Highlights of today’s show:
- Guest Steve Stewart joins us to discuss the S&P 500 History
- The stock market has an excellent track record of long term success
- How do you develop that long term mindset?
- The Facebook IPO has not yet set the world on fire
- Chris Guillebeau’s $100 Startup book tour recap
Steve Stewart from Moneyplansos.com joins me on the show to discuss investing over the long run. Before you listen to the episode, please download the spreadsheet Steve created showing the 1, 3, 5, 10, and 20 year average returns of the S&P 500. While this is not a predictor of what the stock market will do in the future, Steve and I discuss why we are able to invest and not panic whenever the stock market drops 5% in one week and why we have a long term mindset when investing.
We also discuss a little bit about the Facebook IPO and the potential dangers of owning single stocks. Facebook stock will probably end up being a good investment in the long haul, but those trying to cash in after one week were sorely disappointed.
In addition Steve put together a wonderful video on his site showing the power of compound interest.
Finally, I recap Chris Guillebeau’s $100 Startup* book tour stop he made recently in Columbus, Ohio. I have not yet had the chance to start the book, but I am really excited to read it after listening to him share why he wrote it. Chris wrote the book after interviewing hundreds of successful entrepreneurs. It got me thinking about who I am learning about success from. Am I learning about success from people who are successful in areas I am trying to be successful in? Or am I learning about success from people who are not really successful and just have an opinion?
* Affiliate Link
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