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I lost everything during the 2008 crash. I was financially and homeless. Why am I still worried?


Dear Quantin,

I am worried about my financial future. I lost everything during the 200 stock-market crash, and I was financially and homeless, and had no car for almost seven years. I have spent the last decade recovering.

I have উচ্চ 250,000 in a high yield savings account, $ 150,000 in stock and 58 with a chariot IRA. I have $ 35,000 in an emergency fund. I have a 1,200 mortgage a month, while my home is currently worth about ,000 350,000.

My fixed monthly income is $ 5,000, and I earn $ 75,000 to ,000 150,000 a year. I have-2,000 in credit-card debit, $ 25,000 for two cars. I don’t have 1 1 million or more according to my plan. Why am I still worried – and should I be?

Still reeling

You can email The Monist with any financial and ethical questions about coronavirus at qfottrell@marketwatch.com and follow Quentin Futrell Twitter.

Dear Rilling,

You will not be human unless you are hurt by your past experience.

You’ve been on your feet for the last 14 years, mentally and financially. You have shown the world and yourself that you have what you need to move forward. You came a long way at that time. I want to tell you that it is okay to enjoy the life you have now.

If you stop worrying and don’t suffer anymore, that doesn’t mean the same thing will happen again. You have built a deep, solid foundation. You have the money that millions of Americans want to get and you have built a financial life that you can be proud of.

Looks like you may need a third party – a financial advisor or financial therapist – to show you on paper that you can live your way for many years. You have done what you need to do to regain control of your life, now let go of that fear.

As my colleague Leslie Albrecht writes: “Although it has been in various forms since the 1990s, financial therapy is now more standardized and ready to become more prevalent. So far, the profession has been loosely defined and anyone can call themselves a financial therapist.

“The field includes a variety of professionals – from psychotherapists to marriage counselors to social workers to certified financial planners – all trying to help clients understand the emotional basis of their behavior about money,” he wrote.

Trauma and uncertainty

The last 18 months have been traumatic, and have had an impact on people’s mental health. Some people have lost their jobs, fought Kovid-1t, and lived through a lot of uncertainty. The market – made up of people like you and me – doesn’t like uncertainty. But they / we went through it.

I decided at the beginning of the epidemic that I would not think of anything beyond my control. I can make wise decisions about my health and situation, but what happens if I try to control is that I am playing the role of playing god. And I am not God.

Keep saving, diversify your investments and try to pay off your credit card debt and car loans-you’ll feel better when you do. The process of achieving a worthy financial goal instead of a blank canvas of what might happen in the future will give you something harder to focus on.

It can also help you get a mantra when you wake up in the morning and go to bed at night. “Thank you, Universe, for putting a roof over my head and money in the bank and helping me bring security back into my life. I have what I need today. Call it a lot of platitude or the ability to express gratitude.

But teach yourself to focus on what you have rather than what you don’t have, and what has happened since 2008 is no worse than that struggle right after the crash. Your letter is expressing that fear – because you are not alone – it is a good first step.

By emailing your questions, you agree to publish them anonymously on Marketwatch. By submitting your story to Dow Jones & Company, the publisher of MarketWatch, you understand and agree that we may use your story or its version in all media and platforms through third parties.

See Moneyist Personal Facebook Group, where we are looking for answers to the most difficult money problems in life. Readers write to me with all kinds of hesitations. Post your questions, tell me what you want to know more about, or consider the latest semantic columns.

The semantist is sad that he cannot answer the question individually.

More from Quentin Fottrell:

‘I just don’t trust my sister’: How can I give money to my nieces without their mother’s access?
We are getting married and have a baby on the way. My wife offered to pay me $ 10,000 student debt and $ 7,500 car
I have three children. I claimed my house to my most responsible son. Now he has blocked my call
My cousin died, Mess left home. Her landlord wants me to repaint and replace the carpet. What should we do?





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