This is an “aha” moment.
2008 was hands down, one of the darkest years of my life. Our band had abruptly split after 8 years, and it was depressing for me transitioning into working a full-time 9-5 job as a two-way radio salesman. Tearing my ACL and meniscus in my right knee that year didn’t help much either.
Later, my band manager hit me up and presented an opportunity to invest in an Americana style clothing line that was backed by a couple of All-Star MLB players. The founder of the company took his former clothing line (Third Rail) to $20M. So my two friends and I invested.
The result? We lost $103K fast. I later found out other investing members lost way more. There were physical threats, legal threats, just an ugly time for all of us.
The clothing line never made it to launch.
I personally blew all of my money, depleted my Roth IRA account, and ended up owing a lot of money to creditors, my mom, and a couple of friends (now ex-friends). Read the full article here.