How to Get Out of Traps Laid by Bad Investments

October 9, 2015


Do you feel stuck with an individual stock you bought? Or maybe you bought into a front-loaded mutual fund a while ago, and now you’re not sure what to do with it. Perhaps you’ve got one of those variable annuities and it’s dragging your financial life down.

On the show today, we’re talking about financial follies and the traps we fall into from bad investments — and how to get out of them. We’re going to turn lemons into lemonade.

And don’t forget: the Money-Guy family is expanding! We’re your personal financial podcasters every other Friday, but every day we’re fee-only financial planners who work with clients in 29 states. If you want to join up with us, don’t hesitate to reach out to brian [at] money-guy.com or bo [at] money-guy.com

Let’s dive into the show today, and walk through some common money mistakes and traps.

You’ll Learn:

  • What the sunk cost fallacy is, and how it can trip you up in your financial life
  • Why individual stocks seem so sexy (but can lead you astray)
  • How to decide when to leave an individual stock behind
  • When it’s time to go pro and ask for help in developing a better financial plan
  • What loaded mutual funds are and how they affect your nest egg
  • How to mitigate high expenses derail your investment plan
  • How immediate, deferred, and variable annuities work
  • Why annuities sold within IRAs or 401(k)s are one of Brian’s biggest pet peeves
  • What your options are for getting out of whole life insurance policies
  • What (and who) to watch out for when you’re buying a new insurance policy

Resources from this Episode

Tune In and Take Your Financial Knowledge Beyond Common Sense

Thanks so much for tuning in to this episode of The Money-Guy Show. Remember, you can always reach out to us if you have any questions or are interested in getting your own personal Money Guy on your financial team.

Send us an email at brian [at] money-guy.com or bo [at] money-guy.com, and connect with us on your favorite social network. We’re on Facebook, and also on Twitter @MoneyGuyPodcast.

If you enjoyed this episode, be sure to join the community and get the latest podcast episodes straight to your inbox!

Most Recent Episodes

How to Win With Money in 2023!

Financial resolutions are always near the top of the list of Americans’ most popular New Year’s resolutions. Whether you want to save and invest more, pay off debt, or have other financial goals, we will give you the tools you need to win with money in 2023.   In this...

TikToks That INFURIATE Financial Advisors

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 TikTok is the new frontier. Is there good...

5 Levels of Wealth AND How to Achieve Them! (2023 Edition)

We believe there are five distinct levels of wealth, but they aren’t solely dependent on income or net worth. We’ll walk you through each of the five levels - including how to know where you are at, how to advance to the next level, and signs you are doing it right.  ...

Average Net Worth By Age in 2023!

It’s time for one of our most anticipated shows of the year: our annual Net Worth By Age show! In this year’s edition, we’ll shared updated numbers and data for 2023 and discuss the most important things for you to focus on in each decade.   In this episode, you'll...

Win Financially During a Recession! (Everything You Need to Know)

The bear market we've experienced in 2022 has been longer than many in recent memory - and some are concerned that the economy may soon enter into a recession. Here's everything you need to know to stay on-track and win financially during a recession!   In this...

The Fed Just BROKE the Car Market! (What You Need to Know)

Car prices have been on a rollercoaster ride the last few years, and it looks like they might finally be coming down. In this episode, we’ll discuss what you need to know about the current car market, pitfalls of buying a car, and how to do it the right way.   In this...

Top 4 Money Mistakes People Make During the Holidays!

There’s a reason why financial resolutions are always near the top of the list in January - many Americans spend the holiday season making financial mistakes. In this episode, we’ll discuss the top money mistakes people make during the holidays and how to avoid them....

Financial Advisors Share What They WISH They Knew About Money Earlier!

Have you ever felt like if you just knew this one thing about money earlier your finances would be in a better spot? In this episode, we’ll share the five biggest things we wish we knew about money earlier!   In this episode, you'll learn: What we wish we knew earlier...

Dave Ramsey vs. The Money Guy: Which Strategy is The Best?

Dave Ramsey has an incredible legacy of helping folks get out of debt and take control of their financial lives. We agree on a lot of things, but there are a few points of contrast. In this episode, we’ll discuss differences between The Money Guy Show and Dave Ramsey...

Top 4 Financial Mistakes We Saw This Year! (2022)

We saw some wild financial mistakes this year during the bear market. From making extreme changes to portfolio allocation, chasing the hot dot, and using too much leverage, we’ll talk about some of the biggest financial mistakes we saw in 2022 in this episode.   In...