We make Web sites and Web-based software.
I think companies are finally coming to the realization that it takes money to make money from the Web. A good Web site is a very sound investment, and a cheap-o site that’s hastily thrown together is just pissing in the wind.
Well, so far no. I lost my job but found one that paid a lot more and had better hours within a month at a big insurance company (not AIG). I seemed to have survived our layoffs. My investments are down about 10% but they will probably bounce back. Also, I’m taking advantage of some of the bargain stock prices in companies like Apple, Proctor & Gamble, McDonalds, Johnson & Johnson and others.
Sounds like you missed the 2001 financial turmoil as well.
I got the shit kicked out me of on paper, but none of that was money I was planning to touch for another thirty-odd years, so I just keep telling myself to follow Warren’s advice and not get too upset.
In my daily life, OTOH, it hasn’t had the slightest effect. My house is all paid up (and I’m not planning to sell anytime soon), and the cardinal rule of business is “never cut your advertising budget” so we’re getting plenty of projects coming in at work.
It is far from over. This thread is a few months early.
29 and no retirement savings? You’re not “sitting pretty” you on a kayak trip down the De-Nile river.
“I’m not some rich guy, I make less than $50K per year.”
“will not have any health insurance”
"I have less money in stocks and bonds than the average person of my age (35), so I was less affected by this mess "
“This is the first time in my adult life that I’ve been happy to have no assets.”
Yeah…it kind of seems like a lot of people are saying they aren’t affected by the financial turmoil because they don’t have any money.
Heh, yeah I guess that’s it. I have some nice stuff, but not a lot of money!
Yes, this is true. You got nothing, you got nothing to lose.
One would presume that at some point you will want or need more.
I retired 5 years ago, with a pension, and my wife still works. I haven’t had to touch my IRA or 401k yet. We also have, or had, about 25K in four stocks and cash. At the bottom, all of that was down about 25%. Right now, it has rrebounded, up to about 20% down. None of it is on margin, so we can wait until it comes back.
My wife works for a casket maker, where demand is pretty steady.
We just bought a new car, our first in 10 years. We’re okay.
You sound like a slightly older version of us. My husband will retire in January, and although we’ve both lost in our 401Ks, the plan is to leave it alone for a while anyway, since I’m still working.
Our retirement assets are diversified in CDs, pensions, 401Ks and Social Security, and I’ve still got 10 years to go. I’m thinking we’ll be back to our original “ok” eventually.
We were just talking about this at home. Of all of our friends, relatives and coworkers, there is only one couple that is in a bad situation (facing layoffs and unsure of next month’s mortgage payment). For all of the hoopla you hear on the news about how it’s as close to the Great Depression as we’ve ever been, I look around and I’m not seeing it.
We lost close to $100k in total across some of our investment accounts, and that hurts, but there’s still plenty left in those accounts, and we’re at least 20 years from retirement. We got my 401(k) statement yesterday and in the last 3 months we lost exactly $20.
As far as being affected on a day-to-day basis? Nope.
I think it’s actually a few years early. I don’t think we’ve even really got into the shit yet.
I think we’ll be okay - like others have said, we’ve been careful with our credit and how extended we are. My husband and I are both experienced workers in fields that are always hiring. His employer is still doing very well, and is privately-owned and well-managed.
For the most part, I think I’ll be okay. There are always nursing jobs to be found so I’m not worried about my job.
The only debt I have is my mortgage, and it’s manageable. I’m still on track to have it paid off by the time I’m 40.
I haven’t looked at my 401 and investment accounts because I’m in it for the long haul and I have a really long time before retirement.
I believe I’m going to take a little money and buy some stocks now while they’re down.
We’re actually doing better now than ever before.
I invested a total of $1k in my 403(b) last year, the first year of its life. It’s worth less than $200 now, but my losses could be much worse. I have a good 35 years ahead of me before I need to cash anything in.
I make New York City wages but I live in suburban New Jersey.
I don’t drive to work. Gas is no longer an issue. My transportation costs are fixed.
My credit score, which was abysmal two years ago, is steadily improving and just took a major leap upward.
I work for a nonprofit consumer credit counseling agency, so I pretty much have the most secure job in the country right now.
Next year, when we are both students, will be difficult. But for now we are making enough money to enjoy occasional splurges and save for future expenses.
It’s a good time to be young and broke.
I retired the last day of 1999 and my pension was half invested in the stock market of the time and was converted to a fixed rate annuity at that time. So unless the carrier goes broke, I am golden. None of my RRSP (something like a 401k) is in US stock and, while it has lost something, it hasn’t done too bad. My wife is about 3/4 retired (and she may stop after this year), we own our house, a one year old car, and Canadian medicare, so I don’t see it affecting me more than marginally.
My retirement is a long way away. I figure with stocks cheap, each paycheck’s contribution just buys that many more shares!
My house is affordable and we live below our means.
I work about 3 minutes from home, so gas is not a big deal. Husband works farther, but still not too bad.
I work for the state and it’s unlikely I’ll lose my job or benefits.
I only worry about my husband’s job- it would be hard for him to find a similar position locally in this economy,should something happen.
We’re okay, so far. Our jobs are reasonably safe (Hubby is in an industry that is historically slow to be affected, I am in one that tends to boom when the economy sucks), our investments are extremely conservative, and our debt is, at this point, not unreasonable.
We’re nervous, because we’re both a bit twitchy by nature, but we haven’t been hurt . . . yet.
Not to question your investment decisions, but you really should have lost more (i.e., you may be too invested in bonds and not enough in stocks). Now would be a great time to get the proper amount of stock in your portfolio.
Well,maybe they only had $1000 in there. Hell, I lost a few thou in my “funsies” high risk 401K. OTOH,it was doing very well up until then.