Lost life savings in stock market reddit. Was heartbroken but lesson learned.

Lost life savings in stock market reddit Go over to Wall Street Bets and you will see idiots who lost their entire life savings to stock market trading. true. It will go up and down over the months and years but overall will go up. At first, I lost a bit, but then I took bigger risks to recover my money. I lost everything in the stock market last week. There is nothing amazing about this! This is literally the epitome of everything wrong with modern stock trading. After three weeks of sleepless nights, I lost all my savings. They literally had all their money in this stock because it was supposed to be a sure thing. I'm a decently high-earning software engineer in the Bay Area. I thought I was a rational person, accumulating Bitcoin over the years. Losing 500k means you made some very risky plays. I tried using leverage to maximize gains. After a talk with my lovely mother who was very supportive when I was in the hardest situation in my life and feeling very awful, I have decided that I'm completely quitting with stock market, and won't try to earn the lost money back as I will probably lose more. As soon as the next republican got in the white house, (we all know who it was), and started with the tax cuts BS, I immediately pulled out the stock market and put it in a stable money market account. How the meme stock thing has really taken a toxic turn for the worst. You’ll make more money in the future. I wished I stopped at 27. A few bad trades wiped out all my gains and eventually my entire savings. I’m 26. Lost my life savings in the stock market at 30, 37 and a week before turning 42. Options or stock? I just lost $20k which is like all my savings at my age playing options. -$80k. You are in a better position than most. Best thing you can do is put your money in an SP500 index fund. I interact with people work-wise who run trade desks. Went to crypto made huge gains, had $500k of unrealized gains in DEFI and memecoins. Chalk it up to a life lesson. It was invested several years ago and all investors were just informed our investment is basically worth nothing now. Was heartbroken but lesson learned. 30 years old. The pain sucked at first, but after a few months I've convinced myself that it doesn't matter as much as I thought. Dip your toe in with 10K. 622 votes, 567 comments. "Do not try to recover what you have lost in the market, from the market" True words have never been spoken. This is about $220k. Re-evaluate your life and be honest with yourself whether you are "trading" or "gambling". Life savings gone. Thankfully I maxed out my 401k and retirement savings everywhere, so I won't be screwed later in life. “I’ve lost my life savings five times in day trading,” he Nov 9, 2024 · I got greedy and thought I was the best trader ever and lost everything over the period of a few weeks to months. It actually is an easy thing to do, way too easy. Since April of 2020, I’ve finally amassed a 6 figure loss. That's why investing is best. Don't throw 100% in. Imagine if you were 65 and lost 65% of your account balance. This man pissed away a guaranteed safe retirement. I had BTC worth 12k, my entire savings, and got greedy as BTC rose. Don't forget the sick feeling from this life lesson, but it's time to move on. It started with the stock market, then crypto, then sportsbetting, then online blackjack. Mom lives in a 2 bedroom apartment and I’m sleeping in my little sisters room while she’s away at college, when she gets back I’ll be on the couch. Your investing too much, seperate your savings from your investments, I learnt the hard way and am still learning. My advice will be that you have to get a job asap and stop trying to make money back from gambling in the market. Ur not alone with this i also lost all my life savings last year. Welcome to /r/StockMarket! Our objective is to provide short and mid term trade ideas, market analysis & commentary for active traders and investors. Between the money from our savings and the borrowed money he lost £90000 on the stock market. All of this "without your knowledge" is a red flag . I don't know what he was thinking because he doesn't know a thing about the stock market. One of them says the key difference between investors and gamblers (which he says professionals typically make the bulk of the former, while amateurs/most retail are mostly the latter) is that an investor will first look at the downside risk/how much they stand to lose if things go bad and have their final Hi all - over the past 2 months I took out a bunch of loans (both secure and unsecured) and used the loans and my life savings to trade/gamble options on the stock market. Lost it all from crypto crash plus buying into scam coins. All my bonuses or most of my checks were tax exempt so I could funnel more money into the market. You are young and that’s the biggest silver lining here. I would say to you to stay out of the stock market and keep your $300 in the bank. Crypto is risky so you shouldnt throw all your savings at it never know what could happen, I think for me the best bet is to focus on btc and eth so every month 50% of what I put into crypto goes into them, then the other 50% I break down and take small risk bets on coins I’m The short of it is that I'm in my late forties, and I recently lost all my life savings, all my retirement savings, all the education savings for my children. It doesn't affect my day to day life at all, and I learned lessons for the future. 30k in index funds is basically a guaranteed retirement fund though. I lost over $100,000 in the stock market over the past 7 to 8 years and it was my complete and total life savings. You have a career, you know how to save $ and most importantly live within your means! You seem to be cautious and thoughtful with your money which might be a difficult transition since the stock market is a schizophrenic death machine. If you look at your whole life ahead of you, 20K is nothing. 📉📉 This time I had only half in stock in the IRA so only lost half. Acknowledge that you still have a lot to learn about the stock market and try to educate yourself. Lost my life saving trading options, I am depressed but am moving on. However, that was just the start to my gambling addiction. They are in their late 60s, living in a rural village. Trading principle usually comes with a stop loss that don't crumble your bankroll like that. He's promised me he will never purchase stocks again and has begged me not to leave him now. My biggest guilt is towards my parents. Now, I have nothing left. Trading short term options is dangerous. I thought I could claw my way back out but I just kept losing more after I switched from penny to Nasdaq's. I lost a total of 500K (everything I have saved, I'm 44 years old). Looks like I’ll be eating ramen until retirement. He even took loans to invest more into the stock. Within the past 7 weeks I’ve lost my job, $48k in the stock market, my car got totaled, and had to move back in with my mom. This guy is 19. You have to go emotionless and trade with only what you can loose, unless you are rich. The more you get into the market with the intention of recovering the money you have lost, the more you tend to loose. Max out your Roth IRA and your 401k one year and based on the historical performance of the US stock market, it will be like 800k in 40 years. Now he's buying lunches with money you can't afford. Some guy was talking about how he can’t tell his wife he lost their life saving of over a million dollars on the stock. Unlike you I can't find anything pos Another guy lost 7 figures, had to sell everything he had. So he lost this in addition to your "Life savings" or was this all part of that ? Large purchases and gambles with playing the stock market really should have been discussed with you. I am now 100 days clean and have deleted my account and all apps. . Jun 29, 2023 · Matthew Schneider, ex-stock market trader and CEO of e-States, has personally experienced the highs and lows of the stock market. Amen. I gave up on options/stocks in general for now. I mean the very day he was sworn in. In addition, I had a fair amount of miscellaneous/living expense CC debt accruing previous to this gambling episode. Lost €6k my grandparents saved for me on options when I was 21. I used to be able to control it, now, I'll be up 30K and lose it all. The key is time in the market, in low cost safer index funds and stay invested/don't sell until retirement. Gambling in the stock market will never work out. I am 30 years old and recently found out I lost $140k-$160k on a bad investment in a small business. I'm penniless now and can't even afford groceries on most weeks. Most people you hear brag about killing the stock market don't mention the money they ended up losing. I have destroyed my life, my credit, relationships, I'm now in debt when I was well off with zero debt 2 years ago. That was my rock bottom. Just from in person casinos, I would say I have lost around 4000 dollars in about 3 months. I have been in shock for the last year and I just don't see a way forward. It took me a long time to get over that mentally, but I also learned my lesson about diversification and following trends without fully understanding what I was buying. And then people come onto Reddit and pat each other on the back for making literally suicide inducing decisions. How did you figure that out? Did he tell you? In my 20s, I lost most of my net worth in Worldcom (more or less what you did in real dollars). Posts about equities, options, forex, futures, analyst upgrades & downgrades, technical and fundamental analysis, and the stock market in general are all welcome. Pretty much all the (post-tax) money I've made for the past 3 years is gone. Fast forward to present day, I am now down around $20,000 dollars which is more than half of my life savings. Luckily no debt apart from mortgage, I own my car. I know this doesn’t help you at all but a lot of people have lost a lot more than $13K by making bad decisions in the market. Now it's been reduced to about $2000. Now I’m 34 with a healthy investment account and all I can say is that I am very happy I discovered the stock market at such a young age. qaf wripl sqmk ngxwbkz rmpb cuufzr eepkep czhj vvg ddfh