352: Common Money Fears That Are Costing You BIG
With so much going on—a recession, rampant inflation, rising interest rates—overcoming your money fears can be more challenging than ever before. The world is changing, and many of us feel like we’re being swept along with it. Our dollars are worth less, our retirement accounts have fallen sharply, and our cash is wasting away. What should we do when it feels like every financial move has a benefit and drawback attached to it? Should we even be making moves right now?
Don’t get overwhelmed with financial anxiety because today we’re bringing you an episode full of financial fixes for the everyday investor! We posted on the BiggerPockets Money Facebook Group a few months back, asking you which money fears keep you up at night. Now, we’ve got answers! Back on the show are J Scott and Kyle Mast! They join Mindy in giving solutions to your greatest financial fears.
J and Kyle give suggestions on topics ranging from rising home prices and the inability to become a homeowner to being nervous about how inflation is eating away at the dollar. We also touch on the age-old question of whether or not we’redoing enough right now to set us up for retirement and how a recession could affect our hard-earned assets. J, Kyle, and Mindy all give their suggestions on these situations and spill some of their own financial fears to show you that even the experts still worry like everyone else.
In This Episode We Cover
Our biggest financial fears and what we’re doing to mitigate them in turbulent times
Growing up with very little and why the “never enough” mentality always lingers
Why buying a home isn’t your only option for building wealth in this market
Setting yourself up for a plentiful retirement even if you got a late start
Whether or not keeping a large cash position is a smart move to make
Changing jobs to get more personal time and when flexibility trumps finances
Inflation, interest rates, and how to stay sane during a recession
And So Much More!
Links from the Show
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-352
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