While not investing at all or putting off investing until later are big mistakes, investing before you are in the financial position to do so is another big mistake. Get your current financial situation in order first, and then start investing.
A common mistake that a lot of people make is thinking that their investments in collectibles will really pay off. Count on investments made with cold hard cash instead.
Along the way, you may make a few investing mistakes, however there are big mistakes that you absolutely must avoid if you are to be a successful investor. The biggest investing mistake that you could ever make is to not invest at all, or to put off investing until later. If all you can spare is $20 a week to invest, make your money work for you– even!
Don’t put all of your eggs into one basket. Don’t move your money around too much. Pick your investments carefully, invest your money, and allow it to grow– don’t panic if the stock drops a few dollars.
Instead, invest for the long term, and have the patience to weather the storms and allow your money to grow. Only invest for the short term when you know you will need the money in a short amount of time, and then stick with safe investments, such as certificates of deposit.
Along the way, you may make a few investing mistakes, however there are big mistakes that you absolutely must avoid if you are to be a successful investor. The biggest investing mistake that you could ever make is to not invest at all, or to put off investing until later. Make your money work for you– even if all you can spare is $20 a week to invest!
While not investing at all or putting off investing until later are big mistakes, investing before you are in the financial position to do so is another big mistake.
