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Hi All,
Amidst the chaos with Crypto recently, I decided to sell my long term holdings as I figured I was in way too deep to keep risking it.
To provide a little background info, approximately 90% of my net worth in cash was invested in crypto. Yes I know this probably sounds crazy to most, though I was happy with "no risk, no reward" style of investing hence why I had gone all in.
Over the last month or so, I watched my portfolio drop from approx $35,000 to $23,700 so I decided to sell last night to avoid further losses.
Apart from this money that is now sitting safely in my bank account, I didn't have anything else in terms of emergency funds, or any other savings in other bank accounts. Yes, very stupid I know.
I now have approx $24,000 sitting in my bank account and am wondering what to do with it? I obviously want to re-invest, but most probably not all of it like I did with Crypto. I think it's time to play a little safer, though still have my money somewhere other than a bank account earning 5%
Looking forward to hearing your thoughts and what I could do with the cash that is currently parked up and how much of it would be sensible to invest?
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- 4 months ago
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