Life is full of regrets. One of the most common phrases I hear is \u201cif only,\u201d followed by what they wish they did or didn\u2019t do. Most of the time it\u2019s not investing early enough or making a bad investment decision. <\/p>\n
Successful people are no different. They too have made mistakes or bad decisions when it comes to their finances. <\/p>\n
Here are the top regrets for five top executives and multimillionaires. Visit artofsmartmoney.com to get more tips on making better financial decisions and getting back on track (even if you started late). <\/p>\n
Debbi Fields, founder of Mrs. Fields<\/strong> \u201cLooking back now, I know that I would have greatly benefited had I initiated an investment strategy as a young adult. I was so busy trying to save every dollar and living paycheck- to-paycheck that the idea of wealth creation was never really a consideration. <\/p>\n \u201cNot thinking bigger than my bank account was my error \u2014 I could have set up a simulated investment account, joined a club or learned about the buying and selling of securities. <\/p>\n \u201cThe key to managing money and building a nest egg is learning how to manage small amounts and grow them wisely over time. It can start with pocket change and grow beyond anything you imagined! The key word here is \u2018imagined\u2019 \u2026 You have to add a zero or two to your net worth and direct your attitude and financial strategy toward getting there.\u201d <\/p>\n Jon Stein, founder and CEO of Betterment<\/strong> \u201cI wasted so much time and money by overthinking investing. Whether it was opening a dozen brokerage accounts, getting too concentrated in individual securities (thanks, Enron) and attempting to do overly complicated transactions \u2014 it was a waste. <\/p>\n \u201cI should have just taken the index route in my younger years. I\u2019d be in a better place for retirement now, and I would have been able to spend more time with friends and family. <\/p>\n \u201cThe money is one thing, but I\u2019ll especially never get back the hundreds of hours I poured into trying to beat the market.\u201d <\/p>\n Alexa von Tobel, founder of LearnVest.com, author of Financially Fearless<\/strong> \u201cI was lucky enough to learn this lesson while still in my 20s, so I had time to put a financial plan into place for myself.\u201d <\/p>\n (Go online to artofthinkingsmart.com\/plan to learn how to create one easily!) <\/p>\n Mark Cuban, billionaire entrepreneur and owner of Dallas Mavericks<\/strong> \u201cCredit cards are the worst investment that you can make. The money I save on interest by not having debt is better than any return I could possibly get by investing that money in the stock market. I thought I would be a stock market genius. Until I wasn\u2019t. <\/p>\n \u201cI should have paid off my cards every 30 days.\u201d <\/p>\n Ken Lin, CEO and founder of Credit Karma<\/strong> \u201cIn 2008, I bought shares of WaMu (Washington Mutual) two days before they collapsed. At that time, I thought that it was panicked selling and that a bank like WaMu wouldn\u2019t or couldn\u2019t go under. <\/p>\n \u201cClearly, I was wrong. It did teach me a valuable lesson about how fast things can change in business.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Life is full of regrets. One of the most common phrases I hear is \u201cif only,\u201d followed by what they..<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[104],"tags":[],"class_list":["post-53148","post","type-post","status-publish","format-standard","hentry","category-thinking-smart"],"yoast_head":"\n
\nLearn to manage the money you have now, no matter how little. <\/p>\n
\nDon\u2019t overthink investing. <\/p>\n
\nYou need a plan for your money.
\n\u201cNot having a financial plan is a plan \u2014 just a really bad one! Given what I see as a general lack of personal-finance education, it can be all too easy to wing it with your money. <\/p>\n
\nLearn to manage your credit cards. <\/p>\n
\nBuying an investment that was a \u201csure thing.\u201d <\/p>\n