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.
Your advice is good, nothing can be compared to investment diversification, and I wonder why some people would say this is not a good idea, especially if you are dealing with Bitcoin, I've seen a few like that. Even in that real estate, your friend's father should have thought better, the money invested can be diversified in at least 3 locations with different factors considered, which is the mistake I think he made. Real estate is good and will remain good.