13 dumb investing moves and how to avoid them

Updated

The concept of saving for a rainy day has probably been around for as long as humans have. It's virtually instinctive to prepare for an uncertain future by setting something aside — whether it's extra food, a trunk of gold ingots or an emergency fund in the bank.

But just saving is often not enough to cover a long-term crisis — and is certainly not enough to cover the ever-rising cost of sending kids to college and living comfortably in retirement. This is especially true right now — with interest rates at historic lows, savings accounts grow at a glacial pace. Your bank savings account is more secure, but only marginally more profitable than stashing your money under the mattress.

Ideally, we want to make our savings work as hard for us as we do for it — through investing in the right mix of assets, hopefully without losing anything in the process. But we often fall down on that task. So, we are here to provide you a cautionary checklist of things NOT to do with your money:

More from Money Talks News
Thieves strike a lucrative new target in California
Save hundreds of dollars with August printable coupons
Why you are waiting longer at Starbucks

Advertisement