With the world economic meltdown in progress everyone with any net worth seems now to have less. What percentage of your net worth have you lost so far and do you feel it will get worse?
As for me---------I am at this point down about 8% in both my wife's and my IRA Accounts, 20% down on home valuation and 12% down on other investments. I fully expect it to get worse. So--------without giving dollar amounts, what percentage of your assets have you lost so far>
How Much Have You Lost So Far?
How Much Have You Lost So Far?
I know our IRA accts took a hit. Really p.o.
How Much Have You Lost So Far?
Barman;995627 wrote: Might be a lot worse off in a few hours time, looking at buying another sports car.:)There can be few sentences in which the word "another" carries an aura of such blatant smug satisfaction.
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
How Much Have You Lost So Far?
I don't have many assests (well I have a guitar and a nissan and a iMac), I never bought into the property boom because this is exactly what I thought was going to happen, and I don't have a pension fund because I am studying for my Doctorate and I can't afford to pay into one at the minute, my fellowship award is also non taxable and the money is ring-fenced (apparently). Therefore I don't have much they can take off me, aside from some not very high quality home furnishings, my clothes, and my books (but I will kill anyone who touches my books, end of discussion).
Essentially my net worth as an economic entity is zero (which I find encouraging as I am not an economic entity I am a lad from Ireland), therefore my long-term deleveraged economic losses going forward are zero, seems it pays to be a little aesthetic on occasion.
Though on the downside, I have watched too many episodes of Newsnight and read a lot of online comment etc. (time is money), and bought an edition or two of the economist, so thats a hit right there. Though being one of the little people, I am fully expecting the man to call around and take my meagre possestions any day now in order to bail out those poor suffering souls in Bank of Ireland, and Allied Irish Bank, who are down to their last Merc, bag of cocaine, and can now only manage to keep one of their teenage mistress in her little city pad, poor babies it must be terrible for them. :wah:
Essentially my net worth as an economic entity is zero (which I find encouraging as I am not an economic entity I am a lad from Ireland), therefore my long-term deleveraged economic losses going forward are zero, seems it pays to be a little aesthetic on occasion.
Though on the downside, I have watched too many episodes of Newsnight and read a lot of online comment etc. (time is money), and bought an edition or two of the economist, so thats a hit right there. Though being one of the little people, I am fully expecting the man to call around and take my meagre possestions any day now in order to bail out those poor suffering souls in Bank of Ireland, and Allied Irish Bank, who are down to their last Merc, bag of cocaine, and can now only manage to keep one of their teenage mistress in her little city pad, poor babies it must be terrible for them. :wah:
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
How Much Have You Lost So Far?
I dread seeing both our reports at the end of this quarter:-3
How Much Have You Lost So Far?
Galbally;995808 wrote: I don't have many assests (well I have a guitar and a nissan and a iMac), I never bought into the property boom because this is exactly what I thought was going to happen, and I don't have a pension fund because I am studying for my Doctorate and I can't afford to pay into one at the minute, my fellowship award is also non taxable and the money is ring-fenced (apparently). Therefore I don't have much they can take off me, aside from some not very high quality home furnishings, my clothes, and my books (but I will kill anyone who touches my books, end of discussion).
Essentially my net worth as an economic entity is zero (which I find encouraging as I am not an economic entity I am a lad from Ireland), therefore my long-term deleveraged economic losses going forward are zero, seems it pays to be a little aesthetic on occasion.
Though on the downside, I have watched too many episodes of Newsnight and read a lot of online comment etc. (time is money), and bought an edition or two of the economist, so thats a hit right there. Though being one of the little people, I am fully expecting the man to call around and take my meagre possestions any day now in order to bail out those poor suffering souls in Bank of Ireland, and Allied Irish Bank, who are down to their last Merc, bag of cocaine, and can now only manage to keep one of their teenage mistress in her little city pad, poor babies it must be terrible for them. :wah:
Thanks for the post--------what is your Master's in and what will your Doctorate be in, just curious.
Essentially my net worth as an economic entity is zero (which I find encouraging as I am not an economic entity I am a lad from Ireland), therefore my long-term deleveraged economic losses going forward are zero, seems it pays to be a little aesthetic on occasion.
Though on the downside, I have watched too many episodes of Newsnight and read a lot of online comment etc. (time is money), and bought an edition or two of the economist, so thats a hit right there. Though being one of the little people, I am fully expecting the man to call around and take my meagre possestions any day now in order to bail out those poor suffering souls in Bank of Ireland, and Allied Irish Bank, who are down to their last Merc, bag of cocaine, and can now only manage to keep one of their teenage mistress in her little city pad, poor babies it must be terrible for them. :wah:
Thanks for the post--------what is your Master's in and what will your Doctorate be in, just curious.
How Much Have You Lost So Far?
Lon;995334 wrote: With the world economic meltdown in progress everyone with any net worth seems now to have less. What percentage of your net worth have you lost so far and do you feel it will get worse?
As for me---------I am at this point down about 8% in both my wife's and my IRA Accounts, 20% down on home valuation and 12% down on other investments. I fully expect it to get worse. So--------without giving dollar amounts, what percentage of your assets have you lost so far>
Your home value doesn't really matter unless you are planning to sell up and move on or take some of the equity out of it. If you're staying put and can still afford the mortgage How much has it risen since you bought it? 20% drop on a 500% rise still leaves you better off than if you hadn't bought. Just be glad you're not renting. Mine isn't shifting much since prices up here weren't quite as ridiculous as they are elsewhere. there's still a tremendous demand for houses but first time buyers need bigger deposits, the rates are higher for them as well, anyone renting has a real problem saving a deposit big enough. new mortgages are down 64% on last year.
Investments down slightly? markets are still up on 2001 how much are you up since you started- 8% drop compared to that in 2001 is quite good. time to shift to European stocks perhaps.
How do 401k's work? do you pick your own share portfolio or use mutual funds (think that's what they are called in the states). or what?
As for me---------I am at this point down about 8% in both my wife's and my IRA Accounts, 20% down on home valuation and 12% down on other investments. I fully expect it to get worse. So--------without giving dollar amounts, what percentage of your assets have you lost so far>
Your home value doesn't really matter unless you are planning to sell up and move on or take some of the equity out of it. If you're staying put and can still afford the mortgage How much has it risen since you bought it? 20% drop on a 500% rise still leaves you better off than if you hadn't bought. Just be glad you're not renting. Mine isn't shifting much since prices up here weren't quite as ridiculous as they are elsewhere. there's still a tremendous demand for houses but first time buyers need bigger deposits, the rates are higher for them as well, anyone renting has a real problem saving a deposit big enough. new mortgages are down 64% on last year.
Investments down slightly? markets are still up on 2001 how much are you up since you started- 8% drop compared to that in 2001 is quite good. time to shift to European stocks perhaps.
How do 401k's work? do you pick your own share portfolio or use mutual funds (think that's what they are called in the states). or what?
How Much Have You Lost So Far?
gmc;995994 wrote: Your home value doesn't really matter unless you are planning to sell up and move on or take some of the equity out of it. If you're staying put and can still afford the mortgage How much has it risen since you bought it? 20% drop on a 500% rise still leaves you better off than if you hadn't bought. Just be glad you're not renting. Mine isn't shifting much since prices up here weren't quite as ridiculous as they are elsewhere. there's still a tremendous demand for houses but first time buyers need bigger deposits, the rates are higher for them as well, anyone renting has a real problem saving a deposit big enough. new mortgages are down 64% on last year.
Investments down slightly? markets are still up on 2001 how much are you up since you started- 8% drop compared to that in 2001 is quite good. time to shift to European stocks perhaps.
How do 401k's work? do you pick your own share portfolio or use mutual funds (think that's what they are called in the states). or what?
I agree with you about home values and since I have no mortgage and the house is still worth more than I paid, I am not complaining, nor selling. I am fairly well set as a retiree with two pensions and hopefully sufficient assets to see through some inflationary times that I see coming.
With increased gas prices, food prices etc. it impacts those on a fixed income and will necessitate drawing down on other investments (if any left).
401 K's are a popular form of voluntary investing for retirement through the employer, who will usually match on some basis, the employee's contribution up to a certain % of salary. The employee contribution is always vested and he can become fully vested in his employers and his own contribution after so many years (typically 7 to 10). There are a wide range of investment choices that employees can make, from high risk to quite safe, with monies typically invested in a variety. Yes---mutual funds is one of the options, but not the only one. These 401 K Plans have all but eliminated the old Defined Benefit Pension Plans or yesteryear.
Investments down slightly? markets are still up on 2001 how much are you up since you started- 8% drop compared to that in 2001 is quite good. time to shift to European stocks perhaps.
How do 401k's work? do you pick your own share portfolio or use mutual funds (think that's what they are called in the states). or what?
I agree with you about home values and since I have no mortgage and the house is still worth more than I paid, I am not complaining, nor selling. I am fairly well set as a retiree with two pensions and hopefully sufficient assets to see through some inflationary times that I see coming.
With increased gas prices, food prices etc. it impacts those on a fixed income and will necessitate drawing down on other investments (if any left).
401 K's are a popular form of voluntary investing for retirement through the employer, who will usually match on some basis, the employee's contribution up to a certain % of salary. The employee contribution is always vested and he can become fully vested in his employers and his own contribution after so many years (typically 7 to 10). There are a wide range of investment choices that employees can make, from high risk to quite safe, with monies typically invested in a variety. Yes---mutual funds is one of the options, but not the only one. These 401 K Plans have all but eliminated the old Defined Benefit Pension Plans or yesteryear.
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chonsigirl
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How Much Have You Lost So Far?
Probably lost some in worth of the two homes, but never invested in the stock market. I always assumed I would have a part time job even after retirement, so who knows where I will be ten years from now?
How Much Have You Lost So Far?
Lon;995878 wrote: Thanks for the post--------what is your Master's in and what will your Doctorate be in, just curious.
Its on the impact of the use of bioenergy, biomass crops in Ireland, the prevention of surface and ground water pollution, nutrient run-off and heavy metal leaching from land, and the development of sustainable fertilizers taken from waste sources. Its quite interesting I have to say.
Let me also say that I took this doctorate on career grounds, and a mercenary sense that the area the research is in may have a future. I certainly didn't choose it based on some wildly misplaced idea about doing some good in the world. Scientists generally only like doing work that has nefarious consequences anyway, like breeding men with potatoes, or making cars that run on breast milk. So I am a bit of a billy-no-mates down the mad German professor club.
Its on the impact of the use of bioenergy, biomass crops in Ireland, the prevention of surface and ground water pollution, nutrient run-off and heavy metal leaching from land, and the development of sustainable fertilizers taken from waste sources. Its quite interesting I have to say.
Let me also say that I took this doctorate on career grounds, and a mercenary sense that the area the research is in may have a future. I certainly didn't choose it based on some wildly misplaced idea about doing some good in the world. Scientists generally only like doing work that has nefarious consequences anyway, like breeding men with potatoes, or making cars that run on breast milk. So I am a bit of a billy-no-mates down the mad German professor club.
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
How Much Have You Lost So Far?
Galbally;996089 wrote: Its on the impact of the use of bioenergy, biomass crops in Ireland, the prevention of surface and ground water pollution, nutrient run-off and heavy metal leaching from land, and the development of sustainable fertilizers taken from waste sources. Its quite interesting I have to say.
Let me also say that I took this doctorate on career grounds, and a mercenary sense that the area the research is in may have a future. I certainly didn't choose it based on some wildly misplaced idea about doing some good in the world. Scientists generally only like doing work that has nefarious consequences anyway, like breeding men with potatoes, or making cars that run on breast milk. So I am a bit of a billy-no-mates down the mad German professor club.
It takes a good mind to pursue your course of study. Your posts certainly indicate that you are up for it.
Cars running on breast milk?? Interesting thought.:wah:
Let me also say that I took this doctorate on career grounds, and a mercenary sense that the area the research is in may have a future. I certainly didn't choose it based on some wildly misplaced idea about doing some good in the world. Scientists generally only like doing work that has nefarious consequences anyway, like breeding men with potatoes, or making cars that run on breast milk. So I am a bit of a billy-no-mates down the mad German professor club.
It takes a good mind to pursue your course of study. Your posts certainly indicate that you are up for it.
Cars running on breast milk?? Interesting thought.:wah:
How Much Have You Lost So Far?
Lon;996102 wrote: It takes a good mind to pursue your course of study. Your posts certainly indicate that you are up for it.
Cars running on breast milk?? Interesting thought.:wah:
Thank you lon, I will try to do my best. I will also talk to the boys working on the breast milk engine and see what they have come up with so far. :wah:
Cars running on breast milk?? Interesting thought.:wah:
Thank you lon, I will try to do my best. I will also talk to the boys working on the breast milk engine and see what they have come up with so far. :wah:
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
How Much Have You Lost So Far?
Galbally;996437 wrote: Thank you lon, I will try to do my best. I will also talk to the boys working on the breast milk engine and see what they have come up with so far. :wah:
Hang on, I never quite thought about it before... women don't eat grass, do they? So where does the milk come from?
Hang on, I never quite thought about it before... women don't eat grass, do they? So where does the milk come from?
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
How Much Have You Lost So Far?
posted by lon
401 K's are a popular form of voluntary investing for retirement through the employer, who will usually match on some basis, the employee's contribution up to a certain % of salary. The employee contribution is always vested and he can become fully vested in his employers and his own contribution after so many years (typically 7 to 10). There are a wide range of investment choices that employees can make, from high risk to quite safe, with monies typically invested in a variety. Yes---mutual funds is one of the options, but not the only one. These 401 K Plans have all but eliminated the old Defined Benefit Pension Plans or yesteryear.
Interesting. The UK used to have some of the best defined benefit pensions schemes in europe but successive governments have effectively made them uneconomic for private companies so they're all but finished for new employees. Though those employed by govt or local authorities still have them and go on strike to keep their benefits but don't seem able to appreciate it's all those in private industry that actually pay for them. The UK also had a pretty good private pension industry as well.
401 K's are a popular form of voluntary investing for retirement through the employer, who will usually match on some basis, the employee's contribution up to a certain % of salary. The employee contribution is always vested and he can become fully vested in his employers and his own contribution after so many years (typically 7 to 10). There are a wide range of investment choices that employees can make, from high risk to quite safe, with monies typically invested in a variety. Yes---mutual funds is one of the options, but not the only one. These 401 K Plans have all but eliminated the old Defined Benefit Pension Plans or yesteryear.
Interesting. The UK used to have some of the best defined benefit pensions schemes in europe but successive governments have effectively made them uneconomic for private companies so they're all but finished for new employees. Though those employed by govt or local authorities still have them and go on strike to keep their benefits but don't seem able to appreciate it's all those in private industry that actually pay for them. The UK also had a pretty good private pension industry as well.
How Much Have You Lost So Far?
fuzzy butt;996464 wrote: I heard today on ABC National that three banks (in the US) have run out of cash because their clients have withdrawn all their money....................the panic is beginning
The biggest of them was the Washington Mutual, "one of the largest savings and loan institutions in the US". Depositors had withdrawn $16.7bn from the bank during the past 10 days. JPMorgan Chase ate them, just like they ate Bear Stearns earlier this year.
The list of failed US banks is kept up to date at http://www.fdic.gov/bank/individual/fai ... klist.html
The biggest of them was the Washington Mutual, "one of the largest savings and loan institutions in the US". Depositors had withdrawn $16.7bn from the bank during the past 10 days. JPMorgan Chase ate them, just like they ate Bear Stearns earlier this year.
The list of failed US banks is kept up to date at http://www.fdic.gov/bank/individual/fai ... klist.html
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
How Much Have You Lost So Far?
spot;996445 wrote: Hang on, I never quite thought about it before... women don't eat grass, do they? So where does the milk come from?
Its all that salad they eat for lunch. You know, Human breast milk is an untapped resource, perhaps we should start thinking about that. Then again, perhaps not, I think I am sorry that I brought it up, and should focus instead on the man/potato (Mantayto) hybrid and the inevitable cat/horse (or a Carse).
Its all that salad they eat for lunch. You know, Human breast milk is an untapped resource, perhaps we should start thinking about that. Then again, perhaps not, I think I am sorry that I brought it up, and should focus instead on the man/potato (Mantayto) hybrid and the inevitable cat/horse (or a Carse).
"We are never so happy, never so unhappy, as we imagine"
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
Le Rochefoucauld.
"A smack in the face settles all arguments, then you can move on kid."
My dad 1986.
How Much Have You Lost So Far?
Thank you Galbally. I shall go and ruminate.
Nullius in verba ... ☎||||||||||| ... To Fate I sue, of other means bereft, the only refuge for the wretched left.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
When flower power came along I stood for Human Rights, marched around for peace and freedom, had some nooky every night - we took it serious.
Who has a spare two minutes to play in this month's FG Trivia game! ... My other OS is Slackware.
How Much Have You Lost So Far?
JAB;995820 wrote: Some 401k humor... 
If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 left of the original $1000.
With WorldCom, you would have less than $5.00 left.
If you had purchased $1000.00 of Delta Air Lines stock you would have $49.00 left.
If you had purchased United Airlines, you would have nothing left.
But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling refund you would have $214.00.
Based on the above, the best current investment advice is to drink heavily and recycle.
This is called the 401-Keg Plan.
It's a pity they don't pay you to recycle over here in the UK, if they did then I would.
If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 left of the original $1000.
With WorldCom, you would have less than $5.00 left.
If you had purchased $1000.00 of Delta Air Lines stock you would have $49.00 left.
If you had purchased United Airlines, you would have nothing left.
But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum recycling refund you would have $214.00.
Based on the above, the best current investment advice is to drink heavily and recycle.
This is called the 401-Keg Plan.
It's a pity they don't pay you to recycle over here in the UK, if they did then I would.
I'm too compassionate to be an utter bastard.
Too self respecting to be a caring idiot.
Too much pride to give up the self respect.
And not willing to take the rap for a lack of compassion.
Where does this leave me? Nowhere. What does this leave me? Nothing. Who does this leave me? Noone.
Too self respecting to be a caring idiot.
Too much pride to give up the self respect.
And not willing to take the rap for a lack of compassion.
Where does this leave me? Nowhere. What does this leave me? Nothing. Who does this leave me? Noone.