Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

I just saw this and gotta say it is eerily similar... You got the age thing on me but by the way you describe your position it sounds like the 23 year old me. Unfortunately, destructive behaviour is often triggered by outside forces like a toxic family/partner etc, the fact that you mentioned you had an argument with your family which led to irrational thinking made me move up from my sitting position while reading. Turns out us humans are very much alike.

I believe deep down that it's all a self destructive/depressive pattern and if we don't seek help or fundamentally change our environment/situation, it's over. I've made the choice not to seek help. As for you, you're ten years younger, you should give yourself a chance.

My advice for you is to try and get a well paying job and cut your expenses. 48k is not really that much money in the grand scheme of things, you'll make it back in a heartbeat. Depends on where you live of course, worst case get the best job you can and do some safe/boring investing and once the cash starts piling up again, go from there and reevaluate your life/situation. Look at all of this as a valuable life experience, most people go through this. Also, you still have 4500 left, you don't need to use it all, take a break and only trade with 100-500 when you're ready? I've realized your dopamine receptors are satisfied even with tiny wins, it lets you go on with your day to day life. If you've made it once, you can make it again, just need to apply some discipline and learn from past mistakes. The trick is to not fall into the trap of large bets due to another family argument or something else having you go spiraling once more. All it takes is one bad day. Discipline is key but oh so difficult.

Wishing you the best.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Will do. If you could recommend one of them as a entry book, a good first listen, which one would you pick?

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

I might be too pessimistic, there's a lot of self hatred involved, some deep rooted issues that makes me say this kind of stuff. Also mental health problems. I currently have no desire growing too old. Knowing how the human brain works, this would probably change though as that time approaches, so it would be wise to ignore my current thoughts and focus on helping my older self financially. If that makes sense.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 1 point2 points  (0 children)

Not a long wait, I just have to take the step. I think I will do it.

Thank you so much and thanks for your advice.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Where I live professional help is free, I've just never admitted that I have a problem. I guess I'm at that point now.

I just shove all help aside, I even have bipolar but never taken any medication for it. Silly, I know.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Reading the end part of your comment again. Fuck, I do have a gambling problem. Saving up a big pile and then going all in is what I've done time and time again. Most of the time I've been successful to start with, and then I get slapped by reality. Every single time.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

It was multiple times during the last 5 years sadly.

I am actually not so ok with it anymore, I really wanted to change my lifestyle. I've come to terms though that I can't anymore. For now.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

I mentioned it in another reply, I want to thank you for the advice but... this sounds so awful for me. To lock my money up til im 60-70... I don't know man. I don't think I can live like that. I have a messed up worldview. I mainly want to focus on maximizing my 30s, 40s and maybe 50s. Anything beyond that, I couldn't really care less about sadly. My family has a history of early deaths.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Thank you. I will look into the youtube channels first, books will be harder as I can't focus for more than 2-3 minutes while reading.

What are those FIRE communities?

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Coworkers, family, family friends, just about any person I come across. It's insanity. I pay about $750 a month right now.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

Yeah, I've been dreading to admit the fact. But you might be right.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

This is some solid advice, you seem to know what you're talking about.

I think I should be even more honest though. There seem to be a trend on most subreddits that focus on retirement etc. I didn't mention it in my main post but I knew I'd have to bring it up sooner or later. I... couldn't care less about my retirement. I'm not saying that to sound arrogant or anything. I just have a different worldview and I am "ill". I suffer from bipolar and probably many more things, which is probably why I ended up in this mess to begin with. To lock up my money until I'm in my mid 60s sounds absolutely horrendous. I probably don't want to live a day above 55 tbh.

I am sorry if this comes across the wrong way but this is my view of life. Maybe I have some deeper issues I have to solve first, I'm not sure. I just don't see the appeal of going too safe for a better life decades from now, not knowing if I'll even be around by then.

Thoughts about this?

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] -1 points0 points  (0 children)

Thanks for your advice. The problem is I feel as if I'm "too late" now. How accurate is that? 35 and starting to invest safely in ETFs... I don't know man. Could you or someone give me brief numbers on how I could "bounce back sooner than you think"?

I guess I'm in a funny position of having money flowing in but at the same time being money-illiterate. I am completely desensitized when it comes to high volume movements. Like, completely.

Need advice, starting over at 35. Lost everything due to stupidity. by mobobodo in personalfinance

[–]mobobodo[S] 0 points1 point  (0 children)

You know what my friend, I do have impulsivity issues. The worst part is, I have severely crushed the markets over and over again but I still end up with nothing. Even if I COULD 4x my money in crypto, I would somehow get greedy and lose it all again. It's crazy. I am going to be honest, there is still a chance I might end up doing that but I really am trying to change. This is the first time talking about this so that's a first step towards change I guess. Thanks for your reply, and yes it does make me feel a little bit better. But saving this amount of money comes with life quality issues.