For me, it's a learning curve where I began my self induced 101 course in 'do it yourself'' (DIY) investing last year after years of a high fee 'managed' service. Back in 2008, I wasn't aware of the crazy downturn until I seen the news and checked my 'managed' balances. Holy cow! What a plummet.
Back then I was thinking ... what's the best move here after debating for a few hours? Wait it out (or what they call HODL in the crypto world today) was my decision and turned out to be a good move. 10 years later and here we are again.
Everyday, I read a few articles with different opinions on the state of the Markets today and suggestions to stay 'safe' for now. It will also become a 'buyer's market soon where many a company has lower stock prices these days.
Being with the Bank of Nova Scotia's online bank, Tangerine ... I decided to start building more cash in a high interest savings account and remain doing that today with a bonus hike in my normal interest rate. Higher than any brick and mortar bank out there. So, that's my 'float' where I will draw from for investing into shares of Companies and Trusts I prefer. So far, so good.
Meanwhile, I continue to watch Bitcoin and developments there with the high profile companies involved. As well as, online ventures I've been interested in for the past ten years while I continue to make a decent dollar with them.
Risky for sure. One can lose all their gains and go in the hole like some did with the recent rout in the Markets. Crypto is highly unpredictable and any venture that includes investing your money should be with what cash you can do without. Side accounts just for investments with gains as the ongoing goal.
It can't be any riskier than being alongside Tim the Toolman Taylor though ...
Closing for today is the question. Why do it at all? Why not just keep building funds in a high interest savings account? Investing interests me while I enjoy the gains and satisfaction as a novice DIY'er. Of course, no one out there can credit to 100% wins with every pick and move or all investors would be millionaires in quick time.