In this episode, Mwakaneno Gakweli talks to Rina Hicks, founder of Money-Wise and Valentine Njoroge, Co-Founder and CEO of Africa’s Pocket, recounting their experiences in losing money through failed investments and how it informed them to build Investable, an online course that gives you the confidence to make an investment plan that empowers you to be in control of your financial security. Rina shares her story of losing over $5000 to a scam packaged as a bitcoin mining company. In contrast, Valentine lost her finances to a fish farm after failing to streamline her operations.
Some of the key takeaways on avoiding failed investments from the podcast include:
- Conducting due diligence on the investment, the management team behind it, and how it generates revenues.
- Having clear goals before investing.
- Diversifying an investment portfolio.
- Making investment decisions in light of an individual’s personal circumstances, such as cash flows, liquidity requirements, and debt.
- Understand the true opportunity cost of every investment decision.
Investable will help you learn how to make smart investment decisions so that you are better equipped to avoid failed investments.
Gain the confidence to take control of your financial future, and learn more about the course by downloading this free guide to investing below.
Your free guide to investing: https://africaspocket.ck.page/7711988375