I lost thousands of pounds investing, so you don’t have to. Here are three mistakes I made. Number one, I didn’t understand the fees. I chose an expensive provider that cost me dearly. The lesson is that if you’re paying more than 0.3% to 0.5% in fees, you’re probably paying too much. Number two, I didn’t diversify. I went for the Vanguard Life Strategy Funds, which are really popular, but they have a bias towards the UK. I inevitably lost thousands compared to the rest of the market by using this strategy. The lesson is always diversify. Go for broad index funds. Even for me, the S&P 500 is too biased towards the US. There’s no guarantee the US will continue to be the powerhouse that it currently is. And number three, I literally just lost thousands of pounds last week because of the mini stock market crash that just happened, but I’ve already gone back to where I was a week ago, and I’m actually up thousands of pounds now. Before, I would have panic sold everything, but it always recovers. Whether it takes days, whether it takes years, it will recover. The lesson is don’t panic. Just keep up with your investing. Index funds and chill.