4 No-No’s When Investing

by Minority Fortune

There are a few things that need to be checked at the door when you enter the world of investing. Otherwise, you may find yourself paying a hefty price. It would be wise to evaluate if you carry any of the following liabilities that we list. If so, it’s safe to say that it’s time to get to work on their elimination.

1.    Greed – It’s the worst. No matter what benchmark you set, it never seems to be enough. You keep telling yourself that you need more at whatever cost. This could be the result of feelings of inadequacy. If you have an unhealthy case of greed, you need to look into it and seek some help. Greed + Investing = Lethal.
2.    Ego – You may have been a whiz in math in college. Furthermore, you may be able to benchpress 400 lbs. You may have earned a dozen awards for your talents. Coming into the investing world with the “Anyone can make millions easily” attitude isn’t going to bode well for you. Humble yourself enough to learn the ropes. Never underestimate the hard work of those successful around you. Take the time to learn and proceed with caution.
3.    Fear – It’s such a powerful emotion that it has an ability to stop one in its tracks before they can even dare to attempt an action. While fear is natural, you cannot let it control you. You only get one life. You’re here to learn from your actions. If fear is overpowering you, work on overcoming it.
4.    Laziness – Never leave your money in the hands of someone else. Some people would rather tie their money up in the hottest mutual funds and go relaxing on the beach.  Others go chasing the funds and stocks with the biggest reported returns. This kind of investing is dangerous. Remember: quality over quantity. There’s no substitute for good research. Either you do it, or pay a professional to do it.

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