This last year alone I have lost nearly 50K on what I though was foolproof investments, OK they are not lost, even worse they are in limbo AKA tied up in courtcases. What outcome will come is uncertain, most likely I will receive back my initial investment and anything more than that I have to consider a bonus.
During this process of failiure after failure you get to know yourself pretty good, making investments are an emotional rollercoaster!
There are steps to avoid this rollercoaster the golden rule that you have been told over and over and over again... Do NOT invest more than you can comfortably afford to lose!
Simple as that.
I did not follow this awesome advice given to me on numerous occations...
I went ahead and did something stupid, yeah you probably guessed it...
I saw what I thought had to be a foolproof investment so I skipped my jolly way to the bank and got myself two high interest credit loans.
If you happen to have any common sense this is just outright a stupid thing to do!
I got blinded with the potential gains, did the math so I knew beforehand how much I would make and how much I had to pay on my loans, yes it was a great time living the good life!
Then one day out of the blue the shit hit the famous fan, I lost my income.
I was pretty devastated, right before christmas and all.
What options did I have left? I had to get back into the grind, not being able to pay off my loans was not a very attractive outcome going personally bankcrupt at the age of 26.
A few months later I had got my credit up again, guess what I did?
Yup stupid is what stupid does...
Yet another time I skipped my jolly way down to the bank, refinanced the old loan and got myself a new loan thinking this time I was going to make back what I lost in the previous failiure.
This mindset is a dangerous one. In the investment world you gotta learn how to handle and accept losses as well as gains it is all a part of being an investor.
This is the time where I ask a retorical questions: Guess what happened to the money I borrowed in the bank and put into a surefire investment?
Yeah you guessed it, it went to shit!
Now I had several loans, no job and no income.
There is this youtube video that explains what my reaction was just add alot of pacing back and forth.
If I were to break it down what I should have done differently it would be something like this:
1: Only invest surplus funds each month after bills and living expenses are covered. NO LOANS.
2: Make sure you do enough DUE DILLIGENCE on what you are about to invest in!
3: Get your principal investment amount out ASAP and THEN let it ride.
4: Not going almost all in on one investment.
5: When in profit DIVERSIFY into LOW RISK investments.
6: Do NOT invest more than you can comfortable afford to lose!
7: Do NOT invest more than you can comfortable afford to lose!
8: Do NOT invest more than you can comfortable afford to lose!
9: Do NOT invest more than you can comfortable afford to lose!
10: See rule #1!
I might have a misleading domain name, because I don`t have any degree in online business it was availible and I took it. If you go away from this page after reading the 10 rules and following them you will probably save yourself alot of money and emotional downs. So my hard earned lessions is to your benefit, maybe I can manage to explain my failiures so you might think twice the next time you are about to invest in something on a whim.
Remember that there are no rush to get in and get in hard in almost any investments, if it is a viable investment opportunity and you have done your homework with enough due dilligence you shouldn`t have any hurry to jump in. Always look at the long term of whatever you are thinking about putting your hard earned money into.
If someone were to approach me now and get me a stressed about an investment they want to share with me, but I have to act right away I would tell them to piss of somewhat respectfully...
I have tried it all, MLM, HYIPs, direct marketing, affiliate marketing, forex, real estate yeah pretty much everything under the sun.
Something have turned out good, but the majority of what I have invested in I have neglected to follow the 10 super simple rules above and have resulted in evaporated money.
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I will be sharing more in my next post about what I am doing today, probably many of you have not looked into this form of investing. Hint, you can decide exactly how much you are willing to risk in order to make upto 75% ROI in 15 minutes!
I am learning more and more about this, and I find it really facinating so if you would like to find out more stay tuned for my next post!
Thanks for reading and I hope to see you again, ending this post with a saying.
If you don`t like where you are,
You are not a tree.