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In this video, we will discuss the top five beginner investing mistakes that beginners make in general. These investing mistakes should be avoided. Please remember this goes for all types of investments; stock, bonds, real estate, and businesses. Let me know your experiences in the comment section.
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5 INVESTING MISTAKES
1. UNREALISTIC EXPECTIONS
It’s Important to make reasonable projections about how much your investments will earn. If you expect a 20% average annual return, you may think you need to invest a lot less than if you expect 2% average annual returns. Unfortunately, 43% of financial professionals indicate that unrealistic expectations of returns is a major mistake investors are making. To avoid this, look at the historical performance of investments you’re considering, and study the fundamentals of any stock you plan to buy to assess its realistic potential.
2. NOT INVESTING AT ALL
Don’t put off investing. There are a number of excuses that people use to explain why they haven’t started investing yet, ranging from “I don’t have enough money” to “I don’t know what to invest in.” The good news is that just about anyone can start investing with a small amount of money. Applications and companies that facilitate investing with small amounts are readily available. And, if you’re not sure what to invest in, using an indexing strategy or starting with a robo advisor can be an easy way to move forward while you learn the ropes.
3. INVESTING TOO MUCH
Not everyone at the start will have a decent amount of money to invest, but even if you do, start slowly. When you are first learning, even armed with some of this knowledge, you still will make some investing mistakes. It’s great to learn from, but you also what to ensure you aren’t losing thousands of dollars. If you are investing on your own outside of a company 401k, start off small and work your way up to bigger investments.
4. INVESTING IN THING THAT YOU DONT EVEN KNOW ABOUT IT!
#1 Not Understanding the Investment
One of the world’s most successful investors, Warren Buffett, cautions against investing in businesses you don’t understand.1 This means that you should not be buying stock in companies if you don’t understand the business models. The best way to avoid this is to build a diversified portfolio of exchange-traded funds (ETFs) or mutual funds. If you do invest in individual stocks, make sure you thoroughly understand each company those stocks represent before you invest.
5. NOT CONTINUING TO LEARN
The more you know, the fewer mistakes you’ll likely make. And your reading and thinking may lead you to better investing strategies and better performance, too. Read about great investors. Read about great businesses. Read about business failures, too, as they can be quite instructive. Read about great management styles, as the best businesses will have great management. Read up on industries that interest you, learning about their challenges, their prospects, and which players are strongest and weakest.
Watch the rest of the video to find out more details.
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Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in an attempt to mirror what I do. Unless investments are FDIC insured, they may decline in value and/or disappear entirely. Please be careful!
