Investing can be intimidating for beginners. Many new investors make common mistakes. Here are five pitfalls to avoid when starting your investment journey.
- Emotional Investing: Don’t let fear or greed drive your decisions. Stick to your investment plan and avoid impulsive actions.
- Lack of Diversification: Spread your investments across different assets. This reduces your risk if one investment performs poorly.
- Chasing Short-Term Gains: Focus on long-term growth. Trying to time the market can be risky and often leads to losses.
- Ignoring Fees: Pay attention to investment fees. High fees can eat into your returns over time.
- Not Doing Enough Research: Understand what you’re investing in. Research companies and industries before buying stocks.
