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CBSMoneyWatch: The 7 Deadly Financial Mistakes

6. Assuming too big a risk.

If you are going to make a risky investment, such as purchasing a large position in a single stock or making an investment in a tiny company, only allocate the amount of money you are willing to lose, that is, an amount that will not really affect your financial life over the long term. Yes, there are people who invest in the next Apple, but just in case things don't work out, limit your exposure to a reasonable percentage (single digits!) of your net worth.

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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