The Grief of Financial Loss: How To Deal With It
We usually look at grief as if it’s only associated with death, but the emotional and physical response to losing your life savings can be just as painful as losing someone dear to you. Psychologists confirm: the grieving process can be triggered by any kind of monumental life disruption or change.
Investors work hard for their money and save their entire lives. Many of them skip purchasing the beach house they dreamed of, or they abstain from vacations to Hawaii (even though the money is there) just so they can stay true to their savings plan.
After so much sacrifice, when your life savings suddenly disappears, it can be terrifying and traumatic on a deeply emotional level. Financial loss can destroy the very foundation of our sense of worldly safety and security. Victims might question if all those years of hard work were wasted. They might be frightened about paying for their next grocery bill.
Marital problems and family stress commonly develop as a result of financial strain. Racing thoughts, headache, anxiety, a wide variety of health problems, and the feeling of being robbed with nothing you can do about it are the norm.
Unless you’ve already experienced this, you may not fully understand what’s going on or even realize that your symptoms are linked to your financial loss. It can be so similar the grieving process of losing a loved one that victims often wonder if they’re morally justified to experience such feelings.
Simply knowing this, and knowing that your reaction is both normal and will dissipate with time is the most valuable step you can take on the road to emotional recovery.
This Is Not Your Fault
Fraud victims tend to blame themselves for not being ‘smart enough’ to prevent the fraud or financial theft from happening. You have to remember: The most dishonest stockbrokers and brokerage firms make a living off their lies and schemes…
American consumers shouldn’t have to be lie detectors. They shouldn’t have to be sophisticated and savvy investors. They shouldn’t have to be distrustful of their investment advisor. Consumers should be able to deal confidently with their stockbroker, knowing if they’re defrauded, the party responsible will be held accountable by the law.
Fortunately, the law is on your side. If you’ve lost money because of dishonest investment practices, you can take legal action to try and get it back, often at no upfront cost.
What You Can Do Right Now
The best way for dealing with financial loss may be different for different people, so finding your own way with it is essential. However, it’s also essential to realize you’ve been the victim of a fraudulent scheme or negligence and as horrible as the results have been, you have to stop blaming yourself for what isn’t your fault.
Also, it’s very important to take action and do something – even if it’s just calling a friend to talk about your situation. Taking some form of action is the best way to regain your personal power and get back in control of your life again.
Here are some very empowering mindset shifts and several things that fraud victims can do right now:
- Know you’re not alone and this is not your fault: Fraudulent stockbrokers and brokerage firms have seductive sales techniques which they use to lure countless people into the same trap again and again. If you were a victim, it’s likely that thousands of people have suffered from the very same scheme — and there many kinds of broker negligence and stock fraud schemes that exist.
- Talk to your friends and family: Losing money can be embarrassing, but keeping all your emotions inside can be physically and psychologically destructive. It can multiply the stress, worsen the worry, and make shame and other symptoms worse. It’s also important to let people know about the fraud you experienced, so they can avoid getting hurt by it themselves.
- Do something you enjoy: Visit family and grandchildren, continue with your regular daily routines as best that you can and if this isn’t a possibility, find something new and less expensive you can enjoy with your time. Take time out to breathe, relax and get back in touch with your inner peace and confidence.
- Visit your doctor: If you’ve developed headaches, high blood pressure or other physical symptoms during the time following your investment losses, be sure to see your doctor immediately.
- Make an appointment with a therapist: The value of counseling when dealing with any kind of loss or change in life circumstances cannot be underestimated.
- Seek help from a stock fraud attorney: Contacting a stock fraud attorney can give you a sense of confidence and empowerment. Even if you discover that you don’t have a case to get your money back, knowing that you’ve done everything in your power to get your money back can be immensely relieving. Not only will it help you now, but in the future, you won’t have to wonder whether or not you did everything you could.
Contact Us
If you have been injured by investor fraud, you have been wronged and you deserve justice and we can help you in dealing with financial loss.
For a free and totally confidential consultation, contact the Consumer Investor Resource Center today.