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I wish learning how to invest was like learning how to play the piano.

When you play a wrong note on the piano, you hear it right away and can quickly fix your mistake.

To get the same feedback in investing can take years.

Here are common mistakes to avoid:

1. High investment fees

If two funds are tracking the exact same index, the one with lower fees will have higher expected returns. I compared two S&P 500 funds with different fees in a YouTube short. Check it out to see the impact over time: https://buff.ly/3Jcjspc

2. Young people not taking enough risk

You have decades for compound growth to work for you and the time to ride out any market uncertainty. Don't let all your investments be in conservative cash-like or fixed interest rate products.

3. Old people taking too much risk

You may have invested your 401(k) a long time ago into the fund that had the best historical performance. As you approach needing to turn your life savings into monthly income, it's prudent to review and make sure the risk you're taking on is appropriate.

4. Speculation

If your investment strategy excites you, you're speculating. It's okay to swing for the fences, but only with money you're fine losing if you strike out. Getting rich slow through a low-cost, globally-diversified portfolio that compounds over time is boring, but actually works.

And yes, this picture is my son at 6 months old wearing a Peyton Manning jersey playing the piano. Greatness doesn't happen by chance, it's a choice.