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Even if you’ve been saving your money and investing for a long time it’s easy to make rookie mistakes. On this episode, we’ll cover some of the top rookie mistakes we see people make, illustrate how to avoid them or how to fix them if you’ve already made some mistakes in your financial life.
Investing is pivotal for growing wealth and moving you closer to the goal of financial freedom, and we want to help you make the best decisions possible. No matter how savvy you feel you are as an investor, it’s still important to be aware of these missteps to make sure you’re staying on the right track for retirement.
Here’s more of what you’ll learn on this episode:
- First mistake: Having investments with no purpose. We’ll share some examples of what that means. [3:16]
- Second mistake: Not understanding risk. Every investment carries risk and you need to know what that is. [7:09]
- Third mistake: Making emotional decisions. We’re all guilty of doing this and it can hurt long-term returns. [14:57]
- Fourth mistake: Following ‘hot tips’ when picking investments. [19:04]
- Fifth mistake: Forgetting about the investment fund fees. [24:15]
Thanks for checking out this episode of the podcast. If you’d like to learn more about financial and retirement planning, check out our YouTube channel here.