One of the more challenging decisions when investing is when to buy and when to sell stocks. Whether your investment timeframe is long or short, trying to time when you buy or sell is not productive. AOG Wealth Management, your experienced investment management expert, shares four common investing errors and how to avoid them.
- Picking Popular Stocks. It is common to be enamored with a company or stock based on word of mouth or the financial press. With thousands of stocks to choose from, it is too limited of a tactic to pick one or a few stocks that will perform the best. It’s better to pick types of stocks or industries and then do so in a diversified manner so you are not exposed to a single poor performing company or industry. AOG Wealth Management, the expert in asset management, can help you diversify your investments.
- Developing an Emotional Attachment. Becoming emotionally attached to your stocks has the same challenges as picking popular stocks. It’s hard, but it is important to not have emotions play a part in your investment decisions. This is one of the main advantages of working with a financial advisor. Your advisor will look at your situation and your investments without the emotion that you may have when looking at your investments.
- When Profits are Realized. A profit is realized when you sell. The ideal time to sell a stock can vary and is generally based on your investment time horizon and overall goals. It is important when investing to define your timeframe and when to expect to sell an investment and realize any potential profit.
- Market Timing. As mentioned earlier, it is common for investors to think they know best when to buy or sell an investment. But emotions, lack of experience and other factors can get in the way. Working with a financial advisor can remove these hurdles and keep you on track with how best to manage your overall investment strategy.
AOG Wealth Management, the leading expert in asset management, can help you reach your financial goals. Give us a call at (866) 993-0203 for a complimentary consultation.
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