Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
Welcome. I'm back to Investing in Trading Live sponsored by
Trading Academy. As always, I am your host, Josh Lilquist.
In the last segment, we covered those income strategies, but
how do you use leverage in the financial markets and
not place all of your eggs. We had a lot
of people texting in and going to the website for
these free trading and investing workshops to come into this
investing in Trading workshop. We do these during the week
(00:27):
and the weekends, the mornings, afternoons and evenings, so anybody
can attend. If you have any goals or aspirations financially,
it might be advantageous to check out one of these
investing in trading workshops. Just text the word investing to
the number two ten two ten for two seats for
a free investing in Trading workshop. That's one for you
and one for a friend. Or go to trading academy
(00:48):
dot com and you can pick your own seat there.
That's trading Academy dot com. Make sure to follow and
subscribe to podcast. We have several segments going out through
the week. We're on about episode thirteen hundred and thirty
three I Believe is on the podcast I would I
would say out it's probably the longest raining podcast in
the metro here on the financial markets, Investing in Trading
(01:08):
Live wherever you listen to your podcasts, Apple podcasts are
iHeartRadio and Spotify. So make sure to click the bell
so you get notified every time a segment comes on,
just in case you missed part of the show here today,
so out on this next segment here. We have a
lot of people that have been coming to the Academy,
especially lately because the comments that we've been hearing is
they want to have matters in their own hands. There
(01:31):
is a lot of people out there that trust quote
unquote trust advisors, trust brokers, trust the money manage or
whoever it is. I mean not to put the people down,
because the people are probably good people, but they're trying
to make a living to and it's a business, right.
But what's happening is if they're trusting a stranger to
(01:51):
manage their money, they're telling me they don't want to
spend those golden years at the Golden Arches or as
a Walmart. Great, because you're seeing that happening. People don't
have that control on what they need for retirement and
what they hear and what I've been hearing people tell
me lately is they've been telling all these sweet nothings,
like showing all these graphs and you're going to have
(02:13):
this a retirement time because the historical rates of returns
and everything and YadA YadA YadA. It looks great on paper.
But we talked about this a few weeks ago. The
average four oh one K balance is only like one
hundred or two hundred and fifty grand or something like
that or right around there. So it's not a lot.
You can't retire off of that. So what is the problem.
There's a challenge on that. So I'd like you to
(02:36):
discuss a little bit and breakdown why it's so important
to really do this yourself, have your manners into your
own hands.
Speaker 2 (02:45):
Well, For one thing, things have changed over the years
and the opportunities that are available to people are greater
than they used to be. You know, you mentioned I
think earlier that a lot of people are coming in
and they're upset because they're not they see the market
functioning really well, but they're not getting the results that
they think they should get. And you have to understand
this that for most advisors to survive, they have to
(03:08):
put their clients into a product and then go out
and find more clients.
Speaker 1 (03:12):
I mean, that's what's that called assets under managed. That's
under manag it's just gathering as much money as they can.
Speaker 2 (03:18):
So so that means that they may have several hundred clients,
which means that not every client is going to get
the same kind of time and the same kind of
effort on their part.
Speaker 1 (03:28):
Well, here's the question, how many calls have you received
or consultations have you had from your four oh one K,
your broker, your advisor. You might get a call once
a year, hopefully at least, but most people aren't. And
they call them and say, hey, things are looking great.
We're just going to keep it on cruise control.
Speaker 2 (03:44):
Yeah, Or when the market's crashing there they may say,
you don't worry about We're going to hold your hand.
We're with you on this.
Speaker 1 (03:50):
Keep it for the long.
Speaker 2 (03:54):
So a lot of people, because a lot of advisors
have so many clients, they're put into something like a
mutual fund or some ETFs, or maybe a proprietary investment.
Speaker 1 (04:05):
For us worst yet an annuity, a purchase from them.
Speaker 2 (04:10):
Yeah, we could do a wholet show on annuities, because
that is most advisors, most reputable advisors out there, will
tell you to stay away from from annuities. And there's
a number of reasons for that. We'll do that on
a number show.
Speaker 1 (04:25):
We talk to some of the stuff in that Free
Investment Treading workshop.
Speaker 2 (04:27):
Too, exactly so. And here's the other thing. If you
are looking for income, it means you have to be
able to get into it out of something short term,
and for some people that maybe daily or weekly or monthly.
We talk about this all the time.
Speaker 1 (04:40):
And you dictate that timeframe too, So it's not like
you have to do it daily. You don't have to.
You can do it weekly, you can do it monthly.
So that's a strategy that you can dictate.
Speaker 2 (04:48):
Yeah, And that's all part of a plan, and a
plan should be specific to each person.
Speaker 1 (04:52):
And that's the important thing that we teach at the
academy is having a plan for whatever strategy that you
need out of that.
Speaker 2 (04:57):
Yeah. And the point I want to make here though,
is that if an advisor has several hundred clients, maybe
they've got three, four or five hundred clients and their
clients are all short term income clients. There is no
way possible that they have enough time to devote to
getting you into and out of something on a daily
or weekly or monthly basis. They have to put you
(05:19):
into something this more long term, charge you a fee
for that. And then again, like I mentioned, go out
and find new clients. That's how they stand business. It's
assets under management. So and then also, if you're being
put into something with hundreds or thousands of other people,
is it really the most beneficial for you. Maybe you're
in a position where you need to play catch up.
(05:41):
You need to get better returns than the market is
providing better returns than your advisors providing. How do you
do that? Well, that's where taking control of your assets
and learning how to use some of these other assets
is important. That's what we do. You're not getting that
information you mentioned earlier, the three different directions of market
goes almost I would say the majority of the public
(06:03):
only participates when the market's going up, which means are
missing out on half of their lifetime or more of
opportunities if you don't know how to benefit when the
market's going down or when.
Speaker 1 (06:13):
A sideways correct And just to correct myself here a
little bit l about the average for a one K balance.
This is all public knowledge. It's you can google this stuff.
So what did I do? I just google this? And
this is from sources like Fidelity and CNBC. The average
for one K balance by age group twenty to twenty nine,
fourteen thousand, thirty to thirty nine, forty thousand, forty forty
(06:37):
to forty nine, ninety thousand, fifty to fifty nine, one
hundred and sixty thousand, and sixty to sixty nine is
only two hundred thousand. That's the average. If you have
more than that, don't think you're doing awesome. You're hopefully
doing better than everybody else. But that's the average. And
what do you need to retire these days? And this
is based off Fidelity? Most people have that Fidelity account.
(07:00):
So what can you do differently? Out? What can you
do differently so you're not in that camp of everybody else?
Speaker 2 (07:08):
Well, it means doing something you haven't done before, and
it means doing something that you probably are not going
to get proper education on by going to YouTube. Your
broker is not going to tell you how to do
that because they want you to keep your money with them.
Typically like it a four oh one K where you
really you're you're penalized if you want to take your
(07:30):
own money out of the four oh one K before
you're fifty nine and a half years old. So how
do you do that? Well, you have to go somewhere
where people will teach you without bias, what these different
assets are. And also it's not just teaching you what
they are, it's showing you how they're used, how to
use them, and then it's having you actually do it.
It's hands on. That's what sets the Trading Academy apart.
(07:54):
They're physical locations where you can go and you can
actually sit with real, live people that can actually help you.
We when when people are students at the Trading Academy,
when they go through a class, let's just say you
take an options class, we have you trading options in
the class, not using your money, but trading so you
(08:14):
kind of get your hands dirty. It's like anything else
you learn, you have to you have to actually do
it to learn. You mentioned brain surgery earlier. You know,
a doctor doesn't just go to school, read a book
on how to perform neurosurgery and then they do it.
They go through uh you know clinics where their watching
people do it, then they go through. Actually when they
(08:36):
start doing it, there are other doctors there that are
experienced that are watching them, helping them.
Speaker 1 (08:40):
It's trading.
Speaker 2 (08:41):
Yeah, it's it's like trading and investing is the same.
Speaker 1 (08:44):
What's interesting now is I had an e MG down
the other day electromagnetic something or other I don't even know,
and it was it was amazing how similar that was
to tradeing and investing, because there's electromagnetic pulses and actually
sounds that they have on a chart or like you
call it a graph or a chart. And I was like,
how do you know how to read that thing? I'm like,
(09:06):
what is that thing? And we were talking prior to that,
what you know? What I do?
Speaker 2 (09:10):
You know?
Speaker 1 (09:10):
We talked about I had a radio program that was
just played a call across the metro about the financial markets.
And he's like, well, it's probably the same way you
read a price chart. You learned how to do it,
and this is telling all these lines. I'm looking at
what he told me. It is telling me a story.
And he's like, it's probably the same thing you do
in the financial markets is you're reading a story, which
(09:30):
is a price chart and then you determine what could
happen next with high probability entry points. And that's just
a strategy. Same thing goes with any profession or anything
that you do. Once you know how to do it,
then you just it's a consistency thing. And that's what
we dive into and illustrate for you in these free
trading and investing workshops. So if you have concerns about retirement,
if you want to have the opportunity to manage your
(09:53):
accounts yourself, it's not rocket science, you just haven't been
taught yet, come to one of these free investing trading
workshops and we'll dive into what that takes, what it
takes to move forward to hopefully reach the goals and
objectives that you do have. But you got to take
that first step, which sometimes that first step is the
hardest step to take, and that first step it would
(10:13):
be this free trading and investing workshop. To come into
one of these workshops, just text the word investing to
the number two ten, two ten, that'll be for two
seats one feet a friend, or just goes straight to
trading Academy dot com, tradng academy dot com and you
can pick your own seat and date there. I'll hit
them up with the old tip of the week.
Speaker 2 (10:33):
Well, you know what, being successful starts with making the
decision to be successful. But you can't just talk about
you want to make a change in your life. You
have to take action and put in the work. You
have to take the first step to actually make a change.
You know what, Maybe that change will be what makes
your dreams come true. Don't wait and do it later,
(10:53):
because for many people, later becomes never. Remember you can't
achieve a higher level of anything. Behaving is a person
who got you to where you are now.
Speaker 1 (11:03):
I like that. Sometimes you have to be instead of
just being a talker, be a doer and it takes action.
We've discussed a lot of different topics here today, the
income side of things. We talked about some retirement here
in the last segment, and people we're seeing more and
more people all that just want to be able to
do it themselves. Have more control, which is one of
those three c's we talked about, you know for many,
(11:23):
many years now is having more control with their finances.
So text the word investing to get started with that
to the number two ten two ten or go to
trading academy dot com for a free investing in Trading workshop.
Trading Academy invest differently, smarter, skillfully as always, same time,
same place, next week, and till then retire young their
(11:44):
friends
Welcome. I'm back to Investing in Trading Live sponsored by
Trading Academy. As always, I am your host, Josh Lilquist.
In the last segment, we covered those income strategies, but
how do you use leverage in the financial markets and
not place all of your eggs. We had a lot
of people texting in and going to the website for
these free trading and investing workshops to come into this
investing in Trading workshop. We do these during the week
(00:27):
and the weekends, the mornings, afternoons and evenings, so anybody
can attend. If you have any goals or aspirations financially,
it might be advantageous to check out one of these
investing in trading workshops. Just text the word investing to
the number two ten two ten for two seats for
a free investing in Trading workshop. That's one for you
and one for a friend. Or go to trading academy
(00:48):
dot com and you can pick your own seat there.
That's trading Academy dot com. Make sure to follow and
subscribe to podcast. We have several segments going out through
the week. We're on about episode thirteen hundred and thirty
three I Believe is on the podcast I would I
would say out it's probably the longest raining podcast in
the metro here on the financial markets, Investing in Trading
(01:08):
Live wherever you listen to your podcasts, Apple podcasts are
iHeartRadio and Spotify. So make sure to click the bell
so you get notified every time a segment comes on,
just in case you missed part of the show here today,
so out on this next segment here. We have a
lot of people that have been coming to the Academy,
especially lately because the comments that we've been hearing is
they want to have matters in their own hands. There
(01:31):
is a lot of people out there that trust quote
unquote trust advisors, trust brokers, trust the money manage or
whoever it is. I mean not to put the people down,
because the people are probably good people, but they're trying
to make a living to and it's a business, right.
But what's happening is if they're trusting a stranger to
(01:51):
manage their money, they're telling me they don't want to
spend those golden years at the Golden Arches or as
a Walmart. Great, because you're seeing that happening. People don't
have that control on what they need for retirement and
what they hear and what I've been hearing people tell
me lately is they've been telling all these sweet nothings,
like showing all these graphs and you're going to have
(02:13):
this a retirement time because the historical rates of returns
and everything and YadA YadA YadA. It looks great on paper.
But we talked about this a few weeks ago. The
average four oh one K balance is only like one
hundred or two hundred and fifty grand or something like
that or right around there. So it's not a lot.
You can't retire off of that. So what is the problem.
There's a challenge on that. So I'd like you to
(02:36):
discuss a little bit and breakdown why it's so important
to really do this yourself, have your manners into your
own hands.
Speaker 2 (02:45):
Well, For one thing, things have changed over the years
and the opportunities that are available to people are greater
than they used to be. You know, you mentioned I
think earlier that a lot of people are coming in
and they're upset because they're not they see the market
functioning really well, but they're not getting the results that
they think they should get. And you have to understand
this that for most advisors to survive, they have to
(03:08):
put their clients into a product and then go out
and find more clients.
Speaker 1 (03:12):
I mean, that's what's that called assets under managed. That's
under manag it's just gathering as much money as they can.
Speaker 2 (03:18):
So so that means that they may have several hundred clients,
which means that not every client is going to get
the same kind of time and the same kind of
effort on their part.
Speaker 1 (03:28):
Well, here's the question, how many calls have you received
or consultations have you had from your four oh one K,
your broker, your advisor. You might get a call once
a year, hopefully at least, but most people aren't. And
they call them and say, hey, things are looking great.
We're just going to keep it on cruise control.
Speaker 2 (03:44):
Yeah, Or when the market's crashing there they may say,
you don't worry about We're going to hold your hand.
We're with you on this.
Speaker 1 (03:50):
Keep it for the long.
Speaker 2 (03:54):
So a lot of people, because a lot of advisors
have so many clients, they're put into something like a
mutual fund or some ETFs, or maybe a proprietary investment.
Speaker 1 (04:05):
For us worst yet an annuity, a purchase from them.
Speaker 2 (04:10):
Yeah, we could do a wholet show on annuities, because
that is most advisors, most reputable advisors out there, will
tell you to stay away from from annuities. And there's
a number of reasons for that. We'll do that on
a number show.
Speaker 1 (04:25):
We talk to some of the stuff in that Free
Investment Treading workshop.
Speaker 2 (04:27):
Too, exactly so. And here's the other thing. If you
are looking for income, it means you have to be
able to get into it out of something short term,
and for some people that maybe daily or weekly or monthly.
We talk about this all the time.
Speaker 1 (04:40):
And you dictate that timeframe too, So it's not like
you have to do it daily. You don't have to.
You can do it weekly, you can do it monthly.
So that's a strategy that you can dictate.
Speaker 2 (04:48):
Yeah, And that's all part of a plan, and a
plan should be specific to each person.
Speaker 1 (04:52):
And that's the important thing that we teach at the
academy is having a plan for whatever strategy that you
need out of that.
Speaker 2 (04:57):
Yeah. And the point I want to make here though,
is that if an advisor has several hundred clients, maybe
they've got three, four or five hundred clients and their
clients are all short term income clients. There is no
way possible that they have enough time to devote to
getting you into and out of something on a daily
or weekly or monthly basis. They have to put you
(05:19):
into something this more long term, charge you a fee
for that. And then again, like I mentioned, go out
and find new clients. That's how they stand business. It's
assets under management. So and then also, if you're being
put into something with hundreds or thousands of other people,
is it really the most beneficial for you. Maybe you're
in a position where you need to play catch up.
(05:41):
You need to get better returns than the market is
providing better returns than your advisors providing. How do you
do that? Well, that's where taking control of your assets
and learning how to use some of these other assets
is important. That's what we do. You're not getting that
information you mentioned earlier, the three different directions of market
goes almost I would say the majority of the public
(06:03):
only participates when the market's going up, which means are
missing out on half of their lifetime or more of
opportunities if you don't know how to benefit when the
market's going down or when.
Speaker 1 (06:13):
A sideways correct And just to correct myself here a
little bit l about the average for a one K balance.
This is all public knowledge. It's you can google this stuff.
So what did I do? I just google this? And
this is from sources like Fidelity and CNBC. The average
for one K balance by age group twenty to twenty nine,
fourteen thousand, thirty to thirty nine, forty thousand, forty forty
(06:37):
to forty nine, ninety thousand, fifty to fifty nine, one
hundred and sixty thousand, and sixty to sixty nine is
only two hundred thousand. That's the average. If you have
more than that, don't think you're doing awesome. You're hopefully
doing better than everybody else. But that's the average. And
what do you need to retire these days? And this
is based off Fidelity? Most people have that Fidelity account.
(07:00):
So what can you do differently? Out? What can you
do differently so you're not in that camp of everybody else?
Speaker 2 (07:08):
Well, it means doing something you haven't done before, and
it means doing something that you probably are not going
to get proper education on by going to YouTube. Your
broker is not going to tell you how to do
that because they want you to keep your money with them.
Typically like it a four oh one K where you
really you're you're penalized if you want to take your
(07:30):
own money out of the four oh one K before
you're fifty nine and a half years old. So how
do you do that? Well, you have to go somewhere
where people will teach you without bias, what these different
assets are. And also it's not just teaching you what
they are, it's showing you how they're used, how to
use them, and then it's having you actually do it.
It's hands on. That's what sets the Trading Academy apart.
(07:54):
They're physical locations where you can go and you can
actually sit with real, live people that can actually help you.
We when when people are students at the Trading Academy,
when they go through a class, let's just say you
take an options class, we have you trading options in
the class, not using your money, but trading so you
(08:14):
kind of get your hands dirty. It's like anything else
you learn, you have to you have to actually do
it to learn. You mentioned brain surgery earlier. You know,
a doctor doesn't just go to school, read a book
on how to perform neurosurgery and then they do it.
They go through uh you know clinics where their watching
people do it, then they go through. Actually when they
(08:36):
start doing it, there are other doctors there that are
experienced that are watching them, helping them.
Speaker 1 (08:40):
It's trading.
Speaker 2 (08:41):
Yeah, it's it's like trading and investing is the same.
Speaker 1 (08:44):
What's interesting now is I had an e MG down
the other day electromagnetic something or other I don't even know,
and it was it was amazing how similar that was
to tradeing and investing, because there's electromagnetic pulses and actually
sounds that they have on a chart or like you
call it a graph or a chart. And I was like,
how do you know how to read that thing? I'm like,
(09:06):
what is that thing? And we were talking prior to that,
what you know? What I do?
Speaker 2 (09:10):
You know?
Speaker 1 (09:10):
We talked about I had a radio program that was
just played a call across the metro about the financial markets.
And he's like, well, it's probably the same way you
read a price chart. You learned how to do it,
and this is telling all these lines. I'm looking at
what he told me. It is telling me a story.
And he's like, it's probably the same thing you do
in the financial markets is you're reading a story, which
(09:30):
is a price chart and then you determine what could
happen next with high probability entry points. And that's just
a strategy. Same thing goes with any profession or anything
that you do. Once you know how to do it,
then you just it's a consistency thing. And that's what
we dive into and illustrate for you in these free
trading and investing workshops. So if you have concerns about retirement,
if you want to have the opportunity to manage your
(09:53):
accounts yourself, it's not rocket science, you just haven't been
taught yet, come to one of these free investing trading
workshops and we'll dive into what that takes, what it
takes to move forward to hopefully reach the goals and
objectives that you do have. But you got to take
that first step, which sometimes that first step is the
hardest step to take, and that first step it would
(10:13):
be this free trading and investing workshop. To come into
one of these workshops, just text the word investing to
the number two ten, two ten, that'll be for two
seats one feet a friend, or just goes straight to
trading Academy dot com, tradng academy dot com and you
can pick your own seat and date there. I'll hit
them up with the old tip of the week.
Speaker 2 (10:33):
Well, you know what, being successful starts with making the
decision to be successful. But you can't just talk about
you want to make a change in your life. You
have to take action and put in the work. You
have to take the first step to actually make a change.
You know what, Maybe that change will be what makes
your dreams come true. Don't wait and do it later,
(10:53):
because for many people, later becomes never. Remember you can't
achieve a higher level of anything. Behaving is a person
who got you to where you are now.
Speaker 1 (11:03):
I like that. Sometimes you have to be instead of
just being a talker, be a doer and it takes action.
We've discussed a lot of different topics here today, the
income side of things. We talked about some retirement here
in the last segment, and people we're seeing more and
more people all that just want to be able to
do it themselves. Have more control, which is one of
those three c's we talked about, you know for many,
(11:23):
many years now is having more control with their finances.
So text the word investing to get started with that
to the number two ten two ten or go to
trading academy dot com for a free investing in Trading workshop.
Trading Academy invest differently, smarter, skillfully as always, same time,
same place, next week, and till then retire young their
(11:44):
friends
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