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HOW TO AVOID INVESTMENT MISTAKES
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6 MISTAKES YOU SHOULD AVOID IN INVESTING:
1. Letting Emotions Run Wild
2. Investing in Something You Don’t Understand
3. Falling in Love with a Company
4. Unrealistic Expectations 5. Attempting to Time the Market
6. Failing to Diversify
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Develop a Plan of Action
Determine what your goals are and how much you need to invest to get there. If you don’t feel qualified to do this, seek a reputable advisor.
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Develop a Plan of Action
Find one who will work for a fee and who does
not receive incentives to sell you high-commission products and will explain
to you the rationale for choosing one investment
over another.
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Develop a Plan of Action
Do not expect your portfolio to make you rich
overnight. A consistent, long-term investment
strategy over time is what will build wealth.
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Systemize Your Plan
As your income grows, you may want to expand your portfolio. Monitor your investments, review them and their performance over a fixed time frame you determine.
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Systemize Your Plan
Evaluate whether your equity-to-fixed-income ratio should stay the same or change based on where you are in life.
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Set up a “Play Fund”
We’re all tempted to take a bigger risk and “gamble” sometimes. So, instead of trying to fight it, go with it. Set aside your “fun investment money.”
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As with any game, there are rules: You should limit this amount to no more than 5% of your investment portfolio. Do not use retirement money
Set up a “Play Fund”
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Be prepared to lose 100% of your investment; and ALWAYS set a pre-determined limit to determine when you will walk away (Stop Loss).
Set up a “Play Fund”
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Commit To It
Investing mistakes are part of the investing
process. Knowing what they are, avoid
committing them, develop a thoughtful, systematic plan and
stick with it.
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Commit To It
Follow these guidelines, and you will be well on your
way to building a portfolio that will
provide many happy returns over the
long-term.
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