Investing and Money Mistakes

"A person often meets his destiny on the road he tookencourage 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 commonA short-term focus tends to steer us toward such
money mistakes investors tend to make. If any ofchoices 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" -- andnot 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 withexcellent 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 offMissed investment opportunities can cost you
essential planning. Resolve to take action now, beforemegabucks!
any more time goes by. Believe it or not, peace of6. 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 retirementstart every new day by reminding yourself, "If it's to be,
continues to grow, so the amount of money we'll needit's up to me!
to live on continues to increase. This knowledge should