If I don't laugh I will cry..

[hillsdown]

Just got our statement for our RRSP's, it is the only thing we didn't close out when the stock market went in the toilet..

They lost EVERYTHING that was invested last year and a huge chunk of the principal,we are at a negative balance for 2008 so all that we contribute every month is gone.. :cry2:

I knew we should have closed it out last year and just payed the bloody taxes ......

I am so very very p@ssed off right now, and then I saw my credit card statements today when I payed bills and every single one of them has raised their interest rates..I don't know how people would manage if they do not pay their bills off completely each month.

I am so tired of greedy rotten b@stard criminals... :devil2:

 

[Lammie]

That's awful. Steve's 401K lost 41% last year. He and the plant manager invested in the same stocks. Mobile plants are laying off everywhere, keeping skeleton crews. Oakwood in Fort Worth's managers went on hourly pay and they work part time. It's sad. I never know when Steve will get the axe. He's already taken a demotion and decrease in pay. We are lucky, though. He has a job and he's good at it. He'll be one of the last ones to go.

I hate to think that executives behind this are rich.

 

[GMN]

Just got our statement for our RRSP's, it is the only thing we didn't close out when the stock market went in the toilet..

They lost EVERYTHING that was invested last year and a huge chunk of the principal,we are at a negative balance for 2008 so all that we contribute every month is gone.. :cry2:

I knew we should have closed it out last year and just payed the bloody taxes ......

I am so very very p@ssed off right now, and then I saw my credit card statements today when I payed bills and every single one of them has raised their interest rates..I don't know how people would manage if they do not pay their bills off completely each month.

I am so tired of greedy rotten b@stard criminals... :devil2:

I agree with the credit card companies, they are a bunch of crooks. They got bail out money, gave their employees bonuses or fired a few thousand, then even if you got excellent credit, they raised the rates across the board, said it was because of the economy. I opted out of one of mine, and they have to honor it, no way was I going to pay double interest when I have excellent credit.

Sorry you lost money in your investments, you are not alone there, anyone who has 401k plans or anything stock related has lost a bunch in the last 6 months alone. They say things will get better, hope they are right, way I see it, things can't get much worse.

GMN

 

[Angus Cowman]

We were lucky or smart one or maybe it was just dumb luck we took almost all of ours out of 401s and retirement accounts a few yrs ago and paid the taxes and reinvested in longterm CDs and we have actually came out pretty good over the last 5 yrs we lost some money by not getting the hi returns but this yr has made up for it we are still drawing over 6% on some and about 5% on the others now a few short term ones aren't doing but about 2.5% , hopefully when the better ones come up for renewal the rates and the economy will be better

Sorry to here about your losses and I hope it will get better

 

[iowahawkeyes]

I'm just glad we don't need to get at the investments now. How is this thing going to get turned around??? Another "New Deal"? It's bad I know that, so many layoffs....

 

[john250]

I'm just glad we don't need to get at the investments now. How is this thing going to get turned around??? Another "New Deal"? It's bad I know that, so many layoffs....

The downward spiral has begun. Laid-off people don't buy much, the demand for products drops, more layoffs, on and on.
It will end soon enough. Let it be.

 

[hillsdown]

Thanks everyone, I am just sick about this. I am not a risk taker or gambler when it comes to money so I thought this was the safest investment at the time.. :dunce:

I don't know how to tell my husband,,as it was my idea to invest and he was against it to begin with.

Hubby is booked solid until breakup and then it could be anybody's guess. He could always go over seas but then I don't think I would be able to have as many or perhaps even any cattle. Worst scenario we would have to move there.

It could be worse ,my parents lost a few mill in the stock market last year and are just going to ride it out and hopefully they will eventually break even.

The good news is that in times of economic hardship cattle prices usually go up, let's hope that is the case.

 

[HerefordSire]

I agree with the credit card companies, they are a bunch of crooks. They got bail out money, gave their employees bonuses or fired a few thousand, then even if you got excellent credit, they raised the rates across the board, said it was because of the economy. I opted out of one of mine, and they have to honor it, no way was I going to pay double interest when I have excellent credit.

Sorry you lost money in your investments, you are not alone there, anyone who has 401k plans or anything stock related has lost a bunch in the last 6 months alone. They say things will get better, hope they are right, way I see it, things can't get much worse.

GMN

That is not true. I hit the peak of the market in my highly rated 401K mid cap growth fund. I stayed in cash the entire time since I sold it. I recently moved the funds back in when the market hit bottom. I hope to see a double in a short period of time from two mutual fund transactions...one sell and one buy. The stock transactions put me way up since I am a trader and the market has been so volatile. The only thing I am losing money on is cattle.

 

[Ryder]

way I see it, things can't get much worse.
GMN

Oh yes they can.

 

[Alice]

way I see it, things can't get much worse.
GMN

Oh yes they can.

I gotta agree...don't ever dare "never"...or "can't"

Alice

 

[larryshoat]

Just got our statement for our RRSP's, it is the only thing we didn't close out when the stock market went in the toilet..

They lost EVERYTHING that was invested last year and a huge chunk of the principal,we are at a negative balance for 2008 so all that we contribute every month is gone.. :cry2:

I knew we should have closed it out last year and just payed the bloody taxes ......

I am so very very p@ssed off right now, and then I saw my credit card statements today when I payed bills and every single one of them has raised their interest rates..I don't know how people would manage if they do not pay their bills off completely each month.

I am so tired of greedy rotten b@stard criminals... :devil2:

I think hd we've all had a belly full of being cheated . I heard a guy the other day talking about his 201k :lol2: The only stock I've ever owned is on four legs and we all know that can go bad too. Just a part of life I reckon, try to keep a positive attitude, there will be some opportunities mixed in with all the bad, we just have to sort them out .

Larry

 

[BeefmasterB]

Thanks everyone, I am just sick about this. I am not a risk taker or gambler when it comes to money so I thought this was the safest investment at the time.. :dunce:

I don't know how to tell my husband,,as it was my idea to invest and he was against it to begin with.

Hubby is booked solid until breakup and then it could be anybody's guess. He could always go over seas but then I don't think I would be able to have as many or perhaps even any cattle. Worst scenario we would have to move there.

It could be worse ,my parents lost a few mill in the stock market last year and are just going to ride it out and hopefully they will eventually break even.

The good news is that in times of economic hardship cattle prices usually go up, let's hope that is the case.

HD, there's nothing wrong with taking some risks. It's the only way to get ahead. Your not alone in devalued stocks and investments! However, when an investor is young, long-term stock/investments make perfect sense as they will usually weather out many of the downs. Put it behind you and keep looking for good investments and spread your investment dollars around into a variety of investment opportunities. Personally, I like real estate. Keep your chin up!

 

[3waycross]

I agree with the credit card companies, they are a bunch of crooks. They got bail out money, gave their employees bonuses or fired a few thousand, then even if you got excellent credit, they raised the rates across the board, said it was because of the economy. I opted out of one of mine, and they have to honor it, no way was I going to pay double interest when I have excellent credit.

Sorry you lost money in your investments, you are not alone there, anyone who has 401k plans or anything stock related has lost a bunch in the last 6 months alone. They say things will get better, hope they are right, way I see it, things can't get much worse.

GMN

That is not true. I hit the peak of the market in my highly rated 401K mid cap growth fund. I stayed in cash the entire time since I sold it. I recently moved the funds back in when the market hit bottom. I hope to see a double in a short period of time from two mutual fund transactions...one sell and one buy. The stock transactions put me way up since I am a trader and the market has been so volatile. The only thing I am losing money on is cattle.

Has it ever occured to you that when you say smug condescending things like this, that someone might just like to stomp a mudhole in your sorry a$$.

People are losing life savings here and you can't control your phoney smart mouth. Did it ever occur to you to just keep that kind of crap to yourself, assuming that is that anything you ever say is true.

 

[3waycross]

Just got our statement for our RRSP's, it is the only thing we didn't close out when the stock market went in the toilet..

They lost EVERYTHING that was invested last year and a huge chunk of the principal,we are at a negative balance for 2008 so all that we contribute every month is gone.. :cry2:

I knew we should have closed it out last year and just payed the bloody taxes ......

I am so very very p@ssed off right now, and then I saw my credit card statements today when I payed bills and every single one of them has raised their interest rates..I don't know how people would manage if they do not pay their bills off completely each month.

I am so tired of greedy rotten b@stard criminals... :devil2:

Hillsdown I know exactly how you feel. I recently watched two 1000 share stock options that I had worked 15 years for go right down the drain. They were in my company stock and I couldn't cash them in last year without losing a huge amount to taxes. That's sure not a problem now they have gone from a positive $25,000 in value to a negative $6,000 as of the close of business today.

Keep in mind you're only beat if you give up. When I was a kid I watched one grandfather go quietly insane over losing his life's savings during the depression, while the other one bought and paid for a 14,000 acre ranch over the same time frame cuz he just didn't know when to quit.

Hang in there: THINGS CAN ALWAYS GET BETTER!
:cowboy:

 

[larryshoat]

Just got our statement for our RRSP's, it is the only thing we didn't close out when the stock market went in the toilet..

They lost EVERYTHING that was invested last year and a huge chunk of the principal,we are at a negative balance for 2008 so all that we contribute every month is gone.. :cry2:

I knew we should have closed it out last year and just payed the bloody taxes ......

I am so very very p@ssed off right now, and then I saw my credit card statements today when I payed bills and every single one of them has raised their interest rates..I don't know how people would manage if they do not pay their bills off completely each month.

I am so tired of greedy rotten b@stard criminals... :devil2:

Hillsdown I know exactly how you feel. I recently watched two 1000 share stock options that I had worked 15 years for go right down the drain. They were in my company stock and I couldn't cash them in last year without losing a huge amount to taxes. That's sure not a problem now they have gone from a positive $25,000 in value to a negative $6,000 as of the close of business today.

Keep in mind you're only beat if you give up. When I was a kid I watched one grandfather go quietly insane over losing his life's savings during the depression, while the other one bought and paid for a 14,000 acre ranch over the same time frame cuz he just didn't know when to quit.

Hang in there: THINGS CAN ALWAYS GET BETTER!
:cowboy:

:clap: :clap: Good post, in fact I think that's 2 good posts in a row ;-) . I think you're on a roll buddy, keep em coming .

Larry

 

[Jim62]

....."Has it ever occured to you that when you say smug condescending things like this, that someone might just like to stomp a mudhole in your sorry a$$.".........

My sentiments exactly. What an a$$hole !!

.."I am so tired of greedy rotten b@stard criminals... "

Hmmmm. As an afterthought, maybe he's one of 'em......

 

[peg4x4]

I guess thats one good thing 'bout being poor as Jobs turkey(whoever and whatever they were) ain't got nothin',can't lose nothin'

 

[tom4018]

About everyone I hear that mentions their 401k's says about a 40% loss. Even some of the talk radio financial guys say they lost that much.

 

[tom4018]

I agree with the credit card companies, they are a bunch of crooks. They got bail out money, gave their employees bonuses or fired a few thousand, then even if you got excellent credit, they raised the rates across the board, said it was because of the economy. I opted out of one of mine, and they have to honor it, no way was I going to pay double interest when I have excellent credit.

Sorry you lost money in your investments, you are not alone there, anyone who has 401k plans or anything stock related has lost a bunch in the last 6 months alone. They say things will get better, hope they are right, way I see it, things can't get much worse.

GMN

That is not true. I hit the peak of the market in my highly rated 401K mid cap growth fund. I stayed in cash the entire time since I sold it. I recently moved the funds back in when the market hit bottom. I hope to see a double in a short period of time from two mutual fund transactions...one sell and one buy. The stock transactions put me way up since I am a trader and the market has been so volatile. The only thing I am losing money on is cattle.

Your comment sure upset some people. If I understand you right you took money out of the mid cap growth fund and put in a money market type account, I can see that being a good move if the timing was right.

On moving the funds back I am not sure the bottom has been seen.

As far as cattle we made a little bit per head after factoring in all expenses.

 

[BeefmasterB]

The sad thing about these loses is that we know they might have been prevented, as has been pointed out. But, the fact is, that most of us (me included) place our hard earned dollars into investments (stocks) and forget about them believing they will not only average out over the long haul but also gain in value. And, a lot of times, it just doesn't work out that way.

I'm glad HFS recognized a situation and an opportunity and was able to take advantage of it. I don't think he intended to hurt anyones feelings. I'm sure he could tell some situations that didn't work out so well.

I feel bad for anyone who lost money in the stock market because a company literally folded (like Enron) - no hope of recovery. Just because the stock market is down is meaningless in and of itself, unless you sell it when its down or are forced to sell.