Many has experienced financial losses and griefs but the last thing they want to hear at that moment of grief is: “it’s only money”.
Because it’s not just about the money...
It wasn’t losing my family business or even my family home... what affected me the most was what it did to my self-esteem and how that hurt on the inside, where no-one could see.
It's about Lifestyle: Losing the money that afforded you a lifestyle changes everything. Vacations, shopping, eating out, recreation and hobbies, buying gifts for others and the many other lovely activities and moments you share with family and friends may all take a hit after a huge financial loss.
It's about housing: when you can't afford to keep your house and you have to sell it in order to repay debts or you are struggling to pay your mortgage. Selling your luxurious house may seem like the last straw.
It's about shattered plans, dreams, and aspirations: The ideas working and retiring in a few years, the college savings with thoughts of your kids going to top colleges and universities, can all be shattered and go out the window now due to your having to dip into your savings sooner than you thought. Your situation will look nothing like what you pictured in your mind - all plans may have to be revised and you will have to start rebuilding your life - something you never imagined could happen to you.
It is about reputation and self-image: losing your life savings or the money that gave you self worth as a successful business's person or entrepreneur or family provider, may leave the word 'failure' on your lips.
It's about the emotions and grief: The emotional response to financial loss - financial grief - is real, painful, and it hurts. There can be confusion, anger, denial, shock, panic attack, withdrawal, embarrassment and many more.
Closing Thoughts
A financial loss such as an investment gone wrong can strike us hard and it can seem like life will never be the same again. However, looking at the bigger picture and taking the necessary steps one at a time to coping with a financial loss and rebuilding your financial status could be all you need to bounce back.
Financial loss is not just about the money. Though, it probably wouldn’t be so devastating if it were.
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i understand the frustration about hearing that, but i would say those who say that are not delivering the message in the correct way.
the underlying message is that despite losing money, you still have good health, freedom, and opportunity.
i know some people who earn a lot more than i do, but they would trade that money for good health if there were able to.
having said that, if you were impacted by financial losses, i do empathize with you though. it can hurt a lot because of the effort and sacrifices required to earn the money.