0:04

Hello, I'm

0:04

your host, Mr. Chuck, I retired

0:07

accountant turned truck driver,

0:07

I reduce my debt in a relatively

0:12

short period of time, debt

0:12

reduction to achieve financial

0:17

freedom takes commitment,

0:17

confidence, determination.

0:24

Investing, when to start with

0:24

that have a debt problem and

0:30

wondering if investing should be

0:30

started and investing with debt?

0:34

Is this a smart idea? Or should

0:34

the debt be paid off? First?

0:40

This is the question most people

0:40

wonder about all the time. This

0:44

is not using debt to make

0:44

investments. But if a person

0:48

should invest with a debt

0:48

problem, again, I'm not talking

0:53

about making investments by

0:53

borrowing money to do so. You

0:58

should never do that, in my

0:58

opinion. And this is not about

1:04

doing that. This episode I'm

1:04

talking about if you have a debt

1:10

problem, or had a debt problem,

1:10

your men working to pay off your

1:15

debt? Should you start

1:15

investing? If you haven't been

1:21

investing, when should you

1:21

start? Or if you have invested?

1:27

Can you should you continued

1:27

investing, as you're trying to

1:32

get out your debt problem? That

1:32

is the question I'm trying to

1:36

tackle in this episode. I know

1:36

there's other financial advisors

1:42

out there that will tell you to

1:42

quit investing altogether, and

1:48

get your debt paid off as soon

1:48

as possible. Yes, that's a good

1:52

idea. But I'm gonna say that's

1:52

not maybe a good idea for

1:56

everybody, we need to consider

1:56

everybody's situation, and

2:01

everybody is in a different

2:01

boat, per se. Let's say you have

2:05

a bunch of credit card debt

2:05

that's at 17 plus percent

2:09

interest, you have a couple of

2:09

loan car loans that are eight to

2:13

12% interest, and you have a

2:13

mortgage, that's at three to 6%

2:18

interest. I'm just giving you

2:18

some ranges there because

2:21

everybody's different. And

2:21

you're struggling payday to

2:24

payday to meet your obligations.

2:24

And you've been trying to pay

2:29

off your debt for a while and

2:29

you hadn't succeeded. If you've

2:32

started learning on what to do,

2:32

and fun following my debt

2:37

reduction plan, even if this is

2:37

your first week, you should be

2:41

doing all those things before

2:41

you consider making any

2:46

investments. With there's some

2:46

exceptions to that. So you need

2:51

to be paying the minimum payment

2:51

on all your debt, you need to be

2:56

putting away money in your

2:56

emergency savings, and have that

3:00

minimum of $1,000 plus the need

3:00

to capture any matching employer

3:09

retirement savings. If you

3:09

haven't done that, if you have a

3:13

401 K through work, and you

3:13

hadn't start that even with a

3:18

debt problem, you do that right

3:18

away, what are you waiting for,

3:22

that is money that your employer

3:22

is giving you. And it's kind of

3:28

free money because if they're

3:28

making a match, you should be

3:31

making a contribution equal to

3:31

what that match would be. If

3:36

they're matching 3%, you should

3:36

be putting in 3% start that way,

3:41

right away, go ahead and

3:41

tomorrow, the next day today,

3:45

get that set up and get that

3:45

started. And then paying down

3:50

and paying off your high

3:50

interest, credit, the things you

3:54

need to be doing and which if

3:54

you've been following my debt

3:58

reduction plan, all my

3:58

guidelines that tracking the

4:03

budgeting, the your control

4:03

center, making the minimum

4:07

payments, set money aside in

4:07

your emergency fund, you know,

4:12

doing a 401 K if you haven't,

4:12

you got to start that right

4:16

away. I don't care if you got

4:16

five credit cards all maxed out

4:21

and you know $100,000 Because if

4:21

your employer is matching,

4:26

that's money that you don't have

4:26

to put in there, that they're

4:30

gonna double your whatever

4:30

you're putting in. And the

4:34

sooner you start and the longer

4:34

you do it, the more you're going

4:38

to have for retirement as a

4:38

simple fact. And then you're

4:43

working on paying off all your

4:43

credit card debt. That is the

4:47

bare minimum you should be doing

4:47

no matter what. No matter how

4:53

much debt you have, know how

4:53

much you seem to be struggling.

4:57

He should be doing those things.

4:57

Let's assume you're self

5:02

employed and you don't have an

5:02

employer match. Okay? Well, in

5:06

that case, unless you have some

5:06

retirement plan set up, or

5:11

you're doing something through

5:11

your work, if you're struggling

5:15

with a lot of debt, and you have

5:15

a problem, and your business is

5:20

not doing that good, well,

5:20

that's something you shouldn't

5:23

even be looking at. And if

5:23

you're already started, maybe

5:26

just make the minimum you have

5:26

to make and talk to your tax

5:30

advisor, whoever helped you set

5:30

that up. But other than that,

5:33

you should be everybody should

5:33

be doing the same thing, whether

5:37

you're work for the government,

5:37

whether you're work for a

5:39

private employer, whether you're

5:39

self employed, he should be

5:43

doing whatever you can to make

5:43

whatever contributions to your

5:50

retirement plan that you have

5:50

through work, whether it's your

5:55

own work your your employers, or

5:55

your government, whatever that

5:58

is, you shouldn't be doing that.

5:58

From day one, as soon as you're

6:03

eligible to do so, make the

6:03

minimum payment on all your

6:07

debt, because that frees up

6:07

money to help build up your

6:11

emergency fund. But let's look

6:11

at other people. Other scenarios

6:16

to say, if you're young in your

6:16

30s, and you have a lot of debt,

6:21

there's probably a reason that

6:21

happened, maybe you bought a

6:24

home, you did some remodeling,

6:24

you need a furniture, okay, I

6:28

understand, you know, you

6:28

borrowed money and you borrow

6:31

this loan and that loan, and all

6:31

sudden you're out of control.

6:35

And maybe you your mortgage is

6:35

40% of your gross income. So you

6:41

kind of overbought the home, you

6:41

need to get rid of some of those

6:47

loans, somehow, whether you sell

6:47

a car, pay it off, if you're

6:52

able to do that, buy a car where

6:52

you don't have to borrow money,

6:57

maybe pay off some of those

6:57

smaller loans for maybe some

7:01

furniture loans or student loans

7:01

kind of work on those,

7:06

everybody's different. When

7:06

you're younger, you should be

7:10

putting something in a

7:10

retirement plan, whether it's on

7:13

your own or through work, no

7:13

matter how big of a debt problem

7:17

you have. So that is the very

7:17

basis for everybody. Because the

7:22

sooner you start, the longer you

7:22

put in, the more you're gonna

7:27

have. And it takes a lot less

7:27

money. If you put money in over

7:31

40 years, versus putting money

7:31

in over 10 years, it's gonna

7:37

take a lot less money out of

7:37

your budget to do that, you can

7:41

go in review and look at what

7:41

other people say about that. But

7:45

it's a fact. And then you need

7:45

to make that part of your

7:51

budget, and then work on paying

7:51

off your debt, you got to work

7:55

on paying off your highest

7:55

credit card debt first, and pay

7:59

it down. So as your credit card

7:59

debt is getting paid off as your

8:03

loan as whatever debt you have,

8:03

as key creasing, the amount

8:08

you're building up in your

8:08

emergency fund should be

8:11

increasing. So over time, by the

8:11

time your debts paid off, you

8:17

have two months or three months

8:17

worth of expenses, and your

8:22

emergency fund. Now if you're

8:22

saving, so I always say put it

8:27

in the same bank where you have

8:27

your checking account. So you

8:30

can take the money and transfer

8:30

it real easy. There's got to

8:34

become a point, as you're paying

8:34

off debt has gotten, you're

8:37

going to build it up to three or

8:37

4000, you're going to take a

8:40

chunk out, you're going to apply

8:40

it to that, you're going to

8:42

build it back up, you're going

8:42

to take a chunk out, maybe

8:45

instead of leaving 1000 in

8:45

there, you leave 1100 And you

8:49

pay ply it towards some debt,

8:49

you build it up again, now you

8:53

leave 1200. So over time, that's

8:53

gonna gradually increase and if

8:59

you leave $100 in there, every

8:59

time you take money out, to

9:03

apply it to debt, your emergency

9:03

fund is gonna get bigger and

9:07

bigger and bigger. Once that it

9:07

becomes a minimum of $5,000 You

9:12

need to look at other places to

9:12

put that money to earn more

9:16

interest, your local bank or

9:16

theory have your checking

9:19

account, they're not paying

9:19

nothing. And they're probably

9:22

not going to be paying anything

9:22

in the near future. Because they

9:25

got so much cash that the

9:25

government forced on them. And

9:29

all this money bailout stuff

9:29

that they don't need cash or

9:32

they're not paying interest. But

9:32

there's other banks out there

9:36

that will pay you. There's money

9:36

market funds that's gonna pay

9:39

you I'm getting roughly five and

9:39

a half percent, and five and a

9:43

half percent is a lot better

9:43

than a quarter of 1%. So once

9:46

your emergency fund gets up to a

9:46

amount that you decide on, let's

9:53

say it's $5,000. Remember, we're

9:53

going to still leave 1000 in

9:57

there. So we're going to take

9:57

that $4,000 Dollar, that you

10:01

were making a part of our

10:01

minimum, and we're gonna find a

10:05

home for it, that's gonna pay a

10:05

higher rate of interest. And the

10:10

first place to look is for high

10:10

yield savings, and are generally

10:14

going to be on some type of

10:14

online bank or a money market,

10:18

which is still going to be

10:18

online bank, I've been using

10:21

them for a few years, now I make

10:21

great amount of interest, I got

10:26

a chunk of money poured away, I

10:26

can transfer money, and it's

10:30

like almost instant, maybe a day

10:30

or something overnight. If I do

10:34

it in the afternoon, the next

10:34

day, it's in my checking

10:37

account. And there's nothing to

10:37

worry about at this time. I'm

10:41

not sure there is some risk, but

10:41

there's all of them are FDIC

10:46

insured. So if they go belly up,

10:46

at least 250,000 is covered. And

10:52

he shouldn't have that much in

10:52

there anyway. So that's your

10:55

first step. Now, you're still

10:55

making contributions to your

10:59

retirement through work, or your

10:59

retirement through your self

11:03

employment, or whatever the case

11:03

is, that still there, we're just

11:07

taking this money that we're

11:07

going to use as an emergency

11:10

fund. And we're going to try to

11:10

make it grow work for us a

11:14

little bit more. So that's what

11:14

you do. And then as you build it

11:19

back up again, and you're still

11:19

paying off debt, and then you

11:23

you know, you do the $100 thing,

11:23

or $200 thing, because your debt

11:27

is getting less and less and

11:27

less. So you're building up

11:31

faster over time, as your debt

11:31

comes down, your savings

11:36

accounts gonna build up faster

11:36

over time. And once you get an

11:40

extra 2000 in there, not extra

11:40

but a 2000. Minimum, take 1000

11:45

and put it in that money market

11:45

keep building that up, so you

11:48

get more interest. So that's one

11:48

of the first or second step of

11:53

what investing you should be

11:53

doing as your debt is coming

11:57

down. Now once we get all their

11:57

credit cards, personal loans,

12:02

student loans, anything with a,

12:02

a interest rate above 6%, I have

12:09

a link in my show note to

12:09

fidelity. And when to consider

12:13

their guideline, there's a rule

12:13

of six percents easy to remember

12:18

that if you have any debt with

12:18

6% or greater, you should be

12:22

paying that off before you make

12:22

investments. Now, if you read

12:27

their article, it depends on how

12:27

you invest, the younger your

12:31

are, the more aggressive your

12:31

investments should be. So then

12:35

that 6% might become a percent

12:35

depending on the type of

12:39

investment, you're doing

12:39

anything with a percent. But

12:42

definitely, if you got credit

12:42

card debt, personal loan debt is

12:45

definitely on be a high enough

12:45

rate of interest, he should work

12:49

on getting rid of it. So use

12:49

this article by fidelity, to get

12:54

an idea of a guideline of what

12:54

you should be doing. It's gonna

12:59

be different for everybody. If

12:59

you're older 50 Plus, and you're

13:07

1015 years out from retirement,

13:07

they need to be making those

13:11

tournament contributions, if he

13:11

hadn't started, you're really

13:14

behind the eight ball. And you

13:14

should be getting that going on

13:18

your own through an IRA or

13:18

through your work, whatever the

13:22

case would be. I'm sure you have

13:22

reasons why you didn't do it.

13:26

But the sooner you start, the

13:26

better off you're gonna be. And

13:30

if you're 50 Plus and hadn't

13:30

started your indefinitely retire

13:35

was a lot less money than were

13:35

you gonna need. Unless you're

13:39

planning on dying the day after

13:39

you retire, you're probably not

13:44

gonna have enough money to last

13:44

year, you're living lifetime,

13:48

unless you make a lot from

13:48

Social Security or from whatever

13:52

other pension you may have. I

13:52

have a government pension and

13:55

Social Security. But I work much

13:55

longer than my full retirement

14:00

year. In order to get that

14:00

everybody's different. Every

14:04

situation is different. Now, the

14:04

younger you are on none, and you

14:09

got a college education, I'm

14:09

assuming you have a significant

14:13

amount of student loan debt. I

14:13

don't know. We all don't know

14:17

what the government's gonna do.

14:17

If you're not making payments on

14:20

it, you're probably screwed

14:20

yourself. Because one of the key

14:25

things through the government

14:25

that would help you pay off your

14:28

student loan debt, or to get

14:28

government assistance or

14:31

whatever you want to call it is

14:31

gotta be making monthly timely

14:37

payments. And if you don't do

14:37

that, you're getting ripped and

14:41

you're paying, they're gonna

14:41

charge you a lot more interest.

14:44

This make the minimum payment on

14:44

all your student loan debt and

14:48

look, wait to see what happened.

14:48

Get your credit card debt pay

14:52

down, get your car loans paid

14:52

out. And now if you only have a

14:56

home or whatever, or if that

14:56

student loan debt It is keeping

15:00

you from buying a home, he got

15:00

to work on paying it down. Don't

15:04

wait for the government to say

15:04

they're gonna apply it and

15:07

forgive it or whatever the case,

15:07

because that may never happen in

15:12

your lifetime. So work towards

15:12

getting rid of it. Whether

15:17

you're making the minimum payments or whatever you're doing, or towards getting rid of

15:19

your student loan debt, that's

15:23

my personal opinion, you know, they say they're gonna

15:25

forgive it. But has it happened

15:28

yet? No. Is it going to happen?

15:28

Maybe, I don't know, doesn't

15:33

seem very likely at this time.

15:33

In fact, nobody's even talking

15:37

about it. So the older you are,

15:37

you need to start investing more

15:41

new retirement and you have to

15:41

do a larger amount. So it's more

15:45

important that you get your debt

15:45

under control a little bit

15:48

quicker, but you need to do

15:48

something as far as retirement

15:53

investing is concerned. And he

15:53

should have started years ago,

15:57

been consistent over time. Now,

15:57

let's say that you had credit

16:02

card debt, you got your student

16:02

loans paid off, you got your

16:05

credit card debt, you got a

16:05

couple auto loans, you got a

16:10

line of credit on your home, you

16:10

got a mortgage on your home. So

16:14

you still have debt, you still

16:14

need to build an emergency fund,

16:19

let's get your emergency fund up

16:19

and invested in either a money

16:23

market, or a high yield savings,

16:23

whichever is paying more

16:26

interest so that you have a

16:26

little bit of money working for

16:30

you. And if something unforeseen

16:30

would happen unplanned for or

16:35

unforeseen. What happened you

16:35

have the money there to take

16:40

care of it, which is helps you

16:40

is number one quit using credit

16:46

as a never ending cycle. Let's

16:46

say you get your emergency fund

16:52

built up to four months of your

16:52

expenses. Now, why so long?

16:57

Well, if you become unemployed,

16:57

you need money to pay your

17:01

expenses. Even if one of you

17:01

become if you're married, have a

17:06

spouse or whatever, have one of

17:06

you coming on employed, you

17:09

still need the money there to

17:09

pay your current bills, the pay

17:14

your current minimum payment on

17:14

all your debt, to pay your rent,

17:19

your utilities, your mortgage,

17:19

whatever the case. So you need

17:23

enough money there. How long do

17:23

you think will take you to find

17:26

another job are you is you're in

17:26

a career where it's easy to go

17:32

from job a to job B and maybe

17:32

take a two weeks vacation in

17:37

between. Or maybe it's due to a

17:37

recession and you got laid off.

17:43

While their session could last

17:43

one or two years, or you're

17:46

willing to work another job or a

17:46

different career or do something

17:50

different to earn money. And how

17:50

long is gonna take you to do

17:54

that might take you six months.

17:54

And I'm not talking about going

17:57

back to college again, a

17:57

different degree, I'm talking

18:00

about doing something to earn

18:00

money until you can get a job

18:06

back in your career career

18:06

field. And that may take you two

18:12

months or three months or

18:12

longer. But if you have money

18:16

there, at least you're not

18:16

living off your credit cards

18:19

from day one. That's the reason

18:19

why you have an emergency fund.

18:24

And or in case something breaks

18:24

or somebody gets injured. Those

18:27

are the reasons and you're

18:27

unable to work. You have some

18:30

money to cover things. Now

18:30

insurance helps in these cases.

18:35

But at some time insurance might

18:35

be three months before you can

18:39

collect on it. They're not in

18:39

any hurry to make a payout. So

18:42

that's for sure. Once you get

18:42

that debt paid down, you down to

18:47

maybe just your mortgage, you

18:47

got your emergency fund up,

18:53

you've been making the maximum

18:53

contribution that's max for your

18:57

retirement plan. Once you got

18:57

all that and you're doing pretty

19:02

good, and you got even more

19:02

money than that. Now you should

19:05

start putting that in the

19:05

market. So once you have nine

19:10

months, take a chunk of money

19:10

invested in the market. At this

19:14

point. If you don't have a

19:14

financial advisor, you probably

19:18

should look into getting one to

19:18

help you figure out where to

19:22

invest in. Do you want to spend

19:22

all the time figuring out what

19:25

stock to buy? Or what type of

19:25

things to buy? Can you buy

19:29

stocks? Do you buy bonds or

19:29

mutual funds and EFT Well, what

19:34

all is all that stuff you don't

19:34

know anything about it, get a

19:37

professional to help you and

19:37

they'll will set you up a plan

19:42

and there'll be a balanced plan.

19:42

You can put money in there on a

19:46

regular basis. they'll invest it

19:46

for you course all for a fee,

19:50

but generally not too bad. And

19:50

you would be on your way to

19:54

having an investment count your

19:54

money working for you. That may

19:59

be taxable, not tax deferred,

19:59

your retirements tax deferred,

20:04

but taxable. And maybe your

20:04

accountant, or your tax

20:10

preparer, hopefully is a

20:10

certified public accountant or

20:14

somebody who is knowledgeable,

20:14

can help you with should you get

20:18

a Roth IRA, should you do this

20:18

to that, you know, you're

20:23

eligible for all this stuff,

20:23

because there's rules, rules and

20:27

rules. And if you're not aware

20:27

of all the rules and how they

20:31

affect each other, you can

20:31

definitely get yourself in

20:34

trouble. And the penalties are

20:34

50% are pretty nasty. So you

20:38

don't want to do that. You don't

20:38

want to just give your money to

20:41

the Uncle Sam, just because you

20:41

made a mistake by not knowing

20:46

all the rules and what applies

20:46

to what, and they changed so

20:50

much I'm going to talk about, I

20:50

just know, there's a lot of

20:53

rules, and you gotta follow him.

20:53

And if you don't you pay the

20:56

price. I'll be back in one

20:56

moment with my final thoughts.

21:01

If you're interested and

21:01

learning about an online

21:04

software that helped myself get

21:04

out of debt, it does tracking,

21:10

budgeting, and keeps track of

21:10

all your assets and all your

21:13

debt, and even tells you how

21:13

much and when to transfer money

21:19

into your savings account, and

21:19

how much and when to transfer

21:23

money to your debt, and which

21:23

debts to pay off and order.

21:28

First. It's not cheap. It's a

21:28

one time payment. But it will

21:33

definitely be an investment,

21:33

something and yourself and an

21:39

investment in your personal

21:39

financial life. If you're

21:43

interested, send me an email at

21:43

reduce debt increase

21:49

[email protected]. And I'll send

21:49

you the information about this

21:55

online software that worked

21:55

great for me, I have a link in

21:59

my show notes, the software that

21:59

I talked about that I use to get

22:04

out of debt is shop

22:04

financial.com, copy and paste it

22:08

and you'll go to the website. If

22:08

you have any questions about it,

22:12

once you review that, to send me

22:12

a notice or a comment or

22:17

whatever, through that website.

22:17

And I'll get back with him.

22:21

Also, in my show notes, I have a

22:21

link to happy graph.org. It is a

22:29

spreadsheet that the guy put

22:29

together to for those of you who

22:35

don't want to do a monthly

22:35

budget, but you still need to do

22:39

your tracking. And if you have

22:39

some numbers, and you can do a

22:45

report by category for at least

22:45

a 30 day period, get a good

22:49

start, you can use the happy

22:49

draft software or spreadsheet

22:54

fill out. And it tells you how

22:54

much money you have to spend on

22:59

a weekly basis. But when you

22:59

fill it out when you do in your

23:03

debt, when you're making debt

23:03

payments, make sure he's put the

23:06

minimum payment in there. And

23:06

they'll tell you, you have $100

23:10

A week that you can spend on

23:10

gasoline, groceries,

23:16

entertainment, whatever's left,

23:16

whatever you're not in there.

23:19

That's the amount of money you

23:19

have available. For those items.

23:23

It works really well. And I

23:23

recommend Sam link on my show

23:28

notes. They also have a

23:28

spreadsheet where you can put in

23:31

all your credit card debt, I

23:31

think they've even updated you

23:35

can put in all your debt. But if

23:35

you have credit card debt, put

23:38

that in first and they'll help

23:38

you figure out how to apply your

23:42

payments, which ones to pay off

23:42

it puts it right in front of

23:46

you. And then makes it a much

23:46

easier is something you should

23:50

do anyway. You should know all

23:50

this information you put in

23:54

their the name of the company,

23:54

the due date, when it when the

23:58

monthly payments, do the minimum

23:58

payment, the interest rate and

24:03

your unpaid balance. And they'll

24:03

track all that for you once you

24:06

get it in there. So happy

24:06

draft.org Check it out if you

24:10

want. They have YouTube videos

24:10

on how to use their stuff. It's

24:16

very informative. And if you'd

24:16

like to make a donation, it's

24:20

all free. But if you'd like to

24:20

make a donation, you can do

24:23

that. It's a nonprofit

24:23

organization, I believe. I've

24:28

been working with them from some

24:28

time I found the third

24:31

spreadsheet. I used it myself it

24:31

was really helpful. And they've

24:36

improved on it since I've used

24:36

it. So as your debt is coming

24:41

down and you're paying it off,

24:41

you should be increasing how

24:44

much you are investing, how much

24:44

you're investing for your

24:48

retirement, how much you're

24:48

putting aside in your emergency

24:52

fund. And then eventually once

24:52

your emergency fund gets a lease

24:58

for months minimum Long, six

24:58

months would be better,

25:02

depending on your risk

25:02

tolerance.

25:06

If you are in an industry that

25:06

has a lot of layoffs for a long

25:10

period of time, the more the

25:10

better. If you're in the

25:13

industry where it's easy to get

25:13

another job, you don't mind

25:17

moving across the country to get

25:17

an another job where you make

25:21

the same or more money you're

25:21

renting or whatever the case,

25:24

you can maybe make that a little

25:24

bit less, and then put it in the

25:28

market and start investing. Now

25:28

you'll see probably out there,

25:34

whether it's Facebook, YouTube,

25:34

social media, wherever it is,

25:38

they're saying, Well, why don't

25:38

invest in the market, do this

25:41

instead do that by gold buying,

25:41

you know, precious metals, real

25:48

estate, all these things are an

25:48

option. Do your research before

25:53

you jump in anything, don't

25:53

believe any one person,

25:57

everybody is different. Maybe

25:57

it's something you don't like to

26:01

do, you got to consider how easy

26:01

it is to acquire whatever

26:07

they're talking about how easy

26:07

it is to get rid of it. Some

26:11

things take a longer time, costs

26:11

more money to get takes longer

26:16

to get rid of less people buying

26:16

it at the market drops, how long

26:21

is it gonna take for it to

26:21

recover. All these things should

26:25

be considered before you just

26:25

jump in and do all this stuff.

26:29

The market is fairly easy to get

26:29

in, get out. If the market goes

26:35

up, you're making you're making

26:35

capital appreciation, Your

26:39

investments are going up, you

26:39

bought more shares at a lower

26:43

price because a lower price per

26:43

share, you get more shares. As

26:47

it goes up, each share is worth

26:47

more. So as you say, if you sell

26:54

it when it's up, then you sell

26:54

less shares. So you have it for

26:58

a longer period of time. It's

26:58

all everything is kind of

27:02

relative to what's going on.

27:02

Don't jump in the market when

27:07

it's high, and then pull out

27:07

when it starts to drop. That's

27:11

buying high and selling low.

27:11

You'll never make any money and

27:15

you'll never do good. constantly

27:15

put a regular amount in on a

27:21

regular basis, whether it's

27:21

monthly, quarterly or whatever,

27:25

put the money in over a period

27:25

of time and your costs will

27:29

average out and then leave it in

27:29

there when the market drops.

27:34

Don't panic. Just keep putting

27:34

money in because the lower drops

27:39

the more shares you're buying.

27:39

So when it goes back up, the

27:42

more value the more money you'll

27:42

have, the more be worth more

27:47

because you have more shares.

27:47

These are all things you cannot

27:52

ever time the market so don't

27:52

try to do that. So do it over an

27:57

average period of time. Do your

27:57

homework before you do anything.

28:03

Get professional help if you're

28:03

not sure what you should do. It

28:08

never hurts to get a another

28:08

opinion