Your mother was a wise woman, for sure. Investing in anything is a gamble. If it weren't, we'd all have larger nest eggs than we do now. I have been torched by the recent downsurge in the economy just like millions of others have been. I blame a lot of my losses on the fact that I wanted to make even more than I had up until then. Call it greed, call it being selfish, call it whatever you want.....bottom line is I coulda, shoulda, woulda diversified better and been more conservative. So what your mother told you is still true to this very day. Don't invest unless you're financially in a position where you can lose it all and still be able to maintain a decent life style.
What's really sad about some of the folks who lost their fortune was that they didn't invest with Madoff directly. One couple told their story about having all of their money in mutual funds, bonds, and stocks through a fiancial advisor. Turns out that company invested their funds through Madoff without their knowledge. Guess what? Seems that they still have little or no legal grounds to have their money returned to them......and that is really upsetting to me.
Pages
Your mother was a wise woman, for sure. Investing in anything is a gamble. If it weren't, we'd all have larger nest eggs than we do now. I have been torched by the recent downsurge in the economy just like millions of others have been. I blame a lot of my losses on the fact that I wanted to make even more than I had up until then. Call it greed, call it being selfish, call it whatever you want.....bottom line is I coulda, shoulda, woulda diversified better and been more conservative. So what your mother told you is still true to this very day. Don't invest unless you're financially in a position where you can lose it all and still be able to maintain a decent life style.
What's really sad about some of the folks who lost their fortune was that they didn't invest with Madoff directly. One couple told their story about having all of their money in mutual funds, bonds, and stocks through a fiancial advisor. Turns out that company invested their funds through Madoff without their knowledge. Guess what? Seems that they still have little or no legal grounds to have their money returned to them......and that is really upsetting to me.
Quick example of how stupid I was last year:
Pages