Do you remember your first investment loss? What did it feel like? It was a long time ago and I know so much now but I don’t think I will ever forget the first time I lost money.
I wanted to invest some money I had saved up but knew nothing about investments. A friend of mine hooked me up with her sister who was an insurance agent. She sold me a life insurance policy with a cash value that was a good “investment”. The cash value was guaranteed by the insurance company. It sounded good to me and I signed up. I was a young single woman at the time with no kids. Years later when my rent went up unexpectedly, I went to draw on this cash value and couldn’t. I studied up on what I invested in and was furious that I was sold a policy that wasn’t suitable for me and wasn’t really an investment. Lesson learned.
More at: http://www.wholeheartedway.com/investment-planning/lose-money-to-make-profit
I wanted to invest some money I had saved up but knew nothing about investments. A friend of mine hooked me up with her sister who was an insurance agent. She sold me a life insurance policy with a cash value that was a good “investment”. The cash value was guaranteed by the insurance company. It sounded good to me and I signed up. I was a young single woman at the time with no kids. Years later when my rent went up unexpectedly, I went to draw on this cash value and couldn’t. I studied up on what I invested in and was furious that I was sold a policy that wasn’t suitable for me and wasn’t really an investment. Lesson learned.
More at: http://www.wholeheartedway.com/investment-planning/lose-money-to-make-profit
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