Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Amanda: John, I heard that your financial advice service is going great guns! congrats!
John: Thanks, Amanda! My work has been very satisfying to me.
Amanda: In your experience, what is the most common mistake that you see people make with their personal finances?
John: Many people make a common mistake. That is, not investing for the long-term in a diversified portfolio while ensuring that the cost of investing is kept low.
Mod cut.
Last edited by PJSaturn; 09-11-2018 at 02:48 PM..
Reason: Spam.
I would say it was living beyond their means and not saving in the first place. I thought I read on cnbc that almost 33% of us have less than 50K saved for retirement.
Those studies crack me up . they always take the public as a whole , many who never have money in their life and dilute the savings figures for those who do . when you average pout those who do with those who don't or are just starting out the numbers look very low for those who do . .
Those studies crack me up . they always take the public as a whole , many who never have money in their life and dilute the savings figures for those who do . when you average pout those who do with those who don't or are just starting out the numbers look very low for those who do . .
I saw a pretty good chart that delineated out those who don't have a dime and then those who do. The numbers were actually pretty good I felt. IIRC the median liquid savings of younger folks (under 35) was around $73k which I felt was pretty good.
I believe it said 30% of Americans don't have a dime to their name, which I find believable.
Amanda: John, I heard that your financial advice service is going great guns! congrats!
John: Thanks, Amanda! My work has been very satisfying to me.
Amanda: In your experience, what is the most common mistake that you see people make with their personal finances?
John: Many people make a common mistake. That is, not investing for the long-term in a diversified portfolio while ensuring that the cost of investing is kept low.
Disclaimer: The opinion and information provided in this article should not be construed as investment advice or financial planning advice. All securities and financial products or instruments and their transactions involve risks. You should also seek taxation and legal advice prior to acquiring a financial product. (QuietGrowth)
The most common mistake is not having a plan. The second most common is not sticking to the plan.
Biggest mistake people make with their finances?
I would say spending money on stuff they don't need and being way too conservative with their investments
If you’re a long-term investor, the biggest risk to reaching your goals likely isn’t a bear market. Stocks’ long-term annualized return of 10% includes bear markets! Bigger risk? Missing bull return
A 401k balance is not a good way to assess retirement savings because many people roll over their 401k savings into an IRA when they change jobs. You have to look at both.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
