The Biggest Financial Regrets

[doomloop]

For me, the biggest financial regret I have is involving myself in a Ponzi scheme that promised to pay back a week to get double the amount of what I invested. This happened when I was in school struggling but with the little money I have, I entered, till today both the principal and interest are nowhere to be found.

These used to be the kind of scams that we had back in the day, Bitcoin doublers, HYIPs, and Ponzi schemes, and I have seen a lot of people becoming victims of these scams. Even in this forum, there used to be websites announced in the Investor-based Games sub-section, there can still be such websites but I don't visit that section anymore.

The only thing one needs to understand to be safe from these things is that crypto isn't a get-rich-quick scheme, and there is no way you can become rich overnight by spending a little amount, so when someone says that is possible, run away from them.

[AnonBitCoiner]

I think the most appropriate sentence to say about this situation is: People will regret when they have done something and people will also regret when they haven't done something. Since in this life there's a lot thing we can do and it's almost impossible if we can do anything in this world, everyone will have a feel about regret and it's really normal.

Since we're in Bitcoin forum, I believe everyone will regret for not bought Bitcoin when it's beginning especially when they've heard about Bitcoin.

yes you are right because no one is happy with their own life and everyone think that the other person is better than me so in this situation all the activities which a person perform or not but they regret that thing in future. I think person should not think about the past because it has now gone and always make plans for the present of future so there will be no one who will regret the things which he missed due to some issues.

If everyone becomes happy of their life so the world will be a happy life and no one will regret about anything. This is the best feeling that if you don't have something or you don't have any progression in the past so this will be better for you because everything happens for our better life.

[irsykes]

Please share what you believe to be the biggest risks in finance.

In my opinion, the biggest risks in finance include:

1. Not having a solid financial plan: Without a clear plan for your finances, it's easy to fall into debt, overspend, and miss out on opportunities for growth and investment. Creating a budget, setting financial goals, and seeking professional advice can help mitigate this risk.

2. Over-reliance on a single income stream: Relying on one job or income stream can be risky, as it puts you in a vulnerable position in case of job loss, economic downturns, or other unforeseen circumstances. Diversifying income streams through investments or side hustles can help reduce this risk.

3. Failing to manage debt: High levels of debt can be a major risk factor that can negatively impact financial stability and future opportunities. Managing debt through budgeting, prioritizing payments, and seeking professional help can help reduce this risk.

100% of people mostly have problems in terms of money, whether it's the economy or other things that are necessary for life. Knowing the world of crypto makes me prefer to set aside money for investment from all the problems that have been passed. aware that investment is important for the unexpected future. use money for rounds that produce in the crytpo world lots of ivents or airdrops with capital even though they rarely win at least try to increase income

[Fortify]

The biggest and most common financial regrets people will have.

1.  "I should have started investing and making financial plans, earlier."
2.  "I wish I had taken more risks and tried more things, when I was younger."

There are some who say its bad to have a tattoo. "The tattoo will look bad, when you're old." There are also many who wish they had tried more things when they were young. Before their window of opportunity closed. Before they had kids who rely on them, where they have less time. Before they were in a position where it became much more difficult to start a business or try different methods to tap other revenue streams.

For those who profit with stocks, crypto and other assets as other means of income. The most common regret is not having started earlier. Time spent idle could translate to opportunities missed.

There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.

Please share what you believe to be the biggest risks in finance.

I definitely agree with your first point and in many ways it ties in closely with your second point. After learning much more about financial instruments, namely investing, later than I should have - it's a real eye opener how much money there is to be made out there if you use your own money wisely. It was Einstein that once said that "Compounding interest is the 8th wonder of the world" and after doing it for a while you will definitely begin to see how powerful it can be. The younger you are the more mistakes you can make (financially) and recover from more easily, if you lose all your accumulated money when you are 60 it's probably going to be a real rough ride and recovery might be impossible.

[cydrix]

The lack of children while they were younger was one of the main regrets that wealthy senior people shared with me.  I believe I already comprehend what they're trying to say. Because you want to leave them with what you have. For example, if you own large properties, a lot of gold, or Bitcoin, you'll want to leave them to your children once you pass away. However, having none or just one of these items is not very useful.

[stomachgrowls]

The biggest and most common financial regrets people will have.

1.  "I should have started investing and making financial plans, earlier."
2.  "I wish I had taken more risks and tried more things, when I was younger."

There are some who say its bad to have a tattoo. "The tattoo will look bad, when you're old." There are also many who wish they had tried more things when they were young. Before their window of opportunity closed. Before they had kids who rely on them, where they have less time. Before they were in a position where it became much more difficult to start a business or try different methods to tap other revenue streams.

For those who profit with stocks, crypto and other assets as other means of income. The most common regret is not having started earlier. Time spent idle could translate to opportunities missed.

There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.

Please share what you believe to be the biggest risks in finance.

I definitely agree with your first point and in many ways it ties in closely with your second point. After learning much more about financial instruments, namely investing, later than I should have - it's a real eye opener how much money there is to be made out there if you use your own money wisely. It was Einstein that once said that "Compounding interest is the 8th wonder of the world" and after doing it for a while you will definitely begin to see how powerful it can be. The younger you are the more mistakes you can make (financially) and recover from more easily, if you lose all your accumulated money when you are 60 it's probably going to be a real rough ride and recovery might be impossible.

The earlier the better right?

We know that when we are still on our youth days then minding about your own future or having that plans on whats ahead is really unlikely for someone to mind off or think off and this is we do really see that most of people who are on this age bracket wouldnt really be minding about this stuff and this is why they would really be missing out these opportunities but of course time will come on where we would really be inevitably facing up the real deal on the time that we do gets older. This is where you would really be having those deep thoughts that you should have started earlier but its true that when you are still on the bracket of
20-30 then it would be still considerable since you do still have that time gap on which you could still be able to recover up those losses if ever you've been hit up big, unlike when you
are already that  50 of age then there's no time for you unless if its done for a couple of years in speaking about recovery. We do have our own regrets in life which is something
that really differs into each person.

[Mate2237]

Cryptocurrency is just a new invention so if anyone is saying that he or she regret of not starting early is wrong. Crypto is just decade old so why some would saying that he regreted foe not join on time. Then that person is more than 90 years. If the person is still on his or her 60s, it is not too late to join the blockchain and start investing. According to some educationist "we should not blame anyone of our down fall, because our destinies in our hands, the way we want it to be is the way it will come out". So why the regret. Sit up and start something. It is not too late. The journey is still far to regret at this early age.

[Dr.Bitcoin_Strange]

Cryptocurrency is just a new invention so if anyone is saying that he or she regret of not starting early is wrong. Crypto is just decade old so why some would saying that he regreted foe not join on time. Then that person is more than 90 years. If the person is still on his or her 60s, it is not too late to join the blockchain and start investing. According to some educationist "we should not blame anyone of our down fall, because our destinies in our hands, the way we want it to be is the way it will come out". So why the regret. Sit up and start something. It is not too late. The journey is still far to regret at this early age.

I totally agree with you, mate; there is really nothing to regret because there is still time to invest into bitcoin and make more profit in the future. The regret some will only have is if they keep being skeptical for the next 10 years, and maybe if the price of Bitcoin doubles way more than it is now. Although I used to regret not having invested in Bitcoin since 2017, I really regretted it because if I had invested what I had then, I knew the amount of profit my investment would have yielded by now. But again, I realized that if I could invest now and just keep accumulating Bitcoin, I would still make a profit in the future because there is still time for the Bitcoin price to keep going green.

[savetheFORUM]

Regrets of course are things we usually experience because now we think that the decision we made was wrong, many people regret knowing that the current bitcoin price is around $28k, if they can hold thousands of btc when the price is still $1 or less of course they will be people rich.

Some people actually did hold some of their Bitcoins from back when the price was very low, not because they speculated the price to be this high but because it was too common and everyone could have it almost for free since mining with a simple Pentium 4 desktop computer would give you hundreds of Bitcoins every day.

Those were golden days but only for those who believed in the technology and bought and held Bitcoins when the price was low. Even those who bought when it was below $1k would now be millionaires if they held onto their assets.

[ivankoh]

The biggest and most common financial regrets people will have.

1.  "I should have started investing and making financial plans, earlier."
2.  "I wish I had taken more risks and tried more things, when I was younger."

Certainly, in everyone's life there are always mistakes, financial or family regrets, landmark decisions in life, there are decisions that you regret for the rest of your life. I really experienced 2 regrets like OP's statement… I actively made money and took care of my life and family but forgot about this saving and never waited for the benefits of inflation will erase it. Fortunately, I still have time to make a change by realizing the potential value of bitcoin as a promising form of profit.

[Semar Mesem]

I have a lot of regrets right now, related to crypto of course because I sold a lot of bitcoin, eth, bnb, doge, and so on, in 2015 I had more than 2 million doge which at that time I bought from Poloniex, if I sell now Of course I'm already rich and can buy many things I want.

[odunybiz]

Honestly, those people who think that if they are married with kids and can't try new things do not realize how many hours in a day we have. I have seen so many people who just hours and hours on useless stuff that if you are planned and organized then you have plenty of hours left. I used to work in a different business industry, I worked there for 4 years, and in 2 years of that period I worked every single free time I had, while married (albeit no kids) and still spent time with my wife, all thanks to being planned and organized. Still doing the same thing, my work takes a good chunk of my time, but I don't waste the rest on just relaxing all the time, I try to develop new skills and use them for fun instead of work now.

In any thing one does in life, planning and time management goes a long way to determine how successful it will be. Spending time on unnecessary things is what we all should try and avoid. If one plan is life well, you will try new things and as well develop new still even if you are married.

[Cryptomultiplier]

There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.

Please share what you believe to be the biggest risks in finance.

For the most of persons I have met, the biggest financial regrets they have had, has been not trying out an entrepreneurial dream at an early onset.
They had good ideas they didn't embark on while they had the nudge and that has left loopholes. Some of these ventures would have made them millionaires or billionaires today. Those who went after thiers and explored other potentials including financial investments like cryptocurrencies have little regrets these days as they an open destination to financial freedom.

[Uruhara]

The lack of children while they were younger was one of the main regrets that wealthy senior people shared with me.  I believe I already comprehend what they're trying to say. Because you want to leave them with what you have. For example, if you own large properties, a lot of gold, or Bitcoin, you'll want to leave them to your children once you pass away. However, having none or just one of these items is not very useful.

Well this will indeed be a regret which can indeed be the deepest regret. Because rich people will certainly be confused to find successors for the assets they already have in large quantities. and if the rich don't have children then I think they will feel very empty even though they have a lot of possessions. Sometimes their happiness becomes incomplete without the presence of a child. although there are rich people who make a solution by adopting children. but please also note that affection without blood ties is difficult to do. The point is that even rich people have their own problems. we may not even think that way. but those who are already rich will certainly be confused if they don't have children and will definitely regret it when they are old. because they need heirs for the property they have. and in essence humans still need other people in their lives, especially offspring.

[Ani1985]

I feel a lot of regret about finances, seeing the current price of cryptocurrencies which is very expensive and I can be patient and hold on until now so I don't have to work anymore, but regrets at this time won't happen again if we dare to invest now and hold on for at least 5 years.

[huu78]

Honestly, those people who think that if they are married with kids and can't try new things do not realize how many hours in a day we have. I have seen so many people who just hours and hours on useless stuff that if you are planned and organized then you have plenty of hours left. I used to work in a different business industry, I worked there for 4 years, and in 2 years of that period I worked every single free time I had, while married (albeit no kids) and still spent time with my wife, all thanks to being planned and organized. Still doing the same thing, my work takes a good chunk of my time, but I don't waste the rest on just relaxing all the time, I try to develop new skills and use them for fun instead of work now.

but people have their own thoughts, you can't say the choices you make are better than someone else's because their thinking is certainly different from everyone.
I want to spend more time with the people I love, even though sometimes I spend time in games.

[xSkylarx]

There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.

Please share what you believe to be the biggest risks in finance.

For the most of persons I have met, the biggest financial regrets they have had, has been not trying out an entrepreneurial dream at an early onset.
They had good ideas they didn't embark on while they had the nudge and that has left loopholes. Some of these ventures would have made them millionaires or billionaires today. Those who went after thiers and explored other potentials including financial investments like cryptocurrencies have little regrets these days as they an open destination to financial freedom.

Ive just recalled also that some of my friends talked to me about putting up a shop in our place that they see potential in our place but due to the people talking that it is not profitable because of this reason they haven't pursue it but now they just realize that there are a lot of shops about it in the place which is successful if they just pursue it for sure they are the first shop on it and they has a lot of customers. Taking risk is really the regrets of people because they are scared to failure that is why they will not pursue it.

[YUriy1991]

For those who profit with stocks, crypto and other assets as other means of income. The most common regret is not having started earlier. Time spent idle could translate to opportunities missed.

There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.

Please share what you believe to be the biggest risks in finance.

I think one of the biggest risks in finance is overexposure to one investment class or asset. Diversification is key to mitigating risk and ensuring a more stable portfolio. Additionally, taking on too much debt or failing to plan for emergencies can lead to financial stress and instability.

Well, here it is very important to have a solid understanding of personal finance and to avoid making impulsive or emotional decisions especially when trading, I will give a small example. Look at the current reality, many are entering the market using payday money at the beginning of the month in the hope of getting additional passive income from trading results but what happens is buying high and selling cheap. financial regrets.

[ringgo96]

Both of these points are indeed problems that we must face later if something that we already know but currently we are still leaven to do it, even though there have been so many successful people in the crypto world but we are still hesitant and this is something that must be considered immediately at this time because someday there are so many new things that will happen and can give us luxury if we are now there Preparation, so for me investing is the biggest risk for me because we don't know what will happen even though we now have faith but doubts still exist.