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re: How did the 2008 financial crisis affect you?
Posted on 11/17/20 at 5:40 pm to CorkRockingham
Posted on 11/17/20 at 5:40 pm to CorkRockingham
Overpaid and bought a rental at the peak of the market,
but I could afford it,
and the rental history has been fantastic.
It's paid off now with little out of pocket,
so it worked out, I guess.
Work and income wise, I didn't even notice.
but I could afford it,
and the rental history has been fantastic.
It's paid off now with little out of pocket,
so it worked out, I guess.
Work and income wise, I didn't even notice.
0
Posted on 11/17/20 at 6:14 pm to CorkRockingham
Was lucky for a bit on Marathon GME as a contractor, then when that ended no one was hiring for capital work...went to Entergy as a contractor then they force hired me and I took a 30 percent paycut.....could barely afford my house so I took a job in Philadelphia and since then been to Chicago, Long Island and now back to Philly...finally giving up on ever getting back home....
Posted on 11/17/20 at 6:15 pm to CorkRockingham
quote:not at all. I was in oil. Price sky rocketed . Got paid $$$$ . Not so much now. :-/
How did the 2008 financial crisis affect you
Posted on 11/17/20 at 6:16 pm to CorkRockingham
I bought a beach front condo really cheap.
Posted on 11/17/20 at 6:17 pm to CorkRockingham
I was a sophomore in college so it didn’t really affect me. It took me a couple years after I graduated to find a decent job though.
Posted on 11/17/20 at 6:21 pm to CorkRockingham
My mutual funds tanked, but they’ve recovered and much more.
Posted on 11/17/20 at 6:25 pm to CorkRockingham
lost $40.00 it hurt
Posted on 11/17/20 at 6:26 pm to CorkRockingham
I was in Banking, boss called a meeting one day and let 400 of us go.
It was hell, went from making 90K+ a year to living on $750.00 a week.
Had a mortgage and a small child and nearly went bankrupt.
I got hired back a week after my unemployment ran out so I was out of work for six months.
Set me back 10 years at least
It was hell, went from making 90K+ a year to living on $750.00 a week.
Had a mortgage and a small child and nearly went bankrupt.
I got hired back a week after my unemployment ran out so I was out of work for six months.
Set me back 10 years at least
Posted on 11/17/20 at 6:28 pm to CorkRockingham
It probably helped me. My IRA took a big hit at the time but that allowed me to buy more shares.... I’m in the military so my job is recession proof.
Posted on 11/17/20 at 6:34 pm to fallguy_1978
quote:always pictured you as someone in a mid-level management position with a prominent plant operator. Just the persona I get from TD.
I worked in the financial industry but kept my job somehow.
Posted on 11/17/20 at 6:47 pm to CorkRockingham
Caused to me to learn about real estate bullshite, stock market bullshite, ninja loan bullshite, moral hazard bullshite, too-fat-too-fail bullshite and other forms of bullshite that I hate. It was a complete shite-show and a pain in the arse.
Posted on 11/17/20 at 6:47 pm to CorkRockingham
Lost about 10 percent of liquid net worth. Then got hit with another 50 percent in my 2009 divorce. Fortunately made it all back by 2012.
Posted on 11/17/20 at 6:49 pm to CorkRockingham
Not bad. Barely noticed it. I was in tourism at the time so numbers were down a bit but that was the worst of it.
We had a financial collapse and H1N1, I suppose people have gotten soft since then. No shutdowns, people out hustling to make ends meet.
We had a financial collapse and H1N1, I suppose people have gotten soft since then. No shutdowns, people out hustling to make ends meet.
Posted on 11/17/20 at 6:50 pm to CorkRockingham
I was staying in the Ritz in London the day Shearson went bankrupt.
You tell me how bad that sounds.
You tell me how bad that sounds.
Posted on 11/17/20 at 7:06 pm to CorkRockingham
Lost my job in 2010, eventually found something completely unrelated to my degree just trying to make ends meet but wound up liking it too much to go back down my original career path.
I'm a little worried this time around might have a similar start, as my clients have been hit hard.
I'm a little worried this time around might have a similar start, as my clients have been hit hard.
Posted on 11/17/20 at 7:07 pm to CorkRockingham
Was 24. Had been working in business for two years, got laid off, went into coaching after that
Posted on 11/17/20 at 7:14 pm to BatonrougeCajun
Started my job in 2006 and was good. Work in O&G and chemical industry fields. Got to start my 401k with some lower priced stocks.
Posted on 11/17/20 at 7:17 pm to CorkRockingham
Indirectly. Got laid off and it took longer to find a new job than it would have normally.
Posted on 11/17/20 at 7:46 pm to CorkRockingham
I have to ask my dad. I was a freshman/sophomore in high school.
Posted on 11/17/20 at 7:57 pm to CorkRockingham
I graduated in 07. I lost my job in 09 due to downsizing. Left my next company in 11 due to the market and was worried the company was going to fold. It did 3 months after I left. Stayed at the third company for 13 months, left for same reason. They folded a few weeks after I left. My wife was laid off in 12 and 13.
I lost every penny I put in my 401k, went essentially 5 years without a substantial raise, and put myself in dire financial straights. But it made me better at my job, taught me valuable lessons not only in employment but in how businesses are run and make money. Those lessons are a big reason why I’m successful today.
That being said, I wouldn’t wish my first 5 years on anyone. Couldn’t take vacations because we couldn’t afford it, working all the time for fear of losing my job, put a terrible strain on my marriage. I don’t begrudge anyone going through hard times. I understand it. You really have to make your own luck and understand no one owes you anything that you don’t earn yourself.
I lost every penny I put in my 401k, went essentially 5 years without a substantial raise, and put myself in dire financial straights. But it made me better at my job, taught me valuable lessons not only in employment but in how businesses are run and make money. Those lessons are a big reason why I’m successful today.
That being said, I wouldn’t wish my first 5 years on anyone. Couldn’t take vacations because we couldn’t afford it, working all the time for fear of losing my job, put a terrible strain on my marriage. I don’t begrudge anyone going through hard times. I understand it. You really have to make your own luck and understand no one owes you anything that you don’t earn yourself.
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