Payne Points of Wealth Podcast

The Urgency Of Financial Planning, Ep#29

By March 17, 2021No Comments

It’s episode 29 of Payne Points of Wealth — tech is starting to dive and old-school stocks are starting to win. In the last week, we’ve seen the NASDAQ have a 10% correction while the Dow Jones Industrial Average— the old school index— hit an all-time record high. The economy’s reopening, old school -vs- new school, is this trend going to continue? We are also going to talk about what catalysts in your financial life are going to get you going to make sure that you’re getting all your ducks in a row when it comes to all the financial things. It’s a great episode so go check it out!

You will want to hear this episode if you are interested in…

  • Come take a ride in Bob’s way back machine [2:51]
  • Seeing risk in hindsight [6:19]
  • The real opportunity is EVERYWHERE ELSE [8:44]
  • The Tipping Point [10:21]
  • The North Star of financial planning [12:45]
  • Financial stress test [14:29]
  • Hidden Facts of Finance [18:12]

Valuations don’t matter… until they do!

Amazon, Google, Apple they’re all just making money hand over fist. They’re the stocks of the future. Or are they the stocks of last year? Either way, we’re still going to order things off of Amazon. We’re still going to be buying our Apple phones, our Apple watches, and our Apple brains. So how can these massive, big tech companies that are the crème de la crème in the US all of a sudden not be hot anymore? It makes no sense. Or does it?

But valuations don’t matter until they do.

You’re investing in great companies, but is it also a great stock?

This week on the tipping point: URGENCY in financial planning

Most of us, if we’re honest with ourselves, find it very easy to procrastinate when it comes to our financial planning issues. We at Payne Capital Management know this better than anybody! Dealing with people and their finances is a very tricky thing. So in this episode, we will discuss some scenarios that might light a fire under your sense of urgency.

A lot of people think, “my goal is to make as much money as I can” but making money is NOT a goal. Why do you need to make money? What’s the purpose of money? Understand what you’re trying to accomplish and have your end game in mind. Do you want to have a lifetime of income that you cannot outlive? Do you want to have a big ol’ pile of go-to-hell money so that you don’t have to work for the rest of your life? Are you taking more risks than necessary to achieve those goals? Are you taking enough? Check out the episode and we will help answer some of these questions!

This week’s hidden facts of finance

Despite the pandemic, the total number of billionaires around the world rose by 412 to a record of 3,228 billionaires. Overall, China added 259 billionaires to this list, more than the rest of the world combined. The richest 100,000 American families hold about 16 trillion. That’s trillion with a ‘T’ in net assets. Rather than be jealous of these billionaires just celebrate your own success. The US household wealth is at an all-time record high! That means every one of you right now is worth more than you have ever been worth in your life.

Resources & People Mentioned

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