You can still right your investing wrongs and make progress now.
January 31, 2020 2 min read
Opinions expressed by Entrepreneur contributors are their own.
Here are three common but bad investment strategies you should leave behind in the year 2020, according to Entrepreneur Network partner Phil Town.
- Putting off saving for retirement. Even though it sounds far-fetched, Town stresses that you should aim to reach $2 million in savings. Down the line in your retirement, you will realize that this amount is not a lot, and for a married couple, last less time than you anticipated.
- Stop creating more debt for yourself. Debt is a surefire way to keep you from becoming wealthy. Town mentions that the average household holds almost $7,000 in credit debt.
- Following the crowd. Your aim should be to buy high and sell low. If you’re always reacting to others, you’ll always be a step behind.
Click the video to hear more from Phil Town.
Related: Nervous About Investing? Think About Your Money This Way.
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This article is from Entrepreneur.com
