Suze Orman Investment Advice – Don’t Make These Mistakes! (VIDEO)
Posted: May 6th, 2010 | Author: Joe | Filed under: Investing | Tags: Investing, Mistakes, Suze Orman, Tips | No Comments »Here’s a video from the Today Show in which Suze Orman shares some investment advice for beginners. She outlines what she sees are the 5 common mistakes investors make.
Suze Orman Investment Advice.
- Investing before you’re ready.
“Better to do nothing than do something you don’t understand”
That’s a great quote, and very applicable to investing.
(On a side note, poor Matt Lauer asks whether people invested in subprime mortgages just weren’t ready – as if the independent investor was buying subprime shares in his 401(k)!)
- Using a financial advisor who only “sees” one person in a couple. There’s a great local car commercial I keep seeing where the car salesman keeps asking the man questions while the woman is answering. The salesman plows on as though she weren’t even there, and eventual she fades away. Very powerful. It’s like that with investing but more so because a couple’s financial situation is far more reaching than a car purchase.
- Being afraid to invest when the stock market is going down.
“Be greedy when other’s are fearful.” – Warren Buffet.
- Being an all-or-nothing investor. Don’t focus on buying one thing, or following one asset type. I wonder how many are doing that with gold and other commodities. Remember tech stocks in 1999?
- Buying a loaded mutual fund vs. a no-load mutual fund. Knowing the difference between load and no load funds can save you a hefty chunk of change over the years.
Suze Orman Investment Advice - Don't Make These Mistakes
