The father of my colleagues invested heavily in real estate. Immediately after he retired from his job, he invested his entire retirement benefits in real estate. And he kept expanding the business by building more houses. My co-worker usually tells me that real estate is the best investment because of less risk. It is common for him to say that he or his father will never invest in Bitcoin because it has high risk.
There was a flood in a section of my country that destroyed lives and properties. His father lost about seven blocks of flats which is all he has in life. The houses were not issued, so he is totally broke.
Lessons
- Diversify your assets. Don't invest all you have in a single asset.
- If you are investing in real estate, let your properties be in different locations. My friend's father lost all his property because they were in the same place.
- insure your assets and businesses. Insurance can help reduce the effect of a loss.
So gutted hearing this news, and it's a life lesson we all should learn
aboutfrom. This points exactly to how important diversification of asset is, if he had diversify his investment, by now he wouldn't be in such a sorry state.
Additionally, as we are investing in Bitcoin, let's not forget to diversify into other stuff like gold and real estate, so that if any of the invest has issue just as the op post stated, you wouldn't lost all your asset.