5 Ridiculously Silly Investing Mistakes No One Needs to Make
Many people think investing is hard, but it doesn't have to be. If you can avoid the needless mistakes that so many investors make, then you'll find yourself far ahead of the crowd. The following five mistakes might sound ridiculous to you, but many people still make them and pay the price for doing so. Stay on guard for these situations, and you'll end up far better off with your investment success in the long run.
The first thing every investor has to do is to recognize when someone is asking him or her to pay unnecessary costs. Despite the rise of low-cost investment options, you can still find professionals who concentrate on selling high-commission products. Mutual funds that have sales loads, annuities and insurance products with substantial surrender charges, and specialty investments such as privately offered real estate investment trusts often carry larger-than-necessary up-front costs to invest. That puts investors in an immediate hole, with their investments having to perform well just to cover the expenses of purchasing them. You're better off avoiding high-commission products and looking for the low-cost alternatives that are now readily available.
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Source: Fool.com