Reply to What were your biggest financial mistakes?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Taking out a $300K second mortgage in December 2020 and then using all of it to buy PYPL stock. We bought 1200 shares at $250 per share and now have only 500 shares remaining worth a measly $30K. We ended up selling 700 shares throughout 2022-2023 at a huge loss just to make our payments on the second mortgage.

We have 27 years of $1300 payments remaining and maybe 2 years of runway in remaining stock until we’re insolvent.

I never would have done this before, but so many people on DCUM were going on and on about refinancing at historically low rates and using the leverage to invest. [/quote]
Yes, but why Paypal? Any other one would have been better. [/quote]

PayPal was the very definition of a stock market bubble. I suppose when it was skyrocketing during early COVID it seemed like the entire world was transitioning to online transactions and investing here was a no-brainer. But then it crashed just as fast. It is hard to see a bubble when you’re looking through it from the inside. [/quote]
Yes, but $300k into one stock? I bought Tesla as it was going up like a rocket. Don't listen to DCUM, but Bitcoin is on its cycle, right? Let's hypothetically say you are buying half a Bitcoin now (don't) with the $30k and see where it goes from now to August/ September 2025.[/quote]

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