Mistakes the Ultra Wealthy Don't Make
The ultra-wealthy, known as ultra-high-net-worth individuals (UHNWIs), make up a group of people who have net worths of at least $30 million. The net worth of these individuals consists of shares in private and public companies, real estate, and personal investments, such as art, airplanes, and cars.
When people with lower net worths look at these UHNWIs, many of them believe that the key to becoming ultra wealthy lies in some secret investment strategy. However, this isn't usually the case. Instead, UHNWIs understand the basics of having their money work for them and know how to take calculated risks.
1. Only Investing in the U.S. and the EU
2. Investing Only in Intangible Assets
3. Allocating 100% of Investments to the Public Markets
4. Keeping up With the Joneses
5. Failing to Rebalance a Personal Portfolio
6. Omitting a Savings Strategy From a Financial Plan
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