all my expenses are covered for next 2-3 years with my current savings only. That will be my trigger for retirement. Any suggestions from the friends out there, to help me plan my retirement better..
Retirement does not mean that you hang up your boots and do nothing. In the modern day retirement means getting rid of the regular grind and doing what you are passionate about and having more time for yourself. What you do with that time is your call, you can write a book, build a small business become an educator. Today retirement does not mean stopping all work. Many people who are retiring early are just using their time now to lead a slow life, follow a passion and most importantly become owners of their time.
@@AndersonMarcus-pl9rv Thanks for clearing up the retirement state. There is an important step before that state which is financial independence. That should be a goal for everyone. After that work is optional which can be called retirement.
The right time to retire is when you no longer wish to work for a living AND you ARE POSITIVE that you can afford it.
But remember, if you leave your job without sufficient resources, you are not retired, you are unemployed.
I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
@@AnthonyWells-dq3ro For a successful long-term strategy, I recommend you seek the guidance of a financial advisor, Who will advise you how to buy stocks with market-beating yields and shares that at least keep pace with the market for a long term.
That’s interesting I’ve been investing through putting my money in a high yield savings account though it’s a steady creep monthly it’s more than what a bank would give me .01 cent
Trading != Investing
Annuities: Should have mentioned that the downside protection costs you money. So with annuities you have less risk of having very little money but increase the risk of not enough having plenty in your retirement
Nick I’m a huge fan and I wish you’d explained more about how taking the risk out of “investing” via annuity. Common knowledge says that you don’t get as much return on your capital via annuity. I would have loved to see you take on the “common knowledge” or explain why it is not a significant effect.
Next week I have a full annuity video coming out to dive deeper
Thanks,@@NicholasCrownUA-cam --I was just going to ask the same thing. I'm looking forward to that video. Thanks so much for all of the valuable information and your delivery style is the BEST!
What about stocks that pay monthly dividends - how does it work and if it’s worth it
Dividends are NOT extra income...look it Up please!!
....dammit Jonny!
The best strategy is always an extreme barbell strategy. 90% of equity in non risk (cash or treasuries) and 10% in extreme risk ventures where you can control the outcome (entrepreneurship). Once the 10% of capital is deployed in a Corp and there is proof of concept, use as much leverage as possible using only the original 10% in the corp as collateral.
This strategy:
- Minimizes downside risk to -10% of original portfolio
- Does not limit upside
- Places outcomes in your own hands
Finding what venture to deploy the 10% risk capital is the difficult part.
I feel like a lot of people don't take into account becoming disabled. It's the only minority anyone can join at any time from any background - and it's expensive. "I don't want to retire"....yeah we'll sometimes you don't have that choice
Why do you advise investing such a small amount of your income? Most financial advisors ive talked to recommend investing around 20% of your gross income.
Can you afford to invest 20%
Taxes take 50%
Housing 25%
Add 20% to investing and you’re left with 5% of your income for food, transportation, clothing, etc.
@madtabby66 I've been investing 20% for years because I have no debt
Because the point of the video is to avoid mistakes and do the minimal effort into investing safely. In this case “something is better than nothing” applies. Of course the money that you don’t plan on spending, some should be kept for immediate access (for emergencies) and the rest should be processed for investing. If that’s 5% or 40% of your income, it’s up to you and your expenses.
NO Annuities PLEASE!!!😢
????
Is this video made with AI? 😅
Does your brain have trouble working?
The worst investment a man in the U.S. could ever make is to get married.
Dude im so lost idk what to do with my life. I just think youtube is a curse for the poor
Mr. Crown, I would like to dispute your first point. You said in order to make $1,000, you need to have $20,000 invested. I had $1,000 in my portfolio, and bought into the 52 week lows and made $500 in 3 days. That means you don’t need the $20,000. Obviously 52 week lows are more risky, but scared money doesn’t make money.
$500 in 3 days???.. not true!! 😂😂😂
What if you keep reading about the thing every day? I have been reading about crypto for four years. I invested and won some and lost more than I won, but I am still learning every day and I am sure there will be light in the end of the tunnel