I almost lost my life after losing 97% of my savings.
Here’s a list of how I crushed my body and soul in 2008:
You see. I’ve saved a respectable amount (for my age then) since young.
So, to burn all in eight weeks was a big regret to me.
At that time, I felt lost and confused.
“How am I going to recouped the entire sum?”
Before you judge me, I’ll share how it lead to those reckless acts.
It was in the news everywhere. One headline went like below:
“The Golden Era of Wall Street. More to Come!”
My innocence fell for one of the scammy pitches. Then I began to buy the premium shares.
Weeks passed. The stocks didn’t budge much. Little action.
But, the market behavior started to change. It was due to ‘foul play’ by the banks that led to financial crisis.
Many shares started to slide.
No. Let me rephrase.
Many dived into a timeless hole. No point of return.
There were investors like me who were stubborn to sell their underperforming stocks.
I reasoned that my researches were thorough. And my portfolio had strong fundamentals to withstand market corrections.
Boy, I was wrong. And the market taught me a good lesson that I’d never forget.
The stock prices kept drifting lower. It's like no one installed emergency brakes.
Nights passed. But I couldn’t sleep. My mind was bombarding for ways to get my cash out.
It was the darkest period of my life.
It wasn't until several weeks later that I recoup my remaining capital.
A measly 3% of the original. But it's better than nothing.
Here are five lessons that you can learn from my journey in 2008:
I’ve come to the end of my post. So share with me in the comments below; which one of the lessons above can you relate?