"No, I don't consider myself an investor." According to a recent study by Fidelity, that's the response you'll get from 91% of millennials even though 63% of them have some kind of investment account. Clearly there's a disconnect here, and it's causing millennials to make some serious investing mistakes.
As a professional millennial investor and investing educator, the top seven investing mistakes I see millennials making are:
- Not starting soon enough
- Letting a lack of knowledge hold you back
- Assuming you can't afford to invest
- Contributing a fixed $ amount instead of a %
- Not choosing a side in the Roth vs traditional debate
- Not maxing your employer match
- Being too conservative
To learn more about each of these mistakes and how you can avoid them, check out the rest of this post that I wrote for my friends over at TheMillennialsNextDoor.com.