Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-18-2008, 05:32 PM   #21
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by novaman View Post
No but I soon might be gaining membership into the "I lost at least a million" club
It's not that bad, join us.
__________________

__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-18-2008, 05:34 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,032
Quote:
Originally Posted by novaman View Post
No but I soon might be gaining membership into the "I lost at least a million" club

Between the real estate decline and the market decline I may join you .
__________________

__________________
Moemg is offline   Reply With Quote
Old 11-18-2008, 06:21 PM   #23
Recycles dryer sheets
shotgunner's Avatar
 
Join Date: Jun 2008
Posts: 454
Is this a club I want to be in? Nope but hear I am. FireCalc said I was good when I was over $1M and still good under $1M. I have 10 years cash if I need it so I am trying to ignore the current storm and enjoy my life , decompress and firgure out if I want to stay Semi-RE or try the full version. Right now I like working 4 hours a day. No way will I work 8 again unless living in a cardboard box is a looming reality.
__________________
Never surrender what you really want for what you want right now.
shotgunner is offline   Reply With Quote
Old 11-18-2008, 06:30 PM   #24
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Isn't a million bucks just like sex? "I never had a million bucks with that brokerage."

I spend like I have a million at a 4% SWR. Works for me.
__________________
CuppaJoe is offline   Reply With Quote
Old 11-18-2008, 06:56 PM   #25
Thinks s/he gets paid by the post
frayne's Avatar
 
Join Date: Oct 2002
Location: 19th Hole
Posts: 2,529
I too became a member this year but I'm sleeping like a baby. Waking up every two hours and crying myself back to sleep.

Not really but this market is beginning to really piss me off.
__________________
frayne is offline   Reply With Quote
Old 11-18-2008, 07:11 PM   #26
Thinks s/he gets paid by the post
 
Join Date: Dec 2007
Posts: 4,764
Eh Im ok. Ive been in worse places. Like not eating or not having a roof over my head. Now I got this awesome internet and this tasty beef jerky and tequila at my desk. Life is good.
__________________
Notmuchlonger is offline   Reply With Quote
Old 11-18-2008, 07:37 PM   #27
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
Quote:
Originally Posted by Nords View Post
Many times! As far as I can tell, the only membership advantage is higher taxes.

One of our local entrepreneurs has a refreshing "easy come, easy go, I'll make more" attitude about his net worth. He was an exec in a 1990s Internet startup that went public in the low teens and ended the day at $125/share. He was pretty happy about it, but three months into the six-month lockup his shares were worth $1 each.


Quicken has a net-worth feature that can include personal-property assets. Or you could roll your own spreadsheet.
The easy-come-easy-go attitude is a required attitude for risky work like entrepreneurship, and I used to think that I would never be able to have that attitude. The silver lining I'm discovering in this downturn is that I'm not as loss averse as I had imagined.

New research in portfolio management is highlighting the importance of considering human capital in the context of portfolio management. I'm surprised by some of the graphs I have seen in the CFA text because even at my advanced age, I apparently still have the vast majority of my human capital ahead of me, so while the losses have been house sized this year, in the overall context of human capital + financial capital, the losses aren't so bad.
__________________
BunsGettingFirm is offline   Reply With Quote
Old 11-18-2008, 08:22 PM   #28
Recycles dryer sheets
 
Join Date: May 2006
Posts: 442
Quote:
Originally Posted by Moemg View Post
Me either !
Yea, I got kicked out too.
__________________
dmpi is offline   Reply With Quote
Old 11-18-2008, 08:25 PM   #29
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Whatever happens do not let the Norwegian widow out of your sight.

That's my story and I'm sticking to it.



heh heh heh - .
__________________
unclemick is offline   Reply With Quote
Old 11-18-2008, 08:37 PM   #30
Full time employment: Posting here.
dessert's Avatar
 
Join Date: Jan 2007
Location: Southern Louisiana
Posts: 517
I'm a member too! I don't count property or other assets...only funds.
I'm getting numb to the losses now. When the DOW goes down only a couple hundred in a day, we celebrate like it was a good day.
When it goes up a couple hundred a day, we say "yeah right, just watch it tomorrow.
I still think and hope that it will go up again and we'll be back. Don't think that will happen though until jobs level out and start going up again.
__________________
dessert is offline   Reply With Quote
Old 11-18-2008, 09:13 PM   #31
Dryer sheet aficionado
 
Join Date: Mar 2005
Posts: 44
Quote:
Originally Posted by Texarkandy View Post
You say that like there's something wrong with living in Tennessee? :confused:
Not if you live in Texas.
__________________
talltrees is offline   Reply With Quote
Old 11-18-2008, 09:43 PM   #32
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
I was only in for a short time, so it was more like being a visitor than a member.

A few more upticks in the market and a little more savings should allow me another visit.

It will be a good feeling going up when this is all over.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Old 11-18-2008, 09:44 PM   #33
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,905
Quote:
Originally Posted by free4now View Post
I recently became a member of the no-longer-millionaire club. I may have to change my forumid to "free4notmuchlonger". I will say it has been an invigorating time... the threat of the death of my FIREhood has energized me to get cracking on all the things I want to do with my free time, and rather than sleepless nights I'm coming home exhausted and falling asleep instantly from doing so many good things in my days. But it feels like it may be the end of an era.

Anyone else joined the club?
Funny how perceptions change: when I joined the ER club in December 02 my invested NW (net of houses, cars, underwear and such) was just shy of $1M and I was full of hope for the future (thinking the 2000-2002 period was just a bump in the road etc). All the retirement calculators showed I would be fine. So time moves on and the NW zoomed up 2003 to 2007 and over the last couple of months way down and now its back to just a little better than back then. Big difference is my optimism then has turned to dread/fear now... (Although the retirement calculators show I'm still OK at 4% WD)

So I do wonder is this the end of the ER era when a lot of "normal" folks that followed a LBYM lifestyle and followed a reasonable AA diversified investment path could be fairly certain that ER was a very reasonable option?
__________________
ejman is online now   Reply With Quote
Old 11-18-2008, 10:04 PM   #34
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,247
Quote:
Originally Posted by novaman View Post
No but I soon might be gaining membership into the "I lost at least a million" club
I'm a card carrying member of this club. Guess it hurts me more than kumquat...but I'm still accumulating, and not selling (until late this year to harvest some losses to off-set any cap-gains distributions, then jumping right back in), so I figure the losses are just "paper". Funds for ER still over a mil though, not counting homes (no mortgages). We'll be OK, knock on wood...

R
__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 11-18-2008, 10:27 PM   #35
Recycles dryer sheets
 
Join Date: Nov 2007
Location: Central Oklahoma
Posts: 64
In so many ways, I am fortunate....but lately, I have to try really hard to convince myself. Portfolio(equities) is dismal, cattle market has tanked.
Thankfully my bonds (GNMAEs) are doing great and the real estate is holding. Ooooh, how I long for the good ol' days - when frugality was an option, as opposed to, a necessity.

Sigh.
__________________
slimm is offline   Reply With Quote
Old 11-18-2008, 11:56 PM   #36
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,384
Quote:
Originally Posted by ejman View Post
Funny how perceptions change: when I joined the ER club in December 02 my invested NW (net of houses, cars, underwear and such) was just shy of $1M and I was full of hope for the future (thinking the 2000-2002 period was just a bump in the road etc). All the retirement calculators showed I would be fine. So time moves on and the NW zoomed up 2003 to 2007 and over the last couple of months way down and now its back to just a little better than back then. Big difference is my optimism then has turned to dread/fear now... (Although the retirement calculators show I'm still OK at 4% WD)

So I do wonder is this the end of the ER era when a lot of "normal" folks that followed a LBYM lifestyle and followed a reasonable AA diversified investment path could be fairly certain that ER was a very reasonable option?
If you think the people here are normal, go over to the thread about gloves.

Extremely frugal people with good jobs have always been able to get free, and that will continue to be true.

Quote:
Originally Posted by Texarkandy View Post
You say that like there's something wrong with living in Tennessee? :confused:
You ever hear of a Tennessee Massage? 'Nuff said.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is online now   Reply With Quote
Old 11-19-2008, 12:23 AM   #37
Recycles dryer sheets
knucklehead 61's Avatar
 
Join Date: Nov 2008
Posts: 136
i have lost somewhere between 500-750k between the stock market & real estate equity in the last year. i was hoping to retire in 3 years at 45, but now may need to w@#k a couple more years longer.
__________________
knucklehead 61 is offline   Reply With Quote
Old 11-19-2008, 12:31 AM   #38
Full time employment: Posting here.
 
Join Date: Nov 2005
Posts: 828
Quote:
Originally Posted by free4now View Post
Anyone else joined the club?
As an income-oriented investor, this isn't the question that I like to ask. Acquiring a high-maintenance, high-ongoing-expense item like a mistress or sports car can do as much damage to free cash flow as suffering a capital loss. I prefer to look at more than just net worth when evaluating my financial condition. That said, my portfolio is down only 4% from the market peak last year, primarily because it was engineered to be low-risk, low-return (after taxes and inflation). The latest market turmoil only reinforces my preference for the slow-and-steady-growth approach to wealth building over the soar-and-crash approach.
__________________
socca is offline   Reply With Quote
Old 11-19-2008, 12:43 AM   #39
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
I was never close, but I've gone from a 450k NW to a 250k NW over the last 12-18 months - and that's including home equity. On the plus side(?) home equity went from the vast majority to not close to half my NW. If you ain't properly diversified, don't worry, the market will make it happen for you.
__________________
laurence is offline   Reply With Quote
Old 11-19-2008, 12:53 AM   #40
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 1,905
Quote:
Originally Posted by haha View Post
If you think the people here are normal, go over to the thread about gloves.

Ha
Help me out here. Which thread be that?
__________________

__________________
ejman is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Oxford Club: Scam or Something Else education Other topics 13 05-25-2011 07:54 AM
Century Club yakers Travel Information 29 03-10-2008 08:32 AM
Can't Join the ER Club Yet! Jane_Doe FIRE and Money 8 05-06-2007 03:31 PM
Have you joined this club yet? mickeyd Other topics 3 06-20-2006 09:07 PM

 

 
All times are GMT -6. The time now is 10:40 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.