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Are You Guilty of These Investing Mistakes?

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Investing Mistakes

As many of my regular readers know I spent close to 15 years in the financial services industry, with the last five spent speaking to investors on a daily basis. For those who haven’t worked in finance, you get to learn a lot about people and their money habits. Some of those are good and some of those, well, made me want to scream on the inside. No one is perfect, most of all me, but I enjoyed being able to help walk some of these investors through coming back from their investing mistakes.

I learned two things during that time that still stick out to me to this day. The first is the need for an increased emphasis on financial literacy in our society. Thankfully, we’re seeing that beginning to take shape. The second is that all too often we get in our own way – especially when it comes to making investing mistakes.

The problem that comes in with investing mistakes is when left for years, or decades at a time, you can lose tens of thousands of dollars. If taken to an extreme, that can impact what you plan on doing for retirement. It is my hope to help change that.

If you’d like to read more about common investing mistakes and how they can add up, please read my latest article over at Daily Finance.

 

 

Photo courtesy of: Lending Memo

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John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.

Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.

Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.

3 Comments

  • Those are some great tips for those bewildered about investing. You’re right that there’s a great deal of financial illiteracy out there. This is a great summary of some of the key elements of investing.

  • Of everything on that list, it is the not getting started early enough that will take the largest toll on someone’s financial future. Fees are ancillary to investing to begin with (I’d take 2% fees off of something, than 0% fees of nothing) and so are most of the rest. No need to worry about the tax implications if you don’t have any investments! 🙂

    Great write up John.

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