Over the next several weeks, we’ll be reading through Steve’s book, Power Up Your 401k, one chapter at a time. In today’s episode, we’ll tackle Chapter 3: Manage The Psychology of Investing.
Just like a sharp turn on a bike trail requires focus, balance, and measured action, managing your investments demands a steady mindset and a clear strategy. This chapter dives into the role psychology plays in how we perceive risk and shows how fear of the unknown can lead to decisions we might regret.
Steve explains that true risk comes not from the market itself but from being unprepared. He shares tips for maintaining momentum through economic cycles, how to avoid emotional pitfalls like panic selling, and why it’s important to understand your own tolerance for market swings.
If you’d like to follow along, be sure to grab your copy of Steve’s book in the description below!
Here’s some of what we discuss in this episode:
0:00 – Intro
2:27 – The psychology of risk
9:10 – Handling risk
15:33 – Overcoming fear
Resources
Get your copy of Power Up Your 401K: https://keap.page/ngt919/toolkit.html
Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg
Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12
Other ways to get in touch:
Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors
