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3 Biggest Money Mistakes(Finally Reveal)| Worse Than Stock Market Crash| Financial Mistakes
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Here are the 3 biggest money mistakes that I made. Hope you can learn from my mistakes and reach your financial goals much earlier! Enjoy!
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► Get $30 in free crypto and 5% interest on your Bitcoin with CakeDefi:
Many of you have been asking me why I only share my gains. Do I have any losses or mistakes during my whole investment journey? The answer is yes!
I want to be very transparent and share with you my most painful mistakes in my whole investment journey so that you will never ever repeat the mistakes that set me back.
In 2009 and I was still a 19 years old boy when someone approached me to share with me a “good investment opportunity”.
The project is to buy into pre-IPO shares of this company called Mezabay. And when the company is listed, I will have the opportunity to sell the stocks at a much higher price. On top of it, I am able to receive a 5% interest every single month till the company is listed. I invested $3,000 US dollar in this scheme. In the beginning, I did receive the 5% interest for the first 3 months. During the 4th and 5th month, the company told me that there will be some delay in payment and I start to feel fishy about them. During the 6th month, the company went missing and I lost everything.
By the way, there is a difference between losing money in investment and being scammed. When we invest in a business like GameStop and the business went south, we are losing money. However, if we invest in something, and the organiser took our money and went missing, this is a scam!
In 2011, I became smarter. I asked more questions, looked for track record companies and I want to be in control. Therefore, I put money with trillionfx which is a company that trades forex on my behalf. They have a track record of making 3% to 8% every month and I am able to view my account balance 24/7. On top of it, I am also able to withdraw my investment at any time without being tied. Sounds good? One condition is that we need to share 20% of our profit with the company. I think it's fair, as the company interests align with me. Because, the more money I make, the more money they will receive as well. In the first 6 months, the account grew by around 41% which is good. However, in the 7th month, the account value went to almost zero. I mean, this is definitely not a scam as I have the daily forex report. But I feel really angry and helpless at the same time to see my investment go to zero and I do not know what to do with it as I am not educated in Forex at all.
This particular situation taught me that I must be educated in investing to take charge of my own money.
In 2016, I invested in a real estate project in IOWA, USA. This project provides a 28% return for 2 years. Which means an annualised return of 14%. Due to my past bad experience with alternative investments, I am more careful this time around. And the only reason I choose to invest in this project is that my capital invested is guaranteed.
The director of the project took the money and went missing. And in this case, It was a scam.
After all these experiences, I must say that I can only blame myself for it. Because I am the one who made those decisions and nobody put a gun to my head to sign any contract.
After all, I learned about these 2 points:
1. Nobody cares about your money more than you do.
2. We must always invest time and money to be educated in financial education because we must be the ones taking charge of our own financial future
I really hope that you learnt from my painful lesson and don’t ever repeat my mistakes again. And that is the purpose of this video.
Think about it positively. Although these alternative investments have failed me again and again, I feel that I am blessed to encounter these at a much younger age instead of experiencing them during my old age.
Moreover, I am also blessed to learn about proper stock investing in my early 20s. Because after so many years, my stocks portfolio is the only one that provides me consistent profits and I am truly in control of it.
► Get a FREE Stock with Tiger Brokers:
► Get $30 in free crypto and 5% interest on your Bitcoin with CakeDefi:
Many of you have been asking me why I only share my gains. Do I have any losses or mistakes during my whole investment journey? The answer is yes!
I want to be very transparent and share with you my most painful mistakes in my whole investment journey so that you will never ever repeat the mistakes that set me back.
In 2009 and I was still a 19 years old boy when someone approached me to share with me a “good investment opportunity”.
The project is to buy into pre-IPO shares of this company called Mezabay. And when the company is listed, I will have the opportunity to sell the stocks at a much higher price. On top of it, I am able to receive a 5% interest every single month till the company is listed. I invested $3,000 US dollar in this scheme. In the beginning, I did receive the 5% interest for the first 3 months. During the 4th and 5th month, the company told me that there will be some delay in payment and I start to feel fishy about them. During the 6th month, the company went missing and I lost everything.
By the way, there is a difference between losing money in investment and being scammed. When we invest in a business like GameStop and the business went south, we are losing money. However, if we invest in something, and the organiser took our money and went missing, this is a scam!
In 2011, I became smarter. I asked more questions, looked for track record companies and I want to be in control. Therefore, I put money with trillionfx which is a company that trades forex on my behalf. They have a track record of making 3% to 8% every month and I am able to view my account balance 24/7. On top of it, I am also able to withdraw my investment at any time without being tied. Sounds good? One condition is that we need to share 20% of our profit with the company. I think it's fair, as the company interests align with me. Because, the more money I make, the more money they will receive as well. In the first 6 months, the account grew by around 41% which is good. However, in the 7th month, the account value went to almost zero. I mean, this is definitely not a scam as I have the daily forex report. But I feel really angry and helpless at the same time to see my investment go to zero and I do not know what to do with it as I am not educated in Forex at all.
This particular situation taught me that I must be educated in investing to take charge of my own money.
In 2016, I invested in a real estate project in IOWA, USA. This project provides a 28% return for 2 years. Which means an annualised return of 14%. Due to my past bad experience with alternative investments, I am more careful this time around. And the only reason I choose to invest in this project is that my capital invested is guaranteed.
The director of the project took the money and went missing. And in this case, It was a scam.
After all these experiences, I must say that I can only blame myself for it. Because I am the one who made those decisions and nobody put a gun to my head to sign any contract.
After all, I learned about these 2 points:
1. Nobody cares about your money more than you do.
2. We must always invest time and money to be educated in financial education because we must be the ones taking charge of our own financial future
I really hope that you learnt from my painful lesson and don’t ever repeat my mistakes again. And that is the purpose of this video.
Think about it positively. Although these alternative investments have failed me again and again, I feel that I am blessed to encounter these at a much younger age instead of experiencing them during my old age.
Moreover, I am also blessed to learn about proper stock investing in my early 20s. Because after so many years, my stocks portfolio is the only one that provides me consistent profits and I am truly in control of it.
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3 Biggest Money Mistakes(Finally Reveal)| Worse Than Stock Market Crash| Financial Mistakes
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