The reality is that many people try and fail with their investments – a reality that is far more common than it needs to be for millions of hard-working and upstanding people around the world. On the other hand, some investors – such as those who had the foresight to invest in long-term successes like Berkshire Hathaway and stick with it- have positioned themselves to reap a lifetime of freedom and success.
One of the key differentiators between these two groups is not so much the ability to make correct decisions as much as it is the ability to avoid certain devastating errors and mistakes that are likely to reduce your results by a large margin. The difference can amount to millions of dollars that you won’t have to enjoy a more comfortable retirement.
It can be the difference between having the freedom to focus on your family and legacy or having to work for the rest of your life.
Over the years, we have noticed certain investors repeatedly making the same devastating mistakes.
These mistakes are devastating for at least two reasons:
1.) They can be extremely costly in terms of both dollars and stress.
2.) They are all unnecessary and avoidable.
As a firm that takes an education-oriented approach, we created this download of 7 Devastating Mistakes Investors Make and How You Can Avoid Them to help educate our friends and clients on the dangers of investing without understanding.
This mistake causes us to make completely irrational decisions and will almost always lead to a direct loss.
Even hitting many of the largest and most sophisticated investors, this mistake will keep you chasing profits and finding only stress and anxiety.
Many investors make this mistake overcomplicating the process of investing costing them time and making investing more like gambling.
This costly mistake leads investors to sell good investments at the wrong time and often gets many investors into trouble during stock market downturns or crashes.
This mistake makes is very easy for investors to lose sight of their ultimate goal, is unreliable, and can cause investors to miss out on opportunities to compound investments.
This life altering mistake makes it very easy for investors to be taken advantage of by both scammers and unscrupulous advisors. It is frustrating because it both affects many people and is completely avoidable.
Overdone or underdone this mistake can substantially reduce or even eliminate completely the returns your investments produce costing you years of savings and growth.
7 Devastating Mistakes Investors Make and How You Can Avoid Them was written with the idea that growth in investing is not just about your money. It is about your time. Many of us save and invest our entire working lives. If you worked for 30 years before retirement and one or more of these mistakes cost you a loss of one-third of your account, you didn’t just lose the money. You lost the time. You lost 10 years of your life’s savings and investing. This is unacceptable and avoidable.