Preview Mode Links will not work in preview mode

This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

  1. All Episodes
  2. EP181 Milli Moves: How to Avoid FOMO When Investing

EP181 Milli Moves: How to Avoid FOMO When Investing

Feb 16, 2021

One of the questions I get asked the most is how to invest or get involved in investing. The reason is that investing gets all the hype in the market, online, and in the news. It's often talked about in an exciting way, dominating headlines and luring investors in for fear of missing out (also known as FOMO). The last few weeks have been no exception with the frenzied trading of GameStop, AMC, and Blackberry. So in this episode, I want to explain how to avoid the fear of missing out when investing.

Listen in as I explain some things to be mindful of if you plan on getting involved in the investment industry and how to find an investment accountability buddy. You will learn how to develop an investment strategy, why it’s important to start investing early, and the importance of getting back to basics by setting goals.

“From an economic/financial perspective, FOMO is a psychological phenomenon associated with loss aversion, particularly in terms of financial decision making.” - Tracey Bissett

This Week on Young Money:

  • Why investing gets so much hype.
  • What happened with GameStop.
  • Why there has been an increase in day trading.
  • How to avoid FOMO in investing.

Key takeaways:

  1. Get back to basics by setting goals.
  2. Develop an investment strategy.
  3. Use caution with "hot tips" and validate the source of the information.
  4. Start investing early.
  5. Mind your own business.
  6. Find an investment accountability buddy.

Resources Mentioned:

 

Young Money Listener Contest!

February is a month-long celebration of love. So, if you love the Young Money podcast, show us by leaving a review on apple podcasts. Share your review with us on social media and tag us or send a pic through in the DMs.

For every review left for the Young Money podcast, you will be entered into a draw to win a fabulous prize to help you on your financial fitness journey. There will be multiple winners so review away!

Contest closes February 28th!

Not sure how to leave a review, check out the instructions here.

Socials: Instagram (@bissetfinfit), Twitter (@bissetfinfit), Facebook (@bissetfinfit) or Linked In (Tracey Bissett)

Rate, Share & Inspire Other Young Millionaires-in-the-Making 

Thanks for tuning into the Young Money Podcast - the advice show for young millionaires-in-the-making! If you enjoyed this week’s episode, head over to Apple Podcasts and leave us a rating and review. Visit our website to learn how easy it is to leave a review on Apple Podcasts.

Don’t forget to share your favorite episodes on social media! 

Subscribe to the Young Money Podcast on iTunes so you never miss an episode and reach out to us on Facebook, Twitter, LinkedIn, our LinkedIn Company Page, or by visiting our website.