Three simple investing mistakes that limit high earners’ wealth

Lucy DeanWealth reporter
Jul 8, 2026 – 5.00am

When financial adviser James Smith meets a new client, one of his first tasks – particularly if they’re younger – is to get them to the “aha moment”.

That is when they realise just how powerful compounding is, particularly if they start investing sooner rather than later. The rest – the importance of a budget (to set aside money to invest) and the need to understand markets (or at least how to begin to invest) – clicks into place from there.

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• Wealth Generation
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Lucy DeanWealth reporterLucy Dean was a wealth reporter at The Australian Financial Review. Connect with Lucy on Twitter.

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