Disasters, anxieties, sensible goals

[Lsbcal]

Lbscal, so glad you are safe and sound. The Redwood complex fire north of you in Mendo County, where we live, was devastating for many, where Redwood Valley saw 8 confirmed dead and over 200 houses lost. I know about anxiety, as it runs in my family. I seem to have the diluted form, thankfully. Not on any drugs for it. We did lose our nerve during the last 2009 downturn, but recovered, and are now at an asset allocation that lets us keep up with inflation, while also letting us sleep well at night. Best of luck to all of us going forward!

I hope Mendocino people can recover from their losses. Best of wishes on that.

Yes, that (the blue text) was what I was thinking about for this thread. Somehow the fear of losing our house coupled with displacement has brought back memories that are almost impossible to simulate. That is, you look at the numbers and they do not quite push your emotional buttons. Real events sure do.

Most of us are more driven by fear of loss then joy of gains. But in a long period of good markets, that fear can fade.

Thanks again for all the nice comments from everyone.

 

[walkinwood]

The pictures of block and blocks of burned out houses are horrifying.

I was talking to a friend about 2008-09 earlier in the week. The good thing about our minds is that we (usually) forget, after a while, just how bad we felt. We remember that we felt bad, that the anxiety kept us awake, but, thankfully, we can't feel it with the same intensity.

Hopefully, your anxiety will diminish and come to normal levels soon.

 

[Lsbcal]

Walkinwood, yes it is a great defense mechanism to push out anxiety by forgetting. The key thing is to use that memory (maybe before it fades) to select the right actions for possible future events. And then actually do those actions.

In the case of fires those actions would include fire mitigation (shrubbery, trees), evacuation lists and plans, insurance documents, etc. In the case of investments, that would include being realistic about one's AA, especially as one ages and circumstances change and also selecting investments that are diversified and sensible.

 

[MRG]

OP,

Glad you're ok. It's easy to say it's only stuff. It is but....

I've seen a couple people lose everything to fire. One surprised the FD when he came home as they were searching for his body. The boiler below his apartment had exploded.

The other was a guy who was just told he'd lost his business investments, was fired that morning. That evening his home caught fire. When the volunteer FD arrived they didn't know how to operate the brand new pumps for ponds. They watched the home burn.

We used to live in tornado country, never saw one but they were on our front 20 acres. It's scary but it is stuff, most can be replaced.

 

[RobLJ]

Yep, my knee went out a week before hurricane Erma and needed surgery which hindered my preperations. I just had the surgery last week. When people stress test their portfolio or strategy they need to consider a medical disaster at the same time. Maybe a serious car accident or job layoff.

I'm in Reno, not too far from the Cali fires, and I'm glad that Lbscal (or whoever) told off the smuggist; it's always easy to be philosophic about others' losses, as opposed to our own.
Growing up in Oklahoma with tornadoes and working in Houston (flood and Hurricane), the possibility of losing the house was always on my mind, and my twin inherited a myclonic disease so Death always seemed at the edge of my left eye and over my shoulder. That said, I think the only things I would really regret are my books, my pictures and my music. I've sent the latter two off to the cloud; I guess 30k would replace the books--but new ones would lack my marginalia! The books would be a real blow. But it is a thought well worth considering--the loss of everything.
Such a tragedy for our friends in Cali. I can't really fathom the thinking that anyone got their just deserts in this--if at least you take a second to consider how you would feel.
I wish Cali and Florida and Houston and Puerto Rico and the Virgin Islands (they're all the US) well; we've contributed--but not nearly enough.

 

[MarieIG]

On the horrible side,
I had to leave the gym early Tuesday because in my zuumba class there was a young lady was spouting how she did not feel sorry for the folks in California because they are all "rich" and "spoiled" and Now they know how poor people live.



Three cheers for you bclover !!!

 

[meierlde]

As noted for digital assets a couple of usb flash drives kept off site are a good idea (business IT keeps backups off site all the time). They are small enough to go in a safe deposit box, or at a relatives house. Keeping all your important documents in a box that is easy to grab when needed is a good idea as well. (also figure on grabbing the laptop)

 

[Teacher Terry]

6 years ago fire came very close to burning down a good friend's home on the day of the funeral service for her 19 yo. We got her 4 dogs out and Hannah's ashes. Those were the only things she cared about. Thankfully the fire did not take her home.

 

[Moemg]

I retired in 2008 and lost over 30% of my portfolio but that was nothing compared to the stress of Irma .If Irma had hit as a category 4 or 5 and my house was destroyed I am not sure if I would rebuild or just walk away .