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.|