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Old 01-20-2009, 08:14 PM   #21
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Hey VA - we've all had our hard knocks in different ways and learn so much from each other because of our different experiences. Keep the faith, good luck, and I hope to read more of your posts very soon.
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Old 01-20-2009, 09:45 PM   #22
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Good luck VA....and to the rest of us....
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Old 01-20-2009, 09:52 PM   #23
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VA, not a good story, sorry.

As far as being precluded from the board. I can tell you the the membership bar is set so low they let me in. So stick around we can use you.
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Old 01-20-2009, 10:00 PM   #24
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I hope you keep posting. I think your progress back from RE would be helpful.

I'm sorry about your investment results and can't imagine how it feels to see the dividends just disappear.

Godspeed.
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Old 01-20-2009, 10:12 PM   #25
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VA, stick around, we really appreciate your perspective, and I am very sorry for your loss. Thank you for your many contributions, and for sharing your story.

I'm nowhere near FIRED, and won't be for many years...please join me for years of complaining about w*rk.
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Old 01-21-2009, 12:35 AM   #26
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VA, thank you for your honesty and I hope you decide to stick around.

I was just having a convo with a co-worker the other day concerning Bank of America's financial status and the fact that her mom (a BofA employee) was 'all-in' for her retirement on BAC common stock. In fact, my co-worker also made a large stock purchase of BAC at cost basis of around $12 per share, though she was dismayed that it dropped to $10 only days later. VA, I would surmise that there are actually many BofA employees or former employees in this same boat.
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Old 01-21-2009, 05:58 AM   #27
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VaCollector
Normally I won't give advice, but I will in this instance. STAY.
We've all taken a hit, but we'll all do just fine. This Board isn't only for those who have amassed tens of millions, or have 3 or 4 cola'd pensions, but for all of us other fools who work, live, save, invest, win, lose and commiserate or otherwise get together here and express our thoughts and ideas. You belong.

Uncle Mick, you crack me up, never heard of cheap basterdhood before....so why not take the movies out from the library for free.....free is good.

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Old 01-21-2009, 06:13 AM   #28
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VaCollector,

Sorry about your loss. Our ER has been postponed indefinitely due to the recent market downturn. Hang in there!

Spanky
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Old 01-21-2009, 07:10 AM   #29
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Va, stick around! I'm so sorry for your loss, but you have done a service to share it with us.

Good luck.
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Old 01-21-2009, 08:01 AM   #30
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Any chance it will go back up?
I remember back in the dot.com bubble a lot of the people I worked with at LU had their entire portfolio in LU stock. Had people who were going to retire with 800-900K end up with just about nothing.
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Old 01-21-2009, 08:48 AM   #31
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If I were you I would figure out a way to take the losses even if you get back into the market in 32 days. Maybe something like BAC to XLF for 31 days then back to BAC just an idea it might help you on taxes. Or another bank stock that falls and rises like BAC. On a positive note you have a large tax write off.
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Old 01-21-2009, 09:06 AM   #32
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I feel your pain. Hindsight is 20/20-- you can't beat yourself up over it. Try to forget it and move on.

I'll try to make you feel better: I had an offer for my auto dealership back in early 2007 for 1.3M and turned it down because I could make that in about 3 years at the rate we were going. Now it's pretty much worth nothing. See, we all do stuff that looks stupid in hindsight!
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Old 01-21-2009, 09:15 AM   #33
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after all, what does someone like me really have to offer the savvy investors that hang out here....sad....but true!


VaCollector
I'm nowhere close to being a savvy investor. In fact, I've realized that my risk tolerance is ZERO. I read other folks' advice and experiences here and think if I had any guts maybe I should try a stock or mutual fund. And then everything changes and I'm back to being a chicken and holding on to my few fragile little eggs.

I'm so sorry for your sudden change of plans. This kind of stuff should not happen to anyone.
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Old 01-21-2009, 09:19 AM   #34
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on a small scale - we don't have much stock, but last year i started buying BAC because it was soo cheap at $34 and had that big dividend. Then bought more at $25. And more around $22. Then i tried to tax loss harvest, but sold less than 30 days after buying. Oops. That wasn't so smart. My honey is not real impressed with my stock acumen. We're way overloaded in real estate - Gonna ride the ponies we came with till they die. BAC & RE too. Good luck, and stick around...
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Old 01-21-2009, 09:39 AM   #35
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Originally Posted by Sue J View Post
I'm nowhere close to being a savvy investor. In fact, I've realized that my risk tolerance is ZERO. I read other folks' advice and experiences here and think if I had any guts maybe I should try a stock or mutual fund. And then everything changes and I'm back to being a chicken and holding on to my few fragile little eggs.
Risk-1.jpg
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Old 01-21-2009, 02:07 PM   #36
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VA, don't know if you sold the BAC or not, but I was thinking about your situation and checked on BAC today and saw that it was up 24%! I hope you benefit from the bump.
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Old 01-21-2009, 02:43 PM   #37
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Keep posting!!! With the bump today, maybe take some off the table........
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Old 01-21-2009, 05:05 PM   #38
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VACollector,

Sorry to hear about the financial loss. I appreciate you sharing your situation. Hopefully others will learn from it.

Good luck as you enter the work force. I am sure the skills that made you a success before you FIRED will make you a valuable employee to your new employer.
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Old 01-21-2009, 05:19 PM   #39
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Then i tried to tax loss harvest, but sold less than 30 days after buying. Oops...
Calmloki, it's OK to claim the tax loss. Wash sales restriction only applies if you sell a stock for a loss, then buy it back within 30 days. Uncle Sam frowns upon transactions done purely for tax reasons, meaning people converting a paper loss into a "real loss" for tax deduction, then buy the thing back. If you never rebought the same stocks, then the rule does not apply.

In fact, say if you made a mistake and bought the thing back within 30 days of selling it. You can now sell it again (the 2nd time). If you did not buy it back the 3rd time within 30 days, then the total net loss of the 1st time sale and the 2nd time sale can be added and claimed.
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Old 01-21-2009, 07:43 PM   #40
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VaCollector I sure hope you stayed in because you got back 31% of your nest egg today! A few more days like that and you can stay retired.
Good luck....
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