Financial pain

Hi,

I made bad financial choices and lost all my retirement savings at age 69–trying to determine if anyone recovered from such a devastating experience? Is it too late to still enjoy life? I’m getting very depressed about the situation and would love to hear from other 70 year olds.

Thanks,
Abbie

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3 Responses to Financial pain

  1. Blog Mavens says:

    Abbie, I am sorry to hear about your devastating loss. I hope others will respond to you. I know there are success stories, there must be. Readers, please. This is an important use of our blog. Best, Ellen

  2. Lynne Spreen says:

    I put this post on my Facebook page, and my friend Judith who is a retired financial advisor said this: “If you are healthy- think about ways you can be employed- and start saving again. It’s possible. I know people who did this who were just a very few years younger than you. Good Luck.”
    If I get any more responses I will add them.

  3. Phyllis W. says:

    Abbie,
    ‘Sorry to read about your set back! Since you made bad choices, learn from them & Go forward! I also lost LOTS of retirement $ in the 90’s & am still trying to recover more of it. These are very different economic times, but I think if you focus on a plan as presented by Dave Ramsey or Suzi Ormond, this may help. I am retired, approaching the ’70s, but still live frugally & look for ways to stretch the buck! You may be able to sell some unnecessary items on ebay/Craigslist/yard sales to generate some cash. Put as much away as you can. Work on a budget. There are opportunities around for those who work hard…..this is still America. Good Luck! Hook up with a Senior Center….they may have programs to help, or other people with GREAT IDEAS FOR YOU.

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