I once was worth about $500K and am down to $900 liquid cash and $65K+ in loans plus taxes (i dont even wanna know how much lol).
I don't have a job and have a hard time working for others as I've always been entreprenuerial and never needed to, and it's hard to get used to working after getting used to bull run season.
I'm also not some kid, I'm 32 and moved back home with my parents because the bills from my loans got to be too much and my investments all tanked.
Yes, I made bad financial decisions by banking on an asset that only had unrealized paper gains and taking out personal loans and maxing credit cards to maximize my input into this thing that used to be up only/grew faster than any interest a loan cost, but now I'm left with my mess of putting it all on the line and I'm filing for bankruptcy.
I can't be the only idiot who lost this much money after being rich on paper, or am I?
Sometimes I think I am and I wonder how I could've been so "smart" yet so stupid...
Anyone in this situation?
Serious replies only I know I'll get roasted but be easy on a brother who already knows of his mistakes and ignored the #1 principle of "don't invest what you can't lose/only invest what you're comfortable losing".
I'm coping with meditation, gratitude journaling, thinking of the things I've done right, exercising, spending time with family. Formulating a plan and taking action to make the bag back of course, but doing this all for free. But man it really sucks when I look back at the highs I had and trying to rebuild it is so difficult... I have faith but this is hard I hope if someone else is in this situation they know they're not alone
EDIT: did not expect this to blow up.
To clarify some things: I never got a college degree and made a living through various business ventures and actually the majority of money and net worth I lost was because of my business going under , NOT crypto. I only posted this in the crypto sub because I know many took Ls. I made a similar post in the entreprenuer subreddit months ago but it got very little traction.
To be honest, I only lost about 10% of my net worth in crypto specifically, the rest was trying to save my failing business, which was a website I built from scratch that generated millions of ORGANIC pageviews with thousands of keywords in the top 10 results never bought any backlinks or even paid for ads and hundreds of thousands of dollars entirely outside of crypto so I am entitled to call myself an entrepreneur. I also already started a new business in the past few months that is turning a small profit of a few hundred dollars per month... I know that's peanuts but I made it work. I was not one of the lucky few that 100x'd some mooncoin. I sold that business at a loss in the beginning of this year and simply lost the last cash I had from my old cashflow machine in crypto.
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