Investing too aggressively
Investors tend to take excessive risks to achieve their retirement goals, but doing this can have substantial adverse impacts. If you’re aggressively chasing for a 20% rate of return, that 20% rate of return can become 75%— loss. So be cautious!
Indeed, it is correct that failure can teach you great lessons, especially within the context of investing. However, when nearing retirement age, you cannot afford to lose your money in some sketchy investments.
While it’s true that experience is the best teacher, it is now too late for you to learn the hard way. Instead, you should carefully plan out your investments and strive to become aware as to what and how significant their risks are.
- 6+ years of experience in financial analysis
- 5+ years of experience as a writer, published author, editor, and screenwriter