My Financial Comeback

[John Doe Jr]

Many people have successfully made their way back to financial stability (and sometimes on to substantial wealth) after experiencing financial disaster. Others have not been so fortunate or are struggling to get back to where they once were.

We've discussed elsewhere how to become financially independent, but we haven't talked about the monumental stuff-ups, dumb mistakes and sheer bad luck that have lost us money and can make it seem impossible for us ever to get back to first base again.

If you've had this kind of experience, why not share what happened, how your coped (or are trying to cope now) and how things have panned out since you hit bottom or painfully skinned your knees?

Many people are very curious (and even anxious) to read about these kinds of things, perhaps because they've been there themselves or are going through a similar experience now.

You don't have to have a dramatic tale of woe to contribute something useful. Nor do you need to identify a whole-of-life trauma. A single investment gone sour or a temporary job loss could also have some intriguing and helpful elements to it.

But owning up to your mistakes - as well as to your successes - will make this exercise that much more worthwhile - and possibly even cathartic.

Points of particular interest:

1. What went wrong and why (and how big was the problem)

2. How your own mistakes caused the problem or contributed to it

3. The point at which you realised things had stuffed up badly

4. How you handled that realisation emotionally

5. When things started to turn around, and why

6. What you had to do to keep the recovery underway

7. What you learned or are learning from the experience