273 | What's an Emergency?

<ul> <li>We're going back to basics and taking a deep dive into the Roth IRA and the levers, tools, and investing strategies available to investors.</li> <li>Although ChooseFI offers the free <a href= "https://choosefi.com/fi101" target="_blank" rel="noopener">FI101 course</a>, taking small actions are important. Get up to speed and start taking action with the free five-day challenge by going to <a href="https://choosefi.com/start" target="_blank" rel= "noopener">ChooseFI/start</a>.</li> <li>ChooseFI has presented basic investing strategies over the years and will revisit in the coming months to distill and hash out all of the different methods to understand the fundamentals.</li> <li>Many of the strategies have a lot of overlap starting with low-cost broad-based index funds. What they all share is a common-sense approach and simple investing strategy which is that time in the market is better than timing the market.</li> <li>Most traditional index funds are cap-weighted resulting in a higher percentage of money being invested in a few top companies. Rather than take a dogmatic approach to low-cost broad-based fund investing, it may require the application of scrutiny, being open-minded, intellectual honesty, and consideration.</li> <li>JL Collins helped open up <strong>Jonathan's</strong> eyes to the power of simplicity and helped give him the confidence to start doing better with his finances. But as the terms and concepts have become more familiar, other perspectives become visible, along with the pros and the cons, and the questions he's been able to ask have gotten better.</li> <li>The questions you have as you learn more are worth exploring to help build confidence in your plan.</li> <li>When investing, minimize fees as much as possible. Fees for buying and selling, expense ratios, and advisory fees are all negatively impact your long-term returns.</li> <li>We can learn new things and get rid of limiting beliefs. After a speculative real estate investment went poorly, <strong>Brad</strong> was afraid of re