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Invelos Forums->General: General Discussion |
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 What happened to Skip? (Locked) |
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| Author |
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| Registered: March 10, 2009 | | Posts: 2,248 |
| | Posted: | | | | Quoting Winston Smith: Quote:
I was Scott and a number of bad things happened and then fed off each other til it took on nightmare status.
What the stock market giveth, it can also take back I take as the interest rates dropped you where advised to invest in stocks? |
| | Registered: June 21, 2007 | Reputation:  |  Posts: 2,621 |
| | Posted: | | | | Quoting VirtualScot: Quote:
Quoting Winston Smith:
Quote:
I was Scott and a number of bad things happened and then fed off each other til it took on nightmare status.
What the stock market giveth, it can also take back
I take as the interest rates dropped you where advised to invest in stocks? My father passed in 2006. leaving me a sizable ammount of cheese. So this "finanical advisor" from my insurnace company shows me this plan to re-invest everything and how if I do I can create a money-stream and retire right now. Sounds awesome, but that old saying of "if it sounds too goods to be true" kept ringing in my head and I passed, holding almost everything in cash despite everyone saying inflation would eat me up and all that. Well, that was mid-2007, we all know what happened after that. Thankfully I was on the sideline for the slaughter but I sincerly feel for those who weren't, esp. people who just trusted the market to secure a retirement or nest egg. The bastards behind it all should be publically executed, with live pay-per-view for those who can't make it. Then we charge a small fee for each execution, and all the money gets paid back! |
| | Registered: March 10, 2009 | | Posts: 2,248 |
| | Posted: | | | | Quoting bigdaddyhorse: Quote:
Quoting VirtualScot:
Quote:
Quoting Winston Smith:
Quote:
I was Scott and a number of bad things happened and then fed off each other til it took on nightmare status.
What the stock market giveth, it can also take back
I take as the interest rates dropped you where advised to invest in stocks?
My father passed in 2006. leaving me a sizable ammount of cheese. So this "finanical advisor" from my insurnace company shows me this plan to re-invest everything and how if I do I can create a money-stream and retire right now. Sounds awesome, but that old saying of "if it sounds too goods to be true" kept ringing in my head and I passed, holding almost everything in cash despite everyone saying inflation would eat me up and all that. Well, that was mid-2007, we all know what happened after that. Thankfully I was on the sideline for the slaughter but I sincerly feel for those who weren't, esp. people who just trusted the market to secure a retirement or nest egg. The bastards behind it all should be publically executed, with live pay-per-view for those who can't make it. Then we charge a small fee for each execution, and all the money gets paid back! Did this plan involve derivative bonds? |
| | Registered: May 8, 2007 | | Posts: 823 |
| | Posted: | | | | Quoting bigdaddyhorse: Quote:
My father passed in 2006. leaving me a sizable ammount of cheese. So this "finanical advisor" from my insurnace company shows me this plan to re-invest everything and how if I do I can create a money-stream and retire right now. Sounds awesome, but that old saying of "if it sounds too goods to be true" kept ringing in my head and I passed, holding almost everything in cash despite everyone saying inflation would eat me up and all that. Well, that was mid-2007, we all know what happened after that. Thankfully I was on the sideline for the slaughter but I sincerly feel for those who weren't, esp. people who just trusted the market to secure a retirement or nest egg. The bastards behind it all should be publically executed, with live pay-per-view for those who can't make it. Then we charge a small fee for each execution, and all the money gets paid back! It all depends if we're talking equity or fixed here. There are funds of CD's that you can invest in, so you put it in one fund and it's all broken up so it stays FDIC insured. In mid 2007, CD interest rates were very high. If you put it all in that, you would have been great through the crisis. Same as having it in the bank. Most advisors will tell you that if you're going long term, you do need to have some equity to offset the effect of inflation, since in the long run (>20 years), stocks always go up. | | | | 99.9% of all cat plans consist only of "Step 1." |
| | Registered: March 13, 2007 | Reputation:  | | Posts: 6,635 |
| | Posted: | | | | Insurance annuities were another popular vehicle. A friend of my brother's got my mom into one of those. When I found out I fired the guy and and got her out of it before the collapse of AIG and others. As was said earlier, when you're told a story that sounds too good, you can bet it is. I've been invested int he stock market for 30+ years and have done and am still doing quite well. The trick is to invest in dividend blue-chip stocks, not the latest fad! Although this strategy has worked well for a very long time, I would not advise it for anybody today. If we have a complete economic collapse, the stock market, in any stocks, will not be the place to be. The only safe bet is to buy gold! | | | | Hal |
| | Registered: June 21, 2007 | | Reputation: | | Posts: 2,621 |
| | Posted: | | | | The dude wanted to put it all in high risk, high yeild stocks. I would be broke had I done it, at the very least I would've lost half. No diviritives. Another guy tried to put me in an annuity even though I wasn't 40 yet. When the annuity salesman didn't know I'd get penalized for early withdraw and I wasn't even 40 yet... so I can't touch my money until I'm 65?, no!.
Bad advice is easy to find, glad I didn't take any! Not that annuties are bad, they are great for older people and helped me and my father beforer he passed. They also made for an easy trasition of funds. |
| | Registered: March 10, 2009 | | Posts: 2,248 |
| | Posted: | | | | Quoting bigdaddyhorse: Quote:
The dude wanted to put it all in high risk, high yeild stocks. I would be broke had I done it, at the very least I would've lost half. No diviritives. Another guy tried to put me in an annuity even though I wasn't 40 yet. When the annuity salesman didn't know I'd get penalized for early withdraw and I wasn't even 40 yet... so I can't touch my money until I'm 65?, no!.
Bad advice is easy to find, glad I didn't take any! Not that annuties are bad, they are great for older people and helped me and my father beforer he passed. They also made for an easy trasition of funds. Dude might as well told you to go to a casino, and hit a roulette table. From experience never gamble! Especially roulette. | | | | Last edited: by ShinyDiscGuy |
| | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | This is my final, I hope, post. I came back be cause I hoped for a distraction from my train wreck. So far 2012 is just continuing what was started on 12/24/09 and even before. The same few people are involved and I don't need or want it. I will answer pms but otherwise I am done. More down than I have ever been in my life and no idea how to change it. What I know for certain is that I am weary and running out of strength to keep fighting. It's too big and out of control.  | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video |
| | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | One more post. You might see me lurking, maybe not, I don't know. Why I am posting this here, I don't know, except that I do have friends here. Trying to analyze my feelings, it's hard. Never have I felt so alone and so utterly devastated. Even those of you whom I have shared some of this with cannot imagine the full impact of the last 2 years. The joy and laughter, things which I cherish, are almost completely gone from my life. Depressed oh hell yes, anything else, probably, but I don't want to go there. I have lost 75 pounds in the last 12 months... Not by choice. Even now at what seems to be the lowest point of my 61,years there are things which I won't talk about, they are far too dark and scare me that they are even part of my consciousness. The good need, if there is such a thing, I work 6 am to 9 pm. 15 hours, at 61, and it pleases me a little.  Signing off. | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video | | | | Last edited: by Winston Smith |
| | Registered: March 18, 2007 | Reputation:  | | Posts: 6,456 |
| | Posted: | | | | I don't even know you, yet I am at the point of tears. I will pray for you and hope that somehow you get help. | | | Thanks for your support.
Free Plugins available here.
Advanced plugins available here.
Hey, new product!!! BDPFrog. | | | | Last edited: by mediadogg |
| | Registered: March 13, 2007 | | Reputation: | | Posts: 17,330 |
| | Posted: | | | | I hate to see anyone have a hard time of it. I know what it is like to be in a deep depression. You will be in my thoughts and prayers. | | | | Pete |
| | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | Thanks guys. | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video |
| | Registered: August 23, 2008 | | Reputation: | | Posts: 1,656 |
| | Posted: | | | | Forum Moderator: Removed | | | Reviewer, HorrorTalk.com
"I also refuse to document CLT results and I pay my bills to avoid going to court." - Sam, keeping it real, yo. | | | | Last edited: by Forum Moderator |
| | Registered: March 14, 2007 | | Reputation: |  Posts: 4,625 |
| | | Registered: August 23, 2008 | | Reputation: | | Posts: 1,656 |
| | Posted: | | | | Forum Moderator: Removed | | | Reviewer, HorrorTalk.com
"I also refuse to document CLT results and I pay my bills to avoid going to court." - Sam, keeping it real, yo. | | | | Last edited: by Forum Moderator |
| | Registered: March 13, 2007 | | Posts: 21,610 |
| | Posted: | | | | Forum Moderator: Removed
I am struggling as I have never had to in my entire life and sometimes it weighs extremely heavy on me and I don't seem to be gaining any ground. | | | ASSUME NOTHING!!!!!!
CBE, MBE, MoA and proud of it.
Outta here
Billy Video | | | | Last edited: by Forum Moderator |
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