Lost 80%of My Stock Which Was My Retirement Money...What Do I Do?

Don’t give up. Just hang in there and keep what you are doing and before long you can say that you used your life savings to buy penny stocks and lost every penny. You still have 20 grand left so don’t give up until you have lost that.

Always keep this in mind. Most everyone who tries to get rich quick, gets poor quick. Stocks can be a wonderful way to become very financially secure if you invest wisely and carefully. If it is any consolation Quora is full of people posting how can I convert 100 grand to a million in a year or two? Or I want to invest in penny stocks or trade stocks but how does the stock market work? Anyone who has to ask has no business trying to follow a get rich quick scheme.

1. Do not buy penny stocks unless you use a tiny portion of your investment as a gamble. The odds are better in Vegas.
2. Do not day trade stocks or do short term trading. You will lose your money fast.
3. Do not play with options, forex, bitcoin, gold, short selling and other high risk activities.

Start thinking of yourself as an investor. Put your money in stocks of well run companies that you understand what they do and believe they have a solid business that can compete over the long haul. Your money will grow over time to the point where you have no money concerns. They may be corrections but the market has always recovered. Over any long period of time money invested in stocks has grown at 9% a year. It won’t make you a millionaire tomorrow but if you keep investing you can get there.