You’ve heard of the Seven Deadly Sins, right? Well recently I read a post that shared the 7 Deadly Sins of Investing. This is a really great post that Katie Brewer put together on her site Your Richest Life Planning.
I was going to pick just one of the seven to share here, but I think all of them are really important.
Seven Deadly Sins of Investing:
- Not taking your goals into account
- Basing your investment strategy on someone else’s risk tolerance
- Making too many short-term moves with your long-term money
- Having too much tied up in one investment
- Not knowing what you’re actually invested in
- Basing investment decisions on the news
- Not saving enough
You can probably see why I didn’t want to leave any of those out. All seven of these topics are ones we cover with our clients at Mullooly Asset. Specifically, we’ve discussed being skeptical of the financial media and their spin on our weekly podcast: https://mullooly.net/be-skeptical-of-the-financial-media/6523
There’s a lot more to each of the seven mistakes listed above, and Katie expands on all of them in-depth during her post. I thought this was a great piece by Katie, so make sure to check it out here: http://yourrichestlifeplanning.com/7-deadly-sins-investing/