295: Avoid These 3 Mistakes The Average Investor Makes

I’m excited to begin a new year and a new season with you! While we were on the holiday break, STC hit a huge milestone of 1.2 million downloads, which is unbelievable to me. I’m so grateful for the success of STC and being able to offer this resource. 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 GuptaAndy 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 to help women understand investing, and he looks to use his wealth in ways that help others.Andy’s 30-day investing course: Anyone Can Invest NowAndy's Facebook Group: https://www.facebook.com/groups/418356686326993Andy's LinkedIn: http://linkedin.com/in/andy-guptaYou’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.”Today's Podcast Sponsor: WellerzWellerz is an innovative idea that addresses two big problems that therapists have when it comes to office space. First, if you own office space, being able to rent it out for hours you're not using it in order to supplement our therapy income. Second, if you're looking for office space, being able to rent it by the hour vs. a chunk of time like .5 day of full-day, which may not make sense and/or is cost-prohibitive (e.g., if you're just starting out in private practice). Wellerz addresses both through an easy-to-navigate website where therapists can list their office space, easily screen clinicians who would be using it, and get paid. Listing is office space is free + Wellerz only makes money if an office space is booked. And if you're a clinician looking for office space, Wellerz makes it easy to find + rent office space by the hour.To learn more + get a 1-hour free credit to book anywhere (for STC fans only), please check out https://sellingthecouch.com/wellerzRESOURCES TO GUIDE YOUR BUSINESS JOURNEY Disclosures: Please note that all opinions are my own and based on my personal experience. Sponsors are acknowledged. Some links in the description are affiliate links where if you click on one of the product links, I’ll receive a commission at no additional cost to you. I use these funds to continue to create helpful content to serve our field. As an Amazon Associate, I earn a small commission from qualifying purchases.MY FREE ONLINE WORKSHOPS (These Can Be Watched At A Date/Time That Works For You):🎙️ Using Podcasting To Grow Your Business (Lessons Learned From 9 Downloads On Day 1 To 1.2 Million And a 7 Income Stream Business)💻 How To Launch And Grow A Successful Online Course (Lessons Learned From A $297 First Sale To $150k Online Course)MY FREE GUIDES:🎤 Start your Podcast: The QuickStart Guide 🖥️ The A To Z Online CourseMY COURSES:🎧 The Healthcasters (A podcasting course + community for helpers/healers): 💻 Online Course School (A course to create, sell, and grow a successful online course): COMING IN 2022 (please feel free to download the online guide course above and I can keep you updated as I'm trying to build this with ample input and care including the change to build your course surrounded by like-minded colleagues!): MY FAVORITE SOFTWARE:🧳 My Podcast Hosting Platform (Captivate-Includes 7 Day Free Trial): 🚀 My All In One Online Business Platform (Kartra-Includes 14 Day Free Trial): 🤖 What I Use For Evergreen Webinars (Easy Webinar)🌐 My Website Host (SiteGround-Includes Discount)🎨 My WebSite Theme (Divi)MY FAVORITE GEAR:❤️ STC Home Office Tour! 📔 My Online Counseling + Coaching Gear🎥 My YouTube + Live Streaming Camera GearSUBSCRIBE TO THE STC PODCAST:Since 2015, I've hosted a weekly podcast where I interview successful therapists in private practice and other business owners to help us grow our impact + income in and beyond the therapy room. The podcast has been downloaded over 1.2 million times and is heard in over 140 countries.You can find also it by searching “Selling The Couch” on any podcast app (eg: Apple Podcasts, Google Podcasts, Spotify etc) or simply saying "Alexa, listen to Selling The Couch" on your Amazon device. =Or simply click below for ease =). SUBSCRIBE HERELET'S BE FRIENDS:💌 Sign up to receive the free A To Z Online Course Guide + receive the weekly STC email newsletter (trusted by over 7k colleagues) 🌍 My website / blog📸 Instagram (I mainly post "behind the scenes" stuff about my life and business)WHO'S THIS GUY? Hi. I'm Melvin. I'm a psychologist (PhD), entrepreneur, and online creator living in Philadelphia, PA. In 2014, I began to think about how to use the therapy skills we learn in grad school, and in our clinical work into different realms (e.g., podcasting, consulting, online course creation, 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).Mentioned in this episode:Sign up for the new online course workshop of a small launch to a $300K course at https://sellingthecouch.com/onlinecourseworkshopSign up for the new online course workshop of a small launch to a $300K course at https://sellingthecouch.com/onlinecourseworkshopTry Alma!Building and managing the practice you truly want can feel...