7 Biggest Investing Mistakes [I wish I knew this sooner]

[@Nanalyze]

The quickest way to wealth is to decide to stop being poor. For more great tips like this, you need to be subscribed to this channel. kzbin.info💰✈💃😎

[@neuroperformance8803]

finding a gir . .. guru. that was funnny

[@Nanalyze]

@@neuroperformance8803 There are a couple gems in there ;)

[@screamotrucker]

Bookmarked in "best ever" playlist and at 67 y/o shared with all my Gen Z friends looking to me as a mentor. I made EVERY SINGLE ONE of these mistakes myself. Thank you for this content. Everyone has an opinion but some things are just consistent truths.

[@Nanalyze]

You're very welcome. Really appreciate you sharing this with the youth! In an era of betting markets and meme stocks, they desperately need to hear this advice.

[@shefudgrupa]

Not starting to invest earlier was a mistake. I gained 2-3 years in 2023 by adding much of my savings into NASDAQ positions in late 2022.

[@Nanalyze]

Great point that wasn't covered in the video. Investing early has a massive impact on performance (more than just intuitively). Unfortunately, newbies often spin wheels a lot because of the pitfalls laid out in this piece.

[@mannycarrasquillo6910]

Excellent info. Thank you.

[@Nanalyze]

Great to hear, thank you

[@xerojer]

I'm 34 now. One of my biggest mistakes was allowing myself to be slowly lulled into stupid debts that eroded my monthly cashflow, starting with buying a house and car (financed) at the same time when I was 30. This led to occasional credit card balances and personal loans. Buying my house was definitely not a mistake (3.5% interest and great capital appreciation), but this started a period of my life where my monthly obligations continuously grew and my savings ceased. Just because you have the income to afford another monthly payment doesn't change the damage it does to your ability to save. Keep monthly obligations to a minimum. You don't want to be on the wrong side of interest when you can be getting 5% guaranteed in a bank account.

[@Nanalyze]

Great interest rate on the house! Credit cards and personal loans are killers. When I first started making proper money, the first thing I did was look at how much income I had to afford more monthly payments. I even recall creditors looking at that. "You make $4000 a month, you only spend $3500, you can afford $500 a month payments." That will always lead to living paycheck by paycheck. You are absolutely right. Always live below your means. You're very young still! You now made all those mistakes, and you have 30 years of income left to invest. Some people don't learn those lessons ever. Thank you for sharing your story! Joe P.

[@Jop_Kop]

Thanks for sharing. I never spent anything and never earned anything until 8 years ago when i was your age. Now I opened my eyes and look at money in a more grown up way. Investing, building, and never gambling on hypes. It's better late than never I suppose. I can't stop thinking about everything i spend, how it's going to generate wealth for me, or stop the wealth from leaking out. I can't imagine how I used to not care at all. I hope you will do well.

[@chimchu3232]

I found myself in a similar place last year, bought a house and a truck and slowly realized I wasn't saving or investing anywhere near the rate I used to. It takes a lot of work to stay focused and not fall back into that lifestyle, at least for me. here's to getting back on track and staying there

[@Nanalyze]

@chimchu3232 We've all been there man. Especially when you're younger, it's just very tempting to dabble in consumerism instead of saving and investing. Good to see you recognize it and are focusing on keeping it under control. 🍷

[@pedro.arroyo]

Great video! Minor comment on the table at 4:10...TD Ameritrade was acquired by Schwab in 2020.

[@Nanalyze]

You're absolutely right! Not sure why the table didn't reflect that since it was 2023 data. Glad you liked the piece! :)

[@jeffmiller1140]

I wish you guys had been around, years ago!! I'm playing "catchup" these days. Your content is extremely helpful!! Thank you!

[@Nanalyze]

We appreciate the kind words! Playing catchup is better than not playing at all. Remember there are no shortcuts to wealth and that slow and steady truly wins the race here!

[@jeffmiller1140]

@@Nanalyze Doing it! DCA all the way! Thanks again!

[@johnhayes4255]

Avoid biotech like the plague. Accounts for most of my losses. You can do better in Vegas. Lesson learned.

[@mbabcock111]

For every 💵 invested in penny stock, invest 💵 in QQQ as a hedge?

[@Nanalyze]

Do NOT invest in penny stocks. It's a simple rule that saves people from getting their asses handed to them by penny stock scammers of which there are many.

[@daliborbobr6331]

I do invest in biotech, but I am MD PhD and know the market and how to read drug studies.

[@ericcuellar9549]

This comment is a buy signal on biotech

[@Nanalyze]

@@daliborbobr6331 The problem with biotech isn't people lacking subject matter expertise. It's the fact that so many of the external risks can't be controlled. Many drug studies aren't that complicated to understand, and oftentimes subject matter experts become overly confident in the story and are blindsided by risks they didn't see coming.

[@BritishwarrenBuffett]

First time watcher, just subscribed loved the video! Very well put together and illustrated. Watching from GB 🇬🇧

[@Nanalyze]

Very glad to hear such feedback! Around half of all our readers/viewers/subscribers are from outside the United States and we love having such an international audience. Welcome!

[@josephmolieri5439]

Your content is great. I love the no B.S. presentation and how you go through the nuts and bolts. If I'm investing I want the details!

[@Nanalyze]

Thank you very much for the feedback! That's useful.

[@thedistance6755]

Are there any foreign funds or ETFs that you recommend? I can't find any that have a worthwhile return in the past year. I am tempted to just buy companies like BABA & JD, but that is probably a bad idea.

[@Nanalyze]

We don't recommend anything on this channel except that people follow investing best practices to growth their wealth as responsible investors, not speculators. We've covered international investing in a number of videos such as this one on Asian funds: kzbin.info/www/bejne/rZWkfmhontGWq80

[@thedistance6755]

@@Nanalyze thank you!

[@RDRLegend23]

What are your thoughts on M1 Finance?

[@Nanalyze]

We know nothing about it to be honest, but seems lots of KZbin "influencers" try and push assets onto that platform. We don't see the need to dabble in offerings like that when trading stocks is practically free these days.

[@Jop_Kop]

Nanalyze i love the content as always. You fixed a lot of my errors in the past. One thing I still don't understand: As a dutch (European) guy, I got seriously hurt once by owning stocks in dollars, when the dollars went down hard. I like investing in my own currency (Euro). Can you explain why I should not invest in our local AEX? It is the oldest exchange in the world. Or tradegate Berlin for example? Not being critical, I just don't understand your point well enough. Sorry if I am slow but it's important to me to understand this.

[@Nanalyze]

Your question is an excellent one. I though of this not long after the video went up. That brokerage slide was targeted at Americans when half our audience isn't from America and might have questions about that. I'm not personally familiar with brokerage firms outside the United States, and I should have said that. Just do your own due diligence on brokerages and you'll be fine. Sounds like the names you mentioned are established and reputable. Thank you for raising this! Joe P.

[@Jop_Kop]

Okay Joe thanks for your reply, I take your opinion very seriously. Thanks for all the lessons. @@Nanalyze

[@neel-uronchondi9339]

‘Investing in stocks, not companies’ - this is the very common mistake most people does!

[@Nanalyze]

Precisely right!

[@mk-ki3jc]

One of the best thumbnails ive seen😂

[@Nanalyze]

Thank you for that! :)

[@mk-ki3jc]

@Nanalyze thank you. I came for the info but stayed for the comedy.

[@socalsilver6397]

What about nuclear energy? Uranium specifically? I’ve noticed a 180° switch in sentiment regarding nuclear energy. Lots of power plants being built. Fuel supply in deficit for foreseeable future. Thx

[@Nanalyze]

We covered uranium here: kzbin.info/www/bejne/Y4SXfmCogNBna8U

[@socalsilver6397]

@@Nanalyze Cool. I’ll check that out. Cheers

[@davidbest8912]

Any chance on Palantir update?

[@Nanalyze]

That's going to be a written research piece that should be out in the next several weeks.

[@b152349]

I'm still working on that

[@Nanalyze]

;) You'll get there man! We've all had to make that journey. It's a slog, but hang in there and keep being a PHD!

[@sublyme2157]

I have a pair of Timberlands from the 90s for two reasons: 1. They made great shoes back then, and 2. So I can tell young people who are trying to give me advice that I have shoes older than them. :) Seriously though, this video is great advice to everyone seeking knowledge on the subject. I wish I learned this stuff twenty years ago!

[@Nanalyze]

Love that story! Timberland sure did used to make quality back then - and timelessly fashionable as well. Please do share this video with young people in your life because they'll be better off for it. Thank you!

[@scottlink183]

I also still have a pair of TimberLand boots. I bought them in May of 1994 from a street vendor in NYC paid $10 my brother borrowed the boots that summer when he worked in a furniture factory in Gardner MA. He broke them in nicely for me🙂 Still where them today.

[@Wildboy789789]

I do mess with microcap startups... and i listen to NONE of the hype, the only way the small corps work is if they grow and profit, usually these companies are invisible to the mob

[@Nanalyze]

Not listening to hype is a great move. Micro-caps underperform when it comes to reward vs risk which is why we avoid them.

[@themusic6808]

A good way to treat speculative investing is that it should never account for more than 10% of your portfolio and you don’t invest any more than 1,000 into any one company. No one knows what the next Microsoft is but if you’re lucky enough to find it that will be enough. 1,000 into Microsoft at their IPO would be 3,700,000 today, that’s a 24% CAGR over almost 40 years. If you’re hoping for a massive ROIC you don’t need actually to bet big on something, unlike people yoloing 98% of their portfolio on Tesla.

[@Nanalyze]

The 10% rule is good since dollar amounts are relative to everyone. "The next Microsoft" is a dangerous myth of course, but we get the point you're making. As the old saying goes, "If it's the next Microsoft, all I need is a little. If it's not, I'm glad I only invested a little."

[@austinparker5155]

Merrill lynch?

[@Nanalyze]

Yep, they're a household name. Our list included the biggest brokerage firms by AUM which all happen to be very legitimate. There are many other legitimate names out there, we just wanted to give newbies somewhere to start. This also brings up the topic of fintechs for which there will be systemic risk. Each investor needs to make those judgement calls. For example, we have a meaningful amount of money invested in wine/art on two fintech platforms. We trust the founders and businesses enough to do that. The systemic risk of every platform needs to be analyzed. For newbies, it's easier just to point them to known goods for now. As they become more sophisticated (more to lose) they will (should) naturally start scrutinizing things more.

[@George-f8h]

The easiest scam to spot is when someone is selling a course on social media that promises $10,000 monthly income working PART TIME. Heck, if such a system actually works, I would be working 20 hours a day, not only a few hours... and I would keep the money-making secret to myself.

[@Nanalyze]

You are absolutely right.