Big Wealth Mistakes the Super Rich Don’t Make
No one is perfect—not even the smartest or most famous among us. But some people veer closer to perfection than others.
Take the self-made Super Rich—a group we define as those with a net worth of $500 million or more that they earned through efforts such as starting a business. These extremely wealthy individuals aren’t immune to making mistakes with their wealth. But we find that they do tend to avoid certain crucial errors that might otherwise impact their bottom lines and financial futures. What’s more, these are the same mistakes that can trip up investors and families at just about any level of wealth.
The message: Sidestepping errors consistently can be just as important as making a lot of winning moves. You can potentially help yourself and your bottom line by learning what the Super Rich don’t do with their wealth!
With that in mind, here are three of the biggest financial blunders that the Super Rich make a point to watch out for so they can avoid them.
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Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is registered as an investment adviser with the U.S. Securities and Exchange Commission (“SEC”) with its primary place of business in the state of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. References to registration with the SEC do not imply any endorsement or approval of the qualifications of the firm, nor do they imply that the firm’s representatives have attained a particular level of skill or training. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.
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