Here are five things you should be careful of in 2023. With rising interest rates, higher inflation, and the threat of a recession. Watch this, and happy holidays!

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Timestamps:
0:00 - Start Here
0:23 - Mistake #1
3:06 - Mistake #2
4:35 - Mistake #3
6:26 - Mistake #4
8:35 - Mistake #5

1. PANIC SELLING
This is described as selling off 90% or more of your household equity assets over the course of a month. The worst part is that 30.9% of the investors who panic sell never return to reinvest in the market. And that could be devastating because some of the best returns may follow some of the biggest dips, according to research from Bank of America.

2. GROWTH STOCKS
While they won't do poorly in the VERY long run, in calendar year 2023 I do not believe growth will do well. Since a lot of growth stocks are unprofitable and they highly leverage debt and borrowing, a rise in interest rates is going to kill the way that growth stocks are valued by the market. They’re going to be less likely to borrow money and invest in growth, so these growth stocks will slow down. You can still DCA into growth stocks you plan on holding for 10-30 years+, Investing is Personal, and there still may be good opportunities for some cheap valuations in 2023.

3. CASH IN A CHECKING ACCOUNT
Because interest rates from the Federal Reserve are so high for the foreseeable future, there’s a SIMPLE and easy way to get at least 3.75-4% on your cash while it sits SAFELY in a bank account: THROUGH A HIGH YIELD SAVINGS.

Most people are just so lazy to move their cash out of their big bank checking accounts. According to a recent discovery, Americans are leaving $42 billion dollars of INTEREST on the table PER QUARTER because they refuse to get any amount of high yield. That’s crazy to me!

4. COPYING YOUR FRIENDS WITHOUT UNDERSTANDING THE INVESTMENT
Investing is super personal. You need to assess your own age, your risk tolerance, your time horizon, and exactly what you are looking to get out of investing. For example, I have a friend, he has his house paid off, his 401k fully funded, and he is making a high income. He has an investing account that has $200,000 dollars in it where he literally just buys YOLO investments. He’ll post about them on his Instagram story, and its likely if he lost that $200k, he would be just fine and not financially ruined. Don't copy your friends blindly.

5. TIMING THE MARKET
The takeaway here is that, perfect timing every single year for 20 years is going to be statistically impossible and impossible to predict, so the next best thing we can do is either dollar cost average or just invest immediately. Even if you DO time it perfectly every single year for 20 years, the difference isn't going to be astronomical.
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PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel

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