How to deal with losing $117k in stock market?

[Fuperw84]

as a fellow pharmacist, I feel your pain brother. I am sure you are like the rest of us PharmDs and looking for an early retirement... particularly in retail pharmacy, I know burnout comes quick and hard. my .02 :

1) if you are in retail pharmacy, get your BCPS and try to transition into inpatient. the burnout is far less as it is much slower paced and less strenuous.

2) spend your free time reading bogleheads.org. it will teach you everything you need to know about investing. also buy all of john bogle's books and as others have said, jlcollinsnh.com is a fantastic resource.

put the past behind you. you got very fortunate to be one of the lucky few to make it into pharmacy school. so you got very unlucky with some stocks. it all washes out in the end. you win some, you lose some. use this as an opportunity to pick the right path going forward (in other words, index funds).

I took years and a lot of money lost but i'm finally understand it now. There's no magic formula to financial independence and escape retail hell as a pharmacist. You you have to prioritize. Work and save your hard earned money and pay down debts. That is the only way!

[Fuperw84]

This week has been difficult but I still have resisted all temptations to buy stocks. This is 24 straight days without stock trading. I unblocked CNBC again but watching a lot less. I have a strong urge to buy bitcoin and Tesla stock today but went on a 4 mile jog to kill the urge. It doesn't make things easier with me leaving for a new job and I just got a huge lump sum check for unused vacation of $17,000. Seeing that much money deposited into my checking account is major temptation but I'm determined to keep it in my bank account as emergency fund.

[boarder42]

This week has been difficult but I still have resisted all temptations to buy stocks. This is 24 straight days without stock trading. I unblocked CNBC again but watching a lot less. I have a strong urge to buy bitcoin and Tesla stock today but went on a 4 mile jog to kill the urge. It doesn't make things easier with me leaving for a new job and I just got a huge lump sum check for unused vacation of $17,000. Seeing that much money deposited into my checking account is major temptation but I'm determined to keep it in my bank account as emergency fund.

Put it in a fucking index fund Jesus. Then you're invested in everything. And you can just watch the broad market and not care.

[Full_Beard]

Put it in a fucking index fund Jesus. Then you're invested in everything. And you can just watch the broad market and not care.

Right, if you're fighting the urge to gamble on Tesla and Bitcoin, this is the best advice for you.

[pbkmaine]

Put it in a fucking index fund Jesus. Then you're invested in everything. And you can just watch the broad market and not care.

Right, if you're fighting the urge to gamble on Tesla and Bitcoin, this is the best advice for you.

And if you don’t want to die alone and broke, please seek help from an addiction counselor or a program like Gambler’s Anonymous.

[marty998]

This week has been difficult but I still have resisted all temptations to buy stocks. This is 24 straight days without stock trading. I unblocked CNBC again but watching a lot less. I have a strong urge to buy bitcoin and Tesla stock today but went on a 4 mile jog to kill the urge. It doesn't make things easier with me leaving for a new job and I just got a huge lump sum check for unused vacation of $17,000. Seeing that much money deposited into my checking account is major temptation but I'm determined to keep it in my bank account as emergency fund.

Ok look, congratulations on your willpower holding up, but there are two things here.
Bitcoin has no fundamental value.... just because it is down 70% in 9 months does not make it cheap.
Tesla is guided by the whims of a man who has not shown a lot of mental stability in recent weeks.

Am a little curious as to why you think they are good investments, as to me this shows it is obvious why you lost $117k in the first place.

But first, if this is your emergency fund, go put it in a time deposit.

[talltexan]

OP may not know this, but "time deposit" is australian speak for "certificate of deposit".

[BicycleB]

@Fuperw84, congrats on 24 days. Keep on being strong, you're doing exactly what you need to do.

[boarder42]

OP may not know this, but "time deposit" is australian speak for "certificate of deposit".

i didnt know that thanks for that tip.  its like we all speak a differnent language around here.

[Full_Beard]

just because [Bitcoin] is down 70% in 9 months does not make it cheap.

That's worth repeating. That was your crazy earlier strategy, i.e., buy stocks that are at their 52-week lows. That makes no sense, unless you're also looking at the company's fundamentals and have sound reasons to believe its under-valued or correctly valued but going to make a turnaround.

You can't possibly say either about Bitcoin or Tesla. That's stuff to buy with your 10% play money while your 90% sound money is doing work for you in an SP500 Index fund.

[smallstache]

Am a little curious as to why you think they are good investments, as to me this shows it is obvious why you lost $117k in the first place.

There is four pages of history in this thread that will satisfy your curiosity.

[theolympians]

Do you have a retirement account? 401k, 457, IRA etc? Like was posted above, invest in index funds!