Published On Nov 5, 2023
Awareness plays a crucial role in managing your money effectively and achieving financial success. In this video, I provide you the Top 10 Investing Mistakes You NEED TO AVOID to improve your financial knowledge. In less than 20 minutes, the values you'll learn in this video could potentially save you hundreds of thousands of dollars! - Enjoy!
Free Investing For Beginners Guide: https://dannysully.link/Investing101
Sign Up Bonus Offers:
📈 Get $60+ Free Stock on Webull (When You Deposit $500): https://dannysully.link/Webull
💰 Get up to a $200 Cash Bonus on Coinbase (Crypto): https://dannysully.link/Coinbase
💎 Get up to a $325 Cash Bonus on SoFi (High Yield Savings): https://dannysully.link/SoFi
Resources:
📖 Free Learning Guides: https://dannysully.link/FreeGuides
🗞️ My Newsletter: https://dannysully.link/Newsletter
🔑 My Portfolio & Private Community - / dannysully
🐦 Twitter - / dannysully_
📝 LinkedIn - / danny-sully
📸 My ENTIRE YouTube Setup: https://dannysully.link/YouTubeSetup
🎥 Relevant YouTube Videos 🎥
• The 5 BEST Investing Apps For Beginne...
• Roth IRA Investing For Beginners | Th...
• Where To Open A Roth IRA | 3 BEST Rot...
• The EASY 3 Fund Portfolio That Defeat...
• High Yield Savings Accounts For Begin...
• How To Build Wealth Investing In ETFs...
⏰ Timestamps ⏰
00:00 Intro
00:19 No Emergency Fund
01:46 Not Investing
03:03 The Waiting Game
04:40 Timing The Market
06:15 Portfolio Allocation
09:43 Tax Considerations
12:57 Not Planning Ahead
13:47 Lack Of Discipline
15:30 Following The Hype
16:31 Excessive Fees
19:02 Conclusion
Key Takeaways:
1. No Emergency Fund: An emergency fund acts as a safety net, ensuring quick access to cash when needed. Without it, selling investments prematurely can harm long-term financial goals.
2. Not Investing: The significance of getting started with investing, even with a small amount, you can set your money to work and benefit from the power of compound interest.
3. The Waiting Game: Waiting too long before starting your investment journey can have a negative impact on your financial future.
4. Timing The Market: Attempting to time the market is discouraged, as it's challenging even for professionals.
5. Bad Portfolio Allocation: Diversification is essential, and putting too much of your investments into one stock or sector can be risky. Maintain a well-balanced and diversified portfolio to reduce the potential for significant losses.
6. Tax Considerations: Managing taxes is a crucial aspect of investing. Capital gains, dividends, and many other concepts to know.
7. Not Planning Ahead: Essential for assessing your financial position, setting savings goals, and ensuring you don't make impulsive decisions. Having a well-thought-out financial plan helps you stay the course even in turbulent times.
8. Lack of Discipline: Discipline is key to enduring the inevitable ups and downs of the market.
9. Following Hype: Avoid following hype and making emotional decisions. Research thoroughly and understand what you're investing in before buying into the hype of quick gains.
10. Excessive Fees: Excessive fees can significantly reduce your potential returns, so it's essential to be aware of and minimize these costs.
🔔 Don't forget to subscribe with notifications on and hit that like button!
Some of the links in this description are affiliate links that I get a commission from. Any commission helps support my channel and I would greatly appreciate it!
Disclaimer: This content is for entertainment purposes only. The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter.