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Understanding Behavioral Finance: Why Emotions Affect Your Investing? · Becoming Financially Confident

• 0:37
  What
• 0:37
  if
• 0:38
  I
• 0:38
  told
• 0:38
  you
• 0:38
  the
• 0:38
  biggest
• 0:39
  threat
• 0:39
  to
• 0:39
  your
• 0:39
  money
• 0:40
  isn't
• 0:40
  the
• 0:40
  stock
• 0:41
  market,
• 0:41
  it's
• 0:42
  you?
• 0:43
  It's
• 0:44
  an
• 0:44
  interesting
• 0:44
  thought,
• 0:44
  isn't
• 0:45
  it?
• 0:45
  About
• 0:46
  78%
• 0:47
  of
• 0:47
  Americans
• 0:48
  say
• 0:48
  they're
• 0:48
  uncomfortable
• 0:49
  investing.
• 0:51
  78%.
• 0:53
  I
• 0:53
  gotta
• 0:53
  be
• 0:54
  honest
• 0:54
  with
• 0:54
  you,
• 0:54
  I
• 0:54
  was
• 0:54
  a
• 0:54
  bit
• 0:54
  shocked
• 0:55
  at
• 0:55
  that
• 0:55
  number.
• 0:56
  How
• 0:56
  does
• 0:56
  that
• 0:56
  strike
• 0:57
  you?
• 0:58
  Listen
• 0:58
  to
• 0:58
  this
• 0:59
  one.
• 1:00
  Four
• 1:00
  out
• 1:01
  of
• 1:01
  five
• 1:01
  Americans
• 1:03
  have
• 1:03
  anxiety
• 1:03
  about
• 1:04
  their
• 1:04
  financial
• 1:04
  situation.
• 1:05
  Now
• 1:05
  that
• 1:05
  one
• 1:05
  didn't
• 1:05
  surprise
• 1:06
  me
• 1:07
  because
• 1:07
  I
• 1:07
  don't
• 1:08
  know
• 1:08
  about
• 1:08
  you,
• 1:08
  maybe
• 1:08
  you're
• 1:08
  feeling
• 1:08
  it
• 1:09
  right
• 1:09
  now,
• 1:09
  that's
• 1:09
  why
• 1:09
  you're
• 1:09
  listening
• 1:09
  to
• 1:10
  the
• 1:10
  show.
• 1:10
  But
• 1:10
  four
• 1:10
  out
• 1:11
  of
• 1:11
  five
• 1:11
  Americans
• 1:12
  have
• 1:12
  anxiety
• 1:13
  about
• 1:13
  their
• 1:13
  financial
• 1:14
  situation.
• 1:16
  And
• 1:16
  listen
• 1:17
  to
• 1:17
  this
• 1:17
  one.
• 1:18
  And
• 1:18
  this
• 1:18
  one
• 1:19
  was
• 1:19
  really
• 1:19
  sad
• 1:19
  when
• 1:20
  I
• 1:20
  read
• 1:20
  this.
• 1:20
  This
• 1:20
  is
• 1:20
  right
• 1:20
  from
• 1:21
  Bank
• 1:21
  Rate
• 1:21
  2025.
• 1:22
  43%
• 1:23
  of
• 1:23
  U.S.
• 1:23
  adults
• 1:24
  say
• 1:24
  money
• 1:24
  negatively
• 1:25
  affects
• 1:26
  their
• 1:26
  mental
• 1:26
  health,
• 1:27
  causing
• 1:27
  stress
• 1:28
  or
• 1:28
  worry.
• 1:30
  I
• 1:30
  gotta
• 1:31
  be
• 1:31
  honest
• 1:31
  with
• 1:31
  you,
• 1:31
  I
• 1:31
  felt
• 1:32
  that
• 1:32
  at
• 1:32
  times.
• 1:32
  Maybe
• 1:32
  you're
• 1:33
  thinking
• 1:33
  the
• 1:33
  same
• 1:33
  thing.
• 1:35
  Well,
• 1:35
  clearly
• 1:35
  we
• 1:36
  have
• 1:36
  a
• 1:36
  problem
• 1:36
  with
• 1:36
  financial
• 1:37
  anxiety,
• 1:37
  don't
• 1:38
  we?
• 1:39
  Which
• 1:39
  leads
• 1:39
  me
• 1:40
  to
• 1:40
  today's
• 1:40
  listener
• 1:41
  question.
• 1:42
  When
• 1:42
  I
• 1:42
  got
• 1:42
  this
• 1:42
  one,
• 1:43
  I
• 1:43
  said,
• 1:43
  wow,
• 1:44
  this
• 1:45
  is
• 1:45
  emotional.
• 1:45
  But
• 1:45
  this
• 1:46
  is
• 1:46
  what
• 1:46
  this
• 1:46
  listener
• 1:46
  wrote,
• 1:47
  says,
• 1:47
  Ralph,
• 1:48
  I
• 1:48
  know
• 1:48
  I
• 1:49
  make
• 1:49
  emotional
• 1:49
  money
• 1:50
  decisions
• 1:50
  sometimes.
• 1:52
  And
• 1:52
  then
• 1:52
  she
• 1:53
  ends
• 1:53
  with
• 1:53
  this.
• 1:54
  Why
• 1:54
  do
• 1:55
  fear
• 1:55
  and
• 1:55
  greed
• 1:56
  affects
• 1:57
  me
• 1:57
  so
• 1:57
  much
• 1:57
  when
• 1:58
  it
• 1:58
  comes
• 1:58
  to
• 1:58
  investing?
• 2:00
  What
• 2:00
  a
• 2:01
  great
• 2:01
  question.
• 2:02
  And
• 2:03
  I
• 2:03
  pulled
• 2:03
  out
• 2:03
  those
• 2:03
  two
• 2:04
  words
• 2:04
  because
• 2:04
  those
• 2:04
  two
• 2:05
  words
• 2:05
  are
• 2:05
  so
• 2:05
  impactful.
• 2:06
  Fear
• 2:06
  and
• 2:07
  greed.
• 2:08
  It's
• 2:09
  an
• 2:09
  interesting
• 2:09
  blend
• 2:10
  of
• 2:10
  emotions,
• 2:10
  isn't
• 2:11
  it?
• 2:12
  But
• 2:12
  the
• 2:13
  truth
• 2:13
  is
• 2:13
  this,
• 2:13
  fear
• 2:13
  and
• 2:14
  greed
• 2:14
  are
• 2:14
  powerful
• 2:15
  forces,
• 2:15
  we
• 2:15
  gotta
• 2:15
  admit
• 2:16
  that.
• 2:17
  And
• 2:17
  oftentimes,
• 2:18
  maybe
• 2:19
  too
• 2:19
  often,
• 2:20
  they're
• 2:21
  behind
• 2:21
  our
• 2:21
  worst
• 2:21
  financial
• 2:22
  decisions.
• 2:24
  I'm
• 2:24
  going
• 2:24
  to
• 2:24
  get
• 2:24
  back
• 2:25
  to
• 2:25
  what
• 2:25
  I
• 2:25
  said
• 2:25
  a
• 2:25
  few
• 2:25
  minutes
• 2:25
  ago.
• 2:26
  The
• 2:26
  market
• 2:26
  isn't
• 2:26
  your
• 2:27
  biggest
• 2:27
  risk,
• 2:27
  your
• 2:28
  emotions
• 2:28
  are.
• 2:29
  And
• 2:29
  today
• 2:29
  I'm
• 2:29
  going
• 2:30
  to
• 2:30
  show
• 2:30
  you
• 2:30
  how
• 2:30
  to
• 2:30
  finally
• 2:31
  beat
• 2:31
  that
• 2:32
  emotion.
• 2:34
  This
• 2:34
  is
• 2:34
  Financially
• 2:35
  Confident
• 2:35
  Christian,
• 2:36
  your
• 2:36
  daily
• 2:37
  dose
• 2:37
  of
• 2:37
  gospel,
• 2:37
  grounded
• 2:38
  insight
• 2:38
  and
• 2:39
  faith
• 2:39
  driven
• 2:39
  tips
• 2:40
  to
• 2:40
  help
• 2:40
  you
• 2:40
  break
• 2:41
  the
• 2:41
  cycle
• 2:41
  of
• 2:41
  financial
• 2:42
  shame
• 2:42
  with
• 2:42
  confidence.
• 2:44
  Hello
• 2:45
  and
• 2:45
  welcome
• 2:45
  to
• 2:45
  the
• 2:46
  show.
• 2:46
  I'm
• 2:46
  Ralph.
• 2:47
  I'm
• 2:47
  so
• 2:47
  happy
• 2:48
  you've
• 2:48
  chosen
• 2:48
  to
• 2:48
  give
• 2:48
  me
• 2:49
  a
• 2:49
  little
• 2:49
  bit
• 2:49
  of
• 2:49
  your
• 2:49
  time.
• 2:49
  We're
• 2:50
  still
• 2:50
  in
• 2:50
  our
• 2:50
  final
• 2:51
  week
• 2:51
  of
• 2:51
  this
• 2:51
  investment
• 2:52
  series.
• 2:53
  Yesterday
• 2:53
  we
• 2:54
  talked
• 2:54
  about
• 2:54
  financial
• 2:55
  advisors.
• 2:56
  We
• 2:56
  talked
• 2:56
  about
• 2:56
  how
• 2:56
  they
• 2:56
  bring
• 2:57
  knowledge
• 2:57
  and
• 2:58
  keep
• 2:58
  you
• 2:58
  on
• 2:58
  track.
• 2:58
  But
• 2:59
  we
• 2:59
  also
• 2:59
  said
• 2:59
  that
• 3:00
  real
• 3:00
  financial
• 3:01
  success
• 3:02
  comes
• 3:02
  from
• 3:02
  choosing
• 3:03
  someone
• 3:03
  smart
• 3:03
  and
• 3:03
  honest.
• 3:04
  So
• 3:04
  if
• 3:04
  you
• 3:04
  missed
• 3:04
  yesterday's
• 3:05
  show,
• 3:05
  I'm
• 3:05
  going
• 3:06
  to
• 3:06
  encourage
• 3:06
  you
• 3:06
  go
• 3:06
  check
• 3:06
  out
• 3:07
  our
• 3:07
  show.
• 3:07
  You
• 3:07
  can
• 3:07
  see
• 3:08
  all
• 3:08
  of
• 3:08
  our
• 3:08
  shows
• 3:08
  right
• 3:08
  at
• 3:09
  our
• 3:09
  website,
• 3:10
  simple
• 3:10
  website
• 3:10
  to
• 3:11
  remember,
• 3:11
  financiallyconfidentchristian.com.
• 3:14
  but
• 3:15
  today
• 3:15
  we're
• 3:15
  Going
• 3:15
  to
• 3:15
  talk
• 3:15
  about
• 3:16
  fear
• 3:16
  in
• 3:16
  Greek.
• 3:17
  It's
• 3:17
  kind
• 3:17
  of
• 3:17
  like
• 3:17
  devices
• 3:18
  of
• 3:18
  man,
• 3:18
  right?
• 3:19
  We're
• 3:19
  going
• 3:20
  to
• 3:20
  pull
• 3:20
  how
• 3:20
  that
• 3:21
  pulls
• 3:21
  our
• 3:21
  strings
• 3:22
  when
• 3:22
  we
• 3:22
  invest.
• 3:23
  But
• 3:23
  bigger
• 3:24
  than
• 3:24
  all
• 3:24
  that,
• 3:24
  I'm
• 3:24
  going
• 3:25
  to
• 3:25
  show
• 3:25
  you
• 3:25
  today
• 3:26
  how
• 3:26
  to
• 3:26
  keep
• 3:26
  them
• 3:26
  from
• 3:27
  derailing
• 3:27
  your
• 3:27
  financial
• 3:28
  plan.
• 3:28
  Because,
• 3:28
  listen,
• 3:29
  I've
• 3:30
  seen
• 3:30
  clients
• 3:31
  so
• 3:31
  many
• 3:31
  times
• 3:31
  lose
• 3:32
  money
• 3:32
  due
• 3:32
  to
• 3:32
  emotional
• 3:33
  reactions,
• 3:34
  whether
• 3:34
  that's
• 3:35
  selling
• 3:35
  too
• 3:35
  soon
• 3:35
  or
• 3:36
  sitting
• 3:36
  on
• 3:36
  the
• 3:36
  sidelines
• 3:37
  and
• 3:37
  buying
• 3:38
  too
• 3:38
  late.
• 3:39
  And
• 3:39
  it's
• 3:40
  affected
• 3:40
  me
• 3:40
  too,
• 3:40
  because
• 3:41
  I've
• 3:41
  experienced
• 3:41
  firsthand
• 3:42
  how
• 3:42
  awareness
• 3:43
  and
• 3:43
  discipline,
• 3:44
  when
• 3:44
  we
• 3:44
  really
• 3:44
  have
• 3:45
  that
• 3:45
  mindset
• 3:45
  of
• 3:46
  awareness
• 3:46
  and
• 3:46
  discipline,
• 3:47
  they
• 3:47
  can
• 3:47
  protect
• 3:48
  us
• 3:48
  from
• 3:48
  costly
• 3:49
  mistakes.
• 3:50
  So
• 3:50
  let's
• 3:50
  go
• 3:50
  back
• 3:50
  in
• 3:51
  time.
• 3:51
  Let's
• 3:51
  go
• 3:51
  back
• 3:51
  in
• 3:52
  our
• 3:52
  time
• 3:52
  machine
• 3:52
  a
• 3:52
  little
• 3:52
  bit.
• 3:53
  Let's
• 3:53
  go
• 3:53
  back
• 3:53
  to
• 3:53
  2008.
• 3:55
  Now,
• 3:55
  if
• 3:55
  you're
• 3:55
  from
• 3:55
  the
• 3:56
  United
• 3:56
  States,
• 3:56
  I
• 3:57
  don't
• 3:57
  know
• 3:57
  how
• 3:57
  old
• 3:57
  you
• 3:57
  are
• 3:57
  that
• 3:57
  you're
• 3:58
  listening,
• 3:58
  but
• 3:58
  I'm
• 3:58
  going
• 3:58
  to
• 3:59
  set
• 3:59
  the
• 3:59
  scene
• 3:59
  for
• 3:59
  you.
• 3:59
  2008
• 4:01
  headlines
• 4:02
  were
• 4:02
  screaming,
• 4:03
  the
• 4:03
  market's
• 4:03
  fallen.
• 4:04
  There's
• 4:04
  going
• 4:04
  to
• 4:04
  be
• 4:04
  a
• 4:04
  huge
• 4:04
  collapse.
• 4:05
  The
• 4:05
  markets
• 4:05
  were
• 4:05
  falling
• 4:06
  daily.
• 4:06
  And
• 4:07
  this
• 4:07
  is
• 4:07
  a
• 4:07
  true
• 4:07
  statement.
• 4:08
  People's
• 4:08
  retirement
• 4:09
  accounts
• 4:09
  were
• 4:09
  down
• 4:10
  30,
• 4:10
  35,
• 4:11
  40%.
• 4:13
  And
• 4:13
  if
• 4:13
  you
• 4:13
  watch
• 4:14
  the
• 4:14
  news,
• 4:14
  if
• 4:14
  you
• 4:14
  listen
• 4:15
  to
• 4:15
  anything
• 4:15
  during
• 4:15
  that
• 4:16
  time,
• 4:16
  truth
• 4:16
  is,
• 4:16
  fear
• 4:17
  was
• 4:17
  everywhere.
• 4:18
  And
• 4:18
  it
• 4:18
  was
• 4:18
  a
• 4:19
  contagion.
• 4:19
  It
• 4:20
  was
• 4:20
  contagious.
• 4:21
  Everybody
• 4:21
  was
• 4:21
  feeling
• 4:22
  this.
• 4:22
  And
• 4:23
  I
• 4:23
  didn't
• 4:23
  forget
• 4:23
  it
• 4:23
  because
• 4:23
  I
• 4:24
  was
• 4:24
  feeling
• 4:24
  it
• 4:24
  too.
• 4:24
  And
• 4:24
  I
• 4:24
  had
• 4:24
  two
• 4:25
  particular
• 4:25
  clients
• 4:26
  that
• 4:26
  I
• 4:26
  want
• 4:26
  to
• 4:26
  share
• 4:26
  their
• 4:27
  stories
• 4:27
  with
• 4:27
  you
• 4:27
  today.
• 4:28
  Let's
• 4:28
  call
• 4:28
  the
• 4:29
  first
• 4:29
  one.
• 4:29
  My
• 4:29
  panic
• 4:30
  seller
• 4:30
  client
• 4:31
  calls
• 4:32
  me
• 4:32
  one
• 4:32
  day
• 4:32
  and
• 4:32
  he
• 4:32
  says,
• 4:33
  ralph,
• 4:33
  I
• 4:33
  just
• 4:33
  can't
• 4:33
  lose
• 4:34
  another
• 4:34
  dime.
• 4:34
  He
• 4:34
  said,
• 4:35
  ralph,
• 4:35
  I
• 4:35
  can't
• 4:35
  stomach
• 4:36
  more
• 4:36
  losses.
• 4:36
  I
• 4:36
  can't
• 4:37
  do
• 4:37
  this.
• 4:38
  And
• 4:38
  I
• 4:38
  said
• 4:38
  to
• 4:38
  him,
• 4:39
  I
• 4:39
  gotta
• 4:39
  be
• 4:39
  honest
• 4:39
  with
• 4:39
  you,
• 4:39
  I
• 4:39
  kind
• 4:39
  of
• 4:40
  felt
• 4:40
  the
• 4:40
  same
• 4:40
  way
• 4:40
  he
• 4:40
  was
• 4:41
  feeling.
• 4:42
  I
• 4:42
  said,
• 4:42
  well,
• 4:42
  think
• 4:42
  about
• 4:43
  it,
• 4:43
  pray
• 4:43
  about
• 4:43
  it,
• 4:43
  because
• 4:43
  I
• 4:44
  think
• 4:44
  that's
• 4:44
  a
• 4:44
  very
• 4:44
  important
• 4:44
  part
• 4:45
  of
• 4:45
  this.
• 4:46
  But
• 4:46
  turns
• 4:46
  out
• 4:46
  he
• 4:46
  sold
• 4:47
  everything.
• 4:48
  He
• 4:48
  said,
• 4:48
  I'm
• 4:49
  out
• 4:49
  of
• 4:49
  the
• 4:49
  market.
• 4:49
  But
• 4:49
  here's
• 4:50
  the
• 4:50
  problem
• 4:50
  with
• 4:50
  that.
• 4:50
  He
• 4:50
  locked
• 4:51
  in
• 4:51
  those
• 4:51
  losses.
• 4:52
  He
• 4:53
  was
• 4:53
  completely
• 4:53
  on
• 4:53
  the
• 4:54
  sidelines.
• 4:56
  And
• 4:56
  that
• 4:56
  decision
• 4:56
  meant
• 4:57
  he
• 4:57
  missed
• 4:57
  that
• 4:58
  rebound
• 4:58
  that
• 4:59
  did
• 4:59
  come
• 4:59
  months
• 4:59
  later.
• 4:59
  I've
• 5:00
  talked
• 5:00
  about
• 5:00
  it
• 5:00
  on
• 5:00
  the
• 5:00
  show
• 5:00
  before.
• 5:01
  Generally
• 5:02
  speaking,
• 5:02
  there's
• 5:03
  always
• 5:03
  a
• 5:04
  rebound.
• 5:05
  So
• 5:05
  what's
• 5:06
  our
• 5:06
  lesson
• 5:06
  here?
• 5:07
  That
• 5:07
  fear,
• 5:08
  that's
• 5:08
  what
• 5:08
  he
• 5:08
  was
• 5:08
  operating
• 5:08
  under,
• 5:09
  that
• 5:09
  fear
• 5:09
  driven
• 5:10
  choice
• 5:11
  causes
• 5:11
  permanent
• 5:12
  damage.
• 5:13
  And
• 5:13
  my
• 5:13
  client
• 5:14
  felt
• 5:14
  that
• 5:14
  permanent
• 5:15
  damage.
• 5:15
  Well,
• 5:15
  let
• 5:15
  me
• 5:16
  tell
• 5:16
  you
• 5:16
  about
• 5:16
  my
• 5:16
  other
• 5:17
  client.
• 5:17
  We'll
• 5:17
  call
• 5:17
  him
• 5:18
  the
• 5:18
  late
• 5:18
  buyer.
• 5:19
  Now,
• 5:20
  this
• 5:20
  late
• 5:20
  buyer
• 5:21
  man,
• 5:21
  he
• 5:21
  was
• 5:21
  swell.
• 5:22
  He
• 5:22
  said,
• 5:22
  I'm
• 5:22
  going
• 5:22
  to
• 5:22
  get
• 5:22
  out
• 5:22
  of
• 5:23
  the
• 5:23
  market
• 5:23
  before
• 5:23
  there's
• 5:23
  even
• 5:24
  a
• 5:24
  problem.
• 5:24
  He
• 5:24
  beat
• 5:25
  that
• 5:25
  rush.
• 5:26
  But
• 5:26
  here's
• 5:27
  the
• 5:27
  problem.
• 5:27
  He
• 5:27
  stayed
• 5:27
  out
• 5:28
  during
• 5:28
  that
• 5:28
  downturn.
• 5:30
  But
• 5:30
  then
• 5:30
  as
• 5:30
  he
• 5:30
  started
• 5:30
  to
• 5:31
  see
• 5:31
  the
• 5:31
  markets
• 5:31
  rebound,
• 5:31
  he
• 5:32
  rushed
• 5:32
  in
• 5:32
  at
• 5:32
  record
• 5:32
  highs.
• 5:33
  He
• 5:33
  did
• 5:33
  that
• 5:33
  what
• 5:33
  we'll
• 5:33
  call
• 5:34
  herd
• 5:34
  mentality.
• 5:34
  I'll
• 5:34
  talk
• 5:34
  about
• 5:35
  that
• 5:35
  in
• 5:35
  a
• 5:35
  few
• 5:35
  minutes.
• 5:36
  I
• 5:36
  never
• 5:36
  forget
• 5:37
  he
• 5:37
  said
• 5:37
  this
• 5:37
  to
• 5:37
  me.
• 5:37
  He
• 5:37
  said,
• 5:37
  ralph,
• 5:38
  everyone
• 5:38
  else
• 5:38
  is
• 5:38
  making
• 5:39
  money.
• 5:39
  I
• 5:39
  don't
• 5:39
  want
• 5:39
  to
• 5:39
  miss
• 5:40
  out.
• 5:40
  He
• 5:40
  had
• 5:40
  that
• 5:41
  fear
• 5:41
  of
• 5:41
  missing
• 5:41
  out.
• 5:42
  Here's
• 5:43
  the
• 5:43
  problem
• 5:43
  with
• 5:43
  that.
• 5:44
  Right
• 5:45
  after
• 5:45
  he
• 5:45
  got
• 5:45
  into
• 5:46
  the
• 5:46
  market,
• 5:46
  the
• 5:46
  markets
• 5:47
  corrected
• 5:47
  again.
• 5:47
  And
• 5:47
  guess
• 5:48
  what?
• 5:48
  Boom.
• 5:49
  It
• 5:49
  hit
• 5:49
  the
• 5:49
  bottom
• 5:50
  again.
• 5:50
  His
• 5:50
  losses
• 5:51
  were
• 5:51
  immense
• 5:52
  because
• 5:52
  he
• 5:52
  bought
• 5:53
  at
• 5:53
  the
• 5:53
  top
• 5:53
  of
• 5:53
  the
• 5:53
  market.
• 5:55
  What's
• 5:55
  the
• 5:55
  other
• 5:55
  lesson
• 5:56
  here?
• 5:56
  The
• 5:57
  first
• 5:57
  one
• 5:57
  was
• 5:57
  fear.
• 5:58
  This
• 5:59
  one
• 5:59
  is
• 5:59
  greed.
• 6:00
  Those
• 6:01
  greed
• 6:01
  driven
• 6:01
  choices
• 6:02
  often
• 6:02
  lead
• 6:02
  to
• 6:03
  buying
• 6:03
  high
• 6:03
  and
• 6:04
  losing
• 6:04
  money.
• 6:06
  And
• 6:06
  that's
• 6:06
  what
• 6:06
  I
• 6:06
  want
• 6:07
  to
• 6:07
  talk
• 6:07
  about
• 6:07
  today.
• 6:07
  Because
• 6:07
  think
• 6:07
  about
• 6:08
  that.
• 6:08
  We
• 6:08
  got
• 6:08
  two
• 6:09
  completely
• 6:09
  opposite
• 6:10
  reactions.
• 6:12
  They're
• 6:12
  so
• 6:12
  important
• 6:13
  in
• 6:14
  investing.
• 6:14
  One
• 6:15
  was
• 6:15
  fear
• 6:15
  and
• 6:15
  one
• 6:16
  was
• 6:16
  greed.
• 6:17
  But
• 6:17
  what's
• 6:17
  the
• 6:17
  underlying
• 6:18
  thing
• 6:18
  in
• 6:18
  this?
• 6:18
  Because
• 6:19
  this
• 6:19
  is
• 6:19
  really
• 6:19
  the
• 6:19
  key
• 6:20
  strategy
• 6:20
  today.
• 6:21
  They
• 6:21
  were
• 6:21
  both
• 6:22
  driven
• 6:22
  by
• 6:23
  emotions,
• 6:23
  not
• 6:24
  strategy.
• 6:26
  And
• 6:26
  both
• 6:26
  of
• 6:27
  them
• 6:27
  ended
• 6:27
  in
• 6:28
  regret.
• 6:29
  So
• 6:30
  let
• 6:30
  me
• 6:30
  ask
• 6:30
  you
• 6:30
  right
• 6:30
  now,
• 6:32
  have
• 6:32
  you
• 6:32
  ever
• 6:32
  made
• 6:32
  a
• 6:32
  money
• 6:33
  move
• 6:33
  you
• 6:33
  regretted
• 6:34
  because
• 6:34
  of
• 6:34
  fear
• 6:34
  or
• 6:35
  greed?
• 6:37
  That's
• 6:37
  a
• 6:37
  tough
• 6:38
  question,
• 6:38
  isn't
• 6:38
  it?
• 6:38
  Because
• 6:39
  I
• 6:39
  have
• 6:39
  to
• 6:39
  ask
• 6:39
  myself
• 6:39
  that
• 6:40
  same
• 6:40
  question.
• 6:40
  Listen,
• 6:40
  I'm
• 6:41
  turning
• 6:41
  the
• 6:41
  spotlight
• 6:42
  on
• 6:42
  me.
• 6:44
  So
• 6:44
  we
• 6:44
  need
• 6:44
  to
• 6:44
  come
• 6:44
  to
• 6:45
  an
• 6:45
  agreement
• 6:45
  here.
• 6:45
  Emotional
• 6:46
  investing
• 6:46
  is
• 6:47
  common,
• 6:47
  but
• 6:48
  it's
• 6:48
  costly.
• 6:50
  We
• 6:51
  got
• 6:51
  to
• 6:51
  break
• 6:51
  that
• 6:51
  emotion.
• 6:53
  So
• 6:53
  you
• 6:53
  might
• 6:53
  be
• 6:53
  saying,
• 6:53
  ralph,
• 6:54
  how
• 6:54
  do
• 6:54
  we
• 6:54
  do
• 6:54
  that?
• 6:54
  Well,
• 6:54
  the
• 6:54
  two
• 6:55
  big
• 6:55
  takeaways
• 6:55
  from
• 6:55
  today,
• 6:56
  write
• 6:56
  these
• 6:56
  things
• 6:57
  down.
• 6:57
  It's
• 6:57
  about
• 6:57
  awareness
• 6:58
  and
• 6:58
  discipline.
• 6:59
  Because
• 6:59
  that's
• 6:59
  the
• 7:00
  antidote
• 7:00
  to
• 7:00
  this.
• 7:00
  When
• 7:00
  you
• 7:00
  have
• 7:01
  a
• 7:01
  virus,
• 7:01
  you.
• 7:01
  You
• 7:01
  go
• 7:02
  to
• 7:02
  the
• 7:02
  doctor,
• 7:02
  they
• 7:02
  give
• 7:03
  you
• 7:03
  an
• 7:03
  antidote,
• 7:03
  they
• 7:03
  give
• 7:04
  you
• 7:04
  medicine.
• 7:05
  Well,
• 7:05
  if
• 7:06
  you
• 7:06
  want
• 7:06
  to
• 7:06
  break
• 7:06
  fear
• 7:06
  and
• 7:07
  greed,
• 7:07
  the
• 7:07
  antidote
• 7:08
  is
• 7:08
  these
• 7:08
  awareness
• 7:09
  and
• 7:09
  discipline.
• 7:10
  But
• 7:11
  I'm
• 7:11
  going
• 7:11
  to
• 7:11
  add
• 7:11
  a
• 7:11
  third
• 7:12
  piece
• 7:12
  of
• 7:12
  the
• 7:12
  antidote.
• 7:13
  A
• 7:13
  lot
• 7:13
  of
• 7:13
  people
• 7:13
  don't
• 7:13
  talk
• 7:13
  about
• 7:13
  this
• 7:14
  in
• 7:14
  the
• 7:14
  normal
• 7:15
  financial
• 7:15
  channels.
• 7:16
  God's
• 7:17
  spirit.
• 7:18
  Because
• 7:19
  with
• 7:19
  God's
• 7:19
  spirit,
• 7:19
  we
• 7:19
  can
• 7:20
  rise
• 7:20
  above
• 7:20
  that
• 7:20
  panic.
• 7:21
  Because
• 7:21
  let
• 7:21
  me
• 7:21
  just
• 7:21
  tell
• 7:21
  you
• 7:21
  something
• 7:22
  right
• 7:22
  now.
• 7:22
  You're
• 7:23
  a
• 7:23
  human
• 7:23
  being,
• 7:23
  you're
• 7:23
  a
• 7:24
  fleshly
• 7:24
  person.
• 7:25
  It's
• 7:26
  natural.
• 7:26
  I'm
• 7:26
  going
• 7:27
  to
• 7:27
  tell
• 7:27
  you
• 7:27
  this
• 7:27
  right
• 7:27
  now
• 7:27
  because
• 7:27
  a
• 7:27
  lot
• 7:28
  of
• 7:28
  people
• 7:28
  don't
• 7:28
  understand
• 7:28
  this
• 7:29
  and
• 7:29
  how
• 7:29
  impactful
• 7:29
  this
• 7:30
  is.
• 7:30
  You
• 7:30
  are
• 7:30
  naturally
• 7:31
  born
• 7:32
  greedy
• 7:32
  and
• 7:32
  you're
• 7:33
  born
• 7:33
  with
• 7:33
  fear.
• 7:34
  That's
• 7:34
  a
• 7:34
  normal
• 7:35
  emotion
• 7:36
  of
• 7:36
  a
• 7:36
  human
• 7:36
  being.
• 7:38
  The
• 7:38
  only
• 7:38
  way
• 7:39
  you
• 7:39
  can
• 7:39
  break
• 7:39
  that
• 7:39
  is
• 7:39
  to
• 7:40
  understand
• 7:40
  God's
• 7:41
  spirit
• 7:42
  and
• 7:42
  rise
• 7:42
  above
• 7:43
  that
• 7:43
  because
• 7:43
  wise,
• 7:43
  peaceful
• 7:44
  decisions
• 7:44
  always
• 7:45
  outperform
• 7:46
  emotional
• 7:46
  ones.
• 7:47
  I
• 7:47
  want
• 7:47
  to
• 7:47
  say
• 7:47
  that
• 7:47
  again
• 7:47
  because
• 7:48
  I
• 7:48
  want
• 7:48
  you
• 7:48
  to
• 7:48
  really
• 7:49
  remember
• 7:49
  this.
• 7:51
  Wise,
• 7:52
  peaceful
• 7:52
  decisions
• 7:53
  always
• 7:53
  outperform
• 7:54
  emotional
• 7:54
  ones.
• 7:55
  And
• 7:55
  a
• 7:56
  legendary
• 7:56
  investor
• 7:57
  named
• 7:57
  Benjamin
• 7:58
  Graham
• 7:58
  said
• 7:58
  this.
• 8:00
  And
• 8:00
  when
• 8:00
  I
• 8:00
  read
• 8:00
  this,
• 8:01
  I
• 8:01
  was
• 8:01
  like,
• 8:01
  man,
• 8:01
  this
• 8:01
  is
• 8:02
  perfect
• 8:02
  for
• 8:02
  today's
• 8:02
  show.
• 8:04
  The
• 8:04
  investor's
• 8:05
  chief
• 8:06
  problem
• 8:06
  and
• 8:07
  even
• 8:07
  his
• 8:07
  worst
• 8:08
  enemy
• 8:10
  is
• 8:10
  likely
• 8:11
  to
• 8:11
  be
• 8:11
  himself.
• 8:12
  I
• 8:12
  started
• 8:13
  the
• 8:13
  show
• 8:13
  with
• 8:13
  that.
• 8:13
  Today
• 8:14
  you're
• 8:14
  looking
• 8:14
  in
• 8:14
  the
• 8:14
  mirror.
• 8:15
  Okay,
• 8:16
  so
• 8:16
  if
• 8:16
  we
• 8:16
  know
• 8:16
  it's
• 8:17
  ourselves,
• 8:17
  if
• 8:18
  we
• 8:18
  know
• 8:18
  it's
• 8:18
  our
• 8:18
  natural
• 8:19
  state
• 8:19
  of
• 8:19
  man,
• 8:19
  it's
• 8:20
  that
• 8:20
  human
• 8:20
  feeling
• 8:21
  of
• 8:21
  fear
• 8:21
  and
• 8:22
  greed,
• 8:23
  how
• 8:23
  do
• 8:23
  we
• 8:23
  ever
• 8:23
  cope
• 8:24
  those
• 8:24
  emotions?
• 8:26
  Well,
• 8:26
  let's
• 8:26
  talk
• 8:26
  about
• 8:26
  those
• 8:26
  emotions
• 8:27
  right
• 8:27
  now
• 8:27
  because
• 8:27
  that's
• 8:28
  where
• 8:28
  we
• 8:28
  need
• 8:28
  to
• 8:28
  start.
• 8:29
  Let's
• 8:29
  start
• 8:29
  with
• 8:30
  fear.
• 8:32
  I
• 8:32
  guarantee
• 8:32
  if
• 8:32
  you're
• 8:33
  listening
• 8:33
  or
• 8:33
  watching
• 8:33
  right
• 8:33
  now,
• 8:34
  you
• 8:34
  felt
• 8:34
  fear.
• 8:36
  You're
• 8:36
  in
• 8:37
  a
• 8:37
  situation
• 8:37
  you
• 8:37
  don't
• 8:38
  know
• 8:38
  a
• 8:38
  lot
• 8:38
  about.
• 8:39
  That's
• 8:39
  fearful
• 8:40
  because
• 8:40
  as
• 8:40
  human
• 8:41
  beings,
• 8:41
  we
• 8:41
  want
• 8:41
  safety.
• 8:43
  So
• 8:43
  let's
• 8:43
  apply
• 8:44
  that
• 8:44
  to
• 8:44
  our
• 8:44
  investments
• 8:46
  or
• 8:46
  fear
• 8:46
  and
• 8:47
  what's
• 8:47
  going
• 8:47
  to
• 8:47
  happen.
• 8:47
  We've
• 8:47
  worked
• 8:48
  so
• 8:48
  hard
• 8:48
  for
• 8:48
  our
• 8:48
  money,
• 8:49
  so
• 8:49
  what
• 8:49
  do
• 8:49
  we
• 8:50
  do?
• 8:50
  We
• 8:50
  let
• 8:50
  that
• 8:50
  fear
• 8:50
  take
• 8:51
  over
• 8:51
  and
• 8:51
  we
• 8:51
  sell
• 8:52
  at
• 8:52
  the
• 8:52
  worst
• 8:52
  possible
• 8:53
  times.
• 8:53
  That's
• 8:53
  what
• 8:53
  my
• 8:54
  client
• 8:54
  did.
• 8:54
  He
• 8:54
  called
• 8:55
  me
• 8:55
  and
• 8:55
  said,
• 8:55
  ralph,
• 8:55
  I
• 8:55
  got
• 8:55
  to
• 8:55
  get
• 8:55
  out
• 8:56
  of
• 8:56
  this.
• 8:56
  I
• 8:56
  can't
• 8:56
  stomach
• 8:56
  this
• 8:57
  anymore.
• 8:57
  That
• 8:58
  fear
• 8:58
  overtook
• 8:59
  his
• 8:59
  good
• 9:00
  sense.
• 9:01
  That
• 9:01
  fear
• 9:02
  overtook
• 9:02
  everything
• 9:03
  that
• 9:03
  was
• 9:03
  wise,
• 9:04
  that
• 9:04
  long
• 9:04
  term
• 9:05
  planning,
• 9:05
  because
• 9:06
  he
• 9:06
  was
• 9:06
  acting
• 9:06
  out
• 9:06
  of
• 9:07
  a
• 9:07
  fear.
• 9:07
  He
• 9:07
  wanted
• 9:07
  to
• 9:08
  not
• 9:08
  be
• 9:08
  in
• 9:09
  that
• 9:09
  terrible,
• 9:09
  unsafe
• 9:10
  position.
• 9:12
  That's
• 9:12
  the
• 9:12
  first
• 9:12
  thing,
• 9:12
  fear.
• 9:13
  But
• 9:13
  the
• 9:13
  other
• 9:13
  one
• 9:13
  is
• 9:13
  greed
• 9:13
  and
• 9:14
  they're
• 9:14
  equally
• 9:14
  working.
• 9:15
  Greed
• 9:16
  pushes
• 9:16
  us
• 9:16
  to
• 9:17
  chase.
• 9:18
  Think
• 9:19
  about
• 9:19
  this.
• 9:20
  You're
• 9:20
  standing
• 9:20
  on
• 9:20
  the
• 9:21
  street,
• 9:22
  just
• 9:22
  stand
• 9:22
  there
• 9:22
  minding
• 9:23
  your
• 9:23
  own
• 9:23
  business,
• 9:23
  and
• 9:23
  all
• 9:23
  of
• 9:23
  a
• 9:24
  sudden
• 9:24
  a
• 9:24
  crowd
• 9:24
  comes
• 9:25
  running
• 9:25
  past
• 9:25
  you.
• 9:27
  Why
• 9:27
  are
• 9:28
  they
• 9:28
  running?
• 9:28
  Well,
• 9:28
  you
• 9:28
  say,
• 9:28
  well,
• 9:29
  I
• 9:29
  better
• 9:29
  start
• 9:29
  running
• 9:29
  too,
• 9:29
  because
• 9:29
  everybody
• 9:30
  else
• 9:30
  is
• 9:30
  running.
• 9:30
  I'm
• 9:30
  going
• 9:30
  to
• 9:30
  jump
• 9:31
  on
• 9:31
  herd
• 9:31
  mentality.
• 9:32
  My
• 9:32
  cows
• 9:32
  do
• 9:32
  that.
• 9:32
  On
• 9:32
  the
• 9:33
  farm
• 9:33
  I
• 9:33
  raised
• 9:33
  Black
• 9:33
  Angus
• 9:34
  beef.
• 9:34
  Here
• 9:35
  the
• 9:35
  cows
• 9:35
  hang
• 9:35
  out
• 9:36
  together.
• 9:36
  They
• 9:36
  herd
• 9:36
  together.
• 9:37
  When
• 9:37
  one
• 9:37
  gets
• 9:38
  spooked,
• 9:38
  they
• 9:38
  all
• 9:38
  start
• 9:38
  running.
• 9:39
  Well,
• 9:40
  greed
• 9:40
  works
• 9:40
  the
• 9:40
  same
• 9:41
  way.
• 9:41
  We
• 9:41
  chase
• 9:41
  after
• 9:42
  those
• 9:42
  things.
• 9:43
  We
• 9:43
  chase
• 9:44
  after
• 9:44
  that
• 9:44
  market.
• 9:44
  Look,
• 9:44
  my
• 9:45
  client
• 9:45
  learned.
• 9:46
  He
• 9:46
  jumped
• 9:46
  back
• 9:46
  into
• 9:46
  the
• 9:47
  market
• 9:47
  when
• 9:47
  prices
• 9:47
  were
• 9:48
  already
• 9:48
  high
• 9:48
  and
• 9:48
  then
• 9:49
  the
• 9:49
  market
• 9:49
  corrected
• 9:49
  and
• 9:50
  he
• 9:50
  lost
• 9:50
  it
• 9:50
  again.
• 9:51
  Because
• 9:52
  that
• 9:52
  herd
• 9:52
  mentality
• 9:53
  convinces
• 9:53
  us
• 9:53
  that,
• 9:54
  listen,
• 9:54
  everyone
• 9:54
  else
• 9:55
  can't
• 9:55
  be
• 9:55
  wrong.
• 9:55
  Ralph,
• 9:57
  they
• 9:57
  must
• 9:57
  know
• 9:58
  something
• 9:58
  I
• 9:58
  don't
• 9:58
  know.
• 9:58
  That
• 9:58
  fear
• 9:59
  of
• 9:59
  missing
• 9:59
  out,
• 9:59
  that's
• 10:00
  one
• 10:00
  of
• 10:00
  the
• 10:00
  new
• 10:00
  key.
• 10:00
  The
• 10:01
  fancy
• 10:01
  words
• 10:01
  that
• 10:01
  young
• 10:02
  people
• 10:02
  use,
• 10:02
  that
• 10:02
  fomo,
• 10:03
  that
• 10:03
  fear
• 10:03
  of
• 10:03
  Missing
• 10:04
  out.
• 10:05
  But
• 10:05
  let
• 10:05
  me
• 10:05
  tell
• 10:06
  you
• 10:06
  something
• 10:06
  right
• 10:06
  now,
• 10:06
  and
• 10:06
  I
• 10:06
  believe
• 10:07
  this
• 10:07
  to
• 10:07
  my
• 10:07
  core,
• 10:08
  crowds
• 10:08
  often
• 10:09
  make
• 10:09
  poor
• 10:09
  choices.
• 10:11
  If
• 10:11
  you're
• 10:11
  running
• 10:12
  with
• 10:12
  the
• 10:12
  crowd,
• 10:12
  you're
• 10:12
  probably
• 10:13
  not
• 10:13
  making
• 10:13
  the
• 10:13
  best
• 10:14
  choices.
• 10:15
  And
• 10:15
  that's
• 10:15
  why
• 10:15
  behavioral
• 10:16
  finance
• 10:16
  is
• 10:17
  so
• 10:17
  important.
• 10:17
  Because
• 10:17
  this
• 10:18
  behavioral
• 10:18
  finance
• 10:19
  discussion
• 10:19
  today
• 10:20
  shows
• 10:20
  how
• 10:20
  our
• 10:20
  emotions,
• 10:21
  they
• 10:21
  lie
• 10:21
  to
• 10:22
  us.
• 10:22
  They
• 10:23
  trick
• 10:23
  us.
• 10:24
  They
• 10:24
  trick
• 10:25
  us
• 10:25
  into
• 10:25
  making
• 10:25
  bad
• 10:25
  decisions
• 10:26
  using
• 10:26
  bad
• 10:27
  timing.
• 10:28
  But
• 10:28
  what's
• 10:28
  the
• 10:28
  antidote?
• 10:29
  It's
• 10:29
  that
• 10:29
  spirit.
• 10:30
  It's
• 10:30
  the
• 10:30
  spirit
• 10:30
  of
• 10:30
  God
• 10:31
  that
• 10:31
  gives
• 10:31
  us
• 10:31
  self
• 10:31
  discipline
• 10:32
  to
• 10:32
  rise
• 10:33
  above
• 10:33
  that
• 10:33
  fear
• 10:34
  and
• 10:34
  greed.
• 10:34
  And
• 10:34
  again,
• 10:35
  as
• 10:35
  I've
• 10:36
  talked
• 10:36
  about
• 10:36
  time
• 10:36
  and
• 10:37
  time
• 10:37
  again
• 10:37
  in
• 10:38
  this
• 10:38
  series,
• 10:39
  it
• 10:39
  comes
• 10:39
  down
• 10:40
  to
• 10:40
  consistency
• 10:41
  and
• 10:41
  it
• 10:41
  comes
• 10:42
  down
• 10:42
  to
• 10:42
  embracing
• 10:43
  a
• 10:43
  plan.
• 10:44
  So
• 10:44
  I
• 10:44
  got
• 10:44
  two
• 10:44
  Bible
• 10:45
  verses
• 10:45
  for
• 10:45
  today.
• 10:45
  The
• 10:46
  first
• 10:46
  one's
• 10:46
  from
• 10:46
  second
• 10:47
  Timothy,
• 10:47
  chapter
• 10:48
  one,
• 10:48
  verse
• 10:48
  seven.
• 10:48
  It
• 10:49
  says
• 10:49
  this.
• 10:49
  For
• 10:49
  the
• 10:49
  spirit
• 10:50
  God
• 10:50
  gave
• 10:51
  us
• 10:51
  does
• 10:51
  not
• 10:51
  make
• 10:52
  us
• 10:52
  timid,
• 10:53
  but
• 10:53
  gives
• 10:53
  us
• 10:54
  power,
• 10:54
  love
• 10:54
  and
• 10:55
  self
• 10:55
  discipline.
• 10:56
  I
• 10:56
  don't
• 10:56
  know
• 10:56
  about
• 10:56
  you
• 10:57
  when
• 10:57
  I
• 10:57
  read
• 10:57
  that.
• 10:58
  It
• 10:59
  gives
• 10:59
  me
• 10:59
  value,
• 11:00
  it
• 11:00
  gives
• 11:00
  me
• 11:00
  determination.
• 11:03
  I
• 11:03
  know
• 11:03
  that
• 11:03
  the
• 11:03
  spirit
• 11:04
  of
• 11:04
  God.
• 11:04
  If
• 11:04
  I
• 11:04
  really
• 11:05
  want
• 11:05
  to
• 11:05
  break
• 11:05
  this
• 11:05
  feeling
• 11:06
  of
• 11:06
  emotion
• 11:06
  and
• 11:06
  fear
• 11:07
  and
• 11:07
  greed,
• 11:08
  how
• 11:08
  do
• 11:09
  I
• 11:09
  get
• 11:09
  that?
• 11:09
  I
• 11:09
  tap
• 11:09
  into
• 11:09
  the
• 11:10
  spirit
• 11:10
  of
• 11:10
  God.
• 11:10
  Because
• 11:10
  what
• 11:10
  does
• 11:10
  it
• 11:10
  say?
• 11:11
  It
• 11:11
  doesn't
• 11:11
  make
• 11:11
  us
• 11:11
  timid,
• 11:11
  it
• 11:12
  gives
• 11:12
  us
• 11:12
  power.
• 11:12
  It
• 11:13
  gives
• 11:13
  us
• 11:13
  power
• 11:13
  to
• 11:13
  conquer
• 11:14
  these
• 11:14
  emotions.
• 11:15
  It
• 11:15
  gives
• 11:15
  us
• 11:16
  love
• 11:16
  and
• 11:16
  it
• 11:16
  gives
• 11:16
  us.
• 11:16
  Hey,
• 11:17
  what's
• 11:17
  the
• 11:17
  big
• 11:17
  takeaway
• 11:18
  here?
• 11:18
  Self
• 11:18
  discipline.
• 11:20
  Self
• 11:20
  discipline
• 11:21
  is
• 11:21
  embracing
• 11:21
  the
• 11:22
  fact
• 11:22
  that
• 11:22
  as
• 11:22
  a
• 11:22
  human
• 11:22
  being,
• 11:23
  you're
• 11:23
  going
• 11:23
  to
• 11:23
  feel
• 11:23
  emotions,
• 11:24
  you're
• 11:25
  going
• 11:25
  to
• 11:25
  feel
• 11:25
  fear,
• 11:25
  you're
• 11:26
  going
• 11:26
  to
• 11:26
  feel
• 11:26
  greed.
• 11:27
  But
• 11:27
  if
• 11:28
  we
• 11:28
  reach
• 11:28
  out
• 11:28
  to
• 11:28
  the
• 11:28
  Lord,
• 11:28
  he'll
• 11:29
  give
• 11:29
  us
• 11:29
  that
• 11:29
  self
• 11:29
  discipline.
• 11:29
  Which
• 11:30
  leads
• 11:30
  me
• 11:30
  to
• 11:30
  Proverbs
• 11:31
  14:16.
• 11:33
  You're
• 11:34
  probably
• 11:34
  thinking,
• 11:34
  Ralph,
• 11:34
  wait
• 11:35
  a
• 11:35
  second,
• 11:35
  I
• 11:35
  know
• 11:35
  that
• 11:35
  verse.
• 11:35
  Let
• 11:36
  me
• 11:36
  read
• 11:36
  it.
• 11:36
  The
• 11:36
  wise
• 11:37
  fear
• 11:37
  the
• 11:37
  Lord
• 11:37
  and
• 11:37
  shun
• 11:38
  evil.
• 11:39
  But
• 11:39
  a
• 11:39
  fool
• 11:40
  is
• 11:40
  hot
• 11:40
  headed
• 11:41
  and
• 11:41
  yet
• 11:41
  feels
• 11:42
  secure.
• 11:43
  I'm
• 11:43
  going
• 11:43
  to
• 11:43
  say
• 11:44
  something
• 11:44
  kind
• 11:44
  of
• 11:44
  brash.
• 11:45
  Don't
• 11:45
  be
• 11:45
  a
• 11:45
  fool,
• 11:47
  be
• 11:47
  wise,
• 11:48
  shun
• 11:49
  evil.
• 11:50
  Because
• 11:50
  what
• 11:50
  does
• 11:50
  the
• 11:51
  scripture
• 11:51
  tell
• 11:51
  us?
• 11:51
  A
• 11:51
  fool,
• 11:52
  a
• 11:52
  person
• 11:52
  that
• 11:53
  only
• 11:53
  acts
• 11:53
  out
• 11:53
  of
• 11:53
  emotion.
• 11:54
  Listen,
• 11:54
  I've
• 11:54
  been
• 11:54
  there
• 11:54
  in
• 11:55
  my
• 11:55
  own
• 11:55
  life.
• 11:56
  If
• 11:56
  I
• 11:56
  look
• 11:57
  back
• 11:57
  into
• 11:57
  the
• 11:57
  things
• 11:57
  that
• 11:58
  I've
• 11:58
  made,
• 11:58
  emotional
• 11:58
  decisions,
• 11:59
  what
• 11:59
  I
• 11:59
  was
• 11:59
  as
• 12:00
  a
• 12:00
  hothead,
• 12:01
  I
• 12:02
  felt
• 12:02
  secure
• 12:02
  in
• 12:02
  those
• 12:03
  decisions,
• 12:03
  man.
• 12:03
  But
• 12:03
  those
• 12:03
  were
• 12:04
  completely
• 12:04
  the
• 12:05
  wrong
• 12:05
  decisions
• 12:05
  to
• 12:06
  make.
• 12:06
  The
• 12:06
  antidote
• 12:07
  is
• 12:07
  that
• 12:08
  spirit
• 12:08
  of
• 12:09
  God.
• 12:10
  Why
• 12:10
  about
• 12:10
  we
• 12:10
  pray
• 12:10
  together
• 12:11
  right
• 12:11
  now?
• 12:12
  Lord,
• 12:13
  we
• 12:13
  come
• 12:13
  to
• 12:13
  you
• 12:13
  right
• 12:13
  now
• 12:14
  and
• 12:14
  we're
• 12:14
  battling
• 12:15
  these
• 12:15
  natural
• 12:15
  human
• 12:16
  emotions,
• 12:17
  these
• 12:17
  things
• 12:17
  that
• 12:17
  lead
• 12:18
  us
• 12:18
  to
• 12:18
  making
• 12:18
  bad
• 12:18
  decisions.
• 12:19
  That
• 12:19
  idea
• 12:19
  of
• 12:20
  fear
• 12:20
  and
• 12:20
  that
• 12:20
  idea
• 12:21
  of
• 12:21
  greed,
• 12:21
  Lord.
• 12:21
  So
• 12:21
  we
• 12:22
  just
• 12:22
  ask
• 12:22
  you
• 12:22
  right
• 12:22
  now
• 12:23
  for
• 12:23
  self
• 12:23
  discipline,
• 12:24
  self
• 12:25
  discipline
• 12:25
  in
• 12:25
  our
• 12:25
  lives
• 12:26
  and
• 12:26
  especially
• 12:26
  self
• 12:27
  discipline
• 12:27
  in
• 12:27
  our
• 12:28
  financial
• 12:28
  decisions.
• 12:29
  We
• 12:30
  ask
• 12:30
  you
• 12:30
  right
• 12:30
  now
• 12:30
  to
• 12:30
  help
• 12:30
  us
• 12:31
  to
• 12:31
  overcome
• 12:31
  fear
• 12:31
  and
• 12:32
  help
• 12:32
  us
• 12:32
  to
• 12:32
  overcome
• 12:33
  greed,
• 12:33
  those
• 12:33
  natural
• 12:34
  human
• 12:34
  emotions.
• 12:35
  But
• 12:36
  help
• 12:36
  us
• 12:36
  to
• 12:36
  really
• 12:36
  embrace
• 12:37
  that
• 12:37
  spirit
• 12:37
  of
• 12:38
  you,
• 12:38
  Lord.
• 12:39
  And
• 12:39
  we
• 12:40
  just
• 12:40
  thank
• 12:40
  you
• 12:40
  for
• 12:40
  giving
• 12:41
  us
• 12:41
  peace
• 12:42
  even
• 12:42
  amidst
• 12:42
  the
• 12:43
  storms,
• 12:43
  when
• 12:43
  the
• 12:43
  markets
• 12:44
  feel
• 12:44
  uncertain,
• 12:44
  when
• 12:44
  we
• 12:44
  see
• 12:45
  the
• 12:45
  downsides
• 12:45
  around
• 12:46
  us,
• 12:46
  when
• 12:46
  we
• 12:46
  hear
• 12:46
  that
• 12:47
  noise
• 12:47
  just
• 12:47
  coming
• 12:47
  out
• 12:48
  in
• 12:48
  all
• 12:48
  directions.
• 12:49
  Lord,
• 12:49
  help
• 12:49
  us
• 12:49
  to
• 12:49
  ground
• 12:50
  ourselves,
• 12:50
  to
• 12:50
  anchor
• 12:51
  ourselves
• 12:51
  in
• 12:51
  you.
• 12:52
  And
• 12:52
  we
• 12:53
  ask
• 12:53
  this
• 12:53
  in
• 12:53
  confidence
• 12:54
  in
• 12:54
  the
• 12:54
  name
• 12:54
  of
• 12:54
  Jesus.
• 12:56
  Amen.
• 12:57
  All
• 12:58
  right,
• 12:58
  well,
• 12:58
  here's
• 12:58
  my
• 12:58
  action
• 12:59
  step
• 12:59
  for
• 12:59
  today.
• 13:00
  Pretty
• 13:00
  simple.
• 13:00
  I
• 13:01
  want
• 13:01
  you
• 13:01
  to
• 13:01
  write
• 13:01
  down
• 13:01
  one
• 13:02
  emotional
• 13:02
  money
• 13:02
  mistake
• 13:03
  you've
• 13:03
  made
• 13:03
  in
• 13:03
  the
• 13:03
  past.
• 13:04
  Listen,
• 13:04
  if
• 13:04
  I
• 13:04
  did
• 13:04
  this,
• 13:05
  I'd
• 13:05
  have
• 13:05
  a
• 13:05
  list
• 13:06
  of
• 13:06
  them.
• 13:06
  I've
• 13:07
  made
• 13:07
  a
• 13:07
  bunch
• 13:07
  of
• 13:07
  them
• 13:07
  today.
• 13:08
  I
• 13:08
  just
• 13:08
  want
• 13:08
  you
• 13:08
  to
• 13:08
  make,
• 13:09
  just
• 13:09
  write
• 13:09
  down
• 13:09
  one
• 13:10
  emotional
• 13:10
  mistake.
• 13:11
  But
• 13:12
  that's
• 13:12
  not
• 13:12
  the
• 13:12
  key
• 13:12
  to
• 13:12
  this.
• 13:13
  Then
• 13:13
  I
• 13:14
  want
• 13:14
  you
• 13:14
  to
• 13:14
  pray
• 13:14
  about
• 13:14
  it.
• 13:16
  Pray
• 13:16
  for
• 13:16
  wisdom,
• 13:17
  pray
• 13:17
  for
• 13:17
  that
• 13:17
  self
• 13:18
  discipline
• 13:18
  so
• 13:18
  that
• 13:19
  you
• 13:19
  don't
• 13:19
  make
• 13:19
  that
• 13:20
  same
• 13:20
  emotional
• 13:21
  mistake
• 13:21
  that
• 13:22
  the
• 13:22
  next
• 13:22
  time
• 13:23
  just
• 13:23
  leave
• 13:23
  it
• 13:23
  at
• 13:23
  the
• 13:23
  foot
• 13:24
  of
• 13:24
  the
• 13:24
  cross
• 13:24
  and
• 13:24
  say,
• 13:24
  God,
• 13:25
  here's
• 13:25
  what
• 13:25
  I
• 13:25
  did
• 13:25
  last
• 13:26
  time.
• 13:26
  Help
• 13:26
  me
• 13:26
  not
• 13:26
  to
• 13:27
  do
• 13:27
  that.
• 13:28
  Because
• 13:28
  emotions,
• 13:29
  fear,
• 13:30
  greed,
• 13:30
  that
• 13:30
  herd
• 13:31
  mentality
• 13:31
  are
• 13:32
  major
• 13:32
  investing
• 13:33
  pitfalls.
• 13:34
  But
• 13:35
  like
• 13:35
  I
• 13:35
  said
• 13:35
  earlier,
• 13:35
  the
• 13:35
  antidote
• 13:36
  is
• 13:36
  awareness
• 13:37
  and
• 13:37
  discipline.
• 13:37
  Those
• 13:38
  are
• 13:38
  the
• 13:38
  things
• 13:38
  that
• 13:38
  protect
• 13:38
  us
• 13:39
  from
• 13:39
  making
• 13:39
  those
• 13:40
  costly
• 13:40
  mistakes.
• 13:41
  Because
• 13:41
  what
• 13:41
  did
• 13:41
  the
• 13:41
  scripture
• 13:42
  tell
• 13:42
  us?
• 13:42
  God
• 13:42
  gives
• 13:43
  us
• 13:43
  power,
• 13:43
  God
• 13:44
  gives
• 13:44
  us
• 13:44
  love,
• 13:45
  and
• 13:45
  he
• 13:45
  gives
• 13:45
  us
• 13:45
  self
• 13:46
  discipline
• 13:46
  to
• 13:46
  overcome
• 13:47
  things,
• 13:47
  financial
• 13:48
  anxiety.
• 13:49
  And
• 13:49
  if
• 13:49
  you
• 13:49
  want
• 13:50
  peace,
• 13:51
  let
• 13:51
  me
• 13:51
  tell
• 13:51
  you
• 13:51
  right
• 13:51
  now,
• 13:52
  friend,
• 13:52
  peaceful
• 13:53
  decisions
• 13:54
  always
• 13:54
  outperform
• 13:54
  panic
• 13:55
  driven
• 13:55
  ones.
• 13:57
  So
• 13:57
  while
• 13:57
  fear,
• 13:58
  greed
• 13:58
  and
• 13:58
  her
• 13:58
  mentality
• 13:59
  can
• 13:59
  derail
• 13:59
  our
• 13:59
  investing
• 14:00
  and
• 14:00
  listen
• 14:00
  to
• 14:00
  me,
• 14:00
  if
• 14:00
  you
• 14:00
  heard
• 14:01
  nothing
• 14:01
  else
• 14:01
  I
• 14:01
  said
• 14:01
  today,
• 14:02
  they
• 14:02
  will
• 14:02
  derail
• 14:03
  your
• 14:04
  investing.
• 14:05
  But
• 14:05
  God's
• 14:06
  equipped
• 14:06
  us
• 14:06
  with
• 14:06
  something
• 14:07
  so
• 14:07
  much
• 14:07
  better.
• 14:07
  He's
• 14:08
  equipped
• 14:08
  us
• 14:08
  with
• 14:08
  awareness
• 14:09
  and
• 14:09
  self
• 14:10
  discipline
• 14:10
  to
• 14:10
  make
• 14:11
  wiser,
• 14:11
  more
• 14:12
  peaceful
• 14:12
  financial
• 14:12
  choices.
• 14:14
  Now
• 14:14
  tomorrow
• 14:15
  we're
• 14:15
  going
• 14:15
  to
• 14:15
  change
• 14:15
  it
• 14:16
  up
• 14:16
  a
• 14:16
  little
• 14:16
  bit.
• 14:17
  I'm
• 14:17
  going
• 14:17
  to
• 14:17
  address
• 14:18
  some
• 14:18
  people
• 14:18
  who
• 14:18
  have
• 14:18
  said
• 14:18
  to
• 14:19
  me,
• 14:19
  ralph,
• 14:19
  all
• 14:19
  you
• 14:19
  talk
• 14:20
  about
• 14:20
  is
• 14:20
  greed
• 14:20
  and
• 14:20
  making
• 14:21
  more
• 14:21
  money.
• 14:22
  No,
• 14:23
  tomorrow
• 14:23
  we're
• 14:23
  going
• 14:23
  to
• 14:24
  talk
• 14:24
  about
• 14:24
  investing
• 14:24
  with
• 14:25
  generosity
• 14:26
  and
• 14:26
  we're
• 14:26
  going
• 14:26
  to
• 14:26
  talk
• 14:26
  about
• 14:27
  how
• 14:27
  to
• 14:27
  tie
• 14:27
  this
• 14:27
  into
• 14:27
  tithing
• 14:28
  and
• 14:28
  giving
• 14:29
  from
• 14:30
  your
• 14:30
  growth.
• 14:31
  I
• 14:31
  got
• 14:31
  a
• 14:31
  great
• 14:31
  listener
• 14:32
  question.
• 14:32
  They
• 14:32
  asked
• 14:32
  me
• 14:33
  a
• 14:33
  really
• 14:33
  tough
• 14:33
  question,
• 14:34
  but
• 14:34
  you
• 14:34
  got
• 14:34
  to
• 14:34
  tune
• 14:35
  in
• 14:35
  tomorrow
• 14:35
  to
• 14:35
  catch
• 14:35
  it.
• 14:36
  We're
• 14:36
  going
• 14:36
  to
• 14:36
  talk
• 14:36
  about
• 14:36
  how
• 14:37
  this
• 14:37
  investment
• 14:38
  growing
• 14:38
  can
• 14:39
  actually
• 14:39
  be
• 14:39
  tied
• 14:40
  into
• 14:40
  your
• 14:40
  giving.
• 14:40
  It's
• 14:40
  going
• 14:41
  to
• 14:41
  be
• 14:41
  a
• 14:41
  great
• 14:41
  show
• 14:41
  tomorrow
• 14:42
  as
• 14:43
  I'm
• 14:43
  talking
• 14:43
  about
• 14:43
  the
• 14:43
  show
• 14:44
  one
• 14:44
  of
• 14:44
  the
• 14:44
  things
• 14:44
  that
• 14:44
  you
• 14:45
  can
• 14:45
  do
• 14:45
  for
• 14:45
  me.
• 14:45
  I
• 14:45
  give
• 14:45
  a
• 14:46
  lot
• 14:46
  to
• 14:46
  you
• 14:46
  as
• 14:46
  I
• 14:46
  do
• 14:46
  these
• 14:47
  shows
• 14:47
  every
• 14:47
  day.
• 14:48
  Do
• 14:48
  me
• 14:48
  a
• 14:48
  favor
• 14:48
  and
• 14:48
  share
• 14:49
  this
• 14:49
  show
• 14:49
  with
• 14:49
  a
• 14:49
  friend.
• 14:50
  Share
• 14:51
  with
• 14:51
  somebody
• 14:51
  who
• 14:51
  has
• 14:52
  that
• 14:52
  feeling
• 14:52
  of
• 14:52
  fear
• 14:53
  or
• 14:53
  greed
• 14:53
  or
• 14:53
  that
• 14:54
  emotional
• 14:54
  money
• 14:55
  decisions.
• 14:56
  So
• 14:56
  many
• 14:56
  people
• 14:56
  live
• 14:57
  in
• 14:57
  that
• 14:57
  fear
• 14:57
  and
• 14:57
  that
• 14:58
  greed
• 14:58
  and
• 14:58
  that
• 14:59
  feeling.
• 14:59
  What
• 14:59
  did
• 15:00
  the
• 15:00
  statistics
• 15:00
  say?
• 15:01
  So
• 15:01
  many
• 15:02
  people
• 15:02
  are
• 15:02
  living
• 15:02
  with
• 15:02
  that
• 15:02
  emotion.
• 15:03
  Just
• 15:03
  send
• 15:03
  them
• 15:03
  to
• 15:03
  our
• 15:04
  website.
• 15:04
  You
• 15:05
  can
• 15:05
  send
• 15:05
  them
• 15:05
  to
• 15:05
  financiallyconfidentchristian.com
• 15:08
  make
• 15:08
  sure
• 15:08
  they
• 15:09
  subscribe
• 15:10
  and
• 15:10
  never
• 15:10
  miss
• 15:10
  an
• 15:10
  episode.
• 15:11
  And
• 15:12
  here's
• 15:12
  another
• 15:12
  thing
• 15:12
  you
• 15:12
  can
• 15:12
  do
• 15:12
  for
• 15:12
  me.
• 15:13
  One
• 15:13
  of
• 15:13
  the
• 15:13
  things
• 15:13
  that
• 15:13
  you
• 15:13
  could
• 15:13
  really
• 15:14
  help
• 15:14
  me
• 15:14
  with
• 15:14
  is
• 15:14
  leave
• 15:15
  a
• 15:15
  review
• 15:15
  about
• 15:15
  the
• 15:15
  show.
• 15:16
  Wherever
• 15:16
  you
• 15:17
  listen
• 15:17
  to
• 15:17
  the
• 15:17
  show
• 15:17
  go,
• 15:17
  leave
• 15:18
  a
• 15:18
  review.
• 15:18
  You
• 15:18
  can
• 15:18
  go
• 15:18
  right
• 15:18
  to
• 15:18
  our
• 15:19
  website,
• 15:19
  leave
• 15:19
  a
• 15:20
  review,
• 15:20
  talk
• 15:20
  about
• 15:21
  how
• 15:21
  the
• 15:21
  show's
• 15:21
  helping
• 15:22
  you.
• 15:22
  Talk
• 15:22
  about
• 15:22
  how
• 15:23
  the
• 15:23
  show's
• 15:23
  impacting
• 15:24
  you.
• 15:25
  Because
• 15:25
  listen,
• 15:26
  people
• 15:26
  see
• 15:26
  those
• 15:26
  reviews
• 15:27
  and
• 15:27
  they're
• 15:27
  impacted
• 15:28
  by
• 15:28
  those.
• 15:28
  It'll
• 15:29
  lead
• 15:29
  us
• 15:29
  to
• 15:29
  more
• 15:30
  people
• 15:30
  understanding
• 15:31
  what
• 15:31
  we
• 15:31
  do
• 15:31
  here.
• 15:32
  And
• 15:33
  one
• 15:33
  more
• 15:33
  thing
• 15:33
  I'm
• 15:33
  going
• 15:33
  to
• 15:33
  encourage
• 15:34
  you
• 15:34
  to
• 15:34
  do
• 15:34
  because
• 15:35
  there's
• 15:35
  power
• 15:35
  in
• 15:35
  prayer,
• 15:36
  pray
• 15:36
  for
• 15:36
  one
• 15:36
  person
• 15:37
  you
• 15:37
  can
• 15:37
  right
• 15:37
  today,
• 15:38
  stop
• 15:38
  what
• 15:39
  you're
• 15:39
  doing
• 15:39
  right
• 15:39
  now
• 15:39
  and
• 15:39
  pray
• 15:39
  for
• 15:40
  that
• 15:40
  person.
• 15:41
  Encourage
• 15:41
  them
• 15:42
  by
• 15:42
  passing
• 15:43
  along
• 15:43
  today's
• 15:43
  message
• 15:44
  that
• 15:44
  they
• 15:44
  don't
• 15:44
  have
• 15:44
  to
• 15:45
  live
• 15:45
  in
• 15:45
  fear
• 15:45
  anymore.
• 15:47
  Because
• 15:47
  the
• 15:47
  truth
• 15:48
  is,
• 15:48
  fear
• 15:48
  and
• 15:48
  greed
• 15:48
  don't
• 15:49
  have
• 15:49
  to
• 15:49
  rule
• 15:49
  our
• 15:49
  money
• 15:50
  choices
• 15:51
  with
• 15:51
  God's
• 15:52
  spirit.
• 15:52
  And
• 15:52
  I
• 15:52
  truly
• 15:53
  believe
• 15:53
  this,
• 15:53
  and
• 15:53
  I
• 15:53
  want
• 15:53
  you
• 15:53
  to
• 15:54
  believe
• 15:54
  this
• 15:54
  now
• 15:54
  you
• 15:55
  can
• 15:55
  invest
• 15:55
  with
• 15:55
  peace
• 15:56
  and
• 15:56
  you
• 15:56
  can
• 15:57
  invest
• 15:57
  with
• 15:57
  discipline
• 15:57
  and
• 15:58
  you
• 15:58
  can
• 15:58
  finally
• 15:58
  live
• 15:58
  at
• 15:59
  peace.
• 15:59
  So
• 16:00
  I
• 16:00
  encourage
• 16:00
  you
• 16:00
  today,
• 16:00
  go
• 16:01
  out
• 16:01
  there
• 16:01
  and
• 16:01
  live
• 16:01
  as
• 16:02
  a
• 16:02
  financially
• 16:02
  confident
• 16:03
  Christian.
• 16:03
  Stay
• 16:04
  financially
• 16:04
  savvy.
• 16:05
  God
• 16:05
  bless
• 16:05
  you
• 16:05
  and,
• 16:06
  and
• 16:06
  you
• 16:06
  have
• 16:06
  a
• 16:06
  great
• 16:07
  day
• 16:07
  today
• 16:07
  and
• 16:07
  I'll
• 16:08
  see
• 16:08
  you
• 16:08
  tomorrow.