Many first-time investors get overly idealistic and start seeing dollar signs everywhere. But you need to take a step back. Too many people are looking for the quick way to get rich, but having that mentality can burn a hole in your pockets…FAST.
A big mistake first-time investors make, especially if it relates to the stock market, is not understanding the fees involved. Unfortunately, many financial institutions have quite high fees that eat away at any of your potential gains.