Suze Orman says ignoring this will destroy your investing future – here’s what you need to do now to ensure your financial success

Suze Orman, acclaimed financial guru known for her candid advice, warns of what she sees as the biggest danger to your investment future. In a recent episode of her hit podcast, Women and moneytitled “The Suze School: Avoid the Biggest Danger to Your Future Investing,” Orman detailed the critical mistakes many investors make and how to avoid them.

Don’t miss:

Orman, a #1 New York Times bestselling author and household name in personal finance, began with a story that rings true for many investors. She talked about a friend who regretted not buying stock in a company before it went up in value. “The biggest danger to your future investment success is your past desires,” Orman warned.

She pointed out how easy it can be to get lost in regret over a missed opportunity. “At some point in your investing career, you look at stocks like Nvidia or Apple or Amazon — companies that have just exploded in value — and you just think, ‘If only I had taken $10,000 and bought the stock back then.’ , would be worth millions today.”

See also: Don’t miss the next Nvidia – you can invest in the future of AI for just $10.

However, Orman pointed out that this mindset can be one of the biggest pitfalls. “You spend all your time calculating how much money you could have made and then waste more time hunting for the next big thing.”

Orman also encouraged investors to look for current opportunities rather than missed ones. “There are always good stocks out there,” she said, encouraging listeners to invest in things that have more opportunity for expansion and growth rather than chasing yesterday’s giants. “Don’t let your past regrets cloud your judgment. Look at what’s available now and invest wisely.”

Trends: Elon Musk and Jeff Bezos are optimistic about a city that could dethrone New York as the new financial capital of the US. Investing in its booming real estate market has never been more affordable.

Orman also cautioned against anxious investing — a common problem he’s encountered throughout his nearly 40-year career. “People are so caught up in looking at the markets and the news,” she said. “When stocks go up, they’re afraid of losing. When they go down, they panic.” Orman pointed out that emotional reactions can lead to bad decisions. “You see stocks go down and all of a sudden you’re depressed and worried. That’s when mistakes happen.”

The story continues

Her advice? Stay calm and stick to your strategy. “If you’ve invested in good quality stocks or ETFs, sometimes it’s better to stop following the markets. In the long run, they’re probably going to be fine,” Orman said.

See also: This Billion Dollar Fund Invested in the Next Big Housing Boom, here’s how you can sign up for $10.

The financial guru’s main takeaway is to invest using dollar cost averaging—a strategy he’s long recommended. “You have to see a market decline as your friend,” she said. “When there’s chaos in the markets, you should start dollar cost averaging. It’s a way to take advantage of lower prices without trying to time the market.”

Orman reminded her audience not to rush into investing for fear of missing out. “Nothing goes straight,” she said. “If a stock is rising fast and looking strong, don’t be afraid to buy more. But always be patient.”

Finally, Orman stressed the importance of staying committed to your investments, even when the markets get tough. “The key to financial success is not to panic when times are tough,” she concluded. “Stocks will go up and down – that’s how the market works. But if you stay brave, stick to your plan, and avoid selling too soon, you’ll set yourself up for long-term success.”

Read on:

“THE SECRET WEAPON OF ACTIVE INVESTORS” Up Your Stock Game With The #1 “news & Everything” Trading Tool: Benzinga Pro – Click Here To Start Your 14 Day Trial Now!

Get the latest stock analysis from Benzinga?

This article Suze Orman Says Ignoring It Will Ruin Your Investing Future – Here’s What You Need To Do Now To Ensure Your Financial Success originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.