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Published on:

7th Mar 2024

ENCORE: Avoid These 3 Mistakes The Average Investor Makes

Today’s show focuses on one of my favorite topics, which is personal finance. Investing can be overwhelming and very confusing. Join us to learn how anyone can approach investing with knowledge and confidence.

Our Featured Guest:

Andy Gupta

Andy Gupta and I have become good friends over the past couple of months. He is a kind and genuine person who worked for 20 years on Wall Street. He is a graduate of Harvard Business School who understands the ins and outs of investing, and he wants to make investing more approachable for average people. Andy has a particular passion for helping women understand investing, and he looks to use his wealth in ways that help others.

Andy’s 30-day investing course: Anyone Can Invest Now

Andy's Facebook Group: https://www.facebook.com/groups/418356686326993

Andy's LinkedIn: http://linkedin.com/in/andy-gupta

You’ll Learn:

  • Andy’s background of growing up in a family without wealth in Mumbai, India, and then going to college in the US while holding multiple jobs to make ends meet
  • Why Andy feels that his mission is to help others with investing so they can achieve financial security and freedom
  • Why Andy’s definition of financial freedom revolves around increased time spent with his family, creating a financial safety net for them, and making a positive impact on others
  • Three mistakes that the average investor makes:
  • Trying to “time” the market
  • “This is a fool’s errand. The difference in trying to time the market vs. staying in for the long haul is astronomical.”
  • Believing that cash in the bank is safe
  • You are guaranteed to lose money every year because of inflation.
  • Taking on too much risk by overexposing themselves in one area
  • It's best to mix asset classes to reduce your risk and potentially increase your return for the level of risk
  • Andy’s tips for investing smartly:
  • Have a cash reserve on hand.
  • Diversity by investing in asset classes that don’t “move together.”

Resources:

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https://sellingthecouch.com/jointhehealthcasters  

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About the Podcast

Selling the Couch
Impact + Income Beyond The Therapy Room
With over 1.5 million downloads, Selling the Couch is a top podcast for mental health private practitioners who think differently.

Psychologist Melvin Varghese interviews successful therapists, top entrepreneurs, business/marketing, productivity, and social media experts.

You'll learn how therapists get referrals, make money, work through fears, and how they've stopped "trading time for income."

Melvin also shares the lessons as he grows his impact + income beyond the therapy room (podcasting, video, online courses, masterminds, investing, etc) and the tips, tools, and tech he uses to grow STC from a single-person business to the CEO of a 5-person 100% remote team.

You get bite-sized and highly actionable tips to guide your private practice and entrepreneurial journey.

About your host

Profile picture for Melvin Varghese, PhD

Melvin Varghese, PhD

Hi. I'm Melvin. I'm a psychologist, girl dad, and online creator living in Philadelphia, PA.

In 2014, I began to think about how to use our therapist skillset in different realms besides clinical work (e.g., podcasting, consulting, online course creation, writing, etc).

This allows us to serve others on larger scales while diversifying our income beyond 1 to 1 work.

I make podcasts and videos about business, tech, productivity, and lessons I'm learning from becoming the CEO of a lean, mean 5 person 100% remote team (we're not really mean..it just rhymed =P).