Predictions and projections we make about money are always wrong. In fact, they are wrong from the minute they’re produced. So why do financial advisers use them, if they’re never right? In this episode, Michael and Dallas look at why projections are important, and how to use them even when we know they will be incorrect.

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On average, we see a drop in company prices of about 30% every 5 years. If you’ve listened to us for a while, you’ll know we often talk about not panicking when this happens. But why is this important, and exactly how important is it? In this episode we discuss how not preparing for a drop in the share market is like not listening to the lifeboat drill on a cruise ship. Spoiler alert: it doesn’t end well.

If you wanted to lose weight, would you sit on the couch eating donuts, or have a salad and do some exercise? The answer is simple, yet many people don’t achieve their goals. Often, we want things to happen right away. This is instant gratification. And like losing weight, saving money and preparing for retirement is a long game. 

In this episode, Dallas and Michael discuss the difficulties of investing in the long term – and why some people succeed while others don’t.