On this episode of Ask The Experts, Alka talks about the four most common investment mistakes that beginners can make.

KEY TAKEAWAYS

  • Not understanding the investment – whether investing in stocks, bitcoin, cryptocurrency – if you have not educated yourself on that particular investment you are guaranteed to lose money.
  • Lack of patience – you have to recognise the investment, keep your expectations realistic and be realistic with the time-line of how long a stock will give you a yield on return on investment.
  • Failing to set up a long term plan – allowing fear is common amongst investors. Fear, doubt and indecisiveness can creep in and other people, even friends and family can easily influence your decision making.
  • Attempting to time the market – this will kill you returns because you cannot time the market. There are three types of market: hot, cold and neutral markets. If you attempt to time and estimate how the market is going to move, you can’t predict. We don’t have a crystal ball as to how the markets will dictate for us.

BEST MOMENTS

‘It’s a myth that we have to go to college to get an education in investment, but you have to educate yourself by doing your due diligence.’

‘A doubt is the ego part of us that stops us in our tracks to not go forward making that investment.’

‘In Canada we’re in a sellers’ market, real estate is hot, it’s crazy everywhere.’

ABOUT THE HOST

Alka Sharma is a Real Estate Investor. She has a zest for life, helping her clients gain knowledge and insights into property investing. Alka takes her time to make sure her client’s needs are met.

Alka is an accomplished, professional ballroom dancer having competed both nationally & internationally.

Alka is grateful for all her experiences that have shaped her today as a successful Entrepreneur, Real Estate investor.

Instagram: https://instagram.com/alkasharma56

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