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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security.

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Speaker 3: You've written down your six Golden rules of investing, and

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Speaker 3: so I would love you to lay it out for

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Speaker 3: the people going into the new year. Having a strategy,

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Speaker 3: maybe they can implement of some of the things that

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Speaker 3: you're using as an experienced investors, that's their portfolios.

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Speaker 4: Yeah, I'm going to do this, but I want you

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Speaker 4: guys to chime in because I've been really looking forward

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Speaker 4: to sharing this with you. The first one's always start early, right,

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Speaker 4: the earlier you start, for better. I always tell this

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Speaker 4: to kids. I do a lot of high school classes,

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Speaker 4: and I say, how do you get double your room?

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Speaker 4: What's the easiest way to double your money? And they

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Speaker 4: always come up with love, buy crypto or you know,

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Speaker 4: buy a house. No, if you put ten thousand dollars

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Speaker 4: in the S and P five hundred ten years ago

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Speaker 4: and you went away and joined the circus and didn't

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Speaker 4: look at it, what would it be worth today? Twenty

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Speaker 4: five grand? Right, that's how you double your money. The

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Speaker 4: earlier you start, the better. So starting early is the

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Speaker 4: answer to everything. And you don't you know. Compounding is

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Speaker 4: one of those things where we talk about it. Yeah,

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Speaker 4: over time, your money produces money. When you're young, you

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Speaker 4: don't feel it. Then I think you guys will appreciate this.

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Speaker 4: You see compounding every You see it all at once, right,

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Speaker 4: it's like nothing, nothing, nothing, And then oh my gosh, yeah,

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Speaker 4: you look at your portfolio. When you're like Ford and

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Speaker 4: you're like, whoa, that's time. That's the magic of compounding.

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Speaker 4: That's why Einstein called it the ninth wonder of the world.

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Speaker 4: So starting early really helps you realize that if you

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Speaker 4: start at twenty five, at forty five, you're going to

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Speaker 4: give yourself a huge hug.

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Speaker 5: Right, that's the obvious one.

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Speaker 4: Number two. Determine your risk tolerance. What is your sleeplessness factor? Right,

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Speaker 4: what's that commercial sleepies? Like, what's your sleep number? What's

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Speaker 4: your sleeplessness factor? How much of a draw down can

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Speaker 4: you stand before you can't take it anymore and you

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Speaker 4: tap out?

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Speaker 5: Ian? What is your sleepless number? Fifty five percent? Sixty

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Speaker 5: five fifty five, fifty five percent? Yeah, what about you

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Speaker 5: guys sleepless As far as like the draw down, like, yeah,

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Speaker 5: I can't take it anymore. Draw down is more conservative.

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Speaker 4: So like.

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Speaker 3: What you said, twenty yeah, I had to This is

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Speaker 3: I'm glad you put that because it's something that I

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Speaker 3: actually had to figure out for myself. I've seen draw

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Speaker 3: downs go seventy percent. I'm like, what am I doing?

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Speaker 3: So then I had to implement a plan. So now

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Speaker 3: it is around that fifty five to sixty range. If

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Speaker 3: it gets there, it's like, all right, done, this didn't

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Speaker 3: go right. Let's go back to the drawing board and

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Speaker 3: figure out what we did wrong. Yeah, also too really quick.

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Speaker 6: I think people have to figure out what the tolerance

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Speaker 6: is for missing out. I don't know if you got

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Speaker 6: to sit sort of report, but if you invested in

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Speaker 6: home Depot after compounding, you'll be up a million percent

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Speaker 6: from nineteen eighty one. So like we have to also

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Speaker 6: determine if you miss out for seven years, if you

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Speaker 6: miss AMD for seven years on video for seven years,

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Speaker 6: what is that going to cost? So not only factoring

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Speaker 6: a draw down, but how much you're going to miss

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Speaker 6: out on the upside as well.

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Speaker 5: Right, that's a great that's a great point. And people

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Speaker 5: don't do that math. Right, Well, what's the.

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Speaker 7: Bullet proof number that you need in liquid and liquid

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Speaker 7: investible assets to become bulletproof?

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Speaker 2: Do you think?

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Speaker 5: I love this talk?

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Speaker 4: It depends on who you are and how much it

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Speaker 4: costs to be you ultimately.

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Speaker 7: I mean, you live in New York, you live in Manhattan,

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Speaker 7: so you know we have somemilar type of lifestyles you

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Speaker 7: personally or your circle.

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Speaker 4: What's my bulletproof number where I need to be liquid enough. Yeah,

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Speaker 4: probably about a million bucks, that's it.

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Speaker 5: And yeah, probably more way expensive.

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Speaker 3: I'm about to say, kid, but you riding a skateboard.

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Speaker 7: I mean what I mean when I mean bullet but

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Speaker 7: I mean bulletproof. I mean, like, you know, right right

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Speaker 7: right off into the sunset. Like I could just be, oh, okay, tomorrow,

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Speaker 7: live off investments.

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Speaker 4: That's seven to eight seven eight mil. I can live

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Speaker 4: I can live off that. Okay, okay, I can definitely live.

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Speaker 5: Off that number.

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Speaker 4: But it would not be in this town out in

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Speaker 4: New Mexico or I'm actually from.

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Speaker 3: We're packing a skateboard up.

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Speaker 4: Well, that's right, that's right, we're riding west. So so again,

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Speaker 4: determine your risk tolerance. That's number two, and you mentioned it, Troy.

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Speaker 4: It's like, what's your draw down? Remember this, A thirty

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Speaker 4: five percent draw down requires a fifty percent gain to

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Speaker 4: get you back to par right, a fifty percent draw down,

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Speaker 4: Now you're talking about one hundred percent. So as you

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Speaker 4: get deeper into the draw down, it takes a lot

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Speaker 4: more to get you back. I remember we had Kathy

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Speaker 4: Wood and invest Best, you know, last August, and who's terrific,

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Speaker 4: but that fun was down something like seventy five percent.

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Speaker 4: It's made a comeback, but it's still got a ways

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Speaker 4: to go right to get back to par. But you

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Speaker 4: could buy it at different levels an average and dollar

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Speaker 4: cost average away and all right, number three, know what

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Speaker 4: you own, and I know ian you really believe in

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Speaker 4: this as well. You asked me about what index funds

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Speaker 4: and ETFs I invest in. I invest in those that

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Speaker 4: I think are around sectors that I think are going

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Speaker 4: to continue to grow and be important over time. But

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Speaker 4: you have to unpack the ETF or the index fund

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Speaker 4: to see what it actually in it. And knowing what

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Speaker 4: you own, whether that's an individual stock or an ETF

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Speaker 4: or an index fund or a bond or whatever it is,

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Speaker 4: is critically important to make sure you believe in it

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Speaker 4: for one, and b to understand the financials behind it,

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Speaker 4: because if the balance it ain't right, it doesn't matter

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Speaker 4: how attractive it is, or how much you like the

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Speaker 4: CEO or how cool the product is. If you don't

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Speaker 4: know what your own, you don't really understand what you're

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Speaker 4: investing in.

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Speaker 2: I agree.

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Speaker 4: Number four, and we talked about this earlier. Taming your

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Speaker 4: animal spirits shutting your mind.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy Nohm, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will find nearly one

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Speaker 1: thousand dollars a day imprisoned and deported. You will never return.

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Speaker 1: But if you register using our CBP home app and

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Speaker 1: leave now, you could be allowed to return legally. Do

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Speaker 1: what's right. Leave now. Under President Trump America's laws, border

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Speaker 1: and families will.

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Speaker 2: Be protected sponsored by the United States Department of Homeland Security.

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Speaker 4: Up right, because they will tell you to run when

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Speaker 4: it's time to stay. They'll tell you to be greedy

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Speaker 4: when it's time to be fearful. I'll tell you to

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Speaker 4: be fearful when it's time to be greedy. So taming

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Speaker 4: them and actually having the plan, because I can't tell

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Speaker 4: you how many times in twenty twenty two, and I'm experienced,

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Speaker 4: I was like, I gotta get I gotta get out.

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Speaker 5: I got I can't take it. I can. I'm glad

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Speaker 5: I didn't.

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Speaker 4: Right, Yeah, I'm back way beyond where I was in

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Speaker 4: twenty twenty two in my own portfolio, because what did

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Speaker 4: I do? I didn't jump out. Instead, I said, let's reassess,

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Speaker 4: let's sector rotate a little bit, let's trim some positions. Here,

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Speaker 4: did a little tax loss harvesting, and then let's dollar

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Speaker 4: cost average into the things that I believe in. The

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Speaker 4: things that I believe in, which were the cues, which

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Speaker 4: were the semis. Those are more than double this year.

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Speaker 4: So you know, being able to actually tell your tame

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Speaker 4: your mind is super important.

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Speaker 5: That's it though, Yeah, what's that? How do you shut

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Speaker 5: it off? Yeah?

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Speaker 4: You when you go to reach that sell button, you

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Speaker 4: have an electric shock that sends a shockwave through your

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Speaker 4: arm into your brain that says, don't do it.

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Speaker 5: No, it's actually having the plan.

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Speaker 4: And in my case, I also have a financial advisor,

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Speaker 4: so I have my own portfolio that I do stuff with,

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Speaker 4: and then I have the big pile that they helped

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Speaker 4: me manage. And we actually had a lot of conversations

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Speaker 4: about it. So every time I was tempted and got

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Speaker 4: them on the phone, they'd be like, remember, we actually

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Speaker 4: have a plan, so you can do this, but this

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Speaker 4: is the ultimate consequence of this if it doesn't go

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Speaker 4: the way you want it to. So having that understanding

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Speaker 4: and that education and professional advice was super important for me.

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Speaker 4: But I've also been burned so many times. I've been

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Speaker 4: on the show we talked about my worst mistakes, and

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Speaker 4: my worst mistake was Lehman Brothers buying it in, buying

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Speaker 4: it at fifty, buying it at twenty, buying it at nine,

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Speaker 4: buying it at two, and then ultimately losing ten thousand

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Speaker 4: dollars when I was like thirty two years old and

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Speaker 4: I couldn't afford it.

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Speaker 5: That hurt. So I got the scars to prove it.

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Speaker 2: Do you do?

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Speaker 3: You have the button as well on the upside, because

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Speaker 3: I mean I've even experienced and I'm sure Ian's experience

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Speaker 3: as well. Well, you're watching a company that you had

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Speaker 3: in your portfolio and your watch list, you will wait

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Speaker 3: and you will waiting. I know Chipotle was one of

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Speaker 3: those for me. Even some meta this year, you're watching

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Speaker 3: it like, oh, it's at all time high.

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Speaker 2: Don't I'm gonna do it. I'm gonna do it.

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Speaker 3: No, my my intelligence, my experience, my talent tells me,

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Speaker 3: wait for a pullback, wait for it to come down.

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Speaker 3: What is my target number?

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Speaker 4: Yeah, you have to have the target numbers. And then

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Speaker 4: once you buy something, I always like to put the

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Speaker 4: stops in and the limits in, just because it'll get

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Speaker 4: me to stop making bad decisions. So once I put

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Speaker 4: that stop or limited and I'm like, it's there.

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Speaker 3: Yeah, that's so that's a new Apple fee job. Like

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Speaker 3: anytime you do something like a handjester, like a thumbs up,

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Speaker 3: it'll put that up. So you just probably put the

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Speaker 3: hands up a celebration. Yeah, no, you got to hold.

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Speaker 3: If you hold your thumb up, it'll put a thumb

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Speaker 3: like that.

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Speaker 5: Yeah yeah, oh I like that. Yeah.

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Speaker 4: So you know those will help you. Those will help

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Speaker 4: guide you. Now, I can always adjust it. If I'm

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Speaker 4: like I put the stop, I stopped out over here,

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Speaker 4: but I feel like there's still momentum, then I can

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Speaker 4: raise it a little bit. But I make the conscious decision.

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Speaker 4: And you know, professional traders and I'm not one of them,

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Speaker 4: but I actually use some of the Some of the

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Speaker 4: tools is you make that note to yourself on this day,

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Speaker 4: I raise my stop because I felt like there was

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Speaker 4: more momentum.

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Speaker 5: Why did I do that? This is what I was

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Speaker 5: thinking at the time.

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Speaker 4: I want to be able to refer to that so

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Speaker 4: when I look later, I say, why did I actually

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Speaker 4: make that decision? There's a record of it. It's important

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Speaker 4: to actually have that journal. All right, set it, but

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Speaker 4: don't forget it rule number five. People always say, uh,

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Speaker 4: you know, no, don't look at your four to one K.

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Speaker 4: Don't look at your brokerage account. That's BS.

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Speaker 5: Look at it. It's yours. It's your money.

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Speaker 4: So don't look at it obsessively, don't look at it

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Speaker 4: every hour, don't look at it in the middle of

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Speaker 4: a market crash. But it's okay to look at it.

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Speaker 4: Look at it, know what's going on. It's your money.

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Speaker 4: You should If you want to just be an index

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Speaker 4: investor and set it and let it go, that's fine.

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Speaker 4: But make sure you're looking at it at least two

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Speaker 4: or three times a year, definitely quarterly, and definitely right

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Speaker 4: at this time of year if you're only going to

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Speaker 4: look at it annually, to make sure that you are

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Speaker 4: comfortable with what you have.

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Speaker 5: Right.

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Speaker 4: Regimes have changed, sectors have rotated, The stock market is

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Speaker 4: in a big rally mode right now. Are you still

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Speaker 4: sitting back in the oil and gas stocks from twenty

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Speaker 4: twenty two?

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Speaker 5: I know I'm not.

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Speaker 4: But the things that did well last year aren't going

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Speaker 4: to do well now, right, So know what's in it,

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Speaker 4: make sure you're comfortable with it, rebalance it right.

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Speaker 5: That's really important.

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Speaker 4: So anybody that tells you, don't look, don't look look,

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Speaker 4: it's yours. It's yours to look at, it's yours to manage.

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Speaker 4: It's your money. You're the CEO of your own money.

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Speaker 4: It's your responsibility. Last one, be a tax smart investor,

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Speaker 4: especially this time of year. Right, if you got losses,

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Speaker 4: tax loss harvest, use those losses to offset your income tax, right,

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Speaker 4: your tax penalty.

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Speaker 5: But also think about it.

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Speaker 4: You shouldn't trade in your four to one K because

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Speaker 4: that triggers taxes. Right, you shouldn't trade your roth ira.

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Speaker 4: You can keep adding to it because that triggers taxes.

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Speaker 4: Think about what you're buying. If you're buying things like unifunds,

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Speaker 4: that's a tax advantage product. If you're thinking about what

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Speaker 4: to start, you know roth ira IRA s set account

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Speaker 4: like what's the most tax advantage account that you could

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Speaker 4: put your money in. So, taxes are a big part

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Speaker 4: of investing your shot. You notice you're a financial advisor.

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Speaker 4: People don't realize that. And when people trade a lot,

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Speaker 4: they hyper trade, they're generating taxes. Also, those long term gain,

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Speaker 4: those long term capital gains or their short term capital gains,

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Speaker 4: those eat away your returns over time. So we tax

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Speaker 4: smart about it, and don't just think that it has

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Speaker 4: no You have no consequences on the tax runt.

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Speaker 5: You always do and you have to be aware of those.

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Speaker 5: Those are my six Golden rules.

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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

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Speaker 1: used of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland security,