How doyou cope with financial loss

If you lost your money in the project you have invested, how do you cope? In 2015, I made a major loss on various business. To cope with the loss, in 2016 I made a plan to invest more on the projects that are doing find and began to take back investments from the project that are staggering. I also made a substantial cut on business related expenses.

 

Life is for living!
It is not a quest for asset accumulation. You can not take it with you!
In 2008/9 I lost just over 60% of my worth, no big deal, just get up and go to work!

 

It is harder to weather financial loss if you have little to no financial cushion. It is slso easy if you are young since you have the time and energy to make more money.

 

Like the saying goes, "You get knocked down, try and try again." In life you can't give up. If you do then, then you won't make it. I have a business and it failed earlier this year because of the loss of a major contract I had. It sucked! I fell hard. But I'm back up now. I had to take on some extra work and with the support of my family, my business will most likely bounce back. Weither you surround yourself with supportive people or have to go in it alone, you have to find the strength somewhere to keep on. Life is about survival.

 

To add to that, I believe that your best investments would be items that truly add quality to your life. I do not see the point in buying more items that will take even more money for upkeep. In these forums you are presented with a ton of items that will help you to cut back expenses not increase them. Saving money is just as good as making money.

 

I lost a lot of money because I like playing with the stock market, sometimes you win sometimes you lose that's kind of the drill. Anyway, the point is that if you were able to make that money once you're smart enough to make them again, I know how tough it is to lose a lot of money but you shouldn't be affected by it. After all money is just a by-product of what you do and whatever you buy with them is temporary happiness. If you lose money go back there and make even more than you had before.

 

I guess I have been pretty fortunate in that I've always gone the safe route when it comes to investments or anything of that nature. Sure, I don't take the risky options so I'm not going to have some potential massive windfall - but in saying that I can still sleep at night because things have never gone really bad!

As boring as it sounds, sometimes I think it's easier to be safe than sorry with that kind of thing!

 

Losses are not easy to swallow but at least you cant dwell on it. You can make changes in your financial strategies and make better choices for more success.

 

Well, you've done well. That is why it is even advisable to start with a prototype. test the waters and see how feasible your business model is before going all in. I, together with a friend have started a corn farm of 1 hectare. We've shared the cost and would see how well the project will move.

 

I learned to divide my income into three. The first portion goes to investments. Second portion to saving and the last third portion for use, be it feeding, clothing and what have you. It helps minimize losses since not all of my networth is into a business at a time.

 

Plenty of savings and a well diversified portfolio can take the blunt out of a loss. The goal of having a good financial reserve is to prevent an incident from turning from an annoyance to a crisis. And, naturally, avoiding risky investments or sketchy business plans is part of the equation too.

 

I cope with financial loss by looking at the long term and recognizing that life is full of ups and downs. I spread the amount I have lost over a period of time and find that the amount I have lost is negligible. As long as I remain with the potential to earn, i redouble my efforts to make lemonade out of lemons.

 

When having to cope with financial loss I have to just look at where I went wrong and learn from my mistakes. The longer you reflect on financial loss the harder it will be to recouperate and get back up again.

 

It is true that you can stand the financial crisis if you have a strong financial backings such as bank balance, reserve funds, bonds, gold etc. However, if you are a businessman, it will not be possible to save big amount of money. As a businessman you would always be looking forward to invest more because more investment gives more return. The best way to avoid financial crisis is by not putting all eggs in one basket, which means spreading the money out instead of focusing in one project you should invest on various projects.

 

I have pulled myself up from the financial loss twice. I have learned one thing from this. You just have to keep finding things. And you have to keep financial sources multiple if possible. As you can see that surely changes the way things go. I think once we take broader perspective of life. And making changes to the life accordingly. Then days surely change. People have to learn from their experience and not repeat the financial mistakes.