I May Just Have Lost $11,000

17 replies
Hi Warriors,

I lied a bit in the title, I've actually potentially "lost" £11,000 which probably equates to $13,000 or $14,000 USD, or more, depending upon the exchange rate.

This is off line money not on line earnings, just to set the record straight.

All of the problems are a result of the world wide banking and credit crisis, or so it seems.

The money has been "frozen" due to a cash flow problem with the investment company. Everything is above board on that, I'v'e obviously, checked with the UK Financial Services Authority and they agreed with the investment company's action.

Now, the investment company may have had cash flow problems, but now so have I and probably other investors with that company too. This is a real pain in the butt for me at the moment and a sourse of worry. I may or may not be able to recover the "frozen" money.

Now can I survive this? well yes I can, fortunately. Nevertheless is is still naturally, a matter of great concern to me.

The point of this post, sorry that it's a bit long and drawn out, is to enquire whether any other Warriors have suffered the same or similar short term financial difficulties to those that I am experiencing, perhaps because a party in their supply chain, or an associated financial institution got into financial difficulties themselves and as a result passed the problem on?

If so, how did you cope with it? I am particularly interested in your positive thoughts during your difficult experience.

Thanks in advance for your input.

Regards,
Jeff Henshaw.
#$11 #lost
  • Profile picture of the author dageniusmarketer
    You need to look into owning gold or other precious metals to store and retain your wealth as your wealth can easily be eroded due to devaluation of the countries currency or taken from you by freezing your "digital" assets, as almost all money in the bank is nothing more than 0s and 1s on a computer hard drive.

    It would be one hell of a problem if the hard drive crashes and you went totally broke. Id suggest to keep only a small portion of your money in the bank as digital fiat for liquidity purposes, and the bulk of it as precious metals that always retain their value. Not to mention, you can spend gold anywhere in the world without currency conversion so thats another reason to look into it. Just my two cents.
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    • Profile picture of the author winebuddy
      Originally Posted by dageniusmarketer View Post

      You need to look into owning gold or other precious metals to store and retain your wealth as your wealth can easily be eroded due to devaluation of the countries currency or taken from you by freezing your "digital" assets, as almost all money in the bank is nothing more than 0s and 1s on a computer hard drive.

      It would be one hell of a problem if the hard drive crashes and you went totally broke. Id suggest to keep only a small portion of your money in the bank as digital fiat for liquidity purposes, and the bulk of it as precious metals that always retain their value. Not to mention, you can spend gold anywhere in the world without currency conversion so thats another reason to look into it. Just my two cents.
      A little late for that advice... don't you think?
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  • Profile picture of the author dageniusmarketer
    lol yea you may be right... but at least he would know going forward so that he wouldnt have an even bigger problem in the future.
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  • Profile picture of the author JayInOrlando
    There is a good reason why I do not trust my money management to others. If I'm going to invest in something I want to have full control over it at all times. So far because of this I have not been affected by the stock market crash. Sadly, a lot of people I know did not pay as much attention and there lifes have been ruined.
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  • Profile picture of the author DelfinaMc2008
    Banned
    [DELETED]
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  • Profile picture of the author crystalq
    I knew a guy who was with Storm financial, he had everything
    invested with them and they paid him income monthly (I think).

    The company went into liquidation and he lost everything, he is
    now wondering how he will survive and he might lose his home.
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    • Profile picture of the author Jeff Henshaw
      Warriors,

      Thanks to all who have posted.

      I appreciate you taking the time to do so.

      Please be aware that I was not looking for financial advice in my post, but rather, personal advice based on anyone with an experience similar to mine.

      If you have a similar experience please post it.

      Just to make a point, I am not looking for sympathy; I can sustain this loss, if it becomes a loss (I hope not!).

      It's simply the fact that my available cash (for use in the businesses) became unavailable so quickly that it was both a shock and a lesson learned for me!

      Best Regards,
      Jeff Henshaw.
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  • Profile picture of the author Brawnydt
    PM sent. I think I know exactly what you are talking about. If not, then it's a really strange coincidence.
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  • Profile picture of the author Danny Turner
    Hi Jeff
    As a young man I accepted the (budhist) principle that all suffering comes from attachment to worldly objects - I took the position that well fed, well clothed was enough.
    Chuckle - as a result I had a few money worries over the years - I did however
    spend a more than average amount of time with my 3 boys and am blessed with children to be proud of whith whom I enjoy a good relationship with .......
    inteligent lads who debated my approach to money and as a result shown me the error of my point of view - ie - it's the attachment to the money that brings suffering - not the money -classic point - money will make you comfortable - hapiness comes from within - response - so why not be comfortable and happy? - chuckle hard to argue with
    More recently I have looked to New Thought principles for internal guidance (there is a lot more value in that than touted by the average Law of Attraction guru)
    Key aspects are learning and power of gratitude.
    ie in any given situation look for the benefits , what is to be learnt , how will it help my personal growth , how will this situation help me to make better future decisions etc
    use of gratitude - is your glass half empty or hlf full - compare your loss to what you have left - your sitting at a computer - have electricity in your home, you have money to invest, are you worried about where your next meal is coming from? wow - compared to many of people on this planet you're lookin good!
    Perhaps thi will be a reminder to all the things you can be grateful for - you may have read about the power of gratitude - I endevour to make it a part of my daily life - and use little setbacks as reminders to practice - just a short thought on how blessed my life is - priceless
    Hope this helps
    Danny
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  • Profile picture of the author NicheProdigy
    Banned
    What doesn't kill us will make us stronger.

    I do hope that you get your money back, but if you don't I am sure you will find it another way.
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  • Profile picture of the author tessmac9708
    Hi Jeff

    Graham from the UK here.

    Firstly I would say don't take this lying down.

    The FSA is a bunch of "Old Boy network, backslapping sycophants" who acts in the best interests of themselves and thier buddies in the city, so start fighting, make yourself a real pain in the arse.

    After all this is YOUR MONEY.

    Threaten them with Radio 4, Watchdog and the local and national media.

    Cashflow problems my arse..try telling BT or Scottish power or the water companies that you cant pay them due to "Cashflow Problems" abd see how miuch sympathy you get.

    If it wasn't for the shortcomings of the FSA, a lot of the UK banking crisis wouldn't have been so bad.

    Dont get even get "Evil"..this is your future and your famillys..so not a time to be nice or reasonable.
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  • Profile picture of the author Treby
    Sorry to hear this-Some years ago I traded the forex fairly strongly-changed broker as offered better deal-greed in my mind again to save money-they were thieves took $5000 off me and vanished:Morale of my story is you have to move on and in doing so you get smarter.Hold on to the pain it will freeze you to try again,at least you are alive to fight another day-Take care and give the process of time to heal your anger-Believe it or not in a few years time or less you will look at this as just reading a old paper-
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  • Profile picture of the author marketing1012
    this truley sucks man,

    but really look it as a learning curve and some adaptation in todays changing and struggling economy,

    we all fall down, but we stand up even stronger and wiser,

    just try to look ahead with a smile and knowledge.
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  • Profile picture of the author artwebster
    The only time I was in this situation was about twenty years ago when my health went through another of its contortions.

    I had been forced to give up my business and sold the premises to a developer through an agency.

    The agency called me on the day that the final payment should have been made to tell me that the developer had short changed me by £20,000.

    My wife got my solicitor to visit me in hospital as a matter of some urgency but his only advice was to sue - which would have made him wealthier and totally consumed my cash.

    I decided on direct action and wrote a letter giving all the facts of how much the guy was trying to steal which I had photo-copied and gave copies to a friend who delivered the first one to the developer with a little note saying that the rest of the letters were going to be delivered to all the estate agents within a 30 mile radius. He also gave the route on which he was going to start delivering and that only the cash would stop the delivery.

    The cash was handed to him just as he was entering the sixth estate agency.
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    Some old school smarts would help - and here's to Rob Toth for his help. Bloody good stuff, even the freebies!

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  • Profile picture of the author jamesmccoll
    Ah man, that sucks!

    Obviously (as I'm sure you have done!) try to get it back or sort it out. BUT... I'll tell you a story.

    My friend was in LA with me for a while and we were staying at our friend's place in the Hills. One night we all went out as you do. And my friend just bought a brand new mustang and as we had just got there, it had ALL his stuff in still because we'd been so excited just to get out and explore. Anyway, you've guessed it, the car got stolen. I was like "F****** hell etc etc" but he was like. Nah man, it's cool, ill just go to the police station and sort it out. Didn't mention it again the whole holiday lol. To just let something go as easily as that and sort it out with no stress is pretty cool of him.

    So I guess the lesson is stressing and getting angry doesn't help the situation. Just do what you gotta do to make it right!

    Good luck man!
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  • Profile picture of the author Kelly Verge
    Jeff,

    I don't know if you have any kids, but if so, consider the following...

    I'm post-divorce and have been struggling financially. I fight with cash flow all the time, and this fight has hindered the growth of my business.

    I have used this time in my life to really focus on teaching my boys all the lessons that are really important.

    • Money is far down the list of importance.
    • So are "things."
    • Home-cooked meals are MUCH better than restaurant food.
    • It's important to save - whether your budget is tight or you're doing well.
    • Time is the best gift you can give.
    • Outdoor activities are often not only free, they are usually much more fun than those that cost.
    • Adversity can (and should) bring out the best in a person.
    • Lean on your faith (and consider Abraham if his story fits in with your beliefs).
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    • Profile picture of the author Jeff Henshaw
      Well thanks again to all Warriors who have responded with good advice and ideas.

      I feel somewhat better from reading your postings and I will certainly take action on some of the things that have been suggested.

      Best Regards,
      Jeff Henshaw.
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