Did you ever lose a lot of money? How did you cope?

I just lost half my life savings this week. I invested in something expecting a decent return but it all got lost. I have been feeling terrible about it the last few days.

Have you ever lost a lot of money? How did you cope with it?

If you have invested in the stock market, you need to be patient until bull market starts.

If it's a permanent loss, you need to be very careful with your finances in future. You can invest where your principal is always secured.

One way to cope with it is to accept the loss as if that money was never meant for you.

Don't even remind me

I lost bcoz of my FIL

He said to invest somewhere and that company doomed with all my hard earned money

And i couldn't even said anything to him

The good thing about losing money is u can earn it back…there is a lot of things in life u can’t earn back so …losing money while still a bummer, is not as bad as losing health, or a person u love

Don’t worry …be more prudent and careful going forward …save, work hard and get urself financially stable again …😊 all the best I’m sure things will workout for you …just need to overcome this setback and move on

My dad ran into a similar situation with an investment that went awry…and that too months before my sisters wedding …he just put his head down and worked hard for the next 2 years (night shifts, on call work, anything that could bring in more income) …my fam cut down on all unnecessary expenses for those 2 years …and that got us back on track …so it’s not unusual to get back on track post financial setbacks …

If it's crypto or stock, don't sell. Now would be a good time to buy with hopes of mid 2024-25 gains.

My portfolio is down 50%, the investment is about 4 years worth of working around the clock ...for me..

.. the gains would be enough to retire on.. so it's a gamble. ... that's the mindset I had no option but to set once everything crashed lol

I think we live once, we try , sometimes we succeed, sometimes we fail.. but we gain experience?

If you are able .. work a little more for the next few years and save (Actually buy silver!) Don't dwell on the lost money ..it will upset you and you cant afford to compromise your health at this time. When money comes.. it can come fast too. So try not to do your head in.

Some of my money is in mutual funds. An it does go down on occasion

Hugs! I hope you feel better. I prefer investing in mutual funds and FDs. They get you lesser returns but are safer options. I just dont have the guts to invest in share market. Also m not a very lucky person in general, so I also feel like the day I buy a company's share, it will go under in a few hours.

But here is how I lost money:

My wallet got stolen in Prague. And since I had converted quite a good sum of Euros to Czech Koruna that very day, there was quite a bit of money in it that day.

Took me a while to get over it, bcoz I kept cursing myself for not being more careful and ignoring my gut instinct to keep the wallet in my inside pocket before getting on the bus.

For a good while I used to hurl the choicest abuses at the thief (in my head ofcourse). Abhi bhi de rahi hu. Keede pade usse. Jail me sadey wo. I coped with it imagining that the thief was hit by a speeding vehicle while getting off the bus after stealing my wallet (Instant Karma😆. And ya I am evil like that. I aint wishing well for that thief.). And then some really needy person found that money and fed their family with it for a couple of weeks.

But as a result of this incident, I was so petrified of getting pickpocketed during my next overseas trip that I used to keep checking my stuff every 20 mins like an insane person😭. What doesnt kill you gives you terrible coping mechanisms 😭

Its just money, so you recover fairly quickly. Time is the best healer. Will feel like crap for a few days but will be fine in about a week.

If it makes you feel better I don’t have any life savings now

I used up all my retirement fund in the past year because I needed it.
Paisa bohat bewafa hota

Originally posted by: Lord_Voldemort

I just lost half my life savings this week. I invested in something expecting a decent return but it all got lost. I have been feeling terrible about it the last few days.

Have you ever lost a lot of money? How did you cope with it?

I lose a whole lot of money to the Energy company. More than u can imagine.

And there's nothing I can do about it. Poor me, I didn't even invest it. I'm practically getting robbed under broad daylight under a legally secure thieving system.

The pain doesn't end.