5 Little Mistakes Keeping You From Getting Rich in the Stock Market

Trading Too Much

The more you buy and sell your investments, the greater your chance of losing money. If you invested $10,000 in the S&P 500 in 1995 and stayed invested through 2014, you would’ve earned 9.85 percent annually or $59,593. Yet, if you missed the best ten days during that 19-year period your return would have fallen to 6.1 percent. Nineteen years later, your initial $10,000 would be worth $30,803.

Ignoring Fees

Before turning over one dollar to a financial advisor or investment fund, understand the fees. A conservative investor and invest your $100,000 inheritance for 20 years in funds that returns an average of 4 percent annually.

Not Investing Enough in Your 401(k) to Snare the Employer Match
If your employer matches a percent of your contribution into your 401(k) or 403(b), then you’re throwing away free money if you don’t contribute. Many employers match your own retirement plan contribution dollar-for-dollar up to 5 percent. If you’re earning $70,000 per year, not investing $3,500 in your own retirement account is not only depriving yourself of the chance to build up a robust retirement account.
Putting Investments in the Wrong Accounts
Taxes play into most financial decisions, and it’ll cost you to place your financial assets in the wrong accounts.

Once you’ve maxed out your 401(k) match, it pays to be smart about which investments go where, as different investments get taxed differently.

Trying to Beat the Market

Don’t try to beat the market, because chances are that you won’t. Chasing glamorous momentum investment strategies aren’t likely to pay off.
To get rich in the market, choose a sensible asset allocation, invest in low fee index funds, and avoid these investment mistakes. You won’t become an overnight millionaire, but over the long term, you’ll be set up for financial success.

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