| "A person often meets his destiny on the road | | | | retirement continues to grow, so the amount |
| he took to avoid it." | | | | of money we'll need to live on continues to |
| | | | increase. This knowledge should encourage us |
| Jean de La Fontaine (1621-1695) | | | | to work even harder on investing for the long |
| | | | term. |
| Here I have summarized six of the most common | | | | |
| money mistakes investors tend to make. If any | | | | 4. Investing only in "safe" choices. |
| of them strikes home with you ... | | | | |
| | | | A short-term focus tends to steer us toward |
| Why not resolve that you, too, will "know | | | | such choices as savings accounts, CDs, and |
| better" -- and do better! | | | | money market funds, which offer excellent |
| | | | short-term safety but may not keep pace with |
| 1. Becoming paralyzed by how much you don't | | | | inflation in the long run. |
| know. | | | | |
| | | | Investors should also consider including |
| The fact is, you can begin investing | | | | investments such as stocks in their portfolio |
| effectively with only a few basic principles | | | | that may offer excellent growth potential. |
| under your belt! | | | | |
| | | | 5. Refusing to seek assistance because you're |
| 2. Putting off financial planning until a | | | | sure you can do it yourself. |
| crisis occurs. | | | | |
| | | | Missed investment opportunities can cost you |
| Deep down, you do know that you've been | | | | megabucks! |
| putting off essential planning. Resolve to | | | | |
| take action now, before any more time goes | | | | 6. Leaving your future financial security up |
| by. Believe it or not, peace of mind feels | | | | to someone else. |
| much better than procrastination! | | | | |
| | | | To avoid making this biggest mistake of all, |
| 3. Focusing only on the short term. | | | | resolve to start every new day by reminding |
| | | | yourself, "If it's to be, it's up to me! |
| The amount of time retirees are spending in | | | | |