Avoiding Big Mistakes Early in Your Investing Life

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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.

Nick Maggiulli is the creator of Of Dollars And Data and the Chief Operating Officer at Ritholtz Wealth Management. Nick is also the author of a new book titled Just Keep Buying where he crunches numbers to answer the biggest questions in personal finance and investing, while providing the reader with proven ways to build wealth the right way. In this episode, we talk about the biggest lies told in personal finance, role of data in analysis, the idea of feeling rich, role of luck in investing, and much more. To know more about this initiative, check out:

https://www.vishalkhandelwal.com/

https://www.safalniveshak.com/

Check out my book - The Sketchbook of Wisdom - which Morgan Housel calls "a masterpiece."

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