Who Controls All Our Money . . . ? (NF Rant)

[misfish]

What the hell? She can't possibly be pregnant!

 

 

Like the commercial,,,,,,,,,,,,JUST AMGINE.

[bigbuck]

Having been a Financial Advisor and Insurance Advisor for the past 14 years having seen Asian flu, the collapse of LTC, the Tech bubble and resultant Rubble, 9/11, the banking system locking up in '07 and the subsequent implosion in '08, I can still say that had you invested CONSERVATIVELY in Canada, you'd be doing fine. The problem with most people is that they jump into the market when everyone is making money and sell when they lose. I have clients who make A LOT of money who stress out about how they can make their RRSP contribution, never mind a TFSA contribution. Too many people are living beyond their means using credit cards and suck the equity out of their houses thru lines of credit. Stick to living off 90% of what you make and invest 10% for the long term. YOU WILL retire comfortably if you start that when you are young. Remember in the market, "Pigs get slaughtered". If you are greedy, you'll get killed sooner or later. GICs are good for keeping a few grand around for incidental expenses and short term savings.

Times are a lot different from when our parents and grandparents grew up with very little. There are too many ways out there to suck cash out of your pocket, cell phones, internet access, digital/satellite HD tv, leasing (as opposed to buying expensive cars), big houses, etc...etc....etc...

Do you NEED all of this stuff?? I still have 3 tube tvs in the house, the newest is 8years old, the other two are 17 years old, basic cable, a basic high speed internet connection, cheap cell phone deal for my wife 9(mine is expensive but I need it for work), decent home with a very small mortgage and 2 8 year old vehicles on the driveway. We eat very well but that is because I shop for specials.

I deal with these issues on a daily basis and most people don't get it until I get them to start journalling their daily expenses to see where their money leaks out. $10/day at Starbucks is ridiculous, get a couple of medium Timmies for $3 or drink the free coffee at the office or here is a novel idea, bring a thermos from home (I do when I'm on the road seeing clients). No shame in brownbagging folks!!! Bring a lunch from home whether it's leftovers or a sandwich. TREAT yourself to a lunch out ONCE a week, not every single day.

I can go on and on and on.

Conclusion: Be smart with what you earn, live within your means and you will be fine.

Edited March 7, 2011 by bigbuck

[bigugli]

Hey Bigbuck, you said the pigs/greedy, get slaughtered. You are quite right. In my case, the pigs were the investment advisors. I fed them my savings and the "conservative" funds they put them in got slaughtered. The one pension fund has not paid out to a single pensioner in 3 years. Seems it had lost 90% of its previous value. It might start paying off after half of the contributors have died. I'll trust the mob before I ever trust a banker or financial advisor again.

[bigbuck]

Bigugli, unfortunately, some Pension Funds have failed to do what they were supposed to do. I can't comment on what happened in your situation without knowing more. Making a blanket statement that you would trust the mob over bankers or financial advisors again is mistaken. The mob loses money in the market.

[Jer]

Making a blanket statement that you would trust the mob over bankers or financial advisors again is mistaken. The mob loses money in the market.

 

 

...and their pension plan usually involves cement blocks (either as shoes or as walls).

[spoon]

Watch this movie, its really good.

 

"Inside Job" 2010

[splashhopper]

Hey Bigbuck, you said the pigs/greedy, get slaughtered. You are quite right. In my case, the pigs were the investment advisors. I fed them my savings and the "conservative" funds they put them in got slaughtered. The one pension fund has not paid out to a single pensioner in 3 years. Seems it had lost 90% of its previous value. It might start paying off after half of the contributors have died. I'll trust the mob before I ever trust a banker or financial advisor again.

 

U can "invest" in a well known beauty retail chain in Ontario if u want to "invest" in the mob. I know from personal experience.

[TennesseeGuy]

Life if good when we spend less than we make.

[Roy]

Life if good when we spend less than we make.

 

Well said, Connie. And life is REALLY good when you control your own money.

[Billy Bob]

...and their pension plan usually involves cement blocks (either as shoes or as walls).

 

But at least you're close to the fish....

[BUSTER]

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....

 

I'll be adopting the American second amendment quickly if needed. I'm not stocked with 3k ammo but maybe I should start adding more to the safe.

[bigugli]

Making a blanket statement that you would trust the mob over bankers or financial advisors again is mistaken. The mob loses money in the market.

 

A mobster is a crook living oustide the law. I know what I'm dealing with. Bankers are crooks hiding behind the law and the politicians, and get to change the rules whenever they please.

[camillj]

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..

Noo Wayne ... jeeze bud ... my heart is with ya ! Dare I ask who ?

[12footspringbok]

A mobster is a crook living oustide the law. I know what I'm dealing with. Bankers are crooks hiding behind the law and the politicians, and get to change the rules whenever they please.

 

 

Well said!