Mistake #7: Bad Investments
7. Money-draining investments. Each year, American
investors spend hundreds of billions of dollars trying to
outperform the market. They often end up chasing "hot tips",
paying excessive commissions, or getting burned by risky stocks.
It's very risky to compete against smart, experienced traders.
Most people are better off minimizing costs and risks by
investing in a diverse, mostly buy-and-hold portfolio of stocks
and interest-paying accounts or securities. "The Motley Fool"
wonders: Brother, can you spare $350 billion? (http://www.fool.com/investing/general/2006/03/16/brother-can-you-spare-350-billion.aspx)
|"October. This is one of the peculiarly dangerous months to
speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and
February."||~ Mark Twain (1835-1910), American Writer and Humorist.|| |
(Next Gem: Mistake #6: Overspending)