MyMoney Online, The Personal Finance series with Warren Ingram

5 things you believe about investing that are keeping you from getting rich

(Also read "4 beliefs about shares that keep you from growing wealthy")

There are many myths about investing; some of which you might believe.

Lucky for you and me, belief in a myth doesn’t make it true.

These false beliefs can be challenged and they can change, although there’s usually some resistance involved.

We interviewed Warren Ingram, Financial Advisor at Galileo Capital, who debunks the most widely held, yet patently false, investing myths.

Listen to the audio (scroll down) for more detail.

“It’s too late to start.” No. It’s never too late.

Warren Ingram, Galileo Capital Financial Advisor

You believe you can, but it’s impossible to time the market.

Warren Ingram, Galileo Capital Financial Advisor

It might work for your mate, but it’s not to say that it’ll work for you. People always talk about their successes, not about their failures.

Warren Ingram, Galileo Capital Financial Advisor

Past performance is no indication of future success. The top performing fund this year will rarely be the top performer next year.

Warren Ingram, Galileo Capital Financial Advisor

Putting your money in cash is incredibly risky. You guarantee you won’t beat inflation.

Warren Ingram, Galileo Capital Financial Advisor

This article first appeared on 702 : 5 things you believe about investing that are keeping you from getting rich


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