What advice would you give to a beginner, intermediate and experienced investor?
Thank you
Young: Don't be afraid to take risks when you are young. The dollar amounts are smaller and easier to bounce back from if you make mistakes (which you will also learn from) while making a few good investments can be life changing at this age. The older you get and the more responsibilities you have, the harder it becomes to take risks.
Middle Age: At middle age as you can start to see an outline of the finish line, don't make short-term decisions to try to accelerate your trajectory to get to the finish. Whether you are ahead or behind where you thought you would be, don't risk long-term progress by making sloppy or greedy investment decisions in an attempt to get there faster.
Retiree: You can likely (hopefully) spend more than you think. Enjoy it.
Beginner: Save and invest as much as you can, as early as you can. While saving a few hundred dollars here and there may seem futile and like you will never get to a point of a nest egg, you will be amazed looking back in 20 years at what time and compounding can achieve.
Intermediate: Never stop learning and growing but also know where to draw the lines on things you can do vs maybe things/strategies you should outsource to others. Start to define your circle of competence.
Experienced: No matter how experienced you think you are, be humble or else the markets will find a way to humble you!