sometimes hard to stomach certain things when you have done your best to prepare and then watch those who didn't bother to worry, get bailed out, and worse, watch the bailouts or the lack of discipline and preparation penalize those who tried the hardest.
i know what you mean...
all of who have done our due diligence and prepared (to the best of our ability, no guarantee notwithstanding) are feeling more and more like schmucks and dupes
preparing for the worst
one of the best bits of advice i think i ever got from a financial resource was in reference to the 'three legged stool' of retirement planning...
one leg being a pension, the other social security, the last personal savings...
i was told to assume the first two would not materialize (at least not with the blue sky scenario) and assume that only personal savings would be the main source of income...
as far as stocks losing all value...yet another lesson in not having ones assets too highly concentrated in one investment vehicle...
no one really expected 9/11....we are not in the travel industry, but trust me, we have been negatively impacted as well....but...it does seem that each generation has it's unforseeable exogenous event that sucks the value out of assets of all classes...boomers i think had the tendency, generally speaking, to have the view of the rosy scenario...
the tech bubble wealth was an illusion, and unfortunately many saw that as the norm for returns on investment...
and i'm not so certain we have learned the lesson, as real estate has taken on the same kind of "can't lose" return....
perhaps katrina may open some eyes about that |
