Overcoming Fears Of Losing Money

I hate losing money.

I do.

I hate it.

I have yet to meet someone who enjoys losing money, and I've never met a rich person who has never lost money. But I've met lots of people who aren't rich who have never lost money in investing or business.

Look, this fear of losing money is real. To me, it leaves a bitter ache in my heart, but I accept that it's part of the process of learning and refining the art of making more money via entrepreneurship, Passive Income Internet Businesses (PIIB) and Passive Income Investing (PII).

Everyone has this fear, regardless if you're rich or poor. Even monkeys scream if they feel shortchanged.

But that's not the biggest problem, the fear is not the biggest problem - the biggest problem lies in how you manage the fear. In how you manage losing, and in what you learn from it - what makes the difference between richer and richer and poorer and poorer is how you handle the loss and failure. Of course, the same can be said about life in general, but let's keep to just fear of losing money for now.

It's perfectly normal and okay to be fearful of losing money - I rather you have this fear than not. You fear it not only because you know that it's hard-earned, but also we don't like to be losers. We all want to be winners. It's perfectly understandable to be afraid when it comes to money....and you can still be a rich therapist despite this fear. There's things we're icky about and things we're not icky about: I'm not icky when it comes to blood and visceral stuff (maybe it was my training and experience as a hand therapist), but my wife would prefer not to. You talk to me about accounts, I'm super icky cause I'm really uncomfortable with it.

If you're afraid of losing money, there's two solutions can you can use at the same time or independently: start small and/or start early. Starting small allows you to experience less fear and pain if/when you actually lose money (I love this concept because I love experiementation on small scale before ramping up full scale); starting early would allow you to capitalize on the power of compounding. I think this is the same reason why banks encourage people to start saving early - if you start young, it's much easier to be and become rich. A person who invests $10,000 at 20 years old as compared to a person who invests in $10,000 at 30 years old is worlds apart.

Compounding Chart

It's this power of compounding interests that led me to my growing passion and interests in Passive Income Investing (PII). Which is also the same reason why I hold a minimum 10, 15 years minimum timeline of my investing, with dividends reinvesting for accelerated growth over the years to come. But you must start as early as you can.

But what happens if you don't have much time or you want to retire early, so that caps your timeline? How then can you handle losing money? From my viewpoint, if you're older, you should have more savings to invest in, and so you can also start experimenting with smaller amounts before ramping it up. However, if you've tried and certain that your fear of losing money is too great, then I'll recommend that you go into Passive Income Internet Businesses (PIIB) to earn money for daily living and which surplus you can push into dividend stocks.

But, don't stay in fear or keep talking about the fear and doing nothing about it. Start by taking smaller steps and smaller experiments, just don't stop where you are in fear and keep complaining or keep being fearful - if you stay here, that's when you lose everything. Some people are so afraid of losing that they play the "not-to-lose-game" which really is a losing game.

Be unafraid to lose.

Like most skills in life, it's similar to learning a bicycle. Maybe the first 10, 20 or 50 times you try to ride a bicycle, and you fall off. Maybe you have some scratches on your knees and elbows, and what do you do? Whining or crying about the pain wouldn't make you any better in riding the bicycle. So what you've to do is to pick yourself up, sit on the bike again, and try again, and refining your process and actions. You do this repeatedly until you can stay on the bike. Most stories about this learning to ride stop there. But that's not it. There's still more to learn. You can learn to ride the bicycle casually in a linear fashion. You can pick up cornerings. You can pick up cycling without sitting. Or going further than you did yesterday. Or faster. Or compete.You will still fall, people will still cycle faster than you, but you just keep going.

Likewise in Passive Income Internet Businesses (PIIB) and Passive Income Investing (PII) and making more money, you can always get better.

Let your losses, failures, disappointments and shortcomings and all your pains become your inspiration to do better. Most people who undergo losses and pains and disappointments often get defeated and shy away - let me let you in on a secret. Winners go through the same pains, the only difference is that they turn these pains into inspirations to win, for your more compelling future for yourself and your loved ones.

join me in intuitive, loving, gentle and good success and self mastery that actually matter. no hype. no bullshit.

Hang around here for some time, you'd see that I don't well with hype or bullshit. I can smell that typically a mile a way, and I hate that shit too.

I've been working on myself and on NigelChua.com for years, since 2006, and only in late 2019 I started to focus on intuitive and loving leadership, entreprenership and personal development.

Here are some areas that I work on a consistent, ongoing basis.

Back To Home / Main Page

See the Tools & Resources I use to improve my life, businesses, health, build passive income and more.

The core topics I cover in NigelChua.com is:

  1. Eternal life and salvation: Jesus Christ is the Way, the Truth & the Life
  2. Fix your health: get healthier, live longer, run faster, more energy, fuck more
  3. Passive Income Lifestyle: Become financially secure by building assets that provides multiple streams of passive income that's more than your living expenses
  4. Personal Loving Relationships: Attract, build and grow relationships you love
  5. Philanthropy: give to the poor and needful
  6. Philosophy: Conscious, purposeful and positive living
  7. Productivity: How to become more efficient and productive in less time
  8. Insure yourself and your loved ones (Health insurance is important)
  9. Optional Adventures: Become rich and wealthy
  10. Optional Adventures: Build businesses that adds positive value to your society and life
  11. Success Principles

passive income lifestyle actions to take today and EVERYDAY To build streams and streams of passive income

#1 Start An Online Business For Recurring Business Passive Income

Wealthy Affiliate is my recommended for WordPress online businesses.

I've been a premium member of Wealthy Affiliate since 2015 and there are a number of pros to be with them, which you can read at my Wealthy Affiliate review here.

One of my favorite points of WA is that they have a try-before-you-buy forever-free membership which you can sign up here for free. No credit card needed.

#2 Publish/Write Kindle Books For Recurring Royalty Passive Income

Kindle Money Mastery 2.0 is comfortably and confidently the best affordable Amazon Kindle Publishing Training Program Since 2013. It provides you a hand-holded step-by-step video training on how to write and publish a Kindle book in 24 hours or less.

Try Kindle Money Mastery 2.0 Here Now

#3 Invest In Pure Recurring Income Dividend Stocks

Become a Top Dividend Stocks Online member and get top dividend lists that highlight the best dividend stocks.

You'd get live updates to

  • The top 100 dividend stocks
  • Ex-dividend Ratings
  • High Yield Ratings
  • Monthly Reports 
  • And More

These are the consolidated reports that you'll need to guide and make good and sound dividend stock buying decisions, to ensure that the dividend stocks that you buy are good.

Become a Top Dividend Stocks Online member today

Join the Invite-only Forum For Investors & Traders By Bill Spetrino

  • For Beginning Investors, As Well As Experienced And Professional Traders. 
  • There's Open Exchange Of Financial Information, Ideas, Theories And Strategies For Trading The Financial Markets. 
  • "near Real-time" Trades Are Posted On Stocks And Options.

Apply To Join The Invite-only Forum For Investors & Traders By Bill Spetrino Here

#4 Diversify, Protect & Multiply Your IRA/Cash

Billionaires are investing in precious metals and cryptocurrency such as Richard Branson, Peter Thiel, Eric Schmidt, Michael Novogratz and not to mention scores of very smart people and multi-millionaires like Tim Ferriss. I too am investing in cryptocurrency.

Ever-Green Assets: Precious Metals (Gold & Silver)

Experts agree that the financial market is now even more fragile than pre-2008. Will your current retirement portfolio weather the imminent financial crisis?

Threats are many:

Is gold really useful in times of trouble? See for yourself:

Invest into precious metals such as gold and silver here

Future (Proof) Assets / Money: Cryptocurrency

You may wonder why investors worldwide are flocking to digital currencies (also known as cryptocurrencies or cryptos)?

Take a look at this chart showing the growth of a 10K portfolio invested in just three cryptocurrencies.

This is just one of the reason. And it'd continue to grow as utilization and applications increases.

Diversify and invest into future currencies and cryptocurrency such as Bitcoin, Ethereum, Litecoin and Ripple today, find out how here

One year from today, you'll be one year older. What would you have done by then?

Back To Top