fbpx

Money and Your Brain, AMT Update

December 22, 2007

First and foremost… Merry Christmas! This is my favorite time of the year. It is during this time when the year is coming to a close, family and social time outweighs normal day to day business, and we all have the time to reflect on our blessings and short-falls.

2007 is about to be history, and many of you are probably scared because the stock market has been anything but stable. Today’s show will hopefully bring you comfort in these uncertain times (by the way we are always in uncertain times), and help you recognize what is important in the big picture of personal finance.

The emotions that your brain creates can lead to disaster if you do not know how to recognize where your decisions and actions are coming from (analytical side of the brain or emotional instinct to avoid risk). Listen to our show and then also check out the Money Magazine article by Jason Zweig titled “Your money and your brain” (click here for link)

Remember when you are wondering if the financial markets are going up or down the answer is always, “YES”. Investing is suppose to be a long-term commitment (at least 5-7 years) and in the short-term the markets will both go up and go down. However, if you can put that money to work and not let your short-term emotions spoil the riches of deferred gratification in the long-term you will make money. Listen to our show and I will share the average returns for each decade of the S&P 500 (from 1928 to now).

In today’s show I also discuss the band-aid of a fix that our government has done to keep the AMT monster at bay for another year (that is alternative minimum tax). If you need more insight on what AMT is, one of our listeners has a great blog that gives a pretty good crash course.

Thank you for an incredible 2007 and for providing so many positive comments on iTunes (I truly believe that your comments have led many to listen to our objective and open insight into the world of personal finance). Please continue to share our show with your friends and family, and I always welcome more comments.

Merry Christmas and Thanks again!!!

FILED UNDER: Podcasts

Most Recent Episodes

3 WORST Types of Financial Crooks (Don’t Get Scammed!)

In the financial world, there are a lot of crooks that try to get into your pockets. From metaphorical crooks selling a bad product to literal crooks stealing your money, we'll cover the different types of financial crooks to watch out for and how you can protect...

Financial Advisors React to NFL Players Spending Their First Million!

Not many Americans will ever make over one million dollars in a year, but professional athletes regularly make that and more. In this react video, we'll see how NFL players spent their first million dollars after making it into the league. As we review their mistakes...

Everything You Need to Know About Real Estate Investing!

Over the years, we have had some great conversations about real estate investing. In this episode, we put together the ultimate guide to show you everything you need to know about real estate investing! In this episode, you'll learn: How to get started in real estate...

The Truth About The FIRE Movement! (Is FIRE Still Possible?)

Since the advent of the FIRE movement several decades ago, we have never experienced a period of higher inflation until now. With the market down over 20% and inflation at 40-year highs, is FIRE still possible in 2022? If it is, what does it take to become financially...

Top 3 Most Controversial Money Issues! (Our Hot Takes)

We have some unpopular opinions about controversial money topics. In this episode, we'll discuss our three biggest controversial hot takes, including our thoughts on nice cars, wealthy people, and real estate. You won't want to miss this one! In this episode, you'll...

Why College in America is Broken [And What You Can Do About It]

College costs in America have skyrocketed over the last few decades, as has the total student loan debt in the country. In this episode, we'll talk about why college in America is broken, what went wrong, and how you can do college the right way. In this episode,...

Why This Recession is Going to Be VERY Different!

Every recession is different, and this one is no exception: we are currently experiencing once-in-a-lifetime inflation and started the recession with historically low interest rates. Will this recession be different from any other we've experienced? How will it end...

How to Protect Your Finances During a Recession! (By Age)

The S&P 500 recently crossed over into bear market territory, and many in the financial media believe we are in a recession. Bear markets and recessions affect everyone differently, and we think there are certain things you need to focus on (or forget about) by...

Avoid These Home Buying Mistakes! (Even During a Crazy Market)

Housing prices have gone up over 30% in the last two years, and over 70% when you account for rising interest rates. However, there are some glimmers of hope in the housing market for those looking to buy. Will the market cool off anytime soon? How can you buy a house...

Financial Advisors React to OUTRAGEOUS Money Advice on TikTok!

The most powerful time to get serious about building wealth is when you’re young. So, what is the younger generation learning? Financial Advice (good and bad) is being produced in massive rates across online platforms and Tik Tok is the new frontier. Is there good...

Financial strategies to your inbox!

Never miss a show again, get special offers and early access. Ready to build wealth and start owning your time? 

You have Successfully Subscribed!