What mistakes do people make when investing in mutual funds?

Probably one of the biggest mistake that people make is they buy the wrong kind of fund. They generally will buy a loaded fund from a salesman because the salesmen are the ones who are going to find you.

If you go out and find the best funds you will find the no-load funds but if you wait for some financial professional to come to you the chances are that you're not going to have a fill with your financial planner, you're going to have a commission-based mutual fund on a salesman and then you're going to get loaded funds.

The second mistake that people make is they think that you can’t buy and sell so they’ll put money into their investment but they’ll never bother to rebalance their investments and you need to rebalance your investments constantly at least once a year in order to get the best returns and the lowest profitability.

So just the fact that you rebalance every year will end up boosting your returns along the way.