Show 58 - Avoiding 8 Most Common Investing Mistakes
In this episode, I talk about the 8 most common investing mistakes I see and how to avoid them.
11/6/20241 min read
Truly wise people learn from the mistakes of others. So instead of learning the hard way all the pitfalls of investing, consider following my advice and avoiding the pitfalls that other people have already made again, and again, and again. In this episode, we go through 8 of them.
Show Notes
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Another great episode on investing
Fee Only Financial Advice with Nectarine
I will be compensated by Nectarine if you use my affiliate link, which creates an incentive and conflict of interest. I am not a current client or employee of Nectarine.
Recommended Books (Amazon Affiliate Links)
The Simple Path to Wealth (for Index Investing)
How to Invest in Real Estate (for Real Estate Investing Beginners)
Key Ideas
Have a plan and stick to it. Don’t get pulled off your plan no matter how good or bad things seem.
Beware of the hidden costs of investing (fees, charges, taxes, and transaction costs).
Get advice when you need it (and be willing to pay for good, unbiased advice).
Investing according to your situation, not what someone else tells you you ought to do.
Listen to the episode or read the transcript for more details. 🙂
Bonus Tip
Here is a bonus tip I didn't get to in the episode.
Another big pitfall for teachers is assuming your pension will be enough. Unless you are living significantly under your means, your pension, which is probably in the 60% of salary range, just isn’t going to cut it. Especially since you probably want to have some fun in retirement. Make sure you build your own nest egg. I always say try to do your entire retirement on your own and let the pension make up the difference because having too much money in retirement is a good problem to have!