Patriotic Stabilist
Platinum Member
Why was the hunkering down thread closed? Are they just closed after so many postings or did I say something wrong?
Just curious.
In regard to some of that, I was an accountant in my old life. People I worked with and folks we knew made fun of us constantly for not leveraging our money, borrowing against our house and investing in the market. They would point out to us how we were losing so much money.
They also gave us a rough time when we would buy a rental, first to much work, then we would either pay cash or pay it off quickly. (We buy cheap, you make your money up front, not buying and renting with negative cash flow waiting for the property to go up, if it does, well good luck to you, have resold several and have only a 4 rentors now, soon to be 5, but we hope that will supplement our retirement.) People informed us our money was not working for us, well guess what we grew it slowly, but we still have it also, it didn't go poof.
Okkkkkkkkkkk, now we hear nothing, just silence. Many have lost the overleveraged assets or taken a killing in their fund accounts. Anyone our age, I'm soon to be 63 have seen many busts, realized what was happening could not continue. Houses don't continue up for ever and stock dont either.
The reason I would be scared of the market now is so many funds are ponzi schemes and so many businesses have and are going to go bankrupt, who and what do you trust? I too get the WSJ and read it religiously, even the money people are confused and don't know which way to go.
One thing I did do back a few years ago is invested in I bonds, their earnings are inflation adjusted. However, now they limit you to $30k a year to invest in and can't find any banks that will let me put them in Roths anymore. Though you can't over a certain income anyway. But some I bought 6 years ago are earning 6 to 8%, that is what the government is paying for money, wish I had a potful of them.
Just curious.In regard to some of that, I was an accountant in my old life. People I worked with and folks we knew made fun of us constantly for not leveraging our money, borrowing against our house and investing in the market. They would point out to us how we were losing so much money.
They also gave us a rough time when we would buy a rental, first to much work, then we would either pay cash or pay it off quickly. (We buy cheap, you make your money up front, not buying and renting with negative cash flow waiting for the property to go up, if it does, well good luck to you, have resold several and have only a 4 rentors now, soon to be 5, but we hope that will supplement our retirement.) People informed us our money was not working for us, well guess what we grew it slowly, but we still have it also, it didn't go poof.
Okkkkkkkkkkk, now we hear nothing, just silence. Many have lost the overleveraged assets or taken a killing in their fund accounts. Anyone our age, I'm soon to be 63 have seen many busts, realized what was happening could not continue. Houses don't continue up for ever and stock dont either.
The reason I would be scared of the market now is so many funds are ponzi schemes and so many businesses have and are going to go bankrupt, who and what do you trust? I too get the WSJ and read it religiously, even the money people are confused and don't know which way to go.
One thing I did do back a few years ago is invested in I bonds, their earnings are inflation adjusted. However, now they limit you to $30k a year to invest in and can't find any banks that will let me put them in Roths anymore. Though you can't over a certain income anyway. But some I bought 6 years ago are earning 6 to 8%, that is what the government is paying for money, wish I had a potful of them.
