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Old 09-20-2011, 06:04 PM
 
Location: Las Vegas
13,884 posts, read 25,311,688 times
Reputation: 26356

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Quote:
Originally Posted by nicet4 View Post
Tens of thousands of people had their life savings and retirement dreams pinned on WorldCom, Enron and Bernie Madoff.

Like you they thought they were smarter than most and certainly more sophisticated. I am sure many who had invested at one time scoffed at social security, many wishing they could opt out saving thousands in taxes for a program meant for 'the little people'.

Nothing is sure in this life and that fantastic retirement fund you seem to be gloating over can turn to pig mud in the blink of an eye.
Let's not forget about real estate!

Is there anyone here who didn't lose a lot of money?

 
Old 09-20-2011, 06:06 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
People makes mistakes and that can be corrected.
Yes, I do have lot to learn but I do not want to make STUPID mistakes the people who listened to Fidelity. I like Fidelity's advice overall but that does not mean I will use it. I do my own research and educate myself from different sources.

Paying someone to manage your finances is not a good way to go. They DO NOT care about you! They are only after their paychecks.

The best financial advisor is YOU! I love Finance and its my hobby.

Always have a Plan B if A fails. The point is to get more things working for you then not working.

Sure it can change in heartbeat if you don't know what you are doing which means going to Vegas and gambling your money.


You can control a lot of stuff in your life especially in USA. I control my own finances.

I know for sure that I will NOT have a child and help me God. I do not plan too. Do you know how much they cost to raise one and send one to college? I have done a cost-based analysis on this.

Layoffs and lose of jobs happen and thats understable especially in this Economy. Always have Emergency fund and 6+ month of rainy day fund.

Terrible car accidents happen too so make you have proper insurance to cover your back.

Make sure you are covered IF there is a natural disaster in your home or just don't live there.

Proper planning is very important.

Obamacare does not have a lifetime cap.

I am aware of illnesses. I am also fighting illnesses. People just don't see in in real life. I take Rx's too.

How come there are millions of successful people in USA? More then any other country on the planet.

God forbid, I get terminally ill next month or be on a serious car accident, that would be a catastrophe for me then I better make sure I am covered financially for this. What good is money when you are not in good health?

I could care less if I lost my house in a natural diaster. Human life is more important. You can always buy a new house but cannot replace a human life.












Quote:
Originally Posted by anifani821 View Post
This is not meant to offend you, TexasUser,

cause it is refreshing to know that someone young thinks he/she has figured things out and is determined not to make the "mistakes" others have made . . . but really - you have a lot to learn about how life really works. There are very few things that end up working on in life the way we plan them - good and bad. All the planning in the world can change in a heartbeat, and learning this is part of a maturing process.

You are never gonna be able to control everything that happens in your life. You think you can now. You think you won't have a child you didn't plan to have, or make a bad investment, or lose your job, or have a terrible car accident, or a hurricane that floods your house and your insurance won't pay for, or be married to someone w/ a terminal disease and insurance that has a lifetime cap on it so you can't afford to provide him/her the care they need . . . you think these things only happen to others, or to the ignorant, or the naive, or the foolish.

But that is not how life works. Plan, yes . . . but in the end, planning can only take us so far. Even contingency planning can only take us so far.

As I believe most of the posters here who are over 65 will agree . . . the things that throw us most for a loop are not the ones we planned for - they are the random incidences that occur that we COULD NOT FORESEE - those things we couldn't plan for . . . like having a child with a rare form of cancer - and depleting all your resources to pay for experimental treatment.

When bad things happen to YOU, personally, it won't mean very much when someone else comes along and says . . . "I am sorry you lost your house in that fire, but it really is your own fault you didn't figure out you should have changed the terms on your Homeowners insurance policy."

Really.
 
Old 09-20-2011, 06:18 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Some cars? WOW! How many? A House is not always a good investment but thats whole another topic.

Did they buy too much house?

Did we have 2 straight quarters of lower growth? If yes, then we are. Numbers will tell soon. Even if we are then so what? We can do what we can to make our lives better.

I am NOT blaming anymore. I will do what I can do with my controls. Gov't can do whatever they want.


I have been on the unemployment route so I know how it is.




Quote:
Originally Posted by anifani821 View Post
Obviously they lived below their means! I said they paid cash for nearly everything they have ever bought in their lives, except some cars along the way and a house! I clearly stated they paid cash for their last car!

You are out in space now, fellah. We are in a deep recession. Maybe you don't feel you are suffering, but the millions of folks out of work will beg to differ.

I don't care who you choose to "blame" - unless you have the power to offer a solution for us all, lol
 
Old 09-20-2011, 06:22 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Quote:
Originally Posted by Curmudgeon View Post
For Pete's sake, knock off the patronizing, multiple, incendiary and demeaning posts. Most here on a retirement board have raised children older than you and are not interested in your theory-laden/lacking-in-life-experience, judgmental diatribes. Too much wasted band width! I'm sure by now we're all suitably impressed.

This place needs a Presumptuous Youth Board!
There are retired folks in their 30's on this board.
 
Old 09-20-2011, 06:29 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Quote:
Originally Posted by js1mom View Post
Hey, Texas User--- have you thought of running for office? You seem to have all of the answers (in theory...), just like most politicians.
No, thanks. I love my job and like what I do for a living.
Obama is going to win easily. YES WE CAN!
 
Old 09-20-2011, 06:32 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Quote:
Originally Posted by js1mom View Post
Hey, Texas User--- have you thought of running for office? You seem to have all of the answers (in theory...), just like most politicians.
Anyone can become a politician now if you have lot of money. No political background required lol
 
Old 09-20-2011, 06:34 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Quote:
Originally Posted by Curmudgeon View Post
YAWN! Wake me when you've tired of impressing yourself. Should be a long sleep.
I was just being honest. You do know that most people in USA have their assets in real estate and the stock market right?
 
Old 09-20-2011, 06:38 PM
 
12,671 posts, read 21,052,348 times
Reputation: 2625
Quote:
Originally Posted by yellowsnow View Post
Let's not forget about real estate!

Is there anyone here who didn't lose a lot of money?
You only lose money when you sell the security on a loss.

If you had patience in the 2008 crash and kept buying into it, which means Dollar Cost Average then you have a lot more money now compare to if the market did not crash in 2008.

Buy low, sell high.
 
Old 09-20-2011, 06:57 PM
 
Location: Los Angeles area
14,018 posts, read 17,729,443 times
Reputation: 32304
Quote:
Originally Posted by Curmudgeon View Post
TRANSLATION (with thanks to Charles Dickens):

First Collector: At this festive time of year, Mr. Scrooge, it is more than usually desirable that we should make some slight provision for the poor and destitute.
Ebenezer: Are there no prisons?
First Collector: Plenty of prisons.
Ebenezer: And the union workhouses - are they still in operation?
First Collector: They are. I wish I could say they were not.
Ebenezer: Oh, from what you said at first I was afraid that something had happened to stop them in their useful course. I'm very glad to hear it.
First Collector: I don't think you quite understand us, sir. A few of us are endeavoring to buy the poor some meat and drink, and means of warmth.
Ebenezer: Why?
First Collector: Because it is at Christmastime that want is most keenly felt, and abundance rejoices. Now what can I put you down for?
Ebenezer: Huh! Nothing!
Second Collector: You wish to be anonymous?
Ebenezer: [firmly, but calmly] I wish to be left alone. Since you ask me what I wish sir, that is my answer. I help to support the establishments I have named; those who are badly off must go there.
First Collector: Many can't go there.
Second Collector: And some would rather die.
Ebeneezer: If they would rather die, they had better do it, and decrease the surplus population.
Very clever rhetorically, but a poor translation of my post, which was a specific answer to a poster who had asked what difference it makes how someone got where they are. For a more complete context of what I actually think, please re-read my post #13 on page 2 of this thread. (Not that I expect you to be interested in what I actually think, but just in case).
 
Old 09-20-2011, 07:32 PM
 
Location: SW MO
23,605 posts, read 31,471,910 times
Reputation: 29071
Quote:
Originally Posted by Escort Rider View Post
Very clever rhetorically, but a poor translation of my post, which was a specific answer to a poster who had asked what difference it makes how someone got where they are. For a more complete context of what I actually think, please re-read my post #13 on page 2 of this thread. (Not that I expect you to be interested in what I actually think, but just in case).
Post #13 was fine. And I have all the compassion of Attila the Hun when it comes to criminals. But addicts, whether of drugs or alcohol have an illness and I'm not comfortable with just throwing them away. Unfortunately, lack of treatment and appropriate facilities inevitably leads to the criminalization of the mentally ill and others. It's a cycle that needs to be broken and not by neglect and disregard. That was my point, however clumsily made.

Surprise! I was interested.
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