If you’re like me, you’ve had a few war-wounds with money by now.
One of my own horror stories: for a couple years I faithfully plugged away at giving a mutual fund my precious dollars. I’d invested in a fund that seemed good and no-one told me the company who sold it to me wouldn’t call me up when it was tanking (what did I know? I was just a 20-something kid at the time!). And tank it did. So I took my meagre leftovers and trustingly handed every dollar of it to a stock broker. Then he, literally, moved to the Caymen Islands. By the time the complete carnage was over, I was left with $200 bucks. Really.
Thankfully, a girlfriend coaxed me into joining a women’s investment club. Together, we Twandians learned how the market worked, and honest-to-goodness, never made less than 20% in the five years I was in the club (this includes over the disastrous 2000!)
Now, of course, I know how to choose my own stocks, and also how to keep on top of mutual funds I purchase through an advisor (and I’ve known many fine advisors who haven’t moved to the Caymens).
Financial Turnarounds. If you’d like to inspire yourself by other people’s stories of financial $(#* and back, check out the 100 most inspirational financial turnaround stories.
They’re real, their fun, and there will be a least one that will speak to your own situation. Unless you’ve had a financially perfect life.