Just Invest!
In this episode, Don and Tom tackle investor emotion during market highs and use a Schwab-inspired scenario to show how discipline beats market timing—every time. They walk through four fictional investors (lucky, disciplined, unlucky, and fearful) to reveal the long-term value of staying invested. The hosts also answer a listener’s question about breaking into the fiduciary advice world and finish with a blistering takedown of FIBA, a so-called fiduciary group pushing high-commission annuities to federal workers. This one’s part reality check, part rally cry.
0:04 Emotional investing and the danger of reacting to market highs
1:13 Why timing the market is so tempting—and so wrong
2:35 Four investor scenarios: lucky, disciplined, unlucky, and the guy who sat it out
5:03 20-year returns: how even the worst timing beat sitting in T-bills
6:25 Discipline as a risk-reduction strategy and emotional filter
8:16 Worst-case fear vs real-world data: even the unlucky come out ahead
9:21 Market rebounds: faster than most think, from 2008 to 2025
10:28 The fourth golden rule: Discipline beats market noise
13:03 Listener Zach thanks Tom—phone call advice pays off
13:34 Listener “Long” asks how to become a fiduciary advisor
14:55 Why financial skills alone don’t make great advisors
16:38 Should you start at a sales-driven firm? Probably not
18:04 Better idea: get your Series 65, find a DFA firm, study for CFP
20:08 Sales skills matter—but you don’t have to sell your soul
20:55 Listener asks about FIBA and a “too good to be true” annuity pitch
21:48 FIBA’s fake fiduciary claim and questionable annuity advice
24:30 Unregistered “advisors” pushing 9–11% commission products
26:25 Why these products are sold: $35K+ commissions
28:30 How to spot fake fiduciaries—and what real ones disclose
29:23 Tom and Don still steaming about annuity predators
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