This article was submitted by a guest contributor. If you would like to submit an essay, email hello@financialhorse.com!

I started investing at the age of 17. My older sister noticed that I had a lump sum of cash from part-time jobs as well as bursary awards, and advised me to invest it.

That was the start of my investment journey and I wanted to share the Top 3 Mistakes I made along the way as a beginner investor.

Mistake 1: Not knowing what the products were

My first ever investment was Dollar-Cost Averaging into the Straits Times Index (STI), as recommended by my older sister. I set up a Regular Savings Plan (RSP) to deposit $300 every month into the NikkoAM STI ETF.

While investing in the STI ETF is far from the biggest mistake most investors make, the travesty was investing into a product I had no clue about.

Advertisements