Choosefi | Financial Independence Podcast For The Stealth Wealth Community

034R | In today's podcast we discuss our thoughts on Part 2 of the Stock Series conversation with JL Collins, risk tolerance, doomsday scenarios and rebalancing. In Today’s Podcast we cover: The Friday Roundup and the episode Part 2 of our discussion with JL Collins from The Simple Path to Wealth and JLCollinsNH What do you do when there’s a large crash in the stock market? Big takeaway from Jim’s episode You can’t sell at the bottom, so you need to steel yourself mentally beforehand If you’re starting investing, one of the best thing that can happen to you is a market crash You can’t time the market There are doomsday scenarios, but since they are so rare it is silly to plan for the absolute worst case and ignore the other 99.9% likelihood Follow the math when making the best decision with the information at hand Question from Kevin about when to “take all your chips off the table” That event would have to be extraordinary and destructive for our country and economy Spend less than you earn and invest in bro