Yes, all.. I was having ~ 300k around this time last year. Bought a penny stock in Nov’21 and sold for 40% loss in Jan’22 and bought another sh*r stock and sold for ~50% loss and then bought another 1 which got delisted and went to bankruptcy recently.. now i literally have not even 2k but 10k credit card loans.. living pay check to pay check and paying rent using CC… not sure will be alive if I loose job also.. have wife n 2 kids.. not asking for suggestions, but welcome…
You probably shouldn’t have gambled it on stocks. Doesn’t seem like you knew what you were doing. Too late now. Just salvage what you can and put it in index funds instead so at least you have a chance of seeing gains in the future.
Regular people can’t outperform indexes. Exception if you have some insider information but it’s illegal. All assets will drop for sure in their price and only some will grow. So diversify risk and buy different assets like stocks, bonds, real estate, gold… but all this assets will also drop some time(likely soon). And if you keep cash you will also lose because of inflation.
I Bonds
Either your research on these 3 stocks went wrong, or you didn't research in the first place, or you were unlucky. Ensure you don't repeat the former two next time.
Ummm. I think the better way is to not gamble all your money on ANY 3 stocks. Diversification much?
My experience: Sat 1 year to understand stock market. Started investing post this 1 year. Have been into stocks since then, say 2017. Have been putting big money (read all savings) post Covid though. Lessons I learned: # look out for good management # look out for cheap stock: pe<=20, pb<=1, mcap÷sales<=1, mcap<reserves # look out for companies that have announced buy backs, debt reduction, growth, etc. All should be in significant amounts. # buy cyclical stocks at bottoms in downtrends # (my favourite) Look out for bulk deals and public share holding. Copy cat any HNI stocks from them, ensuring the HNI bought the stock in significant amount (read INR 50cr+) # control my emotion: while buying, selling and maintaining. Don't think about stocks during sleep. Don't get over excited. # Look out for stocks that can be 1.5× in a quarter/half annum or 2x in 1 year. # Diversify into max 10 stocks. More than that I lose focus. Less than 5, I risk loosing more.
Buy and hold good etfs my dude jeez declare bk and start over who cares
If you want to gamble money, you should set aside any amount that you are ok losing and only use that for this stuff. You are irresponsible being a parent and wasting all your money like this
It's okay man, try researching before investing. Take some courses to understand market fundamental and tread slowly in the market. Penny stocks are for the people who have most experience or have some insider. Then also they are a big gamble. It's okay don't be disheartened, better research next time investing money.
Penny stocks are for sleazy shit and cheap degenerate day traders who don’t have the $ or sense to play in bigger pools. The SEC has a damn page about penny stocks, and they’re generally useless. Hard to sympathize for otherwise reasonably intelligent people who repeatedly gamble with $ they can’t afford to lose, at the track, casino, or OTC market. Feel bad for the dude but man, how many beatings dude had to take to learn a really easy lesson
This isn't a problem with investing, you have a gambling addiction. Get help before you try to right the ship and invest again.
My dad did this for 30+ years! Died broke as a compulsive gambler, despite making what would be millions of dollars today (inflation-adjusted).
Sorry ! Hate to be in this situation. Don’t worry. Do more research next time and invest in good companies when the market is bottom or DCA. Slowly you will gain some.
Walmart’s always hiring
Seems like there should be room