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10 Financial Beliefs Debunked

RL183 – 10 Financial Beliefs Debunked

In this episode of the Retirement Lifestyle Show, Roshan Loungani and Adrian Nicholson debunk 10 conventional beliefs about investing. They cover the best time to take Social Security, paying off debt versus investing, what to do when the market is down, and much more.

[00:00] Introduction

[01:05] Diversify Your Investments

[04:20] Understanding Portfolio Diversification

[06:09] Wait to Take Social Security

[09:37] When the Market is Down, Do Nothing

[13:48] You Need a Budget to Determine Your Cash Flow

[16:00] You Will Spend Less In Retirement

[18:54] Money Will Undermine Your Child’s Work Ethic

[21:30] What to Do When Volatility Strikes

[23:27] Pay Off Debt Before Saving and Investing

[27:37] You Should Always Have a Mortgage

[30:24] Practice Doesn’t Always Make Perfect

[31:40] Parting Thoughts

For more links and the full show notes keep scrolling down!

Roshan Loungani can be reached at or at 202-536-4468.

Erik Olson can be reached at or 815-940-4652.

Adrian Nicholson can be reached at or at 703-915-8905.

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Full Show Notes:

The Ten Conventional Beliefs About Investing

  1. Diversify Your Investments: Spread your investments across various asset classes like stocks, bonds, and real estate to reduce risk. Effective portfolio diversification involves balancing risk and return by allocating investments in different assets and sectors.

  2. Wait to Take Social Security: Delaying your Social Security benefits can lead to higher monthly payments in retirement.

  3. When the Market is Down, Do Nothing: Avoid making impulsive investment decisions during market downturns; instead, stick to your long-term strategy.

  4. You Need a Budget to Determine Your Cash Flow: Sometimes, creating and sticking to a budget is crucial for effectively managing your income and expenses.

  5. You Will Spend Less In Retirement: It’s common for retirees to spend more in retirement than in their working years, so plan your retirement income accordingly.

  6. Money Will Undermine Your Child’s Work Ethic: Overindulging children financially can sometimes discourage them from developing a strong work ethic.

  7. What to Do When Volatility Strikes: During market volatility, stay calm, assess your portfolio, and consider rebalancing if necessary.

  8. Pay Off Debt Before Saving and Investing: This fully depends on your financial situation. However, prioritizing paying off high-interest debt before focusing on saving and investing can be a good thing - as long as you don’t miss out on opportunities you might regret in the future.

  9. You Should Always Have a Mortgage: Owning a home outright can provide financial security, but carrying a mortgage isn't always a bad financial choice, depending on your circumstances.

  10. Practice Doesn’t Always Make Perfect: Repeatedly practicing a flawed investment strategy may not necessarily lead to improved results; it's crucial to reevaluate and adjust one's approach for success in the financial markets. Mastery in investing requires more than just persistence; it demands a willingness to adapt and learn from mistakes.

All opinions expressed by podcast hosts and guests are solely their own. While based on information that they believe is reliable, neither Arete Wealth nor its affiliates warrant its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only, and should not be regarded as specific advice or recommendations for any individual. Before making any decisions, consult a professional.

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