Financial Blunder #2 – Getting investment advice from friends and family

I’m a believer in the adage, “free advice is often overpriced.” Many of us are often tempted to jump on the bandwagon when we hear financial success stories touted by Uncle Joe or a well-meaning colleague at work. The problem is these people don’t understand your unique financial picture and investment plan. Don’t be talked into buying multiple shares of a high-risk stock or a speculative venture when you are five years away from retirement – this may be the worst thing for your investment portfolio and future financial security.

Better to sit down with a skilled investment professional to go over your portfolio and determine a sound retirement investment and savings strategy.

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