A pothole in the road can throw off your car’s alignment. Likewise, investing potholes can permanently throw off your retirement plans. Take unadvertised fees, for instance. Paying an additional 1 percent in fees every year over the span of a career can lighten your account by tens of thousands of dollars at retirement.
Similarly, investing too conservatively is riskier in the long run. When you’re years away from retirement – and even if you’ve already retired – it’s important to have some exposure to stocks. Since the market crash in 2008, many investors have been hesitant to take risks with their portfolio because they don’t want to lose money. While that’s understandable, consider this: In the 10 years since June of 2008, the market as measured by the benchmark S&P 500 has more than doubled.
Learn how to avoid these seven biggest investing mistakes so you can reach your retirement goals, and utilize the proper savings tips to solidify your financial future.
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