You may have seen the TV show on Spike called 1000 Ways to Die which essentially profiles all sorts of deadly, freak accidents. Ghoulish stuff for sure, yet surprisingly thought-provoking. In some ways, author, actor and humorist Ben Stein has written the monetary equivalent of this quirky show, with a book that lists dozens of ways that people kill themselves financially.
For this installment of Investing 101, we narrowed it down to the top three ways and began by asking the author of "How to Really Ruin your Financial Life and Portfolio" why they landed at the top of the list. Remember, these tips are things Stein advises you NOT to do.
1) Trade Frequently
"If you trade frequently you're almost guaranteed to lose money," Stein says in the attached video. "Unless you're a high frequency trader with access to incredibly powerful computers, a limitless base of capital and access to inside information" the only road to success is to "buy and hold big, broad indexes forever."Read More »from Top 3 Ways to Ruin Your Financial Life: Ben Stein