Money influencer Delyanne Barros has been investing since she was 28. She has more than a decade of experience and shared some of her insights in a recent TikTok video.
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She highlighted some of the common mistakes, warning signs and best practices to consider as you build your wealth. Here are three lessons she learned after 12 years of investing.
Also see three investing tips from Warren Buffett that you can’t afford to ignore in 2025.
Get-Rich-Quick Schemes Don’t Work
Barros started her video by explaining that it’s a myth that there are ways to get rich quickly in the stock market that wealthy people are gatekeeping. Instead, Barros said wealthy people tend to share information and talk about money.
That’s very different from people who sell get-rich-quick schemes who claim to have a “secret” method or system that can lead to additional income. Barros said she avoids day trading for this reason.
Wondering why people fall for get-rich-quick schemes? Melissa Murphy Pavone, CFP, CDFA, founder of Mindful Financial Partners, outlined how these schemes pick up traction.
“People often fall for get-rich-quick schemes because they appeal to our desire for rapid rewards with minimal effort. In a world where instant gratification is just a click away, it’s easy to overlook the fundamental principles of wealth-building in favor of high-return promises,” she said. “In the stock market and other industries, these schemes often play on the fear of missing out and the allure of fast gains, making them particularly tempting for those who feel they’re behind in achieving financial goals. Unfortunately, these shortcuts usually end up costing people more than they gain, not only financially but emotionally as well.”
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Beware of People Who Brag About Their Wins in the Stock Market
Barros’ second lesson is to avoid people who brag about their stock market gains. She explained that some people highlight their gains to create the illusion of being an intelligent investor when really they’re talking about the times they got lucky. They also tend to not mention their losses.
David Materazzi, CEO of Galileo FX, popped this bubble and explained that you have to take boasts about stock gains with a grain of salt.
“When people only talk about their wins and sweep losses under the rug, it sets up a false picture that can mislead new investors. Any real investor knows losses come with the territory; no one wins every time, and it’s often the setbacks that teach you the most,” he said.
Materazzi recommended focusing on investors who have “built real, lasting success over decades, navigating ups and downs with skill and patience.” Reading fundamental books like ‘The Intelligent Investor’ can teach investors a lot about the stock market from individuals who have withstood various economic cycles.
Retirement Accounts Are Great Resources
Barros recommended retirement accounts since they offer tax advantages and allow you to build wealth. While the right retirement account depends on your financial situation, most people can benefit from them.
In the video, she specifically warned about insurance salespeople who say that their policy is better than a retirement account. Insurance has value for many individuals, but it shouldn’t replace the money that you would put into a 401(k) or IRA.
Robert Persichitte, CPA, CFP, an adjunct professor at the Metropolitan State University of Denver and a certified fraud examiner, helps clients keep their money by avoiding scams, rip-offs and mistakes. Persichitte shared a valuable insight to consider when anyone touts financial products like insurance policies.
“People saying insurance is better than an IRA (especially a Roth IRA) are doing that because they sell a high-commission product. They downplay alternatives because, typically, they can’t make as much money if you invest in an IRA,” he said. “They have very solid-sounding arguments if you think them through, but they are scammers. First question before taking any advice: How do you get paid?”
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This article originally appeared on GOBankingRates.com: Money Influencer Delyanne Barros: 3 Lessons I Learned After 12 Years of Investing
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