Here’s a breakdown of how “amateurs” invest their money:

1. They think the things they hear in the financial media is actionable investment advice

2. They change their investments based on politics

3. They obsessively monitor their investment accounts

4. They make buy and sell decisions based on short-term events

5. They are so ingrained in doing all the above that they shun the idea of paying for professional advice

Bottom line – do not fall victim to these amateur traps!