We had a #CreditChat on Twitter with Dr. Daniel Crosby @incblot to discuss goal-based investing. Dr. Crosby is a behavioral finance consultant to some of the finest brands around – and a monthly columnist for Investment News and Wealth Mangement. Learn more about his work at Incblot.org.
During this tweetchat, we also had a Google+ hangout to discuss favorite tweets. Video panel included: Tarra Jackson, Clair Murdough – ReadyForZero, Rod Griffin – Director of Public Education – Experian, and Mike Delgado. If you’d like to join our next video hangout, let us know.
Q1: What are reasons why many people aren’t investing?
Q2: How can we motivate ourselves and others to invest more for the future?
Q3: What is goal-based based investing? Why does that approach work?
Q4: Do you have advice for newbies just getting started with investing?
Q5: Do you have any favorite tools or resources to help you with investing?
Q6: What do you wish you knew about investing earlier in life?
Q7: Is it ever too late to invest? Do you have advice for those nearing retirement age?
Q8: Any final tips for those who want to make smart investments?
- 12 Rules for Investing
- The Ten Commandments of Investing [SlideShare]
- Value Investing and Behavioral Finance [Video]
- Incblot Blog
- WealthManagement.com Articles by Dr. Crosby
Tweetable Tips and Resources:
Excluding their primary home value, most Americans have less than $25,000 in retirement savings. [Retweet]
We need to think of saving/investing as a future benefit rather than a current loss. [Retweet]
Instead of worrying about the risk, acknowledge the positive gains that can come with investing. [Retweet]
Set retirement goals to plan for living life to the fullest. [Retweet]
Realize the time value of money – spending $1,000 today means robbing yourself of many thousands later. [Retweet]
Goal-based investors have been shown to save a great deal more and are much better at staying the course in a choppy market. [Retweet]
Goal-based planning gives you an incentive to invest – such as paying for a child’s college, retirement, etc. [Retweet]
Investing Tips: Look for these three things: Price (low P/E), Profit (good margins) and Pitfalls (e.g. debt) [Retweet]
Pick an advisor who is knowledgeable, has reasonable fees, and is a good behavioral coach you can trust. [Retweet]
It is just about impossible to reach financial goals without investing. We all have to get savvy. [Retweet]
Buy inexpensive, highly profitable companies with low debt load and sit on them for longer than you’d like. [Retweet]
Invest Like a Boss: What to Know About Goal-Based Investing [Retweet]