• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

Don’t Risk More Than You Can Afford to Lose

Written by:
Aeon Flux
Published on:
29 November 2020
Thoughts:
No comments yet

Good investing advice

Floyd MoriPhoto by Patrick Weissenberger on Unsplash

Investing may be good or bad

It is well known that many people have made a lot of money and even become millionaires through investing in stocks. While it is a good way to earn money in some cases, it also carries with it a fair amount of risk. Most stock investing sites or gurus will say that you may lose money. In fact, it is something they need to warn about because it is the law.

One of the pieces of advice to which everyone interested in investing should follow is to not risk more than you can afford to lose. People can invest freely if they have plenty of extra money. It is not wise to invest money that you might need for housing, food, and bills. The essential needs of living should be taken care of first before someone uses money for speculation. Everyone should have an emergency fund of savings before risking money on investing.

With the coronavirus pandemic having been a problem for almost a year, it has become very evident that financial difficulties can strike anyone and can come without much warning. Those who have enough money and savings have not been adversely affected by the pandemic. Others who live paycheck to paycheck and did not have savings have suffered greatly. Some have found that they need to go to food banks for food and possibly ask family members for assitance. There may be some who became homeless because of the COVID problems.

If money is readily available and plentiful, investing is not a bad thing. There are many financial people who have knowingly or unwittingly gotten clients (often family and friends) to invest in projects or programs which turned out to be total losses. Some of those who cheated others through their own fault are now serving time in prison or have done so.

People who spend their hard earned money on investing need to be aware of what is happening with their money. Too many people have lost a lot because they trusted someone else who did not deserve the trust.

A young trader with Robinhood died by suicide in early 2020. Robinhood is a company with commission-free stock trading available. Users can trade options contracts through the service. This trader apparently saw a huge negative cash balance in his account. He did not fully understand trading and margins. He was a twenty year old student at the University of Nebraska. After being overwhelmed by the prospect of that massive deficit in his account, he took his own life after leaving a note asking why this could have happened to his account.

The people at Robinhood said that they were saddened about the news of this young man’s suicide. They said they are improving their platform and determining if changes need to be made.

Finances are a big part of life. Investing in stocks or other programs may be beneficial. It is necessary to do your homework and make sure that you do not risk money you cannot afford to lose.

[Source: CNN Business]

Categories: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (1,603)
  • Ethereum (1,011)
  • News (2,873)

Recent Posts

  • $ 2.5 million in Bitcoin: Instagram Influencer scams followers 29 March 2021
  • Why I Am Purchasing A Tesla with Bitcoin 28 March 2021
  • Chainlink Whales trade on fragile backing; LINK seems primed for high volatility 28 March 2021
  • European Commission welcomes EU4 Health program aiming to boost innovation in health systems 28 March 2021
  • Planning to invest? 28 March 2021

Archives

  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web