11-13-2022, 12:10 PM
Lost a lot of money. What to do next?
<!-- SC_OFF --><div class="md"><p>I've run my own business since 2016 and it does pretty well. It pays the bills and there's spare change left over. I wanted to spread my wings and try create other revenue streams and make some investments.</p> <p>I put some money into crypto around 2 years ago. Did my due diligence in terms of which coins and tokens to invest in and was prepared to lose whatever I put in. Well, here we are with a major exchange filing for bankruptcy. I don't blame crypto but rather these kids trying to run companies that they do not know how to manage properly and more importantly surround themselves with smarter people in the room.</p> <p>Then, the pandemic hit and everyone was making making money online. So in 2020 I bought a fancy Amazon course that is genuinely very good in my opinion. I launched my first Amazon product this year and was proud to have done so without any prior knowledge. Fast forward and I've spent ten's of thousands of dollars on manufacturing the product, shipping, photos and PPC (pay per clicks) only to have a product that isn't selling well. Bottom line, I chose the wrong product.</p> <p>So here I am having put tons of money into these 2 ventures without any ROI. I'm extremely frustrated because I've worked on average 60-80hrs a week for a very long time running my businesses. </p> <p>I plan to abandon the Amazon product that I'm selling once it's sold out. I can't do anything about the crypto other than to wait it out or invest more into it since prices are so low.</p> <p>Thankfully the business that pays the day to day bills is doing well. That said, I've never invested into the stock market but I'm thinking now is an excellent time to invest in an ETF or index fund and also perhaps the big boys like Amazon, Microsoft, Meta, Twitter, Tesla etc?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Fit-Act8910"> /u/Fit-Act8910 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/yt9r6g/lost_a_lot_of_money_what_to_do_next/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/yt9r6g/lost_a_lot_of_money_what_to_do_next/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>I've run my own business since 2016 and it does pretty well. It pays the bills and there's spare change left over. I wanted to spread my wings and try create other revenue streams and make some investments.</p> <p>I put some money into crypto around 2 years ago. Did my due diligence in terms of which coins and tokens to invest in and was prepared to lose whatever I put in. Well, here we are with a major exchange filing for bankruptcy. I don't blame crypto but rather these kids trying to run companies that they do not know how to manage properly and more importantly surround themselves with smarter people in the room.</p> <p>Then, the pandemic hit and everyone was making making money online. So in 2020 I bought a fancy Amazon course that is genuinely very good in my opinion. I launched my first Amazon product this year and was proud to have done so without any prior knowledge. Fast forward and I've spent ten's of thousands of dollars on manufacturing the product, shipping, photos and PPC (pay per clicks) only to have a product that isn't selling well. Bottom line, I chose the wrong product.</p> <p>So here I am having put tons of money into these 2 ventures without any ROI. I'm extremely frustrated because I've worked on average 60-80hrs a week for a very long time running my businesses. </p> <p>I plan to abandon the Amazon product that I'm selling once it's sold out. I can't do anything about the crypto other than to wait it out or invest more into it since prices are so low.</p> <p>Thankfully the business that pays the day to day bills is doing well. That said, I've never invested into the stock market but I'm thinking now is an excellent time to invest in an ETF or index fund and also perhaps the big boys like Amazon, Microsoft, Meta, Twitter, Tesla etc?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Fit-Act8910"> /u/Fit-Act8910 </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/yt9r6g/lost_a_lot_of_money_what_to_do_next/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/yt9r6g/lost_a_lot_of_money_what_to_do_next/">[comments]</a></span>