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
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.
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.
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