CANFIELD, Ohio – In this excerpt from The Business Journal Roundtable Series featuring wealth building, financial professionals discuss common pitfalls investors face in the pursuit of long-term financial growth.
Stephen Daprile, president of Gem Young Wealth Advisors, highlights the inefficiency of over saving, citing potential liquidity issues and tax penalties.
Linda Carey, senior investment adviser at Farmers Investments, points to emotional investing as a frequent misstep, particularly during market volatility.
Sid Jones of Merrill Lynch echoes the need for a goal-oriented approach, noting that viewing money as a tool rather than a scorecard leads to greater satisfaction.
Brian Hostettler of Hawthorn Family Wealth emphasizes the importance of having a financial plan, stating that without one, investors are more susceptible to reactionary behavior and media-driven decisions.
Watch the full discussion HERE.
Read the full transcript HERE.