There's no "possessive pronoun" or "indirect object pronoun" in your examples to begin with.
The construction you're alluding to doesn't exist.
The "my" in "it's ruining my life" is not a possessive pronoun, it's a possessive adjective.
The "me", in "ça me gâche la vie", is not an indirect object pronoun, it is a reflexive pronoun. It is from se gâcher, a reflexive verb.
The first mistake you made can easily be solved with some basic grammar study.
But the second mistake is one of the frequent problems for English speakers learning French. These reflexive forms found in Romanic languages like French either aren't frequently used or simply don't exist in English. You can say "I love myself" in English. However, you can't say "I sleep myself" in English, but you can in French, "je me couche". You can't say "I mistake myself" in English, but you can in French, "je me trompe". These are all reflexive forms that contain the reflexive pronoun and the reflexive verb, it's a grammatical form that does exist in English, but one that is much less frequently used compared to other languages.
However, the same basic rules in English regarding pronouns apply in French, an indirect object pronoun can only exist if there is an indirect object that it replaces.