TIM THOMAS

10 Bits of Investment Advice Experienced Investors Would Tell Their Younger Selves

When it comes to trading and investing, the sting of your early mistakes can be even more painful.

Ten experienced money bloggers and finance professionals have taken the time to impart their hard-earned investment advice

1. Stop aiming for short-term results

Before we get to the nine expert investors I asked for advice, I wanted to share my own thoughts – what investment advice would I give? I’d probably tell my younger self to stop expecting short-term results.

2. Focus on passive income

When you are young, you are told to invest for growth, often taking on more risk than you should,” Michael Dinich, Your Money Geek.

3. Take advantage of compound interest

“You don’t really appreciate the power of compounding till much later in life.” Keith Partk, DivHut

4. Consider risks carefully

“It’s easy to get caught up thinking about the upside potential, but focusing on both risk and reward is vital to becoming a better investor,” Brian Kehm, Frugal Fortunes

5. Focus on your savings rate

“Whether you get an 8% or a 12% annual return on $1,000, you’re talking about the difference of $40 annually. Instead of worrying about your rate of return, if I could tell my younger self one piece of advice, it would be to put it all in a low-cost index fund and channel all of my energy toward increasing my savings rate,” Joshua Holt, Biglaw Investor

6. Stop caring about what others think

“Stop caring about what others think about you. Figure out how you can find inner peace and be happy with yourself. Spend money on things that will make you happy, rather than creating a false image to try to impress people. Live below your means, save money, and invest money in low-cost index ETFs.” Bob Lai, Tawcan

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