Before I turned 28, I made several bad investment decisions that cost me financially and emotionally. These mistakes were difficult to endure, but the lessons I learned from them were invaluable.
1. The property syndication disaster
One of my most painful financial mistakes happened when I was just 20 years old. After my father died, my family decided to sell the farm and the businesses he built. We were left with a sizable sum to invest, and we trusted a broker who convinced us to put nearly all our family's wealth into two property syndications: Sharemax and Picvest. The sales pitch was enticing -- guaranteed capital and the promise of doubling our money in five years. Unfortunately, both syndications collapsed, wiping out almost all our funds. My mother, who should have been financially secure, became financially dependent on my brother and me. My grandmothers, who had invested their life savings in these schemes, faced a similar fate.
Lesson 1: Diversification is crucial
この記事は The Citizen の October 18, 2024 版に掲載されています。
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この記事は The Citizen の October 18, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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