Wednesday, November 3, 2010

Mistake #2: Investing While Unemployed

During the summer, I was able to save some money from working at a full-time co-op job for school. When the fall came and it was time to go back to school and pay tuition, I was hoping that my student loan would be able to cover me for the term, until I went back to a full-time co-op position. I decided not to take a part-time job, and try to focus on school work instead.

My mistake was that I've had to dip into my stock account savings to survive until I am employed again. What's worse is that I made a few too many trades during the months being unemployed, because I was trying to re-allocate my assets in a more short-term way. On top of that, I've had to sell some stocks before they've had the time to appreciate in value a little. I think I've managed to stay around the break-even point, but I don't think I'll be investing again until at least next summer, when I'm caught up on bills, saved some tuition money, etc. and have some extra money that I can put away in my stock account again.

No comments:

Post a Comment