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Ethan Nguonly - 2 Nguonly - 2 It's - 2 shiba inu - 1 bitcoin - 1 it's - 1 he's - 1 Tristan Pelletier - 1
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☆ 22-year-old who lost $80,000 in crypto: 'I was investing with money I didn't necessarily have'
  + stars: | 2023-09-07 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +3 min
Between November 2021 and June 2022, Nguonly says he lost about $80,000 by investing in crypto on margin. But as bitcoin's price went on a tear, he decided to buy more — about $15,000 worth — on margin. But at the end of 2021 the crypto market took a turn, and by the summer of 2022 bitcoin's price crashed over 70%. "I was investing with some money that I didn't necessarily have," Nguonly tells CNBC Make It. It's also important to avoid investing techniques you don't understand, such as options trading or investing on margin.
Persons: Ethan Nguonly, Nguonly, shiba inu, bitcoin, It's Organizations: CNBC, Securities and Exchange Commission, Federal Reserve, Financial Industry Locations: bitcoin, cryptocurrency
☆ This 22-year-old earns $194,000 at Google and aims to retire by 35—how he spends his money
  + stars: | 2023-08-31 | by ( Kamaron Mcnair Valentina Duarte | Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com   time to read: +15 min
This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn, spend and save their money. Ethan Nguonly, 22, is a software engineer at Google living in Orange County, California. Living in Orange County, California, Nguonly aims to spend intentionally in order to put as much money as he can toward his investments. Tristan Pelletier | CNBC Make ItAbout a year after buying his investment property, Nguonly purchased his primary residence in La Palma, California. While he's kept a significant amount of money in crypto, Nguonly now mainly focuses on investing in ETFs and real estate.
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