Millionaires make some of the same investment mistakes as everyone else—it's just that their mistakes can cost more.
A new survey of millionaire investors around the world found five mistakes that are most common among millionaires.
The most widespread: failure to diversify. While a concentrated position in a single asset or industry can certainly help make someone rich, it's a recipe for disaster when trying to invest or preserve wealth.
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The study by deVere Group, a global independent financial consultancy, surveyed 880 investors around the world with investible assets of $1.5 million or more. Of that, more than 100 were in the U.S.