Australian Investors Podcast 💰 10 investing mistakes (you need to avoid) | Passive Income [3/5]
In this Passive Income podcast episode, Owen & Drew talk about the most common (and painful) investing mistakes made by investors. Whether you're investing in ETFs, shares, Bitcoin or property, this podcast will help you avoid the most common investing mistakes.
Here's a list of Drew's most common mistakes:
- Assuming bigger is better - but I love my Commonwealth Bank (ASX: CBA) and Westpac Bank (ASX: WBC) shares!
- Focusing too much on costs & fees - though low costs are good, they're not everything
- Tax-driven investments don't always work - negative gearing means you're losing money
- Naïve diversification - having two ETFs doing a similar thing is not diversification
- Adding random assets & following the next hot theme - the hype is not a bonafide strategy
- Not having a real strategy in place - avoid being a collector, a plan might only be one or two pages
- Assuming every asset always goes up - it doesn't
- Looking too often at performance - Drew & Owen would be lucky (unlucky) to check their brokerage account once a month!
- Get rich quick - emu eggs anyone?
- Giving in too soon, or changing strategy in the short-term - buy and hold only works if you and hold!
Watch the video version on the Rask Australia YouTube page.
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DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
Full individual disclosures for each guest are available via the show notes page. Owen and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.
Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
Date recorded: 24th June 2022
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