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Ep. 20: Nick Maggiulli on Biggest Lies in Personal Finance, Feeling Rich, and the Role of Luck in Investing

The One Percent Show with Vishal Khandelwal

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Avoiding Big Mistakes Early in Your Investing Life

I think avoiding big mistakes is crucial regardless of where you are in your investing life. The worst time to have an investment stake is obviously when you have the most money at stake necessarily, right? So if you have like a million dollar portfolio and you make an investment stake that loses you an extra 20% relative to the market, that's bad because you just lost an extra 200 grand. If you had a million bucks, that's only 2000, but that 2000 could compound to a lot more later. I'm always thinking about as long as the main key here is survival. It's very difficult, but you basically want to be able to prepare for anything ideally.

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