MyMoney Online, The Personal Finance series with Warren Ingram, Evergreen Content

7 things you should NEVER do (if you want to be wealthy)

The Money Show’s Bruce Whitfield interviewed Galileo Capital Financial Advisor Warren Ingram for his weekly personal finance feature.

Ingram discussed the following seven things you should never do if you want be wealthy:

  • Trade your investments as often as possible.

  • Own shares or investments that are all more expensive than the index (e.g. buy tech companies with a Price/Earnings ratio double or triple the index P/E).

  • Have a range of investments that are not diversified.

  • Buy investments you don’t understand.

  • Don’t pay tax.

  • Live on debt.

  • Buy expensive vehicles.

Listen to the audio below for more detail.

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Article brought to us by Old Mutual.

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