Don’t leave your success up to luck…
Hey there…it’s me, Felix, your personal Ace of Investing.
We all worry about our retirement, but if you’re making any of the mistakes we’re going to talk about today – you’re right to be worried. But, instead of just sitting around and worry about things, we’re going to equip you to do something about it and get back on track.
If you’re ready to up your ante, keep reading…
Ah, retirement. I don’t know about you, but I am really looking forward to it one day. And my plan is to retire early with as much money as possible so I can sip pina coladas on the beach without a care in the world. If you have the same goal, or something similar, in order to have a carefree retirement, you need to make a plan for your retirement savings and investments now if you haven’t already done so. And part of having a plan is not only knowing what to do, but also what not to do. So today we’re going to look at four costly mistakes that could be sabotaging your retirement plan, and the scary thing is, you probably don’t even know you’re making these mistakes.
One of the biggest mistakes people make when planning for retirement is missing out on their employer’s match. If you are lucky enough to work for a company that will match your retirement contributions up to a certain amount, you need to make sure your contributions at least match the contribution level your employer will make. For example, if your employer will match up to three percent, the minimum you need to put in your retirement portfolio is three percent. This doubles your contribution automatically, so you end up with a whopping six percent with only having to put in three. Make sense? So make sure you are getting your employer’s full match. Failing to do so is like winning a game of poker and intentionally leaving half of the pot on the table. I mean, who does that? So go check those contributions now.
Another common mistake is failing to keep track of any trading or investing fees your portfolio has. It is easy to lose money if you have to pay steep transaction fees, account fees, or financial adviser fees. Make sure you are taking these fees into account or they just might come back to bite you down the road. These fees can add up quickly, and as your portfolio is reduced each month by fees, it leaves you with less money to grow over time, meaning you can miss out on thousands of dollars over the years.
What other mistakes could be sabotaging your retirement portfolio? You’ll be shocked at how simple some of them really are.
TRUE MARKET INSIDERS:
Warning: Move Your Money ASAP
The clock just started on the biggest stock market event in twenty years. And the next couple months could determine who will become extremely wealthy in 2022 – and who won’t. [Full Story…]
The S&P 500 soared on Monday – this is why
The S&P 500 was the hot ticket on Monday as prices soared during trading on Wall Street. The SPDR S&P 500 ETF Trust was even up an impressive 1.44 percent at the closing bell. But what pushed the S&P 500 to such great heights? And what else was trending upward on Monday?
FACEBOOK OPTIONS UPDATE
Facebook option traders are betting on this as the social media giant’s stock continues to soar
While most tech stocks have been extremely volatile over the past few months, Facebook has definitely been an exception. The social media giant’s stock has performed well while other tech stocks have been on a roller coaster ride. On Monday, Facebook even hit an all-time high, as it gained more than three percent on the day. But it appears that Monday’s high could just be the tip of the iceberg. Option traders are anticipating an even higher surge for the stock. So what has so many people so bullish on Facebook, what are option traders betting on, and what does it all mean for you?
LET’S ADDRESS THAT MINDSET
Investing can help you open up a second stream of income
“Never depend on a single income, make an investment to create a second source.”
― Warren Buffett
I’m sure you’ve probably heard the saying “don’t put all of your eggs in one basket.” The same applies to your income. As wise Warren Buffet explains, it’s never smart to depend on a single source of income, especially if you’re trying to build wealth and prepare for the future, such as retirement. But how can you get multiple streams of income without working multiple jobs? That’s where investing comes in. If you invest wisely, it can serve as an additional source of income that can help you build wealth and secure your financial freedom. When a lot of newbies start investing, putting money in the market makes them feel as if they’re just giving money away, money they could otherwise spend or hold onto.
But it’s actually the exact opposite. Putting money in the market puts your money to work for you, and it builds a nice return over time. One that can be used to supplement your income. So make sure you’re not just relying on one source of income to build wealth or prepare for your retirement. Investing is the key to building wealth and unlocking financial freedom – so make sure you’re investing properly to supplement your current income. Who knows, you just might retire early if you don’t put all your eggs in one basket.
CRUISE STOCK SURPRISE
These cruise stocks were a nice surprise during Monday’s trading
In a surprising twist on Wall Street, several cruise stocks set sail during Monday’s trading. Norwegian Cruise Line, Royal Caribbean, and Carnival all soared on Monday after suffering an over-year-long slump due to the pandemic. With cruise lines still being shuttered due to a moratorium on cruising, the positive trading trend on Monday definitely caught a lot of people by surprise. So what made these cruise line stocks take off suddenly? And does it mean you need to double down on a few before they soar too high?
Crude oil prices are crashing – here’s what you need to know
After faring well over the last few weeks, crude oil prices tumbled seemingly out of the blue on Monday. Though analysts keep calling for a rebound soon, traders aren’t so bullish on oil stocks and they made that clear during trading yesterday. So what is up with crude oil taking a dip all of a sudden? And what does this mean for you?
CRYPTO AND YOUR PORTFOLIO
Should cryptocurrency have a place in your portfolio? Here’s what the analysts say
It all depends on several factors.
Since cryptocurrency is obviously here to stay, you probably need to ask yourself if it belongs in your portfolio or not. Cryptocurrency can be a tricky investment. It’s volatile enough to make it an extremely risky investment to bet on, but it performs well enough sometimes (I’m looking at you, Bitcoin), that it’s hard to ignore as a lucrative option.
So, what are analysts saying you should do?
For starters, it is important to note that cryptocurrency isn’t for everyone. Sure, it can be exciting and lucrative. But it can also break your heart and cost you a lot of money if it goes the wrong way. Determining if cryptocurrency is right for you really depends on your investment strategies and portfolio set up. If you have a well-funded, large, and extremely diverse portfolio, you are probably in a great position to add a little crypto into the mix. If you lose out, it won’t completely bankrupt you or tank your entire portfolio. But if you hit it big, you are still invested enough to make it worth your while in regards to a nice return.
But exactly what kind of role can cryptocurrency play in a well-diversified portfolio? And are there other instances when investing in cryptocurrency makes sense? Check out this advice from some of the top Wall Street analysts to find out before you double down on something that could bankrupt your future.
Thanks for taking the time out to see what the Ace of Investing had up his sleeve today.
Action is one of the best investments,
Editor-in-Chief at Ace of Investing
P.S. Know someone who might benefit from Ace of Investing? Send them here to get opted in!