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Flight #72: Seven Lessons Learned from Markets in 2023

Kevin Gormley, CFP, CPA, PFS, and Lead Financial Planner at Leading Edge Financial Planning LLC., joins the show to help us explain the seven critical lessons learned in the tumultuous financial landscape of the past year. Brace yourself for a journey through bank failures, crypto turmoil, and market fluctuations that led to the collapse of major financial institutions, sending shockwaves through the industry.

Listen in to learn about the emotional rollercoaster experienced by investors during the ups and downs of 2023. You’ll discover the significance of diversification in weathering financial storms and the art of staying in the fight. We also share lessons on risk tolerance, capacity, and the art of ignoring forecasts in the quest for financial success.

What You’ll Learn In Today’s Episode:

  • What happened to the Tennessee Flygirl?
  • Whether the bonus/retro should go to the 401(k).
  • What caused the third-largest banking failure in U.S. history?
  • What it felt like to be an investor this year.
  • Why the S&P was high but portfolios were low.
  • The importance of diversification in your portfolio.
  • Why it is essential to think of our risk tolerance.
  • The benefit of ignoring the forecasts.

Ideas Worth Sharing:

  • “Oftentimes, the good returns come right on the heels of very difficult times.” – Charlie Mattingly
  • “As an investor, you never want to sell low and buy high, over and over again.” – Charlie Mattingly
  • “The reason diversification is such a beautiful thing is because it isn’t always about making the most amount of money—it’s about being able to stay in the fight.” – Kevin Gormley

Resources In Today’s Episode:

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