Lost money?

[Fishindude77]

I think savers are focused on a plan, a goal, the future. For most of us, that is retirement.

True for some, but I also know a few that have been life long savers to the point that they don't really enjoy using their money as much as they enjoy the security of having it stashed away.

[rennigade]

True for some, but I also know a few that have been life long savers to the point that they don't really enjoy using their money as much as they enjoy the security of having it stashed away.

Is there anything wrong with that though? If thats what makes those kind of people happy...whats the issue?

Now if those people inconvenience their family or others because of not wanting to spend money thats a different problem in itself.

[Fishindude77]

No, nothing wrong with that.

[clatoden99]

2000 lost about 40% in 401K
2008 lost about 45% in 401K
personal brokerage -35% in 2008
Property has been different, I rented until 2009; I used to walk with my wife in this really nice neighborhood and we looked at a couple of houses in 2007 but they were unaffordable for us at the time 300K plus, so we just waited. two years later one of the houses was put in the market again, this time at 165K. We closed within a month. I remember pre-2008 everyone was a realtor, everyone was getting hummers, jetskies, going to vacations 3x every year, flipping the ****tiest properties within 1-2 months; meanwhile my wife and I just sat on the sidelines, we saved cash enough for a big down payment, pay down our student loans and finished our degrees. In other words while everyone else was taking massive home equity loans we were camping, going on budget vacations and packing our lunches everyday.
Hindsight is always 20/20 but the best advice I can give is be prudent with your finances; be prudent with your credit. Always have dry powder on the sidelines, always think long term and position yourself and your family for long term prosperity not short term gains. One of my buddies, during the whole 2008-2009 downturn managed to get a mansion (12br, 6 bath, 6 acres righ in historic downtown) not because he was rich but because he was cautious with his money, he managed to scoop the property at the lowest price because everyone else was bailing out.
Just that move alone increased his income 30% for the rest of his life.

[Nutria]

One of my buddies, during the whole 2008-2009 downturn managed to get a mansion (12br, 6 bath, 6 acres righ in historic downtown) not because he was rich but because he was cautious with his money, he managed to scoop the property at the lowest price because everyone else was bailing out.
Just that move alone increased his income 30% for the rest of his life.

A 12br rental?

[TexasHusker]

2000 lost about 40% in 401K
2008 lost about 45% in 401K
personal brokerage -35% in 2008
Property has been different, I rented until 2009; I used to walk with my wife in this really nice neighborhood and we looked at a couple of houses in 2007 but they were unaffordable for us at the time 300K plus, so we just waited. two years later one of the houses was put in the market again, this time at 165K. We closed within a month. I remember pre-2008 everyone was a realtor, everyone was getting hummers, jetskies, going to vacations 3x every year, flipping the ****tiest properties within 1-2 months; meanwhile my wife and I just sat on the sidelines, we saved cash enough for a big down payment, pay down our student loans and finished our degrees. In other words while everyone else was taking massive home equity loans we were camping, going on budget vacations and packing our lunches everyday.
Hindsight is always 20/20 but the best advice I can give is be prudent with your finances; be prudent with your credit. Always have dry powder on the sidelines, always think long term and position yourself and your family for long term prosperity not short term gains. One of my buddies, during the whole 2008-2009 downturn managed to get a mansion (12br, 6 bath, 6 acres righ in historic downtown) not because he was rich but because he was cautious with his money, he managed to scoop the property at the lowest price because everyone else was bailing out.
Just that move alone increased his income 30% for the rest of his life.

Thus the old adage "you don't make money in real estate when you sell; you make it when you buy".

[TexasHusker]

A 12br rental?

brothel.

[Nutria]

brothel.

That is a form of rental...

[TexasHusker]

That is a form of rental...

weekly redlight special boosts the rent too.

[FoolFromAZ]

I lost nearly 25K during stock market crash in 2007/8. I closed the brokerage account right after that crash.. but stocks have been going up right after I closed it. I was tempted many times to open again and do but still sticking with it. no more stock trading.. especially single company stocks. funny thing is if I had not sold everthing I had left at that time in 2008, I would have gained more than 100K by now. all the stocks that I held doubled or tippled.

I still do with roth or 401k though.