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