This is a topic I find interesting, so I'll kick it off with my thoughts and see what others come up with. The "I'm young and have time to recover" is an attitude/phrase that I don't like, perhaps because I fell into this group in my early 20s to some extent, perhaps it goes hand in hand with been less risk adverse at that age. It is something that can sabotage your wealth and investing in at least three ways a) when you have time on your side to steadily accumulate wealth you place your cash in high risk/high return investments that you really don't need to, take advantage of time and compounding b) when they (almost) inevitably fail they can loose faith in investing and stop. Sure there are success stories out there of people that made risky investments and did well, however there are 10 failures for each success you don't hear about. c) When young each investment tends to be a large portion of total wealth, there is a big difference between taking a risk with 10% of your invested wealth vs 50% or more when you are just starting out. I made these mistakes with spec miners and pharma companies. I could look back and say it was a relatively small some of money, however invested well it would now have compounded to quite a respectable sum. You can't replace that lost opportunity. Another pitfall I have seen is people feeling the need to do something different when starting or only having a small amount. I have seen people explain how they would invest $1 million one way and then because they only have $2 thousand they invest it in a totally different way, usually trying to make a huge return in a short time. Which is really just falling for b and c above. Whatever your stage of life and investing (small or large) your strategy should be the same - optimal return without undue risk.