How many of you made the mistake of throwing all of your money into the stock market in 2021?
I made about 70k in my 20s by frugally saving every paycheck I got. Never learned much about stocks until Covid when Robinhood and meme stocks took over mainstream media. Immediately became terrified I was missing out and threw all my money into VTI in December of 2021 instead of a dollar cost average approach. Also threw $7k into tech meme stocks like PLTR and ARKK. Made $20k in crypto and threw it into one of the crypto banks that went under last year. FOMO is one helluva drug is all I can say.
I know I am fine and I learned valuable lessons I just wonder how many others made similar mistakes especially during all the hype. I feel like bull runs generates millions of new retail “investors” who then have to learn the lesson the hard way.
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MoneyComesMoneyStays : Emotional trading rarely works out.
mr_cashcow : Deja vu, I think I read something similar on reddit