Ep168: Frank Paiano – Whether You Like it or Not, You Need to Invest
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Guest profile
Frank Paiano is a retired professor from Southwestern Community College, where he was teaching his favorite course Introduction to Investments. He started as a computer programming teacher and mathematician but then moved his way into investments in finance after working at a brokerage firm as a programmer for a while.
He’d been a broker now for over 20 years. Aside from that, he is also an insurance agent. He plans on getting right back to teaching and helping young people to improve their financial lives.
“You need to make a choice, and you need to invest. The world doesn’t end if you choose carefully and wisely. You are going to do well.”
Frank Paiano
Worst investment ever
Losing a tremendous opportunity for not doing anything
Frank’s worst investment was an investment he never made. At that time, Frank was putting as much as he could into stocks through 403b, which is like a 401k, an employer-sponsored retirement plan.
One day, a duplex became available for a fairly reasonable price, just down the street from Frank. He thought it was a pretty great deal. And now, he was torn between focusing on investing through his 403b, which would suffer if he invested in the property.
In the end, he did not buy the property at $250,000. Eight years later, at the peak of the market in 2007, that same property sold for $765,000.
Lessons learned
Make a choice, but do your research first
If you are not sure about what investment to choose, do your research, find someone you trust, get a good referral, or take a course and learn how to value individual securities, how to research mutual funds, how to look for real estate, and make your choice.
Do not give up
You’ll probably mess up the first time but learn from it and do it again successfully the second time.
Andrew’s takeaways
The concept of alternative outcomes
There are many possible alternative outcomes to an investment story. Always remember them when you look back from that investment you did not do.
Do not fixate on one thing
There are so many things happening around us. Just accept the fact that you’re missing something every single day.
Actionable advice
You need to get in the game. Do your research or find a competent advisor that you can trust.
No. 1 goal for the next 12 months
Frank is hoping to join a subscription service where he can travel to Mexico at very low fare so that he can have a vacation there every month.
Parting words
“Best of luck and success to all the listeners!”
Frank Paiano
Connect with Frank Paiano
Andrew’s books
- How to Start Building Your Wealth Investing in the Stock Market
- My Worst Investment Ever
- 9 Valuation Mistakes and How to Avoid Them
- Transform Your Business with Dr. Deming’s 14 Points
Andrew’s online programs
- Valuation Master Class
- Women Building Wealth
- The Build Your Wealth Membership Group
- Become a Great Presenter and Increase Your Influence
- Transform Your Business with Dr. Deming’s 14 Points
Connect with Andrew Stotz
About the show & host, Andrew Stotz
Welcome to My Worst Investment Ever podcast hosted by Your Worst Podcast Host, Andrew Stotz, where you will hear stories of loss to keep you winning. In our community, we know that to win in investing you must take the risk, but to win big, you’ve got to reduce it.
Your Worst Podcast Host, Andrew Stotz, Ph.D., CFA, is also the CEO of A. Stotz Investment Research and A. Stotz Academy, which helps people create, grow, measure, and protect their wealth.