The last time I changed the oil on my car, I inadvertently drained the power steering fluid thinking it was engine oil. Then I added engine oil and thought I was all set. I proceeded to drive a car around town with no steering fluid and twice as much engine oil as I should have. It didn’t take long before I realized I really screwed up my car. It was an expensive mistake but I learned that maintaining my car should be done by the experts.
This same concept applies to investing as well. These two articles capture some of the biggest issues we come across when we talk with prospective clients:
Financial Illiteracy May Have Cost Investors 200 Billion Over 20 Years