The attitude towards money and investing among the majority of people is concerning, according to Serge. Despite the economy being at a point where it needs a healthy slowdown, people continue to show a lack of seriousness toward their finances. Most people have forgotten that the markets go up and down, and there are economic cycles. People tend to have shameless greed and want to make as much money as quickly and as cheaply as possible. This attitude has resulted in people not taking long-term asset allocation seriously, and instead, they trade with 80% of their money while investing only 10-20%.
Serge advocates for the opposite approach, advising people to trade with only 20% of their money and invest the remaining 80%. He suggests spending more time on the long-term investment strategy instead of the short-term trading approach, which is the major fault of financial media and brokers. Serge believes that after two years of a bear market, people should not have a gambling mentality, but instead focus on the power of compound interest. He concludes that there comes a point when it's too late to fix one's portfolio for retirement, and it's essential to start taking investing seriously.
What You’ll Learn:
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The difference between investing and gambling.
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How different generations tend to view investing and trading.
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Ways to boost the long-term bucket when markets go sideways.
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And much more!
Favorite Quote:
“I’m truly, honestly, sincerely, shocked at people’s attitude towards the markets and more specifically, their money.” -Serge Berger
