Anybody Buying Yet? Where’s the Bottom?

[El Jason]

No way. I worked for a living.

That’s what I thought.

 

[Jack Ryan]

When you work for the money you are investing, you are a lot more careful with it.

 

[Treeshark]

When you work for the money you are investing, you are a lot more careful with it.

I’m not so sure about that, take a look at statistics on who plays the lottery the most.

 

[BigHornRam]

That math get a bit fuzzy too though/ if said person spent $10k on that hunt when they were 40, it has an opportunity cost of about $100k when they are 60.

*assuming the alternative was investing it in an S&P 500 index fund (which is way less cool).

They were closer to 30k when I turned 40. 15k when I first started looking around 1996. Buzz is 60. He should have a wall full.

 

[406dn]

Is Stone's sheep addiction an acceptable reply?

That might be a red flag for a Bernie Madoff situation.

 

[Jack Ryan]

I guess there are exceptions to every rule.

Far working or being and investment advisor, I've never said, wrote or implied any different. Clearly talked about conversations around the TOOL BOX and break area. But I was fully retired long before 60 and have never even considered looking another job, even turned down several offers.

I did "advise" my own children. Both of them owned their own fully paid for homes by about 30, have their own solid investment plans they can manage on their own. One of the two has a pretty good job in digital security. The other has an ok job, but she likes it so I guess it is a good job. She owns here house and doesn't owe any one, has her investments and she would have to work any where is she didn't want to.

I'm pretty proud of it all. No one inherited a nickel or won any lotteries. Just work, save, invest. Not a plan, not if, coulda or woulda. Just did it.

 

[Treeshark]

I did "advise" my own children. Both of them owned their own fully paid for homes by about 30,

I’m not saying that paying off homes early was the wrong thing to do, but the opportunity cost of that move over the past decade was huge. Had they invested that money instead they would be way ahead in terms of overall net worth.

However, there is something to be said about not having debt hanging over your head, and hindsight is 20/20. Past results do not necessarily predict future results.

 

[BuzzH]

They were closer to 30k when I turned 40. 15k when I first started looking around 1996. Buzz is 60. He should have a wall full.

No, I'm not 60.

I should have more than 4 rams that is true though. Turned down a stone hunt in 1995 for 6k...hunted dall that year for $4750.

Netted a B&C dall, which is a rare bird so didnt completely blow it. No doubt should have done at least 2-3 more back when they were cheap.

I'm pretty happy with the 4 that I have on my wall. No regrets.

 

[Pagosa]

Im the definition of living within your means and currently have a good job, but its not easy for people to raise a family and pay bills nowdays. Things have increased greatly due to quantative easing and free money printing under Bush, Osama, Trump, Obiden, and Dumpster 2.0. Its very difficult on a single person or single parents to ever get ahead, but we are light years more blessed than most of the other countries

 

[El Jason]

When you work for the money you are investing, you are a lot more careful with it.

This is a ridiculous statement. I’ve watched coworkers work hard for money and blow it.

I’m glad you were financially successful. This is turning into a dick measuring contest. I really don’t care what age you retired at. I’m happy you were able to.

 

[BuzzH]

Im the definition of living within your means and currently have a good job, but its not easy for people to raise a family and pay bills nowdays. Things have increased greatly due to quantative easing and free money printing under Bush, Osama, Trump, Obiden, and Dumpster 2.0. Its very difficult on a single person or single parents to ever get ahead, but we are light years more blessed than most of the other countries

The U.S. is not number 1 in many favorable catagories...which is counter intuitive considering the tremendous wealth.

Also counter intuitive is we are number 1 in many unfavorable categories.

Sure, we're light years ahead of Ethiopia, but we arent light years ahead of comparable countries.

 

[Treeshark]

The U.S. is not number 1 in many favorable catagories...

The veracity of this statement depends largely upon how much money you have (which could be argued is an indictment on its own).

 

[Doublegunner]

I’m not totally sure what this means. But I work in finance and the wealthiest people I analyze have loads and loads of debt. Total assets obviously outweigh, but the ultra wealthy have no aversion to debt.

Debt is one way to get tax breaks.