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What Are Mutual Funds & ETFs: Your Easy Button for Diversification? · Becoming Financially Confident

• 0:38
  You
• 0:38
  ever
• 0:38
  search
• 0:38
  for
• 0:38
  that
• 0:38
  easy
• 0:39
  way
• 0:39
  to
• 0:39
  invest?
• 0:40
  I
• 0:41
  was
• 0:41
  thinking
• 0:41
  about
• 0:41
  as
• 0:41
  I
• 0:42
  was
• 0:42
  preparing
• 0:42
  for
• 0:42
  the
• 0:42
  show
• 0:42
  today,
• 0:43
  that
• 0:44
  Staples
• 0:44
  button,
• 0:44
  you
• 0:45
  remember
• 0:45
  that
• 0:45
  thing
• 0:45
  from
• 0:45
  a
• 0:45
  few
• 0:46
  years
• 0:46
  back,
• 0:46
  it
• 0:46
  just
• 0:46
  said
• 0:47
  easy
• 0:47
  on
• 0:47
  it.
• 0:47
  You
• 0:48
  press
• 0:48
  the
• 0:48
  button,
• 0:49
  well,
• 0:49
  what
• 0:49
  if
• 0:50
  investing
• 0:50
  could
• 0:50
  be
• 0:51
  just
• 0:51
  like
• 0:51
  that?
• 0:52
  And
• 0:52
  I
• 0:53
  got
• 0:53
  a
• 0:53
  great
• 0:53
  listener
• 0:54
  question.
• 0:54
  And
• 0:54
  it's
• 0:54
  what
• 0:55
  the
• 0:55
  listener
• 0:55
  said.
• 0:55
  She
• 0:55
  said,
• 0:55
  Ralph,
• 0:56
  I
• 0:56
  really
• 0:56
  don't
• 0:57
  understand
• 0:57
  mutual
• 0:58
  funds
• 0:58
  and
• 0:58
  ETFs.
• 0:59
  Everyone
• 1:00
  talks
• 1:00
  about
• 1:00
  them,
• 1:01
  but
• 1:01
  they
• 1:01
  sound
• 1:02
  complicated.
• 1:03
  Are
• 1:03
  they
• 1:03
  actually
• 1:04
  worth
• 1:04
  it?
• 1:05
  And
• 1:05
  I
• 1:05
  thought
• 1:05
  to
• 1:06
  myself,
• 1:06
  that
• 1:06
  is
• 1:06
  a
• 1:06
  truly
• 1:07
  great
• 1:07
  question.
• 1:08
  And
• 1:08
  I'm
• 1:09
  gonna
• 1:09
  talk
• 1:09
  about
• 1:09
  fees
• 1:09
  later
• 1:10
  on
• 1:10
  because
• 1:10
  there
• 1:10
  are
• 1:10
  some
• 1:11
  fee
• 1:11
  considerations
• 1:12
  with
• 1:12
  this.
• 1:13
  But
• 1:13
  that's
• 1:13
  exactly
• 1:14
  what
• 1:14
  I
• 1:14
  want
• 1:14
  to
• 1:14
  talk
• 1:14
  about
• 1:15
  on
• 1:15
  today's
• 1:15
  show.
• 1:15
  I
• 1:15
  want
• 1:15
  to
• 1:16
  talk
• 1:16
  about
• 1:16
  mutual
• 1:17
  funds
• 1:17
  and
• 1:17
  ETFs,
• 1:18
  because
• 1:19
  if
• 1:19
  you're
• 1:19
  looking
• 1:19
  for
• 1:19
  an
• 1:19
  easy
• 1:20
  way
• 1:20
  to
• 1:20
  invest,
• 1:21
  this
• 1:21
  is
• 1:21
  really
• 1:22
  a
• 1:22
  great
• 1:22
  way
• 1:22
  to
• 1:22
  get
• 1:23
  started.
• 1:23
  Let's
• 1:23
  cover
• 1:23
  that
• 1:23
  on
• 1:24
  today's
• 1:24
  show.
• 1:26
  This
• 1:26
  is
• 1:26
  Financially
• 1:27
  Confident
• 1:27
  Christian,
• 1:28
  your
• 1:28
  daily
• 1:29
  dose
• 1:29
  of
• 1:29
  gospel,
• 1:30
  grounded
• 1:30
  insight
• 1:30
  and
• 1:31
  faith
• 1:31
  driven
• 1:31
  tips
• 1:32
  to
• 1:32
  to
• 1:32
  help
• 1:32
  you
• 1:33
  break
• 1:33
  the
• 1:33
  cycle
• 1:33
  of
• 1:33
  financial
• 1:34
  shame
• 1:34
  with
• 1:34
  confidence.
• 1:37
  Hello
• 1:38
  there.
• 1:38
  Welcome
• 1:38
  to
• 1:39
  Financially
• 1:39
  Confident
• 1:40
  Christian.
• 1:40
  I'm
• 1:41
  Ralph
• 1:41
  and
• 1:42
  I'm
• 1:42
  so
• 1:42
  happy
• 1:42
  that
• 1:42
  you've
• 1:43
  chosen
• 1:43
  to
• 1:43
  join
• 1:43
  me
• 1:43
  today.
• 1:44
  The
• 1:45
  truth
• 1:45
  is,
• 1:45
  mutual
• 1:46
  funds
• 1:46
  and
• 1:46
  ETFs
• 1:47
  are
• 1:47
  just
• 1:47
  not
• 1:47
  as
• 1:48
  complicated
• 1:48
  as
• 1:48
  they
• 1:48
  may
• 1:49
  seem.
• 1:50
  In
• 1:50
  fact,
• 1:51
  a
• 1:51
  lot
• 1:51
  of
• 1:51
  people
• 1:52
  feel
• 1:52
  overwhelmed
• 1:53
  when
• 1:54
  it
• 1:54
  comes
• 1:54
  to
• 1:54
  investing.
• 1:55
  And
• 1:55
  that's
• 1:55
  why
• 1:55
  I
• 1:56
  decided
• 1:56
  to
• 1:56
  do
• 1:56
  this
• 1:56
  30
• 1:57
  day
• 1:57
  series.
• 1:57
  Because
• 1:57
  I
• 1:58
  said
• 1:58
  there
• 1:58
  are
• 1:58
  so
• 1:58
  many
• 1:59
  people
• 1:59
  that,
• 1:59
  that
• 2:00
  would
• 2:00
  benefit
• 2:01
  from
• 2:01
  learning
• 2:01
  how
• 2:02
  just
• 2:02
  even
• 2:02
  if
• 2:02
  it's
• 2:03
  just
• 2:03
  basic
• 2:04
  pieces
• 2:04
  of
• 2:04
  investing.
• 2:06
  Because
• 2:06
  so
• 2:06
  many
• 2:06
  people
• 2:07
  feel
• 2:07
  overwhelmed
• 2:07
  as
• 2:08
  soon
• 2:08
  as
• 2:08
  you
• 2:08
  use
• 2:08
  the
• 2:08
  word
• 2:09
  investing.
• 2:09
  I've
• 2:10
  heard
• 2:10
  it
• 2:10
  so
• 2:10
  many
• 2:11
  times
• 2:11
  in
• 2:11
  my
• 2:11
  practice,
• 2:11
  Ralph.
• 2:12
  As
• 2:12
  soon
• 2:12
  as
• 2:12
  you
• 2:13
  say
• 2:13
  that,
• 2:13
  I
• 2:13
  feel
• 2:14
  completely
• 2:14
  overwhelmed.
• 2:16
  But
• 2:16
  the
• 2:16
  cool
• 2:16
  thing
• 2:17
  is
• 2:17
  these
• 2:18
  mutual
• 2:18
  funds
• 2:18
  and
• 2:19
  ETFs,
• 2:19
  in
• 2:19
  a
• 2:20
  lot
• 2:20
  of
• 2:20
  ways
• 2:21
  they
• 2:21
  may
• 2:21
  just
• 2:22
  reduce
• 2:22
  that
• 2:22
  over
• 2:22
  them
• 2:23
  and
• 2:23
  they
• 2:23
  could
• 2:23
  be
• 2:23
  as
• 2:24
  simple
• 2:24
  as
• 2:24
  that.
• 2:24
  Easy
• 2:24
  button.
• 2:26
  And
• 2:26
  I've
• 2:26
  spent
• 2:26
  30
• 2:27
  years,
• 2:27
  it's
• 2:27
  hard
• 2:27
  to
• 2:27
  believe
• 2:28
  when
• 2:28
  I
• 2:28
  think
• 2:28
  about
• 2:28
  it.
• 2:29
  I
• 2:29
  spent
• 2:30
  30
• 2:30
  years
• 2:30
  working
• 2:31
  with
• 2:31
  people
• 2:32
  trying
• 2:32
  to
• 2:33
  help
• 2:33
  people
• 2:33
  just
• 2:33
  like
• 2:34
  you
• 2:35
  break
• 2:35
  that
• 2:35
  financial
• 2:36
  shame
• 2:36
  that
• 2:36
  comes
• 2:37
  along
• 2:37
  with
• 2:37
  bad
• 2:38
  financial
• 2:38
  decisions.
• 2:39
  And
• 2:39
  in
• 2:39
  so
• 2:39
  many
• 2:39
  ways,
• 2:40
  a
• 2:41
  lot
• 2:41
  of
• 2:41
  times
• 2:41
  it's
• 2:42
  just
• 2:42
  a
• 2:42
  function
• 2:43
  of
• 2:43
  not
• 2:43
  understanding.
• 2:44
  So
• 2:44
  you
• 2:44
  just
• 2:44
  need
• 2:44
  to
• 2:44
  be
• 2:45
  educated
• 2:45
  on
• 2:45
  this
• 2:46
  thing.
• 2:46
  And
• 2:46
  that's
• 2:46
  the
• 2:46
  whole
• 2:46
  reason
• 2:47
  that
• 2:47
  I
• 2:47
  started
• 2:47
  this
• 2:48
  show.
• 2:48
  It's
• 2:49
  all
• 2:49
  about
• 2:49
  how
• 2:49
  to
• 2:49
  become
• 2:50
  a
• 2:50
  financially
• 2:50
  confident
• 2:51
  Christian.
• 2:51
  And
• 2:51
  I
• 2:52
  did
• 2:52
  that
• 2:53
  because
• 2:53
  my
• 2:53
  goal
• 2:54
  at
• 2:54
  the
• 2:54
  very
• 2:54
  onset
• 2:55
  of
• 2:55
  this
• 2:56
  was
• 2:56
  to
• 2:56
  give
• 2:56
  you
• 2:57
  the
• 2:57
  tools
• 2:57
  to
• 2:58
  make
• 2:58
  better
• 2:58
  financial
• 2:59
  decisions.
• 3:00
  And
• 3:00
  the
• 3:00
  thing
• 3:01
  is,
• 3:01
  most
• 3:01
  people
• 3:01
  don't
• 3:02
  understand
• 3:03
  that
• 3:03
  Mutual
• 3:04
  funds
• 3:04
  and
• 3:05
  these
• 3:05
  EFTs,
• 3:06
  they've
• 3:06
  already
• 3:06
  investing
• 3:07
  in
• 3:07
  them.
• 3:07
  If
• 3:08
  you've
• 3:08
  cut
• 3:08
  a
• 3:09
  retirement
• 3:09
  plan
• 3:09
  at
• 3:10
  work
• 3:10
  or
• 3:10
  you've
• 3:10
  got
• 3:10
  a
• 3:10
  401k
• 3:11
  or
• 3:12
  403b
• 3:13
  or
• 3:13
  457b,
• 3:14
  they're
• 3:14
  all
• 3:14
  these
• 3:14
  type
• 3:15
  of
• 3:15
  things,
• 3:15
  or
• 3:15
  an
• 3:15
  IRA.
• 3:16
  Oftentimes
• 3:18
  you'll,
• 3:18
  your
• 3:18
  broker
• 3:19
  is
• 3:19
  investing
• 3:19
  in
• 3:19
  mutual
• 3:20
  funds
• 3:21
  because
• 3:21
  you're
• 3:21
  not
• 3:22
  investing
• 3:22
  in
• 3:22
  that
• 3:23
  one
• 3:23
  individual
• 3:24
  stock.
• 3:24
  It's
• 3:24
  almost
• 3:24
  like
• 3:25
  a
• 3:25
  gamble
• 3:25
  if
• 3:25
  you
• 3:25
  think
• 3:25
  about
• 3:26
  it.
• 3:26
  When
• 3:26
  you're
• 3:27
  investing
• 3:27
  in
• 3:27
  that
• 3:28
  one
• 3:28
  individual
• 3:29
  stock,
• 3:29
  you
• 3:30
  better
• 3:30
  hope
• 3:30
  you
• 3:30
  understand
• 3:31
  what
• 3:31
  you're
• 3:31
  investing
• 3:31
  in.
• 3:32
  And
• 3:33
  I'm
• 3:33
  telling
• 3:33
  you
• 3:33
  right
• 3:33
  now,
• 3:33
  this
• 3:34
  is
• 3:34
  the
• 3:34
  truth.
• 3:34
  This
• 3:34
  is
• 3:35
  brutal
• 3:35
  honesty.
• 3:36
  I've
• 3:36
  avoided
• 3:37
  these
• 3:37
  things
• 3:37
  myself
• 3:38
  for
• 3:38
  so
• 3:38
  many
• 3:38
  years.
• 3:38
  I'll
• 3:38
  never
• 3:39
  forget
• 3:39
  my
• 3:39
  oldest
• 3:40
  son
• 3:40
  called
• 3:40
  me
• 3:40
  one
• 3:40
  day
• 3:40
  and
• 3:40
  he
• 3:41
  said,
• 3:41
  dad,
• 3:41
  I'm
• 3:42
  thinking
• 3:42
  about
• 3:42
  investing
• 3:42
  in
• 3:43
  ETFs
• 3:44
  now.
• 3:44
  Of
• 3:44
  course,
• 3:44
  I
• 3:45
  didn't
• 3:45
  want
• 3:45
  to
• 3:45
  sound
• 3:45
  like
• 3:45
  an
• 3:45
  idiot
• 3:46
  when
• 3:46
  it
• 3:46
  came
• 3:46
  to
• 3:46
  my
• 3:46
  son's.
• 3:47
  I'm,
• 3:47
  oh,
• 3:47
  yeah,
• 3:47
  that's
• 3:47
  a
• 3:47
  great
• 3:47
  idea,
• 3:48
  son.
• 3:48
  I
• 3:48
  had
• 3:49
  absolutely
• 3:49
  no
• 3:49
  idea
• 3:50
  what
• 3:50
  he
• 3:50
  was
• 3:50
  talking
• 3:50
  about.
• 3:51
  So
• 3:51
  as
• 3:52
  soon
• 3:52
  as
• 3:52
  we
• 3:52
  hung
• 3:52
  up
• 3:52
  the
• 3:53
  phone,
• 3:53
  I
• 3:53
  got
• 3:53
  online,
• 3:54
  I
• 3:54
  started
• 3:54
  researching
• 3:55
  these
• 3:55
  things
• 3:56
  and
• 3:56
  I
• 3:56
  had
• 3:57
  to
• 3:57
  learn
• 3:57
  about
• 3:57
  them.
• 3:57
  And
• 3:57
  that's
• 3:58
  what
• 3:58
  I
• 3:58
  wanted
• 3:58
  to
• 3:58
  convey
• 3:58
  to
• 3:59
  you
• 3:59
  today.
• 3:59
  What
• 3:59
  are
• 4:00
  we
• 4:00
  talking
• 4:00
  about
• 4:00
  today?
• 4:00
  I'm
• 4:00
  going
• 4:01
  to
• 4:01
  make
• 4:01
  it
• 4:01
  really
• 4:01
  simple.
• 4:01
  I
• 4:02
  want
• 4:02
  to
• 4:02
  simplify
• 4:02
  this
• 4:03
  so
• 4:03
  that
• 4:03
  you
• 4:03
  can
• 4:04
  understand
• 4:04
  this,
• 4:04
  so
• 4:05
  that
• 4:05
  you
• 4:05
  can
• 4:05
  put
• 4:05
  these
• 4:05
  things
• 4:06
  to
• 4:06
  work.
• 4:06
  And
• 4:07
  I
• 4:07
  found
• 4:07
  this
• 4:07
  quote
• 4:07
  as
• 4:07
  we're
• 4:08
  preparing
• 4:08
  for
• 4:08
  today's
• 4:08
  show.
• 4:09
  It's
• 4:09
  from
• 4:09
  Jack
• 4:10
  Bogle.
• 4:10
  Now,
• 4:11
  Jack
• 4:11
  is
• 4:11
  the
• 4:11
  founder
• 4:12
  of
• 4:12
  Vanguard,
• 4:13
  and
• 4:13
  he
• 4:13
  famously
• 4:14
  said
• 4:14
  this.
• 4:15
  He
• 4:15
  said,
• 4:16
  don't
• 4:16
  look
• 4:16
  for
• 4:16
  the
• 4:16
  needle
• 4:17
  in
• 4:17
  the
• 4:17
  haystack,
• 4:18
  just
• 4:19
  buy
• 4:19
  the
• 4:19
  haystack.
• 4:20
  And
• 4:20
  in
• 4:21
  a
• 4:21
  lot
• 4:21
  of
• 4:21
  ways,
• 4:21
  these
• 4:22
  mutual
• 4:22
  funds
• 4:22
  and
• 4:22
  ETFs,
• 4:23
  that's
• 4:23
  exactly
• 4:24
  what
• 4:24
  they
• 4:24
  are.
• 4:24
  They're
• 4:25
  the
• 4:25
  haystack.
• 4:26
  One
• 4:27
  of
• 4:27
  the
• 4:27
  things
• 4:27
  that
• 4:27
  these
• 4:27
  things
• 4:28
  do.
• 4:29
  And
• 4:29
  honestly,
• 4:30
  that
• 4:30
  quote
• 4:30
  from
• 4:31
  Jack
• 4:32
  really
• 4:32
  captures
• 4:33
  what
• 4:33
  these
• 4:33
  mutual
• 4:34
  funds
• 4:34
  and
• 4:34
  ETFs
• 4:35
  do.
• 4:36
  Because
• 4:36
  instead
• 4:36
  of
• 4:37
  guessing,
• 4:37
  you're
• 4:38
  not
• 4:38
  trying
• 4:38
  to
• 4:38
  bet
• 4:38
  on
• 4:38
  winners.
• 4:39
  You
• 4:39
  ever
• 4:40
  had
• 4:40
  that
• 4:40
  friend
• 4:40
  at
• 4:40
  work
• 4:40
  that
• 4:41
  says,
• 4:41
  hey,
• 4:41
  Ralph,
• 4:41
  I
• 4:41
  got
• 4:41
  a
• 4:42
  sure
• 4:42
  bet
• 4:42
  in
• 4:42
  the
• 4:42
  market,
• 4:44
  but
• 4:44
  these
• 4:44
  ETFs
• 4:45
  and
• 4:45
  mutual
• 4:46
  funds
• 4:47
  are
• 4:47
  really
• 4:47
  allowing
• 4:48
  you
• 4:48
  to
• 4:48
  buy
• 4:48
  that
• 4:48
  basket.
• 4:49
  So
• 4:49
  you
• 4:49
  can
• 4:49
  get
• 4:49
  all
• 4:49
  the
• 4:49
  winners
• 4:50
  at
• 4:50
  the
• 4:50
  same
• 4:50
  time.
• 4:50
  And
• 4:50
  if
• 4:50
  you
• 4:51
  have
• 4:51
  a
• 4:51
  loser,
• 4:51
  I
• 4:51
  should
• 4:52
  say,
• 4:52
  you
• 4:52
  don't
• 4:52
  lose
• 4:52
  all
• 4:53
  your
• 4:53
  money.
• 4:53
  And
• 4:54
  it
• 4:54
  completely
• 4:54
  removes
• 4:55
  the
• 4:55
  guesswork.
• 4:55
  So
• 4:55
  let's
• 4:55
  talk
• 4:56
  about
• 4:56
  the
• 4:56
  basic
• 4:57
  principles
• 4:57
  of
• 4:58
  these
• 4:58
  things.
• 4:59
  A
• 4:59
  mutual
• 4:59
  fund.
• 4:59
  A
• 5:00
  lot
• 5:00
  of
• 5:00
  people
• 5:00
  hear
• 5:00
  the
• 5:00
  word
• 5:00
  mutual
• 5:01
  fund.
• 5:01
  They
• 5:01
  say,
• 5:01
  Ralph,
• 5:01
  you've
• 5:02
  already
• 5:02
  lost
• 5:02
  me.
• 5:03
  Don't
• 5:03
  get
• 5:03
  lost
• 5:04
  in
• 5:04
  this.
• 5:04
  Think
• 5:05
  about
• 5:05
  a
• 5:05
  pool.
• 5:06
  It's
• 5:06
  just
• 5:06
  a
• 5:06
  pool
• 5:07
  of
• 5:07
  investments.
• 5:07
  It's
• 5:08
  just
• 5:08
  when
• 5:08
  a
• 5:08
  bunch
• 5:09
  of
• 5:09
  different
• 5:09
  investments
• 5:10
  come
• 5:10
  together
• 5:10
  and
• 5:11
  they're
• 5:11
  managed
• 5:11
  by
• 5:12
  a
• 5:12
  professional.
• 5:13
  So
• 5:13
  if
• 5:13
  you
• 5:13
  think
• 5:13
  about
• 5:13
  it,
• 5:14
  these
• 5:15
  big
• 5:15
  Wall
• 5:16
  street
• 5:16
  executives
• 5:16
  have
• 5:17
  these
• 5:17
  folks
• 5:17
  that
• 5:17
  are
• 5:18
  money
• 5:18
  managers
• 5:19
  for
• 5:19
  them.
• 5:19
  Well,
• 5:20
  you
• 5:20
  can
• 5:20
  do
• 5:20
  the
• 5:20
  same
• 5:21
  thing
• 5:21
  by
• 5:21
  buying
• 5:21
  into
• 5:22
  a
• 5:22
  Mutual
• 5:22
  Fund
• 5:22
  or
• 5:23
  ETF.
• 5:23
  You
• 5:23
  basically
• 5:24
  have
• 5:24
  a
• 5:24
  professional
• 5:25
  manager.
• 5:26
  Now,
• 5:26
  ETFs
• 5:27
  are
• 5:27
  just
• 5:28
  about
• 5:28
  the
• 5:28
  same
• 5:29
  as
• 5:29
  that.
• 5:29
  Now,
• 5:29
  I'm
• 5:29
  not
• 5:29
  going
• 5:29
  to
• 5:30
  get
• 5:30
  into
• 5:30
  the
• 5:30
  weeds
• 5:30
  in
• 5:31
  this,
• 5:31
  but.
• 5:31
  But
• 5:31
  basically,
• 5:32
  an
• 5:32
  ETF
• 5:33
  is
• 5:33
  traded
• 5:34
  like
• 5:34
  a
• 5:34
  stock.
• 5:34
  It's
• 5:35
  sort
• 5:35
  of
• 5:35
  like
• 5:35
  a
• 5:35
  hybrid.
• 5:36
  So
• 5:36
  you
• 5:36
  can
• 5:36
  buy
• 5:37
  these
• 5:37
  ETFs
• 5:38
  and
• 5:38
  you
• 5:38
  can
• 5:38
  trade
• 5:39
  them
• 5:39
  just
• 5:39
  like
• 5:39
  you're
• 5:39
  on
• 5:39
  the
• 5:39
  stock
• 5:40
  market.
• 5:41
  Here's
• 5:41
  the
• 5:41
  most
• 5:41
  beautiful
• 5:42
  part
• 5:42
  of
• 5:42
  all
• 5:42
  of
• 5:42
  this,
• 5:43
  the
• 5:43
  reason
• 5:43
  that
• 5:43
  I'm
• 5:44
  really
• 5:44
  talking
• 5:44
  about
• 5:44
  this
• 5:45
  today.
• 5:45
  Both
• 5:46
  of
• 5:46
  these
• 5:46
  things
• 5:47
  provide
• 5:47
  instant
• 5:48
  diversification.
• 5:50
  One
• 5:50
  of
• 5:50
  the
• 5:50
  things
• 5:50
  you
• 5:51
  want
• 5:51
  to
• 5:51
  be
• 5:51
  careful
• 5:51
  of
• 5:51
  when
• 5:52
  you're
• 5:52
  investing
• 5:52
  in
• 5:53
  the
• 5:53
  market
• 5:53
  is
• 5:54
  you
• 5:54
  want
• 5:54
  to
• 5:54
  diversify
• 5:55
  your
• 5:55
  investments.
• 5:55
  You
• 5:55
  don't
• 5:55
  want
• 5:56
  to
• 5:56
  have
• 5:56
  all
• 5:56
  your
• 5:56
  eggs
• 5:57
  in
• 5:57
  one
• 5:57
  basket.
• 5:57
  I've
• 5:58
  had
• 5:58
  clients
• 5:58
  and
• 5:58
  been
• 5:59
  in
• 5:59
  that
• 5:59
  situation
• 6:00
  before
• 6:00
  because
• 6:00
  this
• 6:00
  is
• 6:00
  the
• 6:01
  key.
• 6:01
  You
• 6:02
  want
• 6:02
  to
• 6:02
  make
• 6:02
  sure
• 6:02
  they're
• 6:03
  diversified.
• 6:03
  So
• 6:04
  if,
• 6:04
  for
• 6:04
  example,
• 6:05
  one
• 6:05
  industry
• 6:06
  fails,
• 6:06
  and
• 6:06
  we're
• 6:06
  going
• 6:06
  to
• 6:07
  get
• 6:07
  into
• 6:07
  a
• 6:07
  little
• 6:07
  bit
• 6:07
  more
• 6:08
  details
• 6:08
  here
• 6:08
  in
• 6:08
  a
• 6:08
  few
• 6:08
  minutes,
• 6:09
  but
• 6:09
  if
• 6:09
  one
• 6:10
  industry
• 6:10
  fails
• 6:10
  or
• 6:11
  a
• 6:11
  particular
• 6:11
  company
• 6:12
  in
• 6:12
  that
• 6:12
  industry
• 6:12
  fails,
• 6:13
  you
• 6:13
  don't
• 6:14
  lose
• 6:14
  all
• 6:14
  your
• 6:14
  investment.
• 6:16
  And
• 6:16
  they
• 6:16
  also.
• 6:16
  These
• 6:17
  things
• 6:17
  are
• 6:17
  great
• 6:17
  because
• 6:17
  they
• 6:18
  reduce
• 6:18
  that
• 6:19
  pressure.
• 6:19
  So
• 6:19
  many
• 6:19
  people
• 6:20
  have
• 6:20
  said
• 6:20
  to
• 6:20
  me,
• 6:20
  Ralph,
• 6:21
  when
• 6:21
  it
• 6:21
  comes
• 6:21
  to
• 6:22
  investing,
• 6:23
  I
• 6:23
  feel
• 6:23
  this
• 6:23
  pressure
• 6:24
  on
• 6:24
  me.
• 6:24
  And
• 6:25
  listen,
• 6:25
  I
• 6:25
  felt
• 6:25
  that
• 6:25
  pressure,
• 6:26
  too.
• 6:26
  I've
• 6:26
  had
• 6:26
  people
• 6:26
  say
• 6:26
  to
• 6:27
  me,
• 6:27
  Ralph,
• 6:27
  what.
• 6:28
  What
• 6:28
  would
• 6:28
  you
• 6:28
  invest
• 6:28
  in?
• 6:28
  Now,
• 6:29
  I,
• 6:29
  as
• 6:29
  a
• 6:30
  practice,
• 6:30
  don't
• 6:31
  offer
• 6:31
  direct
• 6:32
  investment
• 6:32
  advice.
• 6:33
  I
• 6:33
  help
• 6:33
  people
• 6:34
  make
• 6:34
  investment
• 6:34
  decisions
• 6:35
  from
• 6:35
  the
• 6:35
  standpoint
• 6:36
  of
• 6:36
  deciding
• 6:36
  to
• 6:37
  invest,
• 6:37
  how
• 6:38
  much
• 6:38
  they
• 6:38
  should
• 6:38
  put
• 6:38
  into
• 6:38
  it.
• 6:39
  I
• 6:39
  talk
• 6:39
  about
• 6:39
  the
• 6:40
  tax
• 6:40
  impacts
• 6:40
  of
• 6:41
  that,
• 6:41
  but
• 6:41
  I
• 6:41
  don't
• 6:42
  get
• 6:42
  into
• 6:42
  picking
• 6:42
  winners
• 6:43
  and
• 6:43
  losers
• 6:43
  because
• 6:43
  there
• 6:43
  is
• 6:44
  a
• 6:44
  ton
• 6:44
  of
• 6:44
  pressure
• 6:44
  on
• 6:45
  that.
• 6:45
  And
• 6:46
  the
• 6:46
  thing
• 6:46
  I
• 6:46
  want
• 6:46
  you
• 6:46
  to
• 6:47
  remember
• 6:47
  right
• 6:47
  off
• 6:48
  the
• 6:48
  jump
• 6:48
  here,
• 6:48
  before
• 6:49
  we
• 6:49
  even
• 6:49
  move
• 6:49
  on
• 6:49
  at
• 6:50
  all,
• 6:51
  a
• 6:51
  lot
• 6:51
  of
• 6:51
  people
• 6:51
  have
• 6:51
  asked
• 6:52
  me,
• 6:52
  they
• 6:52
  said,
• 6:52
  Ralph,
• 6:52
  but
• 6:53
  if
• 6:53
  I
• 6:53
  invest
• 6:53
  in
• 6:53
  these,
• 6:53
  is
• 6:54
  there
• 6:54
  no
• 6:54
  risk?
• 6:56
  Yes,
• 6:56
  there's
• 6:56
  still
• 6:56
  risk.
• 6:57
  You're
• 6:57
  just
• 6:57
  not
• 6:57
  betting
• 6:58
  on
• 6:58
  one.
• 6:58
  So
• 6:58
  you're
• 6:59
  removing
• 6:59
  the
• 6:59
  gamble
• 7:00
  and
• 7:01
  you're
• 7:01
  removing
• 7:01
  that
• 7:01
  thing
• 7:02
  about,
• 7:02
  oh,
• 7:02
  I'm
• 7:02
  going
• 7:02
  to
• 7:02
  invest
• 7:02
  in
• 7:03
  these
• 7:03
  sure
• 7:03
  things
• 7:04
  because
• 7:04
  this
• 7:04
  thing's
• 7:05
  got
• 7:05
  to
• 7:05
  win
• 7:05
  for
• 7:05
  me.
• 7:06
  How
• 7:06
  many
• 7:06
  times
• 7:06
  have
• 7:07
  you
• 7:07
  heard
• 7:07
  that
• 7:07
  around
• 7:08
  you,
• 7:08
  that
• 7:08
  sure
• 7:09
  thing?
• 7:10
  Next
• 7:10
  thing
• 7:10
  you
• 7:10
  know,
• 7:10
  that
• 7:11
  stock's
• 7:11
  not
• 7:11
  Worth
• 7:11
  a
• 7:12
  thing.
• 7:12
  Well,
• 7:12
  let's
• 7:12
  go
• 7:12
  a
• 7:12
  little
• 7:12
  deeper
• 7:13
  now,
• 7:13
  because
• 7:13
  I
• 7:13
  wanted
• 7:13
  to
• 7:13
  just.
• 7:14
  I
• 7:14
  want
• 7:14
  to
• 7:14
  scratch
• 7:14
  the
• 7:15
  surface
• 7:15
  there
• 7:15
  for
• 7:15
  a
• 7:15
  second,
• 7:15
  but
• 7:16
  now
• 7:16
  I
• 7:16
  want
• 7:16
  to
• 7:16
  go
• 7:16
  a
• 7:16
  little
• 7:16
  deeper
• 7:17
  into
• 7:17
  this.
• 7:18
  Mutual
• 7:18
  funds
• 7:19
  are
• 7:19
  basically
• 7:20
  a
• 7:20
  weight
• 7:20
  that
• 7:21
  you
• 7:21
  can
• 7:21
  gather
• 7:21
  money
• 7:22
  for
• 7:22
  from
• 7:22
  many
• 7:23
  investors.
• 7:23
  So
• 7:23
  that's
• 7:24
  basically
• 7:24
  what
• 7:24
  a
• 7:24
  mutual
• 7:24
  fund
• 7:24
  is.
• 7:25
  Mutual
• 7:25
  fund
• 7:25
  goes
• 7:25
  out
• 7:26
  into
• 7:26
  the
• 7:26
  market
• 7:26
  and
• 7:27
  they
• 7:27
  say,
• 7:27
  hey,
• 7:27
  we've
• 7:28
  got
• 7:28
  this
• 7:28
  fund.
• 7:28
  This
• 7:29
  is
• 7:29
  our
• 7:29
  principle.
• 7:30
  This
• 7:30
  is
• 7:30
  our
• 7:30
  prospectus
• 7:31
  of
• 7:31
  what
• 7:31
  we're
• 7:31
  going
• 7:31
  to
• 7:31
  do.
• 7:31
  This
• 7:32
  is
• 7:32
  the
• 7:32
  idea
• 7:32
  that
• 7:33
  we
• 7:33
  have
• 7:33
  behind
• 7:33
  it.
• 7:33
  A
• 7:33
  money
• 7:33
  manager
• 7:34
  usually
• 7:35
  manages
• 7:35
  that,
• 7:36
  and
• 7:36
  they
• 7:36
  buy
• 7:36
  a
• 7:36
  mix
• 7:37
  of
• 7:37
  stocks,
• 7:37
  they
• 7:37
  buy
• 7:38
  a
• 7:38
  mix
• 7:38
  of
• 7:38
  bonds,
• 7:38
  all
• 7:38
  different
• 7:39
  things
• 7:39
  that
• 7:39
  go
• 7:40
  into
• 7:40
  that.
• 7:40
  And
• 7:40
  guess
• 7:41
  what?
• 7:41
  When
• 7:41
  you
• 7:41
  invest
• 7:42
  in
• 7:42
  that
• 7:43
  mutual
• 7:43
  fund,
• 7:44
  you're
• 7:44
  buying
• 7:45
  a
• 7:45
  piece
• 7:46
  of
• 7:46
  that
• 7:46
  mix.
• 7:47
  So
• 7:48
  you've
• 7:48
  maximized
• 7:49
  your
• 7:49
  diversification.
• 7:51
  Generally,
• 7:51
  they're
• 7:51
  run
• 7:52
  by
• 7:52
  investment
• 7:52
  managers
• 7:53
  who
• 7:53
  are
• 7:53
  much
• 7:53
  wiser
• 7:54
  than
• 7:54
  you
• 7:54
  and
• 7:54
  I.
• 7:54
  Let's
• 7:55
  just
• 7:55
  be
• 7:55
  honest
• 7:55
  with
• 7:55
  that.
• 7:56
  You
• 7:56
  don't
• 7:56
  come
• 7:56
  to
• 7:56
  me
• 7:56
  for
• 7:57
  investment
• 7:57
  advice.
• 7:58
  And
• 7:58
  like
• 7:58
  I
• 7:58
  said,
• 7:59
  ETFs
• 7:59
  are
• 8:00
  very
• 8:00
  similar.
• 8:00
  The
• 8:00
  only
• 8:01
  difference
• 8:01
  with
• 8:01
  them
• 8:01
  is
• 8:01
  they're
• 8:02
  a
• 8:02
  bit
• 8:02
  cheaper,
• 8:02
  so
• 8:03
  they
• 8:03
  allow
• 8:03
  you
• 8:03
  to
• 8:03
  get
• 8:03
  into
• 8:03
  the
• 8:04
  market
• 8:04
  at
• 8:04
  a
• 8:04
  much
• 8:05
  lower
• 8:05
  rate.
• 8:05
  I
• 8:05
  talked
• 8:05
  about
• 8:05
  that
• 8:06
  on
• 8:06
  the
• 8:06
  show
• 8:06
  the
• 8:06
  other
• 8:06
  day.
• 8:07
  You
• 8:07
  can
• 8:07
  start
• 8:07
  with
• 8:08
  something
• 8:08
  as
• 8:08
  little
• 8:08
  as
• 8:09
  25
• 8:09
  bucks,
• 8:10
  and
• 8:10
  you
• 8:11
  can
• 8:11
  buy
• 8:11
  and
• 8:11
  sell
• 8:11
  these
• 8:11
  throughout
• 8:12
  the
• 8:12
  day.
• 8:12
  Again,
• 8:13
  it
• 8:13
  all
• 8:13
  comes
• 8:14
  down
• 8:14
  to
• 8:15
  diversification.
• 8:16
  If
• 8:16
  you
• 8:16
  work
• 8:16
  with
• 8:16
  an
• 8:17
  investment
• 8:17
  person,
• 8:17
  if
• 8:17
  you
• 8:17
  work
• 8:18
  with
• 8:18
  a
• 8:18
  broker.
• 8:18
  Many
• 8:19
  of
• 8:19
  my
• 8:19
  clients
• 8:19
  work
• 8:19
  with
• 8:19
  brokers.
• 8:20
  You
• 8:20
  may
• 8:20
  have
• 8:20
  a
• 8:20
  broker
• 8:21
  right
• 8:21
  now
• 8:21
  that
• 8:21
  you
• 8:21
  work
• 8:21
  with
• 8:22
  most
• 8:23
  of
• 8:23
  the
• 8:23
  time.
• 8:23
  If
• 8:24
  you
• 8:24
  have
• 8:24
  an
• 8:24
  effective
• 8:25
  broker.
• 8:25
  I'll
• 8:25
  say
• 8:25
  I
• 8:25
  probably
• 8:26
  should
• 8:26
  have
• 8:26
  said
• 8:26
  that
• 8:26
  from
• 8:26
  the
• 8:26
  beginning.
• 8:27
  If
• 8:28
  you've
• 8:28
  got
• 8:28
  an
• 8:28
  effective
• 8:29
  broker,
• 8:30
  they're
• 8:30
  going
• 8:30
  to
• 8:31
  work
• 8:31
  to
• 8:31
  help
• 8:31
  build
• 8:32
  diversification.
• 8:32
  Because
• 8:33
  what
• 8:33
  does
• 8:33
  diversification
• 8:34
  really
• 8:34
  mean?
• 8:34
  I
• 8:34
  guess
• 8:34
  I
• 8:34
  should
• 8:34
  have
• 8:35
  started
• 8:35
  there.
• 8:35
  You're
• 8:36
  spreading
• 8:36
  your
• 8:36
  risk.
• 8:37
  For
• 8:37
  example,
• 8:38
  if
• 8:38
  you
• 8:39
  went
• 8:39
  out
• 8:39
  and
• 8:39
  played
• 8:40
  just
• 8:40
  one
• 8:40
  stock,
• 8:41
  and
• 8:41
  I
• 8:41
  had
• 8:42
  this
• 8:42
  situation
• 8:42
  with
• 8:42
  a
• 8:42
  client
• 8:43
  not
• 8:43
  too
• 8:43
  many
• 8:43
  years
• 8:43
  back,
• 8:44
  they
• 8:44
  actually
• 8:44
  owned
• 8:45
  Exxon
• 8:45
  stock.
• 8:45
  And
• 8:46
  I'm
• 8:46
  not
• 8:46
  picking
• 8:46
  on
• 8:46
  Exxon,
• 8:47
  but.
• 8:47
  But
• 8:47
  Exxon,
• 8:48
  and
• 8:48
  this
• 8:48
  is
• 8:48
  many
• 8:49
  years
• 8:49
  ago,
• 8:49
  had
• 8:49
  a
• 8:49
  major
• 8:50
  disaster
• 8:51
  up
• 8:51
  in
• 8:51
  Alaska.
• 8:52
  And
• 8:52
  all
• 8:52
  of
• 8:52
  a
• 8:53
  sudden
• 8:53
  that
• 8:53
  Exxon
• 8:53
  stock
• 8:54
  took
• 8:54
  a
• 8:54
  nosedive
• 8:56
  because
• 8:56
  this
• 8:57
  particular
• 8:57
  client
• 8:58
  was
• 8:58
  only
• 8:58
  invested
• 8:59
  in
• 8:59
  Exxon
• 8:59
  stock.
• 9:00
  They
• 9:00
  weren't
• 9:00
  diversified.
• 9:01
  So
• 9:02
  that
• 9:02
  stock
• 9:02
  turn
• 9:03
  hurt
• 9:03
  them
• 9:04
  immensely.
• 9:04
  And
• 9:05
  that's
• 9:05
  the
• 9:05
  reason
• 9:06
  to
• 9:06
  diversify.
• 9:07
  And
• 9:07
  like
• 9:07
  I
• 9:07
  said,
• 9:07
  I
• 9:08
  don't
• 9:08
  want
• 9:08
  you
• 9:08
  to
• 9:08
  miss
• 9:09
  out
• 9:09
  on
• 9:09
  this.
• 9:10
  There
• 9:10
  is
• 9:11
  still
• 9:11
  risk
• 9:11
  in
• 9:12
  this.
• 9:13
  You
• 9:13
  can't
• 9:13
  completely
• 9:14
  eliminate
• 9:14
  risk,
• 9:15
  but
• 9:16
  you're
• 9:16
  eliminating
• 9:17
  some
• 9:17
  of
• 9:17
  it
• 9:17
  because
• 9:17
  you're
• 9:18
  smoothing
• 9:18
  out
• 9:18
  those
• 9:19
  rises
• 9:19
  and
• 9:19
  falls
• 9:19
  in
• 9:19
  the
• 9:20
  market
• 9:20
  because
• 9:20
  you've
• 9:20
  got
• 9:20
  this
• 9:21
  basket
• 9:21
  of
• 9:21
  investments.
• 9:22
  And
• 9:23
  generally
• 9:23
  they're
• 9:23
  in
• 9:24
  different
• 9:24
  sectors.
• 9:24
  What
• 9:25
  I
• 9:25
  mean
• 9:25
  by
• 9:25
  that
• 9:25
  is
• 9:25
  you
• 9:25
  may
• 9:26
  have
• 9:26
  some
• 9:26
  things
• 9:26
  in
• 9:26
  pharmaceuticals,
• 9:27
  you
• 9:27
  may
• 9:28
  have
• 9:28
  things
• 9:28
  in
• 9:28
  utilities.
• 9:29
  And
• 9:29
  the
• 9:30
  idea
• 9:30
  is,
• 9:30
  generally
• 9:31
  speaking,
• 9:32
  the
• 9:32
  whole
• 9:32
  market
• 9:33
  doesn't
• 9:33
  take
• 9:33
  a
• 9:33
  crap
• 9:34
  at
• 9:34
  the
• 9:34
  same
• 9:34
  time.
• 9:34
  And
• 9:35
  it's
• 9:35
  kind
• 9:35
  of
• 9:35
  a
• 9:35
  harsh
• 9:35
  way
• 9:35
  to
• 9:35
  say
• 9:36
  it,
• 9:36
  but
• 9:37
  generally
• 9:37
  that's
• 9:37
  the
• 9:37
  way
• 9:37
  it
• 9:38
  works.
• 9:38
  It
• 9:38
  doesn't
• 9:38
  all
• 9:38
  happen
• 9:39
  at
• 9:39
  once.
• 9:40
  So
• 9:40
  by
• 9:40
  buying
• 9:41
  this
• 9:41
  basket
• 9:42
  of
• 9:42
  investments,
• 9:43
  you're
• 9:43
  spreading
• 9:43
  that
• 9:44
  risk
• 9:44
  over
• 9:44
  many
• 9:45
  things.
• 9:46
  And
• 9:46
  you've
• 9:46
  got
• 9:46
  to
• 9:46
  understand,
• 9:47
  though,
• 9:48
  costs
• 9:48
  do
• 9:49
  matter.
• 9:49
  I'm
• 9:49
  gonna
• 9:49
  talk
• 9:49
  about
• 9:49
  that
• 9:50
  later
• 9:50
  on
• 9:50
  in
• 9:50
  this
• 9:50
  week.
• 9:51
  I'm
• 9:51
  gonna
• 9:51
  tell
• 9:51
  you
• 9:52
  how
• 9:52
  to
• 9:52
  really
• 9:52
  get
• 9:52
  under
• 9:53
  the
• 9:53
  hood
• 9:53
  and
• 9:53
  see
• 9:53
  what
• 9:53
  your
• 9:54
  costs
• 9:54
  are
• 9:54
  related
• 9:55
  to
• 9:55
  these
• 9:55
  investments.
• 9:56
  Because
• 9:57
  some
• 9:57
  mutual
• 9:58
  funds
• 9:58
  unfortunately
• 9:59
  have
• 9:59
  some
• 9:59
  pretty
• 9:59
  high
• 9:59
  costs.
• 10:00
  But
• 10:00
  you
• 10:00
  gotta
• 10:00
  go
• 10:00
  into
• 10:00
  that,
• 10:01
  understanding
• 10:02
  that.
• 10:03
  And
• 10:03
  I
• 10:03
  always
• 10:03
  wanna
• 10:04
  tie
• 10:04
  things
• 10:04
  back
• 10:04
  into
• 10:04
  Scripture.
• 10:05
  That's
• 10:05
  one
• 10:05
  of
• 10:05
  the
• 10:05
  reasons
• 10:06
  you
• 10:06
  join
• 10:06
  me,
• 10:06
  I
• 10:06
  hope.
• 10:07
  I
• 10:07
  always
• 10:08
  want
• 10:08
  to
• 10:08
  try
• 10:08
  to
• 10:08
  base
• 10:09
  us
• 10:09
  in
• 10:09
  scripture.
• 10:09
  And
• 10:09
  I
• 10:10
  found
• 10:10
  this
• 10:10
  quote
• 10:10
  from
• 10:10
  the
• 10:10
  book
• 10:10
  of
• 10:11
  Proverbs.
• 10:11
  It's
• 10:12
  from
• 10:12
  Proverbs
• 10:12
  24,
• 10:13
  verse
• 10:13
  27,
• 10:15
  and
• 10:15
  it
• 10:15
  says,
• 10:15
  put
• 10:16
  your
• 10:16
  outdoor
• 10:16
  work
• 10:16
  in
• 10:16
  order
• 10:17
  and
• 10:17
  get
• 10:18
  your
• 10:18
  fields
• 10:18
  ready.
• 10:19
  After
• 10:19
  that,
• 10:20
  build
• 10:20
  your
• 10:20
  house.
• 10:21
  And
• 10:22
  that's
• 10:22
  exactly
• 10:22
  what
• 10:22
  I'm
• 10:23
  talking
• 10:23
  about
• 10:23
  on
• 10:23
  today's
• 10:23
  show.
• 10:24
  Diversification.
• 10:25
  It's
• 10:26
  about
• 10:26
  laying
• 10:26
  out
• 10:27
  that
• 10:27
  right
• 10:28
  foundation
• 10:28
  first.
• 10:29
  When
• 10:29
  I
• 10:29
  work
• 10:29
  with
• 10:29
  small
• 10:30
  business
• 10:30
  clients,
• 10:30
  the
• 10:31
  thing
• 10:31
  I
• 10:31
  tell
• 10:31
  them
• 10:31
  time
• 10:31
  and
• 10:32
  time
• 10:32
  again
• 10:32
  is,
• 10:33
  is
• 10:33
  it
• 10:33
  starts
• 10:33
  with
• 10:34
  a
• 10:34
  strong
• 10:34
  foundation
• 10:35
  while
• 10:35
  mutual
• 10:36
  funds
• 10:36
  and
• 10:36
  ETFs
• 10:37
  help
• 10:38
  get
• 10:38
  you
• 10:38
  to
• 10:38
  that
• 10:38
  strong
• 10:39
  foundation.
• 10:39
  So
• 10:39
  if
• 10:39
  you're
• 10:40
  like
• 10:40
  me,
• 10:40
  I
• 10:40
  would
• 10:40
  love
• 10:40
  to
• 10:40
  have
• 10:41
  a
• 10:41
  strong
• 10:41
  foundation.
• 10:42
  This
• 10:42
  is
• 10:43
  a
• 10:43
  great
• 10:43
  way
• 10:43
  to
• 10:43
  start.
• 10:44
  How
• 10:45
  about
• 10:45
  we
• 10:45
  pray
• 10:45
  together
• 10:45
  today?
• 10:47
  Lord,
• 10:47
  we
• 10:47
  just
• 10:47
  thank
• 10:48
  you
• 10:48
  for
• 10:48
  the
• 10:48
  provision
• 10:49
  you
• 10:49
  give
• 10:49
  us
• 10:49
  in
• 10:49
  our
• 10:49
  lives,
• 10:50
  Lord.
• 10:51
  We
• 10:51
  thank
• 10:51
  you
• 10:51
  for
• 10:51
  these
• 10:52
  things
• 10:52
  like
• 10:52
  mutual
• 10:53
  funds
• 10:53
  and
• 10:53
  ETFs,
• 10:54
  Lord.
• 10:55
  And
• 10:55
  as
• 10:55
  we
• 10:55
  navigate
• 10:56
  these
• 10:56
  investments
• 10:57
  decisions,
• 10:57
  Lord,
• 10:58
  we
• 10:58
  would
• 10:58
  ask
• 10:58
  that
• 10:59
  you
• 10:59
  would
• 10:59
  help
• 10:59
  us
• 10:59
  to
• 10:59
  be
• 10:59
  wise
• 11:01
  and
• 11:01
  help
• 11:01
  us
• 11:01
  to
• 11:01
  find
• 11:02
  ways
• 11:02
  to.
• 11:03
  To
• 11:03
  simplify
• 11:04
  these
• 11:04
  things
• 11:04
  that
• 11:04
  can
• 11:04
  be
• 11:05
  so
• 11:05
  confusing
• 11:05
  on
• 11:06
  their.
• 11:06
  On
• 11:06
  their
• 11:06
  basis
• 11:07
  of
• 11:07
  what
• 11:07
  we
• 11:07
  usually
• 11:08
  see,
• 11:08
  Lord.
• 11:09
  But
• 11:09
  at
• 11:09
  the
• 11:09
  same
• 11:10
  time,
• 11:10
  Lord,
• 11:10
  help
• 11:10
  us
• 11:10
  to
• 11:10
  be
• 11:11
  patient.
• 11:12
  Help
• 11:12
  us
• 11:12
  to
• 11:12
  not
• 11:12
  always
• 11:13
  be
• 11:13
  looking
• 11:13
  for
• 11:13
  that
• 11:13
  one
• 11:14
  big
• 11:14
  winner,
• 11:15
  that
• 11:15
  one
• 11:15
  thing
• 11:15
  that's
• 11:16
  going
• 11:16
  to
• 11:16
  just
• 11:16
  shock
• 11:16
  the
• 11:16
  market.
• 11:17
  And
• 11:17
  we're
• 11:17
  going
• 11:17
  to.
• 11:17
  We're
• 11:17
  going
• 11:18
  to
• 11:18
  make
• 11:18
  a
• 11:18
  ton
• 11:19
  of
• 11:19
  money
• 11:19
  overnight,
• 11:19
  Lord.
• 11:20
  Help
• 11:21
  us
• 11:21
  to
• 11:21
  invest
• 11:21
  steadily,
• 11:22
  Lord,
• 11:22
  because
• 11:22
  that's
• 11:22
  what
• 11:23
  your
• 11:23
  word
• 11:23
  talks
• 11:23
  about.
• 11:24
  That,
• 11:24
  that
• 11:25
  honest
• 11:25
  and
• 11:26
  routine
• 11:27
  and
• 11:27
  consistent
• 11:28
  investment.
• 11:28
  Lord,
• 11:29
  help
• 11:29
  us
• 11:29
  not
• 11:29
  to
• 11:30
  chase
• 11:30
  those
• 11:30
  fads.
• 11:30
  It's
• 11:31
  so
• 11:31
  easy
• 11:31
  to
• 11:31
  chase
• 11:31
  those
• 11:31
  fads.
• 11:32
  Those
• 11:32
  get
• 11:32
  rich
• 11:33
  quick
• 11:33
  overnight
• 11:34
  things,
• 11:34
  Lord.
• 11:35
  And
• 11:35
  Lord,
• 11:35
  we
• 11:35
  just
• 11:36
  always
• 11:36
  surrender
• 11:36
  our
• 11:37
  trust
• 11:37
  in
• 11:37
  you,
• 11:37
  Lord.
• 11:37
  We're
• 11:38
  not
• 11:38
  trusting
• 11:38
  in
• 11:38
  the
• 11:38
  market.
• 11:39
  We're
• 11:39
  not
• 11:39
  trusting
• 11:40
  in
• 11:40
  our
• 11:40
  money,
• 11:40
  Lord.
• 11:41
  We're
• 11:41
  trusting
• 11:41
  in
• 11:41
  you.
• 11:41
  And
• 11:41
  we
• 11:41
  just
• 11:42
  surrender
• 11:42
  that
• 11:42
  to
• 11:42
  you.
• 11:43
  And
• 11:43
  we
• 11:43
  ask
• 11:43
  all
• 11:44
  these
• 11:44
  things
• 11:44
  in
• 11:44
  the
• 11:44
  precious
• 11:45
  name
• 11:45
  of
• 11:45
  Jesus.
• 11:46
  Amen.
• 11:47
  I
• 11:48
  always
• 11:48
  want
• 11:48
  to
• 11:48
  give
• 11:48
  you
• 11:48
  an
• 11:48
  action
• 11:49
  item
• 11:49
  as
• 11:49
  well.
• 11:49
  And
• 11:50
  I
• 11:50
  thought
• 11:50
  about,
• 11:50
  okay,
• 11:50
  well,
• 11:50
  what
• 11:50
  can
• 11:51
  I
• 11:51
  do
• 11:51
  today?
• 11:51
  Here's
• 11:52
  a
• 11:52
  great
• 11:52
  idea.
• 11:53
  Go
• 11:53
  into
• 11:54
  your
• 11:54
  retirement.
• 11:54
  Most
• 11:55
  people
• 11:55
  have
• 11:55
  a
• 11:55
  retirement
• 11:55
  account
• 11:56
  or
• 11:56
  some
• 11:56
  sort
• 11:57
  of
• 11:57
  investment
• 11:57
  account.
• 11:57
  If
• 11:58
  you
• 11:58
  don't,
• 11:58
  this
• 11:58
  is
• 11:58
  a
• 11:58
  great
• 11:59
  idea
• 11:59
  to
• 11:59
  start
• 11:59
  studying
• 12:00
  those
• 12:00
  things.
• 12:00
  But
• 12:01
  log
• 12:01
  into
• 12:01
  your
• 12:01
  account
• 12:02
  and
• 12:02
  take
• 12:02
  a
• 12:02
  look
• 12:03
  at
• 12:03
  what
• 12:03
  you
• 12:03
  have.
• 12:03
  Chances
• 12:04
  are
• 12:04
  you're
• 12:05
  going
• 12:05
  to
• 12:05
  be
• 12:05
  invested
• 12:06
  in
• 12:06
  mutual
• 12:06
  funds
• 12:07
  or
• 12:07
  ETFs.
• 12:08
  Go
• 12:08
  find
• 12:09
  that
• 12:09
  name
• 12:09
  of
• 12:09
  that
• 12:10
  mutual
• 12:10
  fund
• 12:10
  and
• 12:11
  do
• 12:11
  some
• 12:11
  research
• 12:11
  about
• 12:11
  it.
• 12:12
  See
• 12:12
  what
• 12:12
  companies
• 12:13
  make
• 12:13
  up
• 12:13
  that
• 12:13
  mutual
• 12:14
  fund.
• 12:14
  It
• 12:14
  might
• 12:15
  be
• 12:15
  surprising
• 12:15
  to
• 12:15
  you
• 12:16
  just
• 12:16
  how
• 12:17
  many
• 12:17
  companies
• 12:17
  you're
• 12:18
  investing.
• 12:18
  A
• 12:18
  lot
• 12:18
  of
• 12:18
  people
• 12:19
  are
• 12:19
  surprised
• 12:19
  when
• 12:20
  they
• 12:20
  do
• 12:20
  this.
• 12:20
  Like
• 12:20
  Ralph,
• 12:20
  I
• 12:20
  didn't
• 12:21
  realize
• 12:21
  I
• 12:21
  invested
• 12:22
  in
• 12:22
  all
• 12:22
  these
• 12:22
  companies.
• 12:22
  I
• 12:23
  just
• 12:23
  thought
• 12:23
  I
• 12:23
  had
• 12:23
  this
• 12:23
  mutual
• 12:24
  fund,
• 12:24
  this
• 12:24
  American
• 12:25
  fund,
• 12:25
  or
• 12:25
  this
• 12:25
  Vanguard
• 12:26
  fund.
• 12:27
  But
• 12:27
  when
• 12:27
  they
• 12:27
  got
• 12:27
  into
• 12:27
  it,
• 12:28
  they
• 12:28
  were
• 12:28
  amazed
• 12:28
  at
• 12:28
  how
• 12:29
  many
• 12:29
  different
• 12:29
  companies
• 12:30
  they
• 12:30
  were
• 12:30
  actually
• 12:30
  investing
• 12:31
  in.
• 12:31
  So
• 12:32
  that's
• 12:32
  really
• 12:32
  my
• 12:32
  action
• 12:33
  plan
• 12:33
  for
• 12:33
  today.
• 12:33
  Make
• 12:34
  a
• 12:34
  smart
• 12:34
  decision.
• 12:34
  Go
• 12:35
  understand
• 12:35
  what
• 12:36
  you're
• 12:36
  investing
• 12:36
  in.
• 12:37
  I
• 12:38
  just
• 12:38
  want
• 12:38
  to
• 12:38
  thank
• 12:38
  you
• 12:38
  for
• 12:39
  joining
• 12:39
  me
• 12:39
  on
• 12:39
  the
• 12:39
  show
• 12:39
  today.
• 12:40
  If
• 12:40
  you've
• 12:41
  got
• 12:41
  a
• 12:41
  question
• 12:41
  you'd
• 12:41
  like
• 12:41
  to
• 12:41
  have
• 12:42
  answered
• 12:42
  on
• 12:42
  the
• 12:42
  show,
• 12:42
  I
• 12:42
  would
• 12:43
  love
• 12:43
  to
• 12:43
  get
• 12:43
  that
• 12:43
  question
• 12:44
  from
• 12:44
  you.
• 12:44
  Just
• 12:45
  go
• 12:45
  to
• 12:45
  justaskralph.com
• 12:47
  you
• 12:47
  can
• 12:47
  put
• 12:47
  your
• 12:47
  name,
• 12:48
  your
• 12:48
  email
• 12:48
  address
• 12:49
  in
• 12:49
  and
• 12:49
  send
• 12:49
  over
• 12:50
  the
• 12:50
  question
• 12:50
  and
• 12:50
  I'll
• 12:51
  feature
• 12:51
  it
• 12:51
  on
• 12:51
  the
• 12:51
  show.
• 12:52
  And
• 12:52
  as
• 12:52
  I
• 12:52
  close,
• 12:53
  I
• 12:53
  just
• 12:53
  want
• 12:53
  to
• 12:53
  thank
• 12:53
  you
• 12:54
  for
• 12:54
  the
• 12:54
  confidence
• 12:55
  you
• 12:55
  place
• 12:55
  in
• 12:55
  me
• 12:55
  by
• 12:56
  joining
• 12:56
  the
• 12:56
  show
• 12:56
  every
• 12:56
  day.
• 12:57
  My
• 12:57
  goal
• 12:58
  is
• 12:58
  to
• 12:58
  help
• 12:58
  you
• 12:58
  become
• 12:59
  a
• 12:59
  more
• 12:59
  financially
• 13:00
  confident
• 13:00
  Christian.
• 13:01
  So
• 13:02
  as
• 13:02
  you
• 13:02
  go
• 13:02
  about
• 13:02
  your
• 13:02
  day
• 13:03
  today,
• 13:03
  stay
• 13:04
  financially
• 13:04
  savvy.
• 13:05
  God
• 13:05
  bless
• 13:05
  you,
• 13:06
  and
• 13:06
  you
• 13:06
  have
• 13:06
  a
• 13:07
  great
• 13:07
  day
• 13:07
  today.