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Domande di Internet

Bankers, Accountants, Financial Professionals, and Insurance Agents of Internet, What’s the worst financial decision you’ve seen a client make?

Liquidate a 401k (in their 50s) to buy a new pickup truck.

Staying with a bank because that’s the bank they started with, even though they are being charged super high rates.

Insurance rep here. Don’t buy cars that cost more to insure than they do to finance. I can’t tell you how many stupid kids I see paying $400 – $500/month for state minimum liability on a BMW or a WRX. And of course these kids also have terrible driving records, so that brings their premium up even more.

Worked in a family law firm. Way to common of an occurrence is a client ignoring the lawyers advice for a balanced separation agreement and instead ambushing their spouse with an agreement that says they are getting everything. Now instead of a relatively amicable breakup and maybe some mediation to sort out some sticking points it’s tens of thousands if not hundreds of thousands of dollars in litigation costs.

If you are going through a divorce play nice. The only ones that win in a bad divorce are the lawyers.

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