The Biggest DIY Investing Mistakes
Summary
Brian and Bo clarify that they support do-it-yourself investors and outline seven common mistakes to avoid. They discuss the dangers of overlapping funds, the importance of asset location for tax efficiency, and the need to balance risk tolerance with capacity. The hosts also highlight the necessity of updating beneficiaries, consolidating forgotten accounts, and avoiding market timing by consistently investing. Finally, they explain when complexity or life changes might make hiring a professional advisable.
Topics discussed
Sponsors: Indeed and United Airlines
Introduction to DIY investing episode
Support for DIY investors and info sources
Overview of the 7 common mistakes
Mistake 1: Overlapping funds and lack of diversification
Mistake 2: Ignoring asset location and tax efficiency
Mistake 3: Mismanaging risk tolerance and capacity
Mistake 4: Forgetting to update beneficiaries
Mistake 5: Losing track of old investment accounts
Mistake 6: Trying to time the market
Mistake 7: Ignoring when to hire a professional
Show credits and legal disclaimer
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