Bad Investing Advice: What to ignore [and why]

Investing is an excellent way to build long-term wealth. But how do you decide the best way to invest?

You might ask your friends or family for advice. Perhaps you see how billionaire investors, like Warren Buffet, choose their investments. Or, maybe you hire a financial professional for guidance.

The problem is there is so much advice out there; it’s hard to sort the good from the bad. Most people giving investing advice mean well. But that doesn’t mean their recommendations are right for you.

Unfortunately, the consequences of poor investment advice can last for years. Read on to learn about bad investing advice you should ignore — and why.

Bad investing advice to ignore

Below is some of the worst investing advice out there — advice that should raise red flags. But this isn’t an exhaustive list.

No matter the recommendation or where it comes from, it’s wise to do your homework. Then you can determine the right investment approach for you.

You should talk to our financial advisor.” — your best friend.

You trust your best friend. But that doesn’t mean their advisor has the best financial advice. They might pay high management…