What Mistakes Do Bad Investors Make?

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Today’s Question:

Whether you’ve been investing for decades or just starting out, there are things you shouldn’t do if you want to be successful. Let’s take a look at the mistakes you’ll commonly find the worst investors making.

 

Confidence Corner

We often talk about the characteristics of successful people and wise investors, but what about the other side of the coin? What does it look like to be a bad investor?

On this episode of The Financial Answer podcast, we’ll take a look at the most common mistakes you’ll see the worst investors making. If you want to build a retirement plan that continues to grow and flourish, avoid these actions and you’ll be okay. Many of them seem like common sense investment advice, but many people act emotionally and that leads to losses and frustration.

It might seem easier said than done at times but that’s why you build a plan and stick to the process. When you have those steps in place and follow them diligently, you won’t have to worry about the swings in the market or trying to get rich quick.

Before we get to our main topic today, we’ll get Nathan’s thoughts on Democratic presidential nominee Elizabeth Warren’s billion dollar tax plan.

You can listen to the entire episode in the audio player above or click on the timestamps below for a specific topic.

[1:59] – In the News: What do you think about Elizabeth Warren’s billion dollar tax plan?

[6:35] – Confidence Corner time

[7:20] – Let’s talk about the worst investors starting with trying to get rich quick.  

[9:17] – Operating without a cohesive plan leads to bad investing.  

[11:16] – Following the herd mentality rather than thinking independently.

[13:09] – A lot of times bad investors focus on the short term rather than long term.

[14:26] – Focusing on the areas you CAN’T control.

 

A Point Of Wisdom:

 

Related Content:

PODCAST: Welcome to Retirement! (Now Don’t Screw It Up)

PODCAST: Reading Between the Lines of Financial Fake News

 

Additional Resources:

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Your Guide:

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