I have to dedicate this video to speaking on a great tragedy that just happened. WATCH NOW.
Forbes released an article a few days ago about a 20-yr old that committed suicide after seeing his trading account at -$730,000. This was a young man who had started trading on the mobile app called Robinhood. Robinhood has become very popular lately with people wanting to make money on the recent wild stock market movements.
In his suicide note, he was very angry at Robinhood and said he had no idea what he was doing. He was trading options, which enabled him to use significant leverage to reach those high dollar value losses, even though he did not start with that much money. So this young man saw his negative account balance and threw himself in front of a moving train.
This is a great tragedy, because this should never happen. I want to first send condolences to the family members. I cannot imagine what you are going through. I am certain everyone in the financial world feels sorry that something like this happened.
We, as a community, need to do a better job. Investing is not a game. This is real money, with real consequences. For some people it is a matter of life and death.
I am really concerned right now, because the economy is going to get worse. People are going to lose a lot of money. And I am concerned that more people are going to commit suicide.
So I am going to say a message right now: Money problems are not a reason to take your own life. This is a message we should be telling everyone.
Every video on this channel, I try to share the idea that you can have empowerment over your money. All money problems are solvable. It might be hard. It might take a long time. You might not like it. But there is a solution. You should never feel trapped. You should never feel like your life is over. You can always make more money.
If you or someone you know is struggling with financial issues, let them know that money issues are not a reason to take your own life. Reach out. Ask for help. You can get through this.
Please stay safe.