As I’m starting to become an investor as my sub income, I need to learn about the mistake commonly make by investor.
Yahoo Finance has given four common mistakes investors make that we need to know :
1) Not Investing
– What this mean? Mostly people take time whether to invest or not. Invest in early age could give us much more profit than wait until the age of retirement. I’m 40’s and just starting but that’s doesn’t mean it is too late.
Let’s learn and do some action.
2) Becoming Obsessed
– Some of us too obsess and always check on their investment at the website. Some of us join community that always give many opinion. The daily fluctuations of financial markets are often big and can be scary. Too much information could make you missing out and change plans accordingly.
– Markets can and go down too. For worst , it could be in years. Don’t panicked and well designed investment plan will assume these events happen. Changing your plan will make these bad events even worse.
4) Stay away from guarantees.
– As market is uncertainty, don’t take a big risk if you don’t have any plan. Don’t put all your money in one plan only.
Successful investing is about being patient, having a plan and sticking to it. It is not about betting on some promise and hoping it comes true.Investing is about not getting too high, not getting too low and keeping things in perspective.
Written by MylesUdland