Limited Partnerships were the financial scam of the day back in the the late 1970's-early 1980s. I remember losing $18,000 of my first IRA savings way back then. Some investment lessons are truly learned the hard way.
I recommend that you keep your job for as long as you can, because once you leave you might not be able to find another one in these very uncertain times. It sounds like you are nearing retirement, so it behooves you to build up your savings as much as you can.
I REALLY like your daughter, and I congratulate her parents for teaching her the wonderful values that she possesses. :-)
(I bought a new Honda Fit in 2009 that I absolutely loved, it was hard to keep it under 80 on the freeway because it was so fun to drive!)
We all have to deal with what life throws at us and just try to make the best of it. It sounds like you and Connie have a wonderful family and have had a wonderful, fulfilling life so far. I wish you both the best in the future as you are a very caring person who has concern and empathy for others.
My advice would be NOT to ever LOAN money to friends or family members because it is very likely that it will end up ruining your relationship with them. Since YOU want your friends and family to all celebrate your wife's 60th birthday together, and apparently you can afford it, then I think it would be very magnanimous of you to offer to cover all of the trip costs.
Please don't do that, I highly value your viewpoint on all of the topics that you've commented on. You help provide great balance to these discussions!
Same thing happened to me, and I lost $18,000 of early IRA investment money. I think I was about 40 and now I'm 80, so that was half of my lifetime ago.
It was a horrible time and experience, in 2008 I was 2 years from retirement and my 65/35 stock/bond retirement savings dropped by 40%.
I committed the investment sin by selling my investments when they had re-risen by 2/3. My overall net loss by mid-2009 was about 13%.
But the most damage it did was turn me into a skeptical investor who was afraid to invest in equities that could drop by 50% at any time due to another unforeseen financial crisis or world event (like nuclear war). Consequently I have largely missed out on the huge equity market gains of the past 15 years.
Comments
Limited Partnerships were the financial scam of the day back in the the late 1970's-early 1980s. I remember losing $18,000 of my first IRA savings way back then. Some investment lessons are truly learned the hard way.
Post: Private Credit Stress?
Link to comment from March 25, 2026
Oh my, and being Texas, I wouldn't be surprised if half of them were packing firearms!!
Post: America Doesn’t Just Do Layoffs. It’s Fallen in Love With Them
Link to comment from March 18, 2026
I recommend that you keep your job for as long as you can, because once you leave you might not be able to find another one in these very uncertain times. It sounds like you are nearing retirement, so it behooves you to build up your savings as much as you can.
Post: America Doesn’t Just Do Layoffs. It’s Fallen in Love With Them
Link to comment from March 18, 2026
I REALLY like your daughter, and I congratulate her parents for teaching her the wonderful values that she possesses. :-) (I bought a new Honda Fit in 2009 that I absolutely loved, it was hard to keep it under 80 on the freeway because it was so fun to drive!)
Post: Is there any point when a child needs financial help that you feel comfortable saying “not my problem?”
Link to comment from March 15, 2026
We all have to deal with what life throws at us and just try to make the best of it. It sounds like you and Connie have a wonderful family and have had a wonderful, fulfilling life so far. I wish you both the best in the future as you are a very caring person who has concern and empathy for others.
Post: No, it is not a scam
Link to comment from March 11, 2026
My advice would be NOT to ever LOAN money to friends or family members because it is very likely that it will end up ruining your relationship with them. Since YOU want your friends and family to all celebrate your wife's 60th birthday together, and apparently you can afford it, then I think it would be very magnanimous of you to offer to cover all of the trip costs.
Post: Opinions Wanted: Please Reply Freely (I’m used to being called an idiot)
Link to comment from March 10, 2026
I guess I'd flunk that online course, because "better grades, more money, and a better job" DID make me VERY happy! :-)
Post: I’d like to take all the credit, but ……
Link to comment from February 22, 2026
Please don't do that, I highly value your viewpoint on all of the topics that you've commented on. You help provide great balance to these discussions!
Post: If you have done well, be proud.
Link to comment from February 17, 2026
Same thing happened to me, and I lost $18,000 of early IRA investment money. I think I was about 40 and now I'm 80, so that was half of my lifetime ago.
Post: Keep it Simpler
Link to comment from February 16, 2026
It was a horrible time and experience, in 2008 I was 2 years from retirement and my 65/35 stock/bond retirement savings dropped by 40%. I committed the investment sin by selling my investments when they had re-risen by 2/3. My overall net loss by mid-2009 was about 13%. But the most damage it did was turn me into a skeptical investor who was afraid to invest in equities that could drop by 50% at any time due to another unforeseen financial crisis or world event (like nuclear war). Consequently I have largely missed out on the huge equity market gains of the past 15 years.
Post: Financial Trauma
Link to comment from February 14, 2026