Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Londo who wrote (45282)	7/29/2001 8:39:20 PM
From: ajtj99	Read Replies (5) \| Respond to of 56535

Good point, Londo. We're getting ready to let go our VP of Sales & Marketing in September. He was told 2-months ago that it might be a good time to look for another job, giving him a somewhat soft landing. He deserves worse, but we're not jerks. Last year the idiot, despite a somewhat tenuous job situation, tripled his mortgage and got a jumbo loan on a new house on a golf course. He probably barely qualified for it. I can see him losing that house and putting his family through utter chaos, including the possibility of divorce (he's got 2-kids under 12). The prudent thing to do would have been to make certain he could survive a 6-months without a job, and possibly even get by for a year. Nope, hubris reigned, and he's going to probably take his whole family down as a result (it was going to happen anyway, so I guess its just as well to get it over with now). I don't have a lot of sympathy for people who make these kinds of boneheaded decisions. There are plenty of reasons why a person should live within their means, but some people don't see it until they get their lives turned upside down. My dad's parents lost several houses in the Great Depression, including one instance when they moved across the street. He never forgot that experience. It affected his financial dealings the rest of his life. As a result, he's been fairly comfortable and had pretty successful kids as well. There is something to be said about living within your means, and that includes being unafraid of paying down a mortgage.