Lots and lots, most only cost me a small amount of money though.I feel it helps being able to learn from others mistakes, plus misery loves company!![:D]( "Very Happy")
What would you consider your worst financial mistake or choice that you have made in your life?
Hindsight is 20/20 but my late father invested his hard earned money in a farmer's Co-Op that went bankrupt and he lost close to $200,000.
I remember that one haunted him for many, many years.
Mistook a fee-based advisor for a fee-only advisor
Bought whole life insurance
Used a contract instead of loans to pay for med school (probably the biggest mistake by dollar amount)
Bought houses when I should have rented
Invested with a scammer as a manager
Invested with an incompetent as a manager
Added REITs to my portfolio in 2007
Partnerships with people whose view of "fair" was different than mine
Held on to life and disability insurance policies too long
Leave too much money in checking rather than moving it to a higher paying account
Luckily the good decisions have far outweighed the bad ones. There are few mistakes that a high income, a good savings rate, and a solid investing plan can't overcome.
Statistics: Posted by White Coat Investor — Fri Jul 19, 2024 1:11 pm — Replies 669 — Views 158191