Quote:
Originally Posted by Hitch
If I had ONE thing, and one thing only, that I could redo, I'd save more and have invested less. Investment sounds fabulous, but I managed to catch not one, but two bad curves or waves; the S&L Crisis (Real estate) in 89-90-91, and lost a small ton of money (6 digits, and it hurt), and of course, the '08 crash, at which time I had stocks.
Do I think that savings return very little, in terms of growth? YES. Do I still wish I'd saved more and invested less? YES.
I don't know about your neck of the woods, but here, I could not manage to live on welfare. Simply could not.
I confess, I've never been on welfare here, but I don't imagine that it's a lot different. After all, as we agreed, it's a safety net. It's not really intended to preserve your savings, if you lose a job. "Safety net" doesn't mean "I don't want to use my money to live on." it means, "I need help." No?
Can you freelance, as a self-employed person? Any options for that? (If this is too personal, I'll drop it. I'm not trying to be nosy about your circumstances.)
Hitch
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Or lost everything in the oil bust almost 30 years ago and had to start all over with nothing and a new job in a different field. Took over 20 years to finally not be living hand to mouth.
So to the one complaining put some money back while you are in your younger years.
Younger being anything under 40.
That $20 you just spent on booze or cigarettes adds up quickly or whatever your vice may be. Put at least 50% in a savings account.
And wish I had taken my own advice years ago.