Avoid These Common Investing Mistakes Before They Cost You [Ep. 23]

Описание: Avoid These Common Investing Mistakes Before They Cost You

In this episode of GDS Unplugged, Glen Smith and Robert Casey discuss some of the most common mistakes people make in wealth management and investing, and how to avoid them before they can negatively impact your financial plan.

The number one mistake? Not having a financial plan. Without clear goals, an understanding of risk tolerance, and a defined strategy, it becomes difficult to measure progress or evaluate whether you’re on track over time.

We also dive into:
✅ Why estate planning is one of the most overlooked (and most important) parts of financial planning
✅ Considerations around tax strategies such as Roth conversions, tax-loss harvesting, and capital gains planning, and why they should be evaluated carefully
✅ How investor behavior and emotions can materially impact long-term results
✅ The risks of being overly concentrated in a single investment
✅ Why diversification and periodic rebalancing matter more than chasing winners
✅ How to recognize and avoid overconfidence and winner’s bias
✅ What Dalbar’s research suggests about common investor behavior and why many investors struggle to match overall market returns

This episode also covers practical guidance for new investors, including:
➡️ How to define financial goals
➡️ Understanding risk tolerance
➡️ Prioritizing debt
➡️ Building an emergency fund
➡️ Creating a flexible financial plan that can evolve over time

​​Whether you’re just starting out or already managing significant assets, this conversation is designed to help you make more informed decisions, better understand risk, and avoid common planning mistakes over the long term.

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Chapters:
0:00 Intro | Biggest Investing & Planning Mistakes
1:02 Why Estate Planning Gets Ignored
3:52 Client Story | The Driveway Scam
4:44 The Hidden Cost of Skipping Tax Planning
7:05 The #1 Mistake People Make
8:16 Avoiding Overconfidence in Your Plan
10:11 The Risk of Putting Everything in One Stock
13:04 How Behavior Impacts Your Returns
15:30 The Mistake People Repeat Most
17:31 Key Takeaways
18:20 New to Investing? Where to Begin
20:21 Outro | Submit Your Questions

Song Info
Title: Brand New Me
Artists: BINKS!
Musicbed Sync ID: MB015BXBUFCI0SZ

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