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“He who makes no mistakes makes nothing.”
Talk about a silver lining, especially when applied to finance. This 200-year-old quote, attributed to Casanova, gives hope to all those ruing a grave error or missed opportunity.
And it’s true: We learn what not to do going forward when we do something incorrectly. Money mistakes can be costly in the short term. On the bright side, it can help us improve our financial future if we apply those lessons wisely.
We asked nine members of the CNBC Digital Financial Advisors Council, along with Helen Modly of Buckingham Strategic Wealth, about the biggest mistake with money they’ve ever seen a client make.
Louis Barajas, founder and CEO of Wealth Management LAB, Tustin, California: “Over the years, I have had several clients come to me and tell me that they were offered investments with guaranteed returns of 20% or more. In 100% of all the five occasions, I warned them that what is too good to be true usually…
