The time I lost £50,000
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Your 2-minute guide to demystifying money and making you richer
What it’s like to lose a lot of money
In the last edition of Moneyin2 I discussed the first time in my life when I started to make serious money through saving and investing, and what a light-bulb moment that was for me.
The key lesson, if you missed it: having your money work for you is better than working for money.
Thus far at Moneyin2 we’ve been pretty upbeat about how investing works. Save regularly! Max out your ISA! Buy ETFs! The market gains 6-10% per year, on average! You’ll be fine!
But stocks can go down, too (duh). And I don’t want to gloss over that.
So in this email I’m going to talk about one of the worst moments in my entire life: the time I lost about £50,000.
Let’s wind the clock back to 3 August, 2007...
Most people didn’t think anything was wrong
Stocks were up: The S&P 500 index hit a high of around 1,500.
Everyone was happy.
But if you worked inside one of the g…
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