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Ep 4. How Keep Yourself Out of Trouble - What You Should Know About Risk Management
Manage episode 294132117 series 2931434
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Whether you are a conservative investor or a risky one, interested in short-term or long-term investments, have a lot of money, or just a little bit, today’s episode will give you some clarity around the process of deciding where to invest, and how to manage risks associated with your investments. We can’t predict the future and therefore investing can be nerve-wracking, as Kristin knows all too well! However, if you know your timeframe and you understand your money personality, you are already on the path to success. In this show, Colby offers explanations of a number of important topics; from capital gains taxes to wash-sales, to the difference between investing in public and private companies, and what your financials should look like before you start investing in the latter. Although shorting is only something that should be done when you have capital, and investing experience, Colby shares with Kristin how she can train herself for the time when she is ready to short the cannabis companies that she has no faith in. Tune in today for this informative discussion!
List of Topics Discussed:
- Struggles that Kirstin has when it comes to investing her money.
- We can’t predict the future, but we can learn to manage risks.
- The two core elements that will help you decide how to go about investing; knowing your timeframe and understanding your money personality.
- Different risk profiles, on a scale of one to 10.
- An explanation of what annuities are.
- Questions you should be asking yourself before taking risks.
- Short-term and long-term capital gains.
- Wash-sales, and why it’s important to be aware of these.
- Why many companies in younger, more nascent industries, can’t pay dividends.
- Investing in public companies versus private ones.
- The best way to invest $10,000.
- Why Kristin has no faith in some of the cannabis companies that so many people are putting money into.
- Paper trading, and how it can be beneficial to you.
3 Lessons Learned:
1. Feelings of anxiety around investing are pervasive.
2. How risk profiles and timeframes determine where you should be investing your money.
3. Differences between investing in public companies and private ones.
Credits:
Production - We Edit Podcasts
Music - Future Looks Bright - Nick Petrov
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