What is the one investment tip I would give to people in their 20s? Avoid the shoot-the-lights-out mentality of investing. Younger people, particularly men, want to find the next great investment so they can turn $500 into $1 million overnight. Everyone dreams about picking the next great stock whether, that is Google ( GOOG) or Facebook or, back in the good old days, Microsoft ( MSFT). For younger investors, avoid the get-rich-quick mentality and instead adopt a slow and steady approach.I know this is not the sexy approach to investing. We all hear the cocktail chatter about how someone made a killing on this stock or that stock. In reality, the storyteller is likely using their selective memory only to mention their winners. They never mention their losers -- the Internet startup that went bust.
|There's no need for this to become your life.|