Ask the Expert: Common Investing Mistakes

This month, I’m sharing some of the most common investing mistakes I’ve seen in my 22 years of helping clients manage their money.

Trust me, I’ve seen it all - and I’m here to help you avoid the pitfalls.

If you’ve ever second-guessed your investments, you’re not alone. But avoiding these pitfalls can make a huge difference in your long-term results.

1. Taking on Too Much Risk to Chase Returns

I’ve watched this one play out more times than I can count - someone hears a “hot tip” from a coworker, or gets tempted to go all-in on a risky asset for a quick win.

Did it ever work? Maybe once.But I’ve helped thousands of people, and I’ve seen this fail far more often — including in my own early investing days!

Smart investing is boring investing. If it feels like a gamble, it probably is.

2. Not Actually Investing Your Money

I see this a lot on social media: “My TFSA only earned 2% but my RRSP made 8%!”

The issue isn’t the account - it’s that the money inside the TFSA was never actually invested. Putting money into a TFSA or RRSP is just step one. It also needs to be allocated - whether to mutual funds, ETFs, or other vehicles aligned with your goals.

3. Investing Without a Plan

Jumping into investments without a clear goal, time frame, or understanding of your risk tolerance is like sailing without a destination.

Whether you’re saving for retirement or your first home, you need a plan to guide your decisions and keep emotions in check.

See how I can help or Try the DIY route for $9/month

4. Lack of Diversification

Putting all your money in one place - like your company’s stock - can backfire quickly. I’ve seen people delay retirement because they were waiting for one stock to bounce back.

Diversification is your best friend. Spread your risk across different asset classes, sectors, and even countries. It’s the opposite of exciting - but it works.

5. Ignoring Fees and Expenses

Fees matter -  especially over time. High-cost investments can chip away at your returns more than you realize.

If you’re in a mutual fund portfolio, look into low-fee ETF options. The cost difference can add up to thousands over the long haul.

Final Thought

You don’t need to be perfect, you just need a plan that makes sense for you. Whether you want 1:1 advice or a low-cost DIY option, I’ve got something to support your journey!

Let's connect for a complimentary introductory call to see if we're a good fit!

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