Hey guys i need advice. Long story short I lost roughly few million in voyager bankruptcy. Huge financial setback. Now i feel lost and stuck at my job. Was planning on quitting end of summer and pursuing other thing aswelll as missionary work etc. Im 30 now and past 3 years i have been working 7 days a week and invested alot in Voyager and now lost it all. Im back to square one. I know could be worse im always thankful everyday for everything I have and 99 percent its all in our minds any advice motivation will be greatly appreciated! Thank you
4 comments
Just have to work and rebuild the nest egg again… happens to us all at one time or another. I’ve rebuilt twice before… hopefully never again.
Yep. Financial markets are a crap shoot. So what would it take to punch out of the rat race? Do you have a family? If you sold everything would you be able to pay off everything? If you have have no major ties and can punch out by liquidation why not follow your dreams now. Stop clinging to material things and pursue the spiritual. Material things often block us from our true purpose in life. I know that’s what happened with me. Getting laid off and losing everything was probably the best thing that happened to me.
Take a deep breath, forgive yourself, and start over. It’s all you can do. Let go of the future you thought you were going to have and embrace and appreciate what you have today. Build a new plan based on where you are and start working towards it.
And in the future, don’t gamble with your investments. Slow, steady, and boring investment into ETFs is how most millionaires build their wealth. And it’s how you can become a millionaire, too.
Since this was crypto, I guess we can assume this wasn’t something you held for a long time to end up with a few million? How much did you actually put in, I’d just view that as your loss, not the millions you temporarily had on paper.
While it sucks, there is only one way to go and that’s forward. Try your best to take your lessons from the loss and not dwell on it. If every day you go to work thinking “this is BS, I had $3M and should be retired”… you’ll be absolutely miserable the rest of your life. I think the lesson here is the value of diversification, even if it comes at the cost of some gains. The cliches are cliches for a reason.. “don’t put all your eggs in one basket”, “money easily gained is easily lost”, etc. Take some time to reflect on it and see what your lessons are and internalize them so you don’t end up here again.
I kind of like to think about this story in times like these…
>…an old Chinese farmer lost his best stallion one day and his neighbor came around to express his regrets, but the farmer just said, “Who knows what is good and what is bad.” The next day the stallion returned bringing with him 3 wild mares. The neighbor rushed back to celebrate with the farmer, but the old farmer simply said, “Who knows what is good and what is bad.” The following day, the farmer’s son fell from one of the wild mares while trying to break her in and broke his arm and injured his leg. The neighbor came by to check on the son and give his condolences, but the old farmer just said, “Who knows what is good and what is bad.” The next day the army came to the farm to conscript the farmer’s son for the war, but found him invalid and left him with his father. The neighbor thought to himself, “Who knows what is good and what is bad.” – Taoist