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Description:
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In this episode we jump into the always fascinating topic of recessions and market downturns. How should we deal with these disruptions on our FIRE journey? What should we do with our investments?
(note: some details regarding the coronavirus have changed since we recorded this episode)
During the show, we discuss... - Who could have predicted our life in 2020? (02:44)
- Are recession forecasts worth listening to? (05:25)
- Pat explains the real definition of Murphy's Law (10:36)
- Market timing - why can't we avoid the downturns? (16:05)
- Investing while markets are 'expensive' (23:28)
- Anecdotes, Aussie punters and bubble stocks (29:48)
- Market returns and cherry-picking start and end dates (32:47)
- Our best advice for dealing with fear and uncertainty (34:18)
- Summary and key takeaways (44:12)
- Listener question: How do we track and manage our spending? (47:35)
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