Wealth Managers and handling losses.
By Muhammad Ali
Imagine you invested the majority of your RV exchanged money or funds with a wealth manager and the guy lost 90% of your money.
Do you think this situation can never happen? How about telling that to this man and his wife.
He invested $250,000 with a Wealth Manger only to be left with $11,200.
So yes, it definitely can happen and it can happen to you.
What would you do?
Probably, the same thing that this guy is doing in the article, protesting against the bank.
However, what is done is done.
Be careful and be cautious with any and all kinds of investments. Risk only a small percentage of your capital. Let's say you have $1,000,000 then advise your wealth manager to trade only 10%, $100,000 of that money. That's it, that's all. If they can make your money grow then great. If they lose it all well then you still have your $900,000 in the bank.
In the Investment tab of my Currency Exchange Planner, you can do simulations of various types of investments and profit returns. However, I also recommend that you only invest 10% to 20% of your remaining net worth.
You control your money. Don't let the banker sweet talk you to invest more.
One avenue to invest your money is in Government Bonds or Treasury Bills. These do not necessarily have to be done in your country. You can invest in let’s Iraqi Treasury Bills. The percentage of return may be smaller but the return and your capital is guaranteed. You will not lose any of your capital.
So do your own research on what to invest. Think smart and protect your money at all costs.
You will not get a second chance to buy more Dinars or Rials after the RV, so when you have lost all your money, the panic will start to kick in.
Take note to this post and pay serious attention to what I have said.
I hope my article has been of some interest to you.
I am the creator of the Currency Exchange Planner, an excel spread sheet, which is the most advanced and affordable planning tool for the Dinar Community.
The No. 1 Planning Tool for the Dinar community.
Available in Desktop PC/MAC and Mobile App (Android & IOS) versions