9 Beginner investing mistakes to avoid | Investing mistakes in the stock market |
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**eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk ** (I earn a commission if you sign up using my link / Sponsored by eToro) 🌿👉 Buy Mind Leaves a Coffee and support the channel: https://www.buymeacoffee.com/mindleaves 🌿👉 Earn extra per month by doing surveys. Register to APPEN: https://connect.appen.com/qrp/public/jobs?uref=093df850f4029d81a75701257f2687c1 Note: These links are affiliate links. Thank you for the support xx #etoromindleaves Time Stamps: 00:00 Intro 00:46 Modern Investing World 04:42 Mistakes Beginner Investors make 13:45 Final Thoughts 14:15 Bloopers Reel Here are some mistakes I think beginner investors make: In this video I share some of my thoughts on how the world has recently changed because of technology and how this has influenced investing. I also share some mistakes I believe beginner investors make along the journey. Some of these mistakes include: Thinking you are not able to invest because you know NOTHING about the stock market or investing. It might seem overwhelming at first, but just learning some fundamental basics, opens a whole new world where you might feel much more empowered when it comes to investing. Too scared you’ll invest into the wrong thing - lose a lot of money - or get caught off guard by a ton of hidden fees. The fact of the matter is that if you – are like me who didn’t have a clue about anything investing wise, but the great thing about mistakes are that they teach you a lot more than not making any mistakes. So a quick tip, start investing into well established markets to get comfortable with the whole investments world. Delaying to start - Analyses paralysis. The worst thing you can DO is to not DO something because you thought too much about DOING IT it, that you got scared and didn’t DO it. Wait for the perfect timing? I hear so many people tell me “I will start to invest when the market is in a dip” and I have to be honest here, this way of thinking is something I really have to fight as well. So, I don’t wait for the dip anymore, I dollar cost average into my investments. Obsessing over fees. Yes, fees are definitely something to look out for. So make sure you aren’t being ripped off where you are currently investing. But as I mentioned many times before in our day and age investing has really become so much cheaper than a decade ago. Investing while you have high interest consumer debts. When you have high interest debt the best way for you to invest is to pay off your debt. This is quite easy to explain but sometimes hard to grasp. Let’s say you made an investment last year, and it gave you a return of 10%, which is quite decent, but you had a credit card, student loan or car payment, that was in excess of 12% interest combined. You would have effectively lost 2% on your total investment. Immediately buying single stocks. Single stocks are usually seen as high risk investing. Especially if you are new to investing. Just because it’s basically the same concept as “putting all your eggs in one basket”. Putting all your cash into the stock market. Even though I would always recommend investing the majority of your money, because of inflation - just leaving your money in a bank with an average of 2% return - will influence the value of your money tremendously in the long run. Listening to other people and not creating your own opinion. There are a lot of opinions out there, of the best way to go. And everyone is very confident in their own way - even thou most of them differ from each other. You get your crypto guys, your commodity guy, the real estate guy, the only mutual funds and nothing else guy. But they are all so confident in their ways for a reason. Thank you for watching :) Have a healthy wealthy life! Images: www.unsplash.com Videos: Free Stock video by: www.videezy.com Music: Filmora Wondershare, YouTube Music, www.bensound.com |