Ep 32: How Fear and Pessimism Sell

Financial media often uses fear and pessimism when reporting. It drives ratings and sells. But watching too much of that could be harming your financial peace of mind.
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Show Notes For This Episode

On this episode of Saving the American Dream, we’re talking about how financial media uses fear and pessimism to drive ratings and how it affects your investing peace of mind.

Whether you tune into Fox Business, CNBC or something else, their job is not to get you the highest rate of return on your money. Their job is to sell advertising, and they use fear to get more viewers.

Fear and negativity get better ratings than optimism and positivity. Fear and negativity also breed more activity in investor portfolios, and more activity inside of a portfolio creates more fees and commissions for the financial services industry in general.

So as money moves, that’s how revenues get generated for the financial companies that are primary advertisers of media websites and TV channels.

Money is the cause of a lot of anxiety for people, and a lot of that can be traced to the information that we’re absorbing from these media companies and the dysfunctional narrative that they’re providing. It’s destroying our peace of mind.

Possible market crashes are one thing media loves to talk about. But what market crashes can actually do is they can create opportunities for those with patience, courage and fortitude. Because one of the best times to buy stocks is in a crash.

Listen to the full podcast or use the timestamps below to jump to a specific section.

Navigating the Show

[2:11] – Facts about financial media

[5:52] – Money anxiety and Mark Cuban

[9:38] – Magazine covers

[13:58] – Predicting collapse

[18:03] – True bottom

[21:20] – A time to panic?

[23:45] – Checking with clients

 

Fear and negativity get better ratings than optimism and positivity.

– Michael Schulte

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Copyright 2020 Saving The American Dream Podcast. Michael Schulte is an investment advisor representative and certified exit planner with WestPac Wealth Partners, located at 330 South Center Street, Suite 344, Casper, Wyoming 82601. The podcast is for informational purposes only. Individual risks and investment objectives must be reviewed prior to making any recommendations. Podcasts are for informational purposes only. Any guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or WestPac Wealth Partners and opinions stated are their own. Guardian, its subsidiaries, agents, and employees do not provide tax, legal or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Michael is a Registered and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 5 Centerpointe Dr Suite 150, Lake Oswego, OR 97035, 503-207-4550. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WestPac Wealth Partners is not an affiliate or subsidiary of PAS or Guardian. 2022-140225 Exp 7/24