singe (one's) wings

To suffer harm, defeat, or ruin in the pursuit of something risky. An allusion to the mythical figure Icarus, whose father Daedalus constructed a set of wings out of feathers and wax that melted when he flew too close to the sun. He used to be one of the most successful financial advisers on Wall Street, but he singed his wings going after high-risk, high-profit investments that ultimately bankrupted him.

singe your wings

suffer harm, especially in a risky attempt.