Beware Who You Get Investment Advice From, Ep #70

<p>There were many articles published in August/September that were predicting a big stock marketing crash to come in October. In October 1929 and 1987, there were huge stock market crashes. 1987 was 34 years ago—what does it have to do with this stock market? </p> <p>Supposed “experts” predicted that we were supposed to get the biggest crash we’ve ever seen in October 2021. So where is it? More importantly, what happened to the people who listened to that prediction and pulled money from their retirement accounts? I share why you have to be wary of where you get your professional advice in this episode of Retirement Made Easy.</p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[4:10] Be wary whose advice you listen to</li> <li>[8:19] Why the stock market is so volatile</li> <li>[12:00] The retirement bucket strategy</li> <li>[13:31] Never loan money you can't live without</li> <li>[17:31] No one can time the market</li> </ul> <h2>What stemmed the market crash predictions</h2> <p>Robert Kiyosaki (the author of “Rich Dad, Poor Dad”) was interviewed in September and stated that he believed that we’d see the biggest crash in history this October. Why? Because of how the real estate market was doing in China. He thought it would spill over into the US and crash our stock market. A lot of people panicked. </p> <p>Other “experts” predicted a similar market crash. As I’m recording this episode, we are more than halfway through October. The S&P 500 is up 4.75% so far. I’m not seeing a stock market crash plastered across the news—are you? </p> <h2>Be wary whose advice you listen to</h2> <p>As a word of caution, be wary of people trying to predict the next market crash. Robert Kiyosaki isn’t even qualified to make predictions. He only served to make people panic, doing more harm than good. Even worse, people likely sold out of their long-term investments and abandoned their retirement plans because this big market crash was on the horizon. Sadly, just like the weatherman isn’t held respons