Things To Do Before Making Any Investment If You Don't Want To Lose Everything Financial Advisory Journal Made for prospects trying to find personal finance pointers. You can find many qualified high-level business experts. Please reach out to us for more info... Nick Banks Ameriprise Financial Services, Inc. 825 Juniper St Atlanta, GA 30308 (706) 645-7890 ============================================================
This post is a reminder to myself and to all of you that we can and will lose money if we invest in risk assets for a long enough period of time. The only way to never lose money again is if we never make any investments. Ive personally reached a level of investing discomfort that feels a little bit scary. After deploying a couple bucks in 2017, I invested a large chunk of change in the stock market during the first week of 2018. After all, I wrote in my 2018 outlook that 2018 would be the last year of good times. Not following through with my beliefs would be a waste of time. The problem right now is that it feels like Im suffering from investing FOMO and so are many of you. When you experience FOMO, you tend to do some incredibly irrational things. I hate the way money can make us greedy. Hopefully, this post will help those of you who feel the same take a pause and think about risk more. How To Lose All Your Money Easily Now that Im back in retirement mode, Ive done more consuming and less producing. And one of the things Ive been observing with great fascination is all the get rich quick schemes that have popped up thanks to the rise of cryptocurrencies. There is this one guy who boasted making minimum wage a year ago and is now a cryptocurrency millionaire. He shows his electronic wallet on social media for all to see in order to create FOMO in his followers. He succeeds. He began aggressively promoting Bitconnect in 2H2017, a bitcoin based lending platform where they take your cash or Bitcoin and give you a GUARANTEED interest of between 0.25% 1% a DAY with Bitconnect currency. They said they have a proprietary bitcoin trading bot that produces such