Ep. 17 How to Turn $8k into $6 Billion

On this week’s show we discuss one of the craziest financial stories of the year, how an “investor” turned a $8,000 investment into $5.7 billion dollars! We also examine a retirement article from the Motley Fool about Dangerous Retirement Myths. Are the main stream financial media articles about retirement worth paying attention to? We’ll let you know in this week’s episode.

Outline of this episode:

[1:15] Weekly Money Bible Verse [2:00] Dangerous Retirement Myths [2:15] Retirement Myth 1 [3:53] Retirement Myth 2 [5:11] Retirement Myth 3 [6:30] Retirement Myth 4 [9:20] How to turn $8k into $6 billion

In summary, it’s always best to do the extra research or hire a respected financial planner when it comes to your retirement plans so that you do not fall into the trap of relying on inaccurate information that sounds true but will lead you to make costly mistakes with your hard-earned retirement money.

If you missed last week’s Christian Retirement Show all about Social Security, be sure to go back and check that episode out here. In the episode we dive into whether social security is something you can rely on as you plan for retirement despite the fact that the Social Security Administration has projected the social security trust fund to be insolvent within 15 years.

While this may sound scary, as a financial planner I share my thoughts around why I think retirees can rest soundly knowing their social security benefits will not be taken away.

Resources mentioned in this episode:

Motley Fool Website: https://www.fool.com/

Motley Fool Article on Retirement Myths: https://www.fool.com/retirement/2021/11/09/dontbuy-into-these-dangerous-retirement-money-myt/

Last Podcast Episode on Social Security: https://www.christianretirementplanner.com/blog-01/christian-retirement-show-ep-16-social-security-going-run-out

Christian Retirement Planner Website: https://www.christianretirementplanner.com/

Eric’s Twitter: https://twitter.com/EricSchrum

Linkedin: https://www.linkedin.com/in/ericschrum/