Mike Milligan says people avoid financial news because the jargon makes them feel dumb, then make bad decisions on 401(k)s and mortgages anyway. His fix: say "estoy aprendiendo" (I am learning) out loud when you hit unfamiliar terms. Permission to be a beginner kills the fear and gets smarter people to help.
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Most people don't watch financial news that way. They turn on CNBC and they hear, Warsh removed the easing bias and the dot plot moved 40 basis points hawkish, and they shut down because those words mean nothing. They don't want to look stupid, so they tune out, and then they make blind decisions with their 401s, their mortgage, their retirement, and their kids' college fund. Here's what I want you to do. The next time you hear something on the financial news you don't understand, I want you to say to yourself and out loud if you have to, estoy aprendiendo. I am learning. Because the moment you give yourself permission to be a beginner, 2 things happen. One, you stop being afraid of the words. And 2, the right people come out of the woodwork to help you. That's what this show is. That's what I am.