💰 10 investing mistakes (you need to avoid) | Passive Income [3/5]

What are the biggest investing mistakes investors make?

Part 3/5 of the Passive Income series on The Australian Investors Podcast features Owen Rask and Drew Meredith, CFP.

Owen and Drew share their 10 biggest investing mistakes when investors go in search of income from a diversified portfolio. 

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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:

1. Assuming bigger is better – but I love my Commonwealth Bank (ASX: CBA) and Westpac Bank (ASX: WBC) shares!
2. Focusing too much on costs & fees – though low costs are good, they’re not everything
3. Tax-driven investments don’t always work – negative gearing means you’re losing money
4. Naïve diversification – having two ETFs doing a similar thing is not diversification
5. Adding random assets & following the next hot theme – the hype is not a bonafide strategy 
6. Not having a real strategy in place – avoid being a collector, a plan might only be one or two pages 
7. Assuming every asset always goes up – it doesn’t
8. Looking too often at performance – Drew & Owen would be lucky (unlucky) to check their brokerage account once a month!
9. Get rich quick – emu eggs anyone?
10. Giving in too soon, or changing strategy in the short-term – buy and hold only works if you and hold!