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Investing is a major, lifelong journey.
Theres a lot to learn and a lot to navigate.
Read about them to build well-earned confidence and break past some of the fear.
Plus find out several ways to invest that dont involve the stock market.
How many savings accounts do you have?
you’re free to conduct a quick test to see if youre overpaying.
If the ratio is below 0.1%, that is not bad, Kim said.
That money could be gone towards other, high-performing investments.
The key is to find legitimate ways to minimize your tax burden.
Think of accounts like 401(k), 457, Roth IRA and Health Savings Account.
Each of these accounts comes with tax advantages in their own ways.
You want to be able to navigate them with ease.
Typically, people complicate their investment portfolios with the savvy intention of maximizing diversification.
Though diversification is critical for all investors, assembling a labyrinth of asset categories and subcategories can confuse things.
By reinvesting them, youre making them make money just like you are your other investments.
Doing this is as simple as clicking enable on your account.
But its dangerous to be too tuned in.
You may fall prey to panic or become overly enchanted with anew investing trend.
These newspapers and magazines make a living by sellingsubscriptions and ads, Kim said.
Their primary objective, apart from sharing information, is to gain readers.
How to get more readers?
Write interesting articles articles that grab peoples attention.
Having more information is good; however you have to read these within broader context.
Youre Constantly Chasing Higher Returns
Its every investors dream to beat the market.
Its also a fools errand.
Companies are only as good as their leadership teams.
Youre Impatient
When will you make the money?
We dont expect an apple tree to start bearing fruit the day after we plant a seed.
We understand that it takes years, Kim said.
So why is it that when it comes to investing, we expect our money to grow overnight?
Make like Warren Buffett and just be patient.
Money will amass and you will be just fine.
Youre Obsessing Over Investing And Missing Out on Life
Investing is so very important.
But you know whats even more important?
Enjoying your life for as long as you get to.
Spend time with your loved ones.
Get out in nature.
Dont let money rule your life when the whole point of it is to enrich your life.
Money shouldnt be the sole focus of our lives, Kim said.
So take all these investing mistake lessons and make a run at avoid them as much as possible.
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