In this episode I am talking with Amanda Holden, author, speaker and expert in equipping women to make smart investment decisions. Amanda is super relatable and super passionate about you being financially free as a woman in retirement.
We’re talking about why investing needs to be a priority for women, the biggest takeaways from the stock market in 2008, and how to know if you’re ready to invest.
Amanda is the creator of Invested Development, the only investing course I recommend for Smart Money Mamas. If you want to start investing or build your investing confidence, click here to check out Amanda’s fabulously fun and informative course!
Grow your wealth with confidence by downloading our free guide!
As always, we’ve rounded up our top three takeaways to summarize what we believe are the core points to remember from Amanda.
I loved that Amanda called this out and that we got to discuss that we’re all learning about investing and that having more money doesn’t necessarily make you more ready or more knowledgeable.
Very wealthy clients of financial advisors are all asking the same questions – What do I do when the market swings up or down? Should I change things when I feel scared or excited? Do my investments match my goals?
Even if you’re feeling some imposter syndrome about investing or thinking that you’re just “too nervous” or “too green” to invest, know that simply learning the basics, listening to podcast episodes like this one, and keeping things simple and consistent is all you need to do to build wealth long term.
As Amanda said, “The call is coming from inside the house!”
One of the number one questions – or maybe a better word is concerns – of new investors is why the market moves up and down the way it does. New investors think that volatility is a sign that investing is like gambling.
But on a minute-to-minute, day-to-day basis, what moves the market is us. It’s supply and demand of investors who want in or out of different investments moving the price. Which means, our emotions can often drive bigger moves in the market than underlying business fundamentals would really indicate.
In those moments, remember to go back to your goals and your long-term investing plan. Remind yourself that, over the long-term, the market is actually surprisingly accurate at matching the actual growth of companies. And shut off any media-social or otherwise – voices that are making you feel like you have to react to those short term swings.
Investing is great and can absolutely build wealth. But if you jump in before you’re ready, you might make bad decisions – like trying to invest for the short-term or not keeping the rest of your financial foundation in order – that certainly don’t help you build wealth.
So be prepared before you start.
As Amanda said, you’re ready to invest when you have emergency savings, no emotionally stressful debt and are comfortable with the understanding that the market will be, not might be, but WILL be volatile.
Once you’re ready to focus on the long-term and ride the waves of market cycles, get investing and taking care of future you.
Amanda Holden is an award-winning money writer, speaker, and educator. Through her business, Invested Development, Amanda has taught thousands of women to invest. Using her unique mix of comedy and relatability, she shows her students — often for the first time ever! — that building wealth is within their capacity. Amanda also writes a women + money blog called The Dumpster Dog Blog and does tons of free investing education over on her Instagram, @dumpster.doggy. (And also shares the occasional #TRASHION outfit!!)
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