how do you recover from losing your life savings in the stock market?

Answer 1

Hey, I feel your pain, believe me. I lost a bundle in 2000. The biggest thing is don't look back at the past. I know, you had a lot more a year or two ago: but what's that to you now? Presumably, you did your best given the information you had at the time. They always show those charts and say "if you had bought here, you'd have made a bundle." Well great, but at that time you didn't show me the chart with the stuff that happened later on it.

Also, looking back doesn't help you in recovering any of that money. All you can do is look forward to where you want to be, and look in the present to see what you can do about it now. Sure, you can adjust your investing style in the future, and it's worth looking back to see if you could have done it better. But, in my experience, it's all too easy to go from self-examination to self-recrimination and regret.

So, try to evaluate where you really are - now - and think at least a little about where you think you need to be in the future. That's always hard - they always start by saying "figure out how much you need when you're 65" and I always want to say "how the heck should I know???" So, I'd say think a bit about the future, but primarily be concerned about the NOW - saving what you can, thinking about alternative investment strategies, etc.

I'll be glad to help you more if I can. Feel free to contact me personally.

Answer 2

Losing you life savings can either be caused by a gambling addiction on your part or a predatory broker.

You didn't say worth or real money. If you didn't sell, stocks go up and down so there is still a chance the stock will go up. If you lost real money you will have to work longer, but generally not much longer. You will have to know how much you are worth (include the house if you own one) and when your parents or grand parents died. Now if you own a house, you can do a reverse mortage at 68 in which the bank pays you money each month.

If you don't own a house go here.
http://www.moneychimp.com/calculator/compound_interest_calculator.htm

Play with it to get a sense of when and if you can retire. Figure 8% compound interest with a SP 500 index. If you use a Roth IRA, you pay no federal taxes.

Answer 3

First, get into a very private place, like a closet, and pray. Offer your heart, soul and life to God. Ask Him to direct you, though unworthy.

Though not a member of any church...I've done this 3 times in the course of my life, and each time, have enjoyed His Spirit, comfort and wisdom, immediately thereafter.

Adversity is an indicator that you are far from the path you should have taken.

Rejoice, for you have been lovingly awakened.

Read the New Testament. You will be taught as clear as a bell that money, position and fame are not why you were placed here.

You were born to love and to serve.

The wealthiest souls are those who have lost all, but have thereby gained their own soul, in the mire of humility.

Deep felt gratitude for small things is greater than any bank balance. You have your health, freedom and another new day...

Congratulations!

Answer 4

1. Get a job.
2. Learn from mistakes.*
3. Put money back in the market.*
4. ???
5. Profit.

Answer 5

Depends on how old you are... If you are 55 or older, chances are, you will never recover and will have to depend on Social Security. If you are 35 or younger, you still have time. If you are in-between... well, you get the picture.

Answer 6

hang yourself. nothing to recover from lol. i have always said it. stock markets mutual funds etc etc etc all that crap is a means by which rich people dupe money hungry masses into believeing they can get rich but in actuality only the people at the top get richer and a few people might get lucky on the quota of people that are supposed to get lucky. the rest are just straight up JACKED out of their money.

Answer 7

do the opposit

Answer 8

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