This is my LEARNED advice..which I took myself...sadly, way too late in life...naturally.
OPINIONS VARY SO JUST CHILL OUT IF YOU DIFFER...I AM WAY PAST CARING NOW
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Saving is not investing or visa versa
Nobody gets rich with the middle man (bank/insurance company)
A middle man "makes a guarantee" because someone or some company knows something you DO NOT
(like buying Treasury Bills directly for instance)
It takes big big $$$ to make big fast gains on IPOs and such...
Diversify
As you approach age 55...start easing into the less risky funds etc...big negative hits now may not recoup
Buy low, sell high...learn what "dollar cost averaging" is
Start early in life...that is the biggest mistake of all...time grows money
Write down a Plan...
Have a Time Horizon..5-10-15-20 years...where do you want to be?
Be VERY careful who you listen to...they better be "been there, done that" or you could be very sorry
GOALS move you forward...set them!
I was able to retire a couple years early and fish fish fish despite my late financial awareness
One of my single Aunts revealed about age 70 that she had bought quality stocks for decades , sold when they doubled...
said her system was very very good....not greedy! when they doubled she sold......quality quality only.
Common guy mistakes I made: too many new trucks and boats! LOL
(Lordy, when I think of that I just shake my head...probably 100k less savings...MY BAD!)
I hope all my younger bass brothers...wake up 15 years before I did...they will be soooo happy down the road!