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Their combined fortunes reached $26.1 trillion, an increase of 7% from 2022.
Here are four investing mistakes made by millionaire clients of two finance experts.
Also seetwo investing mistakes wealthy millennials are making.
Waiting for the ideal time to invest or allocate funds toward a specific asset can be extremely challenging.
Anyone who has invested money understands that there arecertain assumed risks.
This is one mistake that millionaires often regret because nobody has a crystal ball into the future.
A skilled advisor can help you avoid many common pitfalls and provide strategies tailored to your unique situation.
Diversifying your investments can help mitigate potential losses and offer you amore balanced portfolio.
However, as ones wealth builds, spreading the risks and looking intodifferent investing optionsbecomes more important.
These missteps highlight the importance of aligningproactive tax planningwith investment decisions to optimize your wealth, Richards said.
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