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Old 08-03-2018, 06:08 PM   #21
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I was lucky enough to work for a company that continued to give yearly raises and bonuses and did not have layoffs. I increased my 401K contribution rate from 15% to 20%. 10 years later, I'm counting the weeks until I retire. Currently I'm prepared for a 25% drop, but couldn't stomach much more.
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Old 08-03-2018, 06:11 PM   #22
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September, I most likely was bow hunting really don't remember all the financial dilemma now. I do know nothing changed for me kept buying never changed one thing and didn't sell or move anything.

In those years I really didn't worry or listen to what was happening in the financial world. I stayed the course and didn't loose any sleep.
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Old 08-03-2018, 06:16 PM   #23
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Where was I in Sep 2008?

Oh, about 20% down from my portfolio highwater mark in Oct 2007.

Of course I did not know then that there was still more pain to follow.

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Originally Posted by audreyh1 View Post

29: Congress rejects a $700 billion Wall Street financial rescue package, known as the Troubled Asset Relief Program or TARP, sending the Dow Jones industrial average down 778 points, its single-worst point drop ever...
My diary said that the S&P went down 8.8% that day, compared to 7% for the Dow. That 8.8% was matched by the Nasdaq.
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Old 08-03-2018, 06:19 PM   #24
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Where was I in Sep 2008?

Oh, about 20% down from my portfolio highwater mark in Oct 2007.

Of course I did not know then that there was still more pain to follow.



My diary said that the S&P went down 8.8% that day, compared to 7% for the Dow. That 8.8% was matched by the Nasdaq.
It was such a huge drop that day!
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Old 08-03-2018, 07:07 PM   #25
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I was 47 and working. Worked in health insurance. Generally I worked in healthcare administration my entire work life. It was good to me in the late 80’s and it save my butt in 2008 as well. The genius in me knew things were wrong (yeah, right, meba genious) so I pulled most of my money from the market. Hardly lost anything. Now for the sad part. As they say, you have to make two good decisions. My loss was getting back into the market too little too late. Did alright, but would have done better if I was fully invested before 2008 through today. My reluctance to get back in also affected my contributions into my 401k. Kind of a double whammy.

Now I do my best to focus on and stick with a proper AA.
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Old 08-03-2018, 07:11 PM   #26
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I retired the end of January 2008 so I was watching my investments drop like a lead balloon and questioning my decision to retire .
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Old 08-03-2018, 07:13 PM   #27
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Oh, one other thing. Not to be smug, but there was a bit of told you so when I saw people losing their houses. We never bought a McMansion and never for one minute worried about losing our house. Also picked up a small ranch for DD in foreclosure and have done well on that. LBYM paid off, but I can’t deny it would have been fun to live large for awhile. We never did, just comfortable, which we are very thankful for.
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Old 08-03-2018, 07:27 PM   #28
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I was 18 months into retirement and calmly getting through the crisis. Actually my signature reflects my mood at the time.
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Old 08-03-2018, 07:40 PM   #29
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I was 18 months into retirement and calmly getting through the crisis. Actually my signature reflects my mood at the time.
Right!

Everybody at that time, if they are still here, will remember you as the poster who used the most in his posts.

PS. At that point, I was both scared and excited at the same time. I had a lot of cash, and wanted to deploy it. Yes, I did buy some in the late 2008 and early 2009, but did not go all in. And then, I was selling too soon when the market recovered in mid 2009, instead of keeping all my purchases.
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Old 08-03-2018, 08:04 PM   #30
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We both kept our jobs. I worked for a financial company and we would "jokingly"-or not-- wonder if our key-cards to get into the office would work the next day. But even then I continued to get a raise and bonus (tiny).

One thing I had not planned on--I had been buying stock through our ESPP for our kids cars who were turning 16 in 2008 and 2009--ouch!! Everything was going well until then.

So I "doubled down" and bought a much larger percentage of company stock. It went up and made back my loss and more--but the kids had to wait an extra year+. One had to suck it up and use mom's Mustang convertible for a year.

Our stock went from about $100 in 2005 down to $3. On that date it doubled to $6 and still is nowhere near its high. Goodbye stock options.
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Old 08-03-2018, 08:05 PM   #31
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Our stock went from about $100 in 2005 down to $3. On that date it doubled to $6 and still is nowhere near its high. Goodbye stock options.
Ouch! Horrendous!
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Old 08-03-2018, 08:21 PM   #32
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I was working with no idea about ER. I rolled a portion of my retirement from Megacorp to a IRA as I watched the 10k shares of company stock drop from 80->20.I don't think I recall how much fear there was. I still felt secure with a comfortable job maxing out my 401k and Roth.
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Old 08-03-2018, 08:43 PM   #33
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I was working. The company suffered financially and raises stopped. But really Sept of 2008 was not the Sept that had the biggest impact on me . . .
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Old 08-03-2018, 09:05 PM   #34
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my mother had died the year before and she had power-of-attorney over her nursing home domiciled sister ( i failed to gain the power-of attorney for her but that is another story )

so i am basically sitting watchdog on Auntie's residence and possessions without any official status HOWEVER since the Federal government were unwilling to retrieve their property from the residence ( Auntie was a a 20 year plus federal government employee/branch manager ) i got to unofficially ignore many federal laws ( can't touch it , can't read it , can't 'possess it ' , can't sell it , can't abandon it , can't let the public see it , and can't destroy it ... and the powers that be are too fat and lazy to collect it , and of course i was only able to STRONGLY SUGGEST that the various departments should come and safeguard their documents and assets without admitting what i was watching over )

including some interesting keepsakes from WW2 ( from her wartime service )

apart from the fact i was going to inherit Aunties stock portfolio ( much to my amazement ) the GFC was the last thing on my mind , and the least of my worries .. i still had mum's house to sort out as well .

the UPSIDE was by 2011 i had inherited two estates a share portfolio property and cash and hit the investment market as possibly the luckiest novice you will ever meet ( i rejected the FA as conflicted advice straight up a fact the government is now acknowledging via two official inquiries )

in fact the last decade was so exciting i forgot to have a mid-life crisis ( so am still looking for that cutie , LOL )
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Old 08-03-2018, 09:33 PM   #35
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Was just hitting peak earning with mortgages paid off a couple years earlier and really just starting to invest serious dollars in the market. Couldn't have happened at a more fortuitous time for me. I guess one or two years earlier would have been slightly better. Having been a lightweight investor during the tech bubble it evoked more feelings having more skin in the game but it was hard to think that the drop was going to be a bad thing personally. 666 turned out to be the magic number but only in retrospect. Slow and steady usually wins the game.
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Old 08-03-2018, 09:46 PM   #36
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Prior to September 2008 I was on track for ER in 5 years when I would turn 55.

September 2008 was terrifying. My AA was not appropriate for someone who wanted to retire in 5 years, so my paper losses were huge. I could not believe what I was reading in the news, and each day was worse than the previous day. Sales at my MegaCorp stagnated during the next few months as the companies that were our customers cut back on spending or went out of business. For the first time in my career I seriously worried that the company might not survive and my job would disappear.

At the bottom in 2009 I looked at my account balances and revised my retirement date to age 58 (2016) but uncertain whether I could recover by then.

Fortunately the recovery was strong and rapid. I managed to ER at my originally planned age of 55.
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Old 08-03-2018, 09:58 PM   #37
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The recession is what made my retirement, through the housing crash
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Old 08-03-2018, 10:10 PM   #38
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I was very ignorant of proper diversification. When the market crashed, I said to myself- if I am going to lose my money, I am going to lose it on company stock. Rolled everything into company stock. Huge bonus in December, which all went into company stock. Big raises, which were put into increased contributions in the 401k. Company stock doubled in the next few years, which was a massive improvement over what the Dow or S&P did. In many ways, my wages going exponential plus the crash in 2008 helped put us solidly on the path to financial independence. I was too busy traveling around the world trying to clean up my little corner of megaCorp to really notice what had happened.
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Old 08-03-2018, 10:20 PM   #39
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15th year of ER having been ballpark 60/40, Boglehead convert for a long time AND having gone more or less full auto via Target Retirement index fund in 2006 I 'stayed the course'.

heh heh heh - investor since 1966 I stayed calm Right? Nope. Gervous and Nerky I lurked on Bogleheads, here and other other forums, piddled with a few good stocks and watched football. Thus stalling my way to victory. Love the smell of full auto index funds.
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Old 08-03-2018, 10:30 PM   #40
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Where was I in Sept 2008? I was getting married and on my honeymoon, starting September 6th. We had no clue what was going on.
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