re: How did the 2008 financial crisis affect you?

I lost a job in March 2009.

My 401k wasn't too big yet, but it took a hit, but recovered.

I do remember a few guys, especially one I worked on projects with, had planned to retired in January 2009. Long story short, he started working several years earlier after retiring from somewhere else a year earlier. In August 2008 Gustav hit, he lived on the west side of Ascension parish and got hit pretty hard. He had to take care of his mother and his own house. Had no electricity for over a month.

He would come into work exhausted. So after that he decided to retire in January. He ended up having to work 4 more years. I can still hear another guy who planned on retiring but couldn't. For several weeks he would always say "You start working and they tell you to put your money in a 401k so when you are ready to retire you will be set. Now I want to retire and where is that money?".

With good reason, these folks were legitimately pissed.

It made you think for sure.. What about when you want to retire? What if there is a crash? Don't get me wrong, its one of the safer things to do with your money, but you definitely can't take it for granted.

quote:

---

It didn’t affect us until 2012 but that’s bc if the hurricanes down here in LA

---

You seem to have forgotten about the oil spill in 2010......


There were many people on the verge of bankruptcy in 2008-2009 until the oil spill in April of 2010 that saved a lot of lives.......

Long live the Spillionaires

Bought half a block with a house in side the city limits that was rented and opened up a business in the other half. Sold less than a year later for a handsome profit.