Feel like such a fool!

iVillage Member
Registered: 06-18-2004
Feel like such a fool!
1
Thu, 01-13-2005 - 8:21pm

I just found out tonight that a company DH and I invested with settled a class action lawsuit with the government. In the press release for the settlement the government listed the "script" this company used to get people to invest. I fell for each and every part of their pitch, only to find out tonight that it was preplanned, pre scripted and they even came up with the counter arguments if you disagreed with something they said.

DH and I no longer invest with them. We cashed out our mutual fund and our IRAs last year to help us get out of debt. The script was so well planned that when we mentioned something to the person we were talking to about cashing out, he came up with a counter argument. Only after having watched Suze Orman for about 6 months at that time, I knew not to fall for it.

Well, anyway tonight, I went over how much we invested with them (in just the mutual fund) I realized that over almost 10 years of investing, we only walked away with about $4200. That is about $420 a year. I feel, had I been more savvy, instead of a naive investor, I could have made more for the money I put in.

I also realize that I was paying more in interest on cc's than I made off of the silly investment. Don't get me wrong, when you have the money, investing in mutual funds is a safer way to go, than say stocks, but when half of your investment is taken the first year, you really don't invest that much.

Thanks for listening.

I just needed to vent.

Kellie

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Fri, 01-14-2005 - 9:21am
Just wanted to give you a HUG!

Becky -