Over time, people don’t necessarily get better at managing money; they just make different mistakes, reports The Wall Street Journal.

Think about how more people are waiting longer to reach milestones such as marrying, buying a home and having children. That’s not a mistake, says WSJ, but it does mean that “a lot of complex financial questions [can] pil[e] up all at once.” That can lead to people struggling to balance financal priorities and, over the long term, failing to meet their goals.

When it comes to investing and saving nowadays, WSJ says common mistakes include:

  • people in their 20s failing to take on enough risk in their portfolios;
  • people in their 30s failing to balance overlapping financial responsibilities, including paying off mortgages and saving for retirement, while also raising children;
  • people in their 40s holding on to too much debt; and
  • people in their 50s and 60s making major financial decisions, such as starting a business, without considering future ramifications.

For more on how to avoid these missteps, read the full article and watch the below video.

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