This is the Lightning Round, a weekly segment of the show where we answer questions from texts, meetings with people wanting to reach their dreams and listeners who have called or emailed into the show.
Ben asks about how you can advice people to stay in the market when experts anticipate it going to crash?
Listen in at 1:42 to hear the answer directly from the show.
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Ben, let's be honest. We're riding the second longest up market in history... it's a matter of time before a crash.
You clearly agree that a crash is coming, so it's not that fact of "if" it's a matter of "when." And now you're ahead. So...
Why not pull out while you are on top before a crash hits?
It's A Big mistake to pull out before a drop.
Good investing isn't about picking the right things.
Good investing isn't about market timing.
Good investing is about being patient.
There are only a couple of days that really matter in good investing. Will you be there for them?
The majority of the growth in the market is in a very few specific days and there is no way to time it or predict them. Instead of trying to guess and time it perfectly. It's far better to have a plan you can be confident in and stick to it so you can be there for the insane amount of growth.
If you have a strong plan, you'll have amazing returns in 5, 10, 20 years. That's how it works.
You can't take too much risk in hopes of timing a jump rope game with the market better than every expert in the country.
It's time to Re-Think Your Plan for Success
Thinking about pulling out now, lends yourself to have a strategy to be really aggressive when the market is down and forces you to often take too much risk.
If you stick to a strategy over time rather than react to the market, you'll see amazing growth.
Where it's a tempting thought, the far better strategy is a plan you can stick with. I promise.
Good question. Thanks Ben.