Law Steeple Mba

10 investment biases that fried my nest EGGS Law Steeple Mba

I wrecked my portfolio My retirement nest egg could have contained over a $1 million. Invested at 8% in a balanced fund, I could have spent $80,000 a year on average. But I fell victim to 10 investment biases that wrecked my portfolio. After learning about my mistakes, I was able to recover and still grew it to $900,000. I had never heard of Warren Buffett when I began investing in the early 80s. Warren Buffett had not yet provided his secret to investing. I had no idea that for investing, the key to success is cost. I did not know you can avoid taxes on retirement income. I did not know my money could grow faster just by leaving it alone. My first contact with 'investing' was deciding which options for my 401k account. The HR person said "you won't lose money with this one." They steered me to the "stable value" and money market options. That was my first big mistake. I learned to avoid my biases and invest well.