Big Cliff Posted March 6, 2011 Report Posted March 6, 2011 My mother thought she had enough, according to all the bankers and advisors. Then came the collapse in I.T. stocks and she lost 20%. Then they changed the rules and started taxing "safe funds" and she lost 10% more. The recession, so far, has cost her close to 15% of her fund values. One heck of a beating in just over 10 years. So much for being comfortable, eh? Not only did she loose principal but the return on investment that she would have counted on having as income for those 10 years. Really tough on someone that doesn't have the opportumity to re build their nest egg.
TennesseeGuy Posted March 6, 2011 Report Posted March 6, 2011 The stock market is having a great run. We don't suffer a loss unless we sell when it's down. We have the power to make ourselves happy.
irishfield Posted March 6, 2011 Report Posted March 6, 2011 Exactly Connie.. I finally broke even just last night... after the 07/08 collapse. I was down 38% from what I had in Oct/07. You touch it you admit defeat.
dave524 Posted March 6, 2011 Report Posted March 6, 2011 The stock market is having a great run. We don't suffer a loss unless we sell when it's down. We have the power to make ourselves happy. Exactly X2, retired in May 08 with the TSX hoovering near 15000, took a bit of a beating over the summer and then the bottom really fell out of it over the years have learned to hang in there, when I figured the rebound had started changed up the portfolio of mutuals from conservative to more equiity based, today, ahead of what GIC's would have paid if I'd dumped my money in them at retirement. Banks love GIC's give you 1-2 % and loan it out at 5+%.
Daplumma Posted March 6, 2011 Report Posted March 6, 2011 Sorry DSN, your rights?? What about the rights of the people you owned money to?? Sad you haven't the dignity to worry about someone else feeding their family, just as long as you can clear your debt and carry on. And Steve.. YOU control your money. Don't lose sight of that and you'll be just fine! I wasn't gonna be the one who said it Wayne.I have been on the other side of that equation.Just cause someone else loses their income it suddenly becomes my problem.Then when they land on their feet,I am not made whole.Seems unfair to me that everyone should have a right to be forgiven all of their debts and start over again no matter who else get screwed in the process.You have to remember that just because someone has a business it does not mean they are rich or the enemy.They are not a faceless organization without family or bills of their own.There used to be a stigma that came with going bankrupt and for good reason.Guess those days are long gone. Joe
irishfield Posted March 6, 2011 Report Posted March 6, 2011 Long gone Joe! There appears to be no shame in it anymore, it's a way of life now. That and I'm in a pretty pissy mood with another possible cancer case in the family..
Daplumma Posted March 6, 2011 Report Posted March 6, 2011 Long gone Joe! There appears to be no shame in it anymore, it's a way of life now. That and I'm in a pretty pissy mood with another possible cancer case in the family.. Sorry to hear that Wayne.I hope for the best for you.I was in the ER at 3:30 this AM so I may be a bit pissy my self...That and Vicodin and a computer may not be the best idea. Joe
Old Man Posted March 6, 2011 Report Posted March 6, 2011 Some rules of investing: 1) Start early, time is your friend. Compounding is wonderful. 2) Invest on a regular basis. 3) Spread it around. Get a nice mix of equity based and debt based investments. 4) Understand what you are investing in and the risks. Understand yourself and the risk level you're comfortable with. 5) Educate yourself. Don't rely on a "investment advisor" (basically they are salesmen) 6) Invest for the long term. Don't jerk your money from here to there trying to catch the next big wave. Review and tweak your portfolio once or twice a year. 7) Know and understand the tax implications of each investment and plan for them.
irishfield Posted March 6, 2011 Report Posted March 6, 2011 ...That and Vicodin and a computer may not be the best idea. Joe I'll send ya a PM.
TennesseeGuy Posted March 6, 2011 Report Posted March 6, 2011 Old Man, tell me more about how I can make rule #1 work for me. I'm stumped.
irishfield Posted March 6, 2011 Report Posted March 6, 2011 Come'on Connie... you got at least another 30 years in ya!
bigugli Posted March 6, 2011 Report Posted March 6, 2011 That and I'm in a pretty pissy mood with another possible cancer case in the family.. And I think my family's luck sucks. When are you going to finally catch a good break
irishfield Posted March 6, 2011 Report Posted March 6, 2011 I'm hoping when the Dr calls and tells us they were wrong Bruce!
Old Man Posted March 6, 2011 Report Posted March 6, 2011 Old Man, tell me more about how I can make rule #1 work for me. I'm stumped. Sorry. I'm just assuming that everyone one on this forum isn't old like myself.
Fish Farmer Posted March 6, 2011 Report Posted March 6, 2011 There's a Mayday rally in Ottawa on May 1st!!! We need to take control of our resources and companies!!We pay more and more for things but our pay doesn't go up along with it. Meanwhile the CEO,s and their buddies move production offshore to save a few bucks and ensure their bonuses. It really pisses me off when people say it won't affect them because it hurts all of us... It's great if you can absorb the extra costs but I'm at the point where I can't afford the gas to go fishing..... I'm with you Pic's, I'll be staying close to home fishing now. I used to go to Simcoe every week, not any more. Thing's sure look like were going to be in trouble in the near future. I think it will be memories of the past when it comes to fishing siting looking at the boat parked in the back yard.
pics Posted March 6, 2011 Report Posted March 6, 2011 I'm with you Pic's, I'll be staying close to home fishing now. I used to go to Simcoe every week, not any more. Thing's sure look like were going to be in trouble in the near future. I think it will be memories of the past when it comes to fishing siting looking at the boat parked in the back yard. Another thing that really pisses me off is the issue with the pollutants in the lake down the road...a five minute drive.. I really hope that the MOE comes down hard on the ones who did it.It's obvious where it came from!! The fish are still safe to eat four times a month but I limit my families exposure to 2 meals or less now.....
Snidley Posted March 6, 2011 Report Posted March 6, 2011 I still have my mom to look after but once she is gone (she's 96 now)I'm heading to Uraguay. Cost of living is a fraction of what it is here and they encourage foreign business people with lots of incentives. Fishing and hunting are great as well. They want us!!!and here, they use us. I predict that Canada and, even moreso, the USA will devolve into anarchy and violence as the monetary buffer that has kept the idiots that abound in both societies in line over the years, evaporates. It is happening in many overseas locations today and it is coming here...soon. Your concerns about the costs of going fishing are going to pale in comparison to the threats posed by all the tattoed, pierced, uneducated deperadoes that will be running wild seeking victims while the authorities protect only themselves. Again somthing that is already happening here and the USA but will ramp up as the welfare $$ dry up..
Toronto_Angler Posted March 6, 2011 Report Posted March 6, 2011 I still have my mom to look after but once she is gone (she's 96 now)I'm heading to Uraguay. Cost of living is a fraction of what it is here and they encourage foreign business people with lots of incentives. Fishing and hunting are great as well. They want us!!!and here, they use us. I predict that Canada and, even moreso, the USA will devolve into anarchy and violence as the monetary buffer that has kept the idiots that abound in both societies in line over the years, evaporates. It is happening in many overseas locations today and it is coming here...soon. Your concerns about the costs of going fishing are going to pale in comparison to the threats posed by all the tattoed, pierced, uneducated deperadoes that will be running wild seeking victims while the authorities protect only themselves. Again somthing that is already happening here and the USA but will ramp up as the welfare $$ dry up.. Relax
limeyangler Posted March 6, 2011 Report Posted March 6, 2011 To have a lot of money must be a wonderful thing but when is enough, enough? Most of the people I know that have a lot of money (by my standards) are always worried about keeping what they have and engrosed in finding ways to get more. No matter how much they have it never seems to be enough. Money is only good as long as it lasts. Memories are forever. Me, I'm all for memories because I'll never have a lot of money LOL. Lets hope your memory holds out
Roy Posted March 6, 2011 Report Posted March 6, 2011 Lets hope your memory holds out Yeah Simon. It could be a double whammy. Lose your memory and forget where all your money is. I have no problem with money. Y'know that little pocket watch place we have in our jeans? I can put everything I have in there in coin format! Damn! Chris, Dan, TJ, anybody...look after the board will ya? I just got a request from the J woman. She wants a Chinese fondue for supper....I have no problem with that but she wants a butternut squash pancake with it....What the hell? She can't possibly be pregnant!
Big Cliff Posted March 6, 2011 Report Posted March 6, 2011 Lets hope your memory holds out If it doesn't, will I know it?
misfish Posted March 6, 2011 Report Posted March 6, 2011 And good morning to you too, Steve! I've got to tell you that I'm way past worrying about that stuff anymore. If something bothers me and I know there's nothing I can do about it, I move on. Nice to see you online. It's been a while. I hope your health is good. YUP
Billy Bob Posted March 6, 2011 Report Posted March 6, 2011 the threats posed by all the tattoed, pierced, uneducated deperadoes that will be running wild seeking victims while the authorities protect only themselves. Again somthing that is already happening here and the USA but will ramp up as the welfare $$ dry up.. I can't speak for my Canadian cousins but here in the USA we have the second amendment that gives me the right to .....with a current ammo supply of 3k rounds I will be OK for a little while.... BTW if you personally know of any of these desperadoes you might want to warn them that there are a LOT more Rednecks like me then you realized here....
ChrisK Posted March 6, 2011 Report Posted March 6, 2011 Yeah Simon. It could be a double whammy. Lose your memory and forget where all your money is. I have no problem with money. Y'know that little pocket watch place we have in our jeans? I can put everything I have in there in coin format! Damn! Chris, Dan, TJ, anybody...look after the board will ya? I just got a request from the J woman. She wants a Chinese fondue for supper....I have no problem with that but she wants a butternut squash pancake with it....What the hell? She can't possibly be pregnant! Go make her some pancakes Roy
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