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I started investing in September of 2008. I was excited and filled with enthusiasm and trepidation.
I had saved up a few thousand dollars from work and a few more from graduation money.
I had just spent a summer reading and learning and I was ready to try it out myself.
I opened my account, funded it, and bought my first stock $ATVI in the low $30 range. I knew the gaming industry, trusted the leadership, and it was a company I was familiar with.
I bought a few other stocks and was gaining confidence that I wouldn’t lose all my money by owning stocks. I felt ok watching my net worth fluctuate.
A week later the market crashed.
I saw my net worth cut in half.
I worked so hard for all that money at $7/hour. And now it’s gone.
I panicked because I didn’t have any support. No one said just hold on, you’ll be ok, don’t sell.
I sold and worse, I had an aversion to the market for a full decade. Instead of being invested in the 2010s in my 20s, I made foolish financial decisions because my core belief was that money doesn’t hold value, only material goods do.
I hope you don’t make this mistake and hold yourself back from making money in the market. Investing now is investing in your future.
You don’t need the money right now?
Put it in something of value because one day you might want to build something like a family, a business, a purpose. And you’ll need that capital.
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