Jellyman Investing - Personal Finance for Australians
If you're an Aussie (A.k.a Australian) and looking to get control of your debt, or maybe learn about investing in the stock market, possibly real estate investing, then you've come to the right place. My name is Jed Guinto and this is Jellyman Investing!!
The origins of this podcast name will be explained in due course! Many years ago, I was broke and deep in 5-figure debt. I didn't know anything about finances, didn't know how credit cards worked, had no savings and the thought of one day buying my own property was just wishful thinking.
Maybe you're going through some of this. Fast forward 5 years and everything has changed. No more debt, no more credit cards, 5 figures investments in the stock market, I have my own property and a passive income. All in 5 years. Is this something you'd like to achieve?
My goal to teach you how to get control of your finances, teach you secrets and techniques we've personally used to take our lives back from Banks and institutions charging us exorbitant fees, real estate agents using fancy jargon to confuse you and finally, social media pressuring you to make financial decisions you don't understand. Welcome, to Jellyman Investing!
Jellyman Investing - Personal Finance for Australians
S01_E15 - The Biggest Money Fears and What to do about them
https://www.patreon.com/Jellyman_Investing
Let's talk fear. There are a lot of things to be scared about financially. Job loss, retirement, your children, etc. The amazing thing about finance is that there's usually something we can do about it. It's rarely terminal. We just need to take the right action as soon as we can and let time do the rest.
Let's face it. The world is scary out there. Especially if we have a family that depends on us financially. Losing a job for example spells disaster and if you have got the right systems in place, you're in for a world of hurt. The great thing about this is that these issues are solvable. You just need to know how.
I'm going to go through 7 of the biggest fears I know people have when it comes to money and then talk briefly about some of the things you can do to put these fears to rest.
- Running Out of Money: This is perhaps the most common fear. It encompasses worries about not having enough money to meet daily needs, cover emergencies, or maintain a desired lifestyle, especially during retirement.
- Debt: Many people fear being overwhelmed by debt, whether it's from credit cards, student loans, or mortgages. The stress of managing and repaying large debts can be a significant source of anxiety.
- Job Loss/Income Instability: The fear of losing a job and the resulting loss of income is a major concern. This fear is heightened in economic downturns or industries prone to layoffs.
- Inflation and Rising Costs: People often worry about the decreasing purchasing power of their money due to inflation, especially when it comes to long-term goals like retirement savings.
- Investment Losses: For those who invest, the fear of making poor investment choices or experiencing market downturns can be significant. This includes concerns about not knowing enough to invest wisely or losing capital due to market volatility.
- Healthcare Costs: The potential for significant healthcare expenses, especially in later life or due to chronic health conditions, is a major financial fear for many.
- Not Being Able to Afford Retirement: Many fear that they won't be able to save enough for retirement, or that their retirement savings won't last through their retirement years.
