Episode #6: Unhealthy Financial Foods

Today’s Prep:

Even if you’re not a health nut, you probably know the dangers of empty calories. Learn the parallels between unhealthy foods and your portfolio.

(Click the featured times below to jump forward in the episode)

Equipping Points:

[00:59] – We All Have Our Dietary Weaknesses.

  • None of us are strong enough to completely resist chips, sodas, and sweets. Of course, in moderation, those foods are a fun addition to your routine. However, excessive consumptions of unhealthy foods can ruin your health.

[1:20] – Bad Financial Foods.  

  • Much like unhealthy eating, bad financial products can harm your portfolio. Consider the fluff you’ll find in a prospectus or bad financial plan. That boiler plate information is similar to empty calories. Sure, it sounds good, but what is any of it really doing for your portfolio?

[3:17] – Added Sugars And Hidden Fees. 

  • There are so many added sugars in the foods we’re eating today. Sometimes, we don’t even realize the processed foods we’re eating contain sugar. In the financial realm, hidden fees in your portfolio are like added sugars. Sometimes, you have to take a closer look to see the fees associated with your investments.

[6:04] – Trans Fats: Horrible Yet Delicious.  

  • Trans fats are delicious, and they’re often hard to resist. After all, who doesn’t love a fresh doughnut. However, they’re absolutely horrible for you, and you should typically stay away. Trans fats are symbolic of the temptation to take on lots of risk in a bull market. Risky investments can lend themselves to big payouts when the market is performing well. They can also ruin your portfolio during a market correction.

Today’s Takeaway:

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The host: David Dickens

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